$7.0bn
$XXX.Xm
17,640
387
$X.Xbn
Smart meter manufacturers have been weathering choppy trade conditions as they react to shifting market trends and policy changes. A surge in exports to Canada because of incentives from the Canadian government and utility companies is bolstering US manufacturers. However, growing imports from Mexico, fueled by prominent manufacturers, are putting pressure on domestic manufacturers. Industry revenue has been increasing at a CAGR of 1.1% over the past five years to total an estimated $7.0 billion in 2024, including an estimated increase of 1.0% in 2024.
Industry revenue has grown at a CAGR of 1.1 % over the past five years, to reach an estimated $7.0bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Hubbell Inc. | 185.7 | 28.5 | 15.4 | |
Itron, Inc. | 127.3 | 7.8 | 6.1 |
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Industry revenue is measured across several distinct product and services lines, including Electric meters, Gas meters and Water meters. Electric meters is the largest segment of the Smart Meter Manufacturing in the US.
Residential and commercial construction have boosted electric meter sales
This industry manufactures smart meters, which are electrical, gas or water meters that record consumption information in intervals of an hour or less and communicate this information back to the utility for monitoring and billing purposes. Smart meters enable two-way communication between the meter and the central system.
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NAICS 33593 - Smart Meter Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Government programs boosting energy efficiency have helped smart meter manufacturers. Widespread adoption of these devices is a key part of this strategy.
Learn about an industry's products and services, markets and trends in international trade.
Manufacturers' primary product is the electric smart meter. Government incentives supporting this technology have continued to drive growth in this segment.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Urban centers are manufacturing hotspots. Smart meter manufacturers set up there to reduce shipping costs and be nearer to consumer markets.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Smart meter manufacturers vie for market share based on cost, speed and durability. These criteria are especially crucial to domestic manufacturers who balance competitive pr...
Learn about the performance of the top companies in the industry.
Itron is the industry's biggest smart meter manufacturer. They not only produce these devices but also oversee their maintenance. Their specialization helps ensure optimal fu...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Government regulation mandates smart meters in all buildings. These regulations greatly bolster growth for manufacturers in commercial and residential markets.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Purchase costs dominate the smart meter manufacturer's expenses. Despite the rising costs of electronic components and semiconductors, manufacturers have passed costs onto cu...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Smart Meter Manufacturing in the US industry in United States is $7.0bn in 2024.
There are 387 businesses in the Smart Meter Manufacturing in the US industry in United States, which has grown at a CAGR of 6.9 % between 2019 and 2024.
The market size of the Smart Meter Manufacturing in the US industry in United States has been growing at a CAGR of 1.1 % between 2019 and 2024.
Over the next five years, the Smart Meter Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Smart Meter Manufacturing market in United States are Hubbell Inc. and Itron, Inc.
Manufacturing electricity smart meters and Manufacturing gas smart meters are part of the Smart Meter Manufacturing in the US industry.
The company holding the most market share in United States is Hubbell Inc..
The level of competition is high and increasing in the Smart Meter Manufacturing in the US industry in United States.