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    South Korea Smart Gas Meter Market

    ID: MRFR/E&P/46903-HCR
    200 Pages
    Chitranshi Jaiswal
    October 2025

    South Korea Smart Gas Meter Market Research Report By Product Type (Diaphragm, Turbine, Rotary Piston, Others) and By Application (Residential, Commercial, Industrial)- Forecast to 2035

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    South Korea Smart Gas Meter Market Infographic
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    South Korea Smart Gas Meter Market Summary

    The South Korea Smart Gas Meter market is projected to grow from 51.9 million USD in 2024 to 81.4 million USD by 2035.

    Key Market Trends & Highlights

    South Korea Smart Gas Meter Key Trends and Highlights

    • The market is expected to achieve a compound annual growth rate (CAGR) of 4.18 percent from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 81.4 million USD, indicating robust growth.
    • In 2024, the market is valued at 51.9 million USD, reflecting a strong foundation for future expansion.
    • Growing adoption of smart gas metering technology due to increasing energy efficiency demands is a major market driver.

    Market Size & Forecast

    2024 Market Size 51.9 (USD Million)
    2035 Market Size 81.4 (USD Million)
    CAGR (2025-2035) 4.18%

    Major Players

    Itron, Daewoo Engineering and Construction, SNCLavalin, Mitsubishi Electric, LG Electronics, Samsung Electronics, Kalpataru Power Transmission, Siemens, Sungrow Power Supply, Hansol Technics, Honeywell, Hana Technology, SK Telecom, Mitala, Sensus

    South Korea Smart Gas Meter Market Trends

    Alongside this, the increasing demand for improved energy management systems in residential and commercial sectors contributes to the growth of smart gas meters.Opportunities to be explored include the potential for integration with smart home systems and other IoT devices, creating a comprehensive energy management ecosystem. The rise in awareness among consumers about energy efficiency and rising energy costs can drive the adoption of smart gas metering solutions. Furthermore, the ongoing digital transformation in South Korea presents a ripe opportunity for market players to enhance their product offerings and establish partnerships with technology firms. 

    In recent times, there has been a noticeable shift towards digital platforms that allow for seamless communication between consumers and gas service providers.Such innovations help facilitate accurate billing, reduce operational costs, and improve customer satisfaction. The South Korean government has also embarked on various pilot projects to demonstrate the effectiveness of smart gas meters, positively impacting consumer acceptance and driving further adoption. Overall, trends in the South Korea Smart Gas Meter Market indicate a clear path toward increased digitalization, efficiency, and integration with broader smart city initiatives.

    Market Segment Insights

    South Korea Smart Gas Meter Market Segment Insights

    South Korea Smart Gas Meter Market Segment Insights

    Smart Gas Meter Market Product Type Insights

    Smart Gas Meter Market Product Type Insights

    The South Korea Smart Gas Meter Market is experiencing notable growth driven by advancements in technology and the increasing necessity for efficient energy management. Within the scope of Product Type, several forms dominate the market, including Diaphragm, Turbine, Rotary Piston, and Others, reflecting diverse applications and preferences.

    Diaphragm meters, widely recognized for their accurate measurement capabilities and suitability for residential applications, have established themselves as a significant choice among consumers searching for reliable and efficient gas usage tracking solutions.Conversely, Turbine meters are favored in industrial applications due to their high flow measurement accuracy and capability of handling larger volumes, making them essential for businesses aiming to optimize energy consumption. 

    Rotary Piston meters, known for their robustness and reliability, cater to applications requiring precise measurement under varying pressures and temperatures, offering enhanced performance in the dynamic industrial environment. The Others category encompasses a range of innovative technologies, representing the ongoing evolution and customization opportunities that cater to specific market needs, further enhancing the overall South Korea Smart Gas Meter Market dynamics.As utilities and energy providers enhance their infrastructure with smart solutions and regulatory frameworks push for improved energy efficiency, the segmentation within the South Korea Smart Gas Meter Market is exhibiting robust shifts towards more technologically advanced solutions. 

    This segmentation also reflects the broader trends toward energy conservation and sustainability, as stakeholders increasingly recognize the importance of accurate data collection in promoting responsible usage. As the landscape evolves, companies in South Korea are likely to invest in Research and Development initiatives to innovate further and align product offerings with the specific requirements of consumers and industries.This drive for innovation not only aids in meeting regulatory standards but also enhances customer satisfaction through improved product features, ultimately shaping the future of the South Korea Smart Gas Meter Market. 

    Smart Gas Meter Market Application Insights

    Smart Gas Meter Market Application Insights

    The Application segment of the South Korea Smart Gas Meter Market encompasses Residential, Commercial, and Industrial uses, each contributing to the market's growth trajectory. With a focus on smart gas metering solutions, the Residential sector is increasingly adopting advanced technologies to enhance energy efficiency and reduce costs, aligning with governmental initiatives promoting energy conservation. The Commercial segment also plays a significant role as businesses seek accurate billing systems and improved resource management to optimize operations.

    Meanwhile, the Industrial sector is leveraging smart gas meters to monitor usage more effectively, ensuring compliance with regulatory standards and minimizing wastage. The rising demand for real-time data analytics and operational efficiency across all applications reinforces the importance of smart gas meters in South Korea. A notable trend is the increasing integration of the Internet of Things (IoT) in this segment, facilitating seamless communication between devices and enabling better energy management practices. As urbanization and industrialization continue to progress, the market holds substantial opportunities for enhancing overall efficiency and supporting sustainable practices in energy consumption.

    Get more detailed insights about South Korea Smart Gas Meter Market Research Report - Forecast to 2035

    Key Players and Competitive Insights

    The South Korea Smart Gas Meter Market has become increasingly competitive due to technological advances and the growing focus on energy efficiency and sustainable resource management. Smart gas meters, which facilitate the automatic collection of gas usage data, have gained traction as utility companies and consumers seek more accurate billing, enhanced monitoring capabilities, and better energy management solutions. This dynamic landscape is characterized by several local and international players vying for market share, focusing on innovations, regulatory compliance, and energy-saving technologies. 

    With government initiatives aimed at promoting digitalization and the implementation of smart systems, companies operating within this market are continuously adapting their strategies to meet the evolving needs of the industry and consumers alike.Itron has established a notable presence in the South Korea smart gas meter market, leveraging its expertise in advanced metering infrastructure and smart grid technologies. The company's strength lies in its innovative solutions that enhance the efficiency and functionality of gas meters, thereby providing utility companies with improved data analytics capabilities and operational efficiency.

    Itron's commitment to sustainability further resonates with South Korea's energy policies, which prioritize environmentally friendly practices and smart city initiatives.

     With a solid reputation for reliability and technological advancements, Itron is well-positioned to capitalize on the growing demand for smart utility solutions and data-driven applications in South Korea.Daewoo Engineering and Construction has carved out a significant niche in the South Korea smart gas meter market, contributing to the advancement of infrastructure and smart technology applications. The company offers a range of products and services, including the development and integration of smart gas metering systems aimed at enhancing measurement accuracy and operational efficiencies. 

    With a strong focus on engineering excellence and innovation, Daewoo Engineering and Construction has developed strategic partnerships and pursued mergers and acquisitions to strengthen its market presence and expand its service offerings. The company's strengths include comprehensive project management capabilities and the ability to deliver integrated smart solutions that align with South Korea's utilities' modernization efforts. Through these initiatives, Daewoo Engineering and Construction continues to play a pivotal role in driving smart gas metering advancements in the region.

    Key Companies in the South Korea Smart Gas Meter Market market include

    Industry Developments

    In the past few months, the South Korea Smart Gas Meter Market has witnessed significant developments. Notably, LG Electronics has launched advanced smart gas meters featuring IoT capabilities to enhance energy efficiency and real-time monitoring since May 2023. In addition, Samsung Electronics has been collaborating with local utility companies to deploy smart gas meters across urban regions, aiming to improve customer service and data accuracy. On the mergers and acquisitions front, Mitsubishi Electric acquired Sensus in June 2023, strengthening its portfolio within the smart gas metering ecosystem. 

    Moreover, Daewoo Engineering and Construction announced a partnership with Siemens in April 2023 to modernize smart gas networks, contributing to infrastructure advancements in Seoul. The market's valuation has been steadily increasing, driven by growing demand for energy efficiency and digitalization of utilities, with significant investments from companies such as Honeywell and SK Telecom to expand their offerings. Major happenings over the past couple of years include the government’s initiative in 2021 to support smart meter implementations to enhance energy management in residential sectors, positioning South Korea as a leader in smart metering technology.

    Market Segmentation

    Outlook

    • Residential
    • Commercial
    • Industrial

    Report Scope

    Report Attribute/Metric Source: Details
    MARKET SIZE 2023 50.1(USD Million)
    MARKET SIZE 2024 51.9(USD Million)
    MARKET SIZE 2035 81.4(USD Million)
    COMPOUND ANNUAL GROWTH RATE (CAGR) 4.176% (2025 - 2035)
    REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    BASE YEAR 2024
    MARKET FORECAST PERIOD 2025 - 2035
    HISTORICAL DATA 2019 - 2024
    MARKET FORECAST UNITS USD Million
    KEY COMPANIES PROFILED Itron, Daewoo Engineering and Construction, SNCLavalin, Mitsubishi Electric, LG Electronics, Samsung Electronics, Kalpataru Power Transmission, Siemens, Sungrow Power Supply, Hansol Technics, Honeywell, Hana Technology, SK Telecom, Mitala, Sensus
    SEGMENTS COVERED Product Type, Application
    KEY MARKET OPPORTUNITIES Smart city initiatives, Government regulations for energy efficiency, Growing demand for IoT integration, Rising awareness of energy conservation, Upgradation of existing infrastructure
    KEY MARKET DYNAMICS government regulations, increasing energy efficiency, smart grid integration, rising consumer awareness, technological advancements
    COUNTRIES COVERED South Korea

    FAQs

    What is the expected market value for the South Korea Smart Gas Meter Market in 2024?

    The South Korea Smart Gas Meter Market is expected to be valued at 51.9 million USD in 2024.

    What will be the projected market size for the South Korea Smart Gas Meter Market by 2035?

    By 2035, the market is anticipated to reach a value of 81.4 million USD.

    What is the expected CAGR for the South Korea Smart Gas Meter Market from 2025 to 2035?

    The expected compound annual growth rate (CAGR) for the market from 2025 to 2035 is 4.176%.

    Which product type holds the largest market share in the South Korea Smart Gas Meter Market?

    The Diaphragm type is expected to dominate, valued at 15.6 million USD in 2024.

    What are the projected market values for the Turbine product type in 2024 and 2035?

    The Turbine product type is projected to be valued at 12.4 million USD in 2024 and 19.1 million USD by 2035.

    Who are the key players in the South Korea Smart Gas Meter Market?

    Major players in the market include Itron, Daewoo Engineering and Construction, and Mitsubishi Electric among others.

    What will be the expected value for the Rotary Piston product type by 2035?

    The Rotary Piston product type is expected to reach a value of 15.9 million USD by 2035.

    What is the expected value of the 'Others' segment in the market for 2024?

    The 'Others' segment of the market is expected to be valued at 13.4 million USD in 2024.

    What challenges might the South Korea Smart Gas Meter Market face in the coming years?

    Potential challenges for the market may include technological advancement and regulatory compliance.

    What growth drivers are anticipated to influence the South Korea Smart Gas Meter Market until 2035?

    Increased demand for energy efficiency and smart infrastructure development are likely growth drivers for the market.

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