As per MRFR analysis, the South Korea Smart Gas Meter Market Size was estimated at 50.1 (USD Million) in 2023. The South Korea Smart Gas Meter Market Industry is expected to grow from 51.9(USD Million) in 2024 to 81.4 (USD Million) by 2035. The South Korea Smart Gas Meter Market CAGR (growth rate) is expected to be around 4.176% during the forecast period (2025 - 2035)
Key South Korea Smart Gas Meter Market Trends Highlighted
The South Korea Smart Gas Meter Market is witnessing significant trends driven by technological advancements and government initiatives aimed at enhancing energy efficiency and sustainability. Key market drivers include the South Korean government's commitment to smart energy solutions to meet environmental goals. This has spurred investments in smart metering technologies, which facilitate real-time monitoring and management of gas usage, allowing consumers and utility companies to optimize resource allocation.
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.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
South Korea Smart Gas Meter Market Drivers
Government Initiatives for Energy Efficiency
Through a number of programs and regulations, the South Korean government has been aggressively advancing energy efficiency. The Ministry of Trade, Industry, and Energy has established challenging targets to cut energy use in a number of industries. To improve efficiency and monitoring, a lot of attention is being paid to the deployment of smart metering technologies, such as smart gas meters. The South Korean government estimates that by 2030, the use of these technologies might result in a 15% decrease in energy usage. In addition to advancing national energy objectives, this drive for smart energy solutions opens the door for a larger rollout of smart gas meters in the South Korea smart gas meter market. Better energy management and alignment with global environmental trends are anticipated outcomes of the integration of sophisticated metering infrastructure.
Rising Consumer Demand for Real-Time Data
As the awareness of energy conservation rises, consumers in South Korea are increasingly seeking real-time data regarding their energy consumption. This demand for transparent and timely information has directly influenced the South Korea Smart Gas Meter Market Industry. The Korea Electric Power Corporation reported a 20% increase in customer inquiries about real-time energy monitoring options within the last two years. This trend indicates a growing preference among households and businesses for advanced gas metering solutions that provide instant feedback, allowing users to adjust consumption accordingly and thus contribute to more sustainable energy use.
Technological Advancements in Metering Solutions
Advancements in technology are significantly impacting the South Korea Smart Gas Meter Market. Recent developments in communication technology, such as the integration of Internet of Things (IoT) capabilities within smart meters, are enhancing data collection efficiency and operational performance. According to the Ministry of Science and ICT, the deployment of IoT technologies in various sectors can enhance operational efficiency by approximately 30%.This creates an opportunity for established companies like LG Electronics and Samsung, who are investing in Research and Development to produce cutting-edge metering solutions, thus driving the growth of the South Korea Smart Gas Meter Market Industry.
Support from Major Utility Providers
Major utility providers in South Korea, such as the Korea Gas Corporation, are increasingly investing in smart metering technologies. The corporation has outlined plans to upgrade over 95% of its gas meters to smart meters by 2025. This significant shift is expected to enhance operational efficiencies, reduce maintenance costs, and improve customer service by providing accurate billing and real-time data monitoring. The ongoing support and push from these established organizations in optimizing service delivery directly fuels the expansion of the South Korea Smart Gas Meter Market Industry, making it more attractive for new investments and technological adoption.
South Korea Smart Gas Meter Market Segment 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.
The collective transition towards smarter, more efficient gas metering solutions signifies a pivotal moment as South Korea actively pursues energy efficiency and fosters sustainable practices, providing ample growth opportunities across different product types in the market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
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.
South Korea Smart Gas Meter Market 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 Include
South Korea Smart Gas Meter Market 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.
South Korea Smart Gas Meter Market Segmentation Insights
| 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 |
Frequently Asked Questions (FAQ) :
The South Korea Smart Gas Meter Market is expected to be valued at 51.9 million USD in 2024.
By 2035, the market is anticipated to reach a value of 81.4 million USD.
The expected compound annual growth rate (CAGR) for the market from 2025 to 2035 is 4.176%.
The Diaphragm type is expected to dominate, valued at 15.6 million USD in 2024.
The Turbine product type is projected to be valued at 12.4 million USD in 2024 and 19.1 million USD by 2035.
Major players in the market include Itron, Daewoo Engineering and Construction, and Mitsubishi Electric among others.
The Rotary Piston product type is expected to reach a value of 15.9 million USD by 2035.
The 'Others' segment of the market is expected to be valued at 13.4 million USD in 2024.
Potential challenges for the market may include technological advancement and regulatory compliance.
Increased demand for energy efficiency and smart infrastructure development are likely growth drivers for the market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
Get in Touch
© 2025 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
