Electric Submeter Market Size, Share & Forecast Report, 2033

Electric Submeter Market Overview

Global Electric Submeter market size is projected at USD 9273.01 million in 2024 and is expected to hit USD 12855.49 million by 2033 with a CAGR of 3.7%.

The Electric Submeter Market plays a crucial role in monitoring and managing electricity usage at the unit, floor, or individual tenant level. Globally, over 1.5 billion electric meters are deployed, out of which more than 420 million are submeters, highlighting their widespread adoption in distributed metering systems. Submeters are extensively used in multi-tenant commercial buildings, industrial plants, and residential complexes where energy allocation and cost transparency are essential.

In recent years, there has been a rapid adoption of digital and smart submeters, accounting for over 65% of newly installed submeters across developed markets. As of 2024, more than 30 million residential buildings in the Asia-Pacific region are estimated to have integrated electric submeters. Government mandates for energy efficiency in North America and Europe have accelerated submeter deployments, especially in buildings exceeding 50,000 square feet. Industrial applications contribute approximately 38% to the global electric submeter installations, driven by requirements for real-time monitoring and control.

Wireless submeters have shown a penetration rate of 22% in new commercial constructions, and integration with energy management software platforms has grown by 40% over the past two years. These developments underscore the electric submeter’s growing influence in smart grid ecosystems and sustainable energy practices.

Key Findings

Top Driver reason: Increasing emphasis on energy efficiency and regulatory mandates for consumption monitoring.

Top Country/Region: China leads in electric submeter deployment, with over 120 million units in operation across residential and industrial sectors.

Top Segment: Industrial application dominates the market, contributing nearly 38% of global installations due to its need for granular energy usage insights.

Electric Submeter Market Trends

The electric submeter market is undergoing a dynamic transformation influenced by the global shift toward energy conservation, data-driven grid management, and building efficiency standards. One of the most prominent trends is the integration of submeters with advanced energy analytics platforms. More than 45% of commercial submeters installed in 2023 featured built-in data logging and wireless communication capabilities, enabling real-time usage analysis and alert systems.

In the residential sector, deployment of electric submeters has increased by 31% in multi-family housing projects in Europe, driven by directives such as the Energy Efficiency Directive. Smart submeters with two-way communication capabilities now represent over 60% of installations in urban residential developments across North America.

Industrial facilities are prioritizing electric submeters that support Modbus and BACnet protocols, with over 50,000 new installations in 2023 alone supporting interoperability with centralized SCADA systems. Furthermore, the emergence of IoT-connected submeters has led to a 35% rise in installations across renewable energy sites, including solar farms and wind plants, where precise load balancing is critical.

Electric Submeter Market Dynamics

DRIVER

Rising demand for energy efficiency and real-time consumption tracking

The demand for electric submeters is being driven by a global push for energy efficiency, particularly in urban and industrial areas. Over 48% of the world’s electricity is consumed by buildings, prompting regulatory agencies to demand precise tracking of energy consumption. In 2023 alone, more than 5 million submeters were installed in commercial properties across North America to comply with state energy disclosure ordinances. Large industrial plants, consuming over 50,000 MWh annually, are now implementing submeters at the sub-unit level to reduce wastage and track peak load patterns.

RESTRAINT

High cost of installation and system integration

Despite their advantages, electric submeters face barriers due to high initial costs and integration complexity. On average, the installation of submeters in existing multi-story residential buildings costs between $400 and $1,000 per unit, depending on wiring and access constraints. System upgrades to ensure compatibility with digital submeters and cloud-based energy management platforms can add another 20%–30% in integration expenses. In underdeveloped and rural areas, infrastructure limitations prevent large-scale adoption.

OPPORTUNITY

Expansion of smart grid infrastructure and building automation

The evolution of smart grids and intelligent building ecosystems is opening new avenues for electric submeter deployment. Countries such as South Korea and Japan have achieved over 85% smart grid penetration, creating fertile ground for advanced submeters. In 2024, over 9 million new submeters were installed in smart buildings globally, a 33% increase from the previous year. Submeters now play a central role in demand response programs, feeding real-time consumption data to utilities that can shift or reduce loads during peak hours.

CHALLENGE

Lack of standardization and data security concerns

The absence of universal protocols and standards in the electric submeter industry presents a significant challenge. Different manufacturers use varying communication protocols (e.g., Zigbee, Modbus, Wi-Fi), resulting in interoperability issues. In a 2023 global facilities survey, 42% of energy managers cited inconsistent data formats as a barrier to consolidated reporting. Cybersecurity is also emerging as a concern, particularly with the rise of cloud-based submeters.

Electric Submeter Market Segmentation

The electric submeter market is segmented by type and application, with differentiation based on current measurement technology and end-user environment. Submeters are categorized into Current Transformer, Rogowski Coil, and Others, with each offering unique operational advantages. Applications include Residential, Commercial, and Industrial uses, which demand varied levels of data precision, scalability, and integration.

By Type

Current Transformer: Current Transformer (CT) based submeters dominate the industrial and commercial space. These devices handle high current loads, with accuracy typically ranging from ±0.5% to ±1%. In 2024, over 12 million CT-based submeters were active in heavy-duty manufacturing and distribution plants globally. In the U.S., approximately 62% of submeters installed in retail centers and warehouses utilize CTs for their cost-effective large-load monitoring. These meters are suitable for integration into high-voltage switchboards, making them a preferred choice for large-scale infrastructures.
Rogowski Coil: Rogowski Coil submeters are gaining popularity due to their flexible installation and non-intrusive nature. Ideal for retrofits, they accounted for 21% of the new submeters installed in commercial buildings in 2023. These coils are widely used in locations where conventional CTs are impractical due to space constraints or irregular conductor geometries. Their typical measurement range extends from 1A to 5,000A with a linearity error below ±0.5%, making them suitable for both low and medium-voltage circuits. Adoption has increased by 18% in renewable energy applications where modular metering is required.
Other: This category includes Hall effect sensors and digital chip-based metering units. These are primarily used in niche segments such as telecom base stations and electric vehicle charging stations. In 2024, approximately 800,000 submeters utilizing these technologies were installed globally. These types provide advantages in fast response time and high-frequency sampling, essential for environments requiring rapid load changes and harmonic analysis.

By Application

Residential: Residential applications of electric submeters have surged, with over 75 million units installed in apartment complexes worldwide. In India alone, approximately 9 million households were equipped with submeters for individual tenant billing as of 2023. These submeters typically monitor 1-phase loads and offer Class 1 or Class 2 accuracy. Features like prepaid billing and remote disconnection are driving deployment in housing societies and low-income neighborhoods.
Commercial: The commercial sector uses submeters in shopping malls, office buildings, data centers, and hospitality facilities. As of 2024, more than 45% of Grade-A commercial buildings in the EU use submeters on a per-floor or per-suite basis. Smart submeters with touchscreen interfaces and Wi-Fi connectivity are preferred for real-time tenant billing and energy performance monitoring. In the Middle East, over 60% of luxury hotels are equipped with submeters to manage HVAC and lighting loads individually.
Industrial: Industrial submetering accounts for the highest share, with installations concentrated in manufacturing, mining, and logistics. Facilities consuming over 20 MW annually often install submeters at individual machinery or process-line levels. In China, over 18,000 factories adopted submeters in 2023 as part of energy efficiency audits. These submeters offer features such as harmonic distortion monitoring and peak demand logging, supporting regulatory compliance and production efficiency.

Electric Submeter Market Regional Outlook

The electric submeter market exhibits varied growth patterns across regions due to differences in infrastructure development, regulatory mandates, and utility practices.

North America

North America is a mature submeter market with over 120 million meters deployed, including more than 30 million submeters. In the U.S., states like California and New York mandate submetering in multifamily dwellings exceeding five units. Commercial sector uptake has been significant, with 80% of Fortune 500 headquarters using submeters for energy reporting and cost allocation. Canada has emphasized submeter deployment in public sector buildings, with over 18,000 government facilities equipped with submeters as of 2023.

Europe

Europe demonstrates strong adoption driven by the Energy Efficiency Directive and national building codes. Germany, France, and the U.K. lead the region with more than 40 million submeters combined. Smart submeters constitute 70% of new installations, driven by environmental certifications such as BREEAM and LEED. Retrofit programs in old buildings have also contributed to submetering expansion, with over €350 million invested in energy monitoring upgrades across the EU in 2023 alone.

Asia-Pacific

Asia-Pacific is the fastest-growing region, with China accounting for over 120 million installed submeters across residential and industrial properties. Urbanization and new construction activities in Southeast Asia are further accelerating demand. In Japan, submeters are installed in over 85% of commercial buildings, while India added 6 million submeters in 2023 in housing and smart city projects. Government-led programs in Australia have resulted in submeter usage in more than 75% of large public infrastructure assets.

Middle East & Africa

The Middle East is witnessing rapid deployment of submeters in real estate developments, particularly in UAE, Qatar, and Saudi Arabia. Dubai mandates submeters in all freehold commercial properties, and more than 14,000 submeters were deployed in new construction in 2023. Africa, while still emerging, shows promise with rising investments in urban electrification. South Africa alone saw 420,000 submeters deployed in low-cost housing schemes in 2023, enabling prepaid metering and energy budgeting for households.

List of Top Electric Submeter Market Companies

Landis+Gyr
Itron
Silver Spring Networks
GE Digital Energy
Siemens
Kamstrup
Xylem Inc
Elster Group
Aclara
Sagemcom
Leviton
Echelon
Nuri Telecom
E-Mon
Sanxing
Linyang Electronics
Wasion Group
Haixing Electrical
Techrise Electronics
Chintim Instruments
XJ Measurement & Control Meter
Clou Electronics
HND Electronics
Longi
Hengye Electronics
Holley Metering
Wellsun Electric Meter
Sunrise
Xiou International Group
Pax Electronic Technology

Top Two companies with highest share

Landis+Gyr: Landis+Gyr maintains a dominant position with over 90 million smart metering devices deployed worldwide, including more than 30 million submeters. The company has a strong presence in North America and Europe, with over 25% share in the commercial submeter market. In 2023, it delivered 6 million new submeters integrated with IoT analytics across 12 countries.

Itron (Silver Spring Networks): Itron holds a leading position in the submetering sector, with over 70 million electric meters globally, and approximately 28 million submeters installed across smart cities and utility partnerships. Its OpenWay Riva platform supports two-way communication in over 60% of its installed base, with deployment in over 100 smart grid projects by 2024.

Investment Analysis and Opportunities

The electric submeter market is attracting strong investment, driven by global trends toward energy accountability, ESG compliance, and digital infrastructure enhancement. In 2023, capital investments into submeter technology manufacturers and software integrators exceeded $1.3 billion across strategic alliances, new facilities, and product development. Private equity firms are increasingly acquiring submeter manufacturers due to recurring revenue potential from SaaS-based energy platforms.

Asia-Pacific remains the largest destination for investment, with China alone seeing over 15 new submeter manufacturing units approved between 2023 and 2024. India’s smart city mission has triggered capital inflows exceeding $200 million in submeter infrastructure across 25 major cities. Industrial automation companies are now bundling submeters with broader energy monitoring solutions, resulting in integrated investment strategies.

In Europe, green building initiatives are fueling partnerships between energy service companies (ESCOs) and submeter vendors. Over €400 million was invested in retrofitting submeters in educational and public buildings in France, Germany, and the Netherlands during 2023. These initiatives are often supported through performance-based contracts where cost savings fund submeter deployment.

North America’s investment is shifting toward software ecosystems. Over 60% of the capital raised in 2023 by U.S.-based submeter startups was directed toward cloud analytics platforms, data visualization tools, and mobile apps that link to submeters. This digital pivot has created an ecosystem where submeters are no longer stand-alone hardware but a critical part of broader energy management platforms.

New Product Development

Innovation is accelerating in the electric submeter market, with manufacturers launching advanced products to address growing market demands for smart, modular, and interoperable devices. In 2023, more than 120 new submeter models were introduced globally, including compact designs, multi-circuit options, and high-precision digital variants.

A key focus area is wireless connectivity. Over 35% of submeters launched in the past year include built-in LoRaWAN, NB-IoT, or Wi-Fi modules. These enable seamless integration with cloud platforms and mobile apps. For example, a leading European manufacturer released a Wi-Fi-enabled submeter that supports real-time alerts, remote firmware updates, and energy pattern learning using embedded AI.

Multi-circuit submeters have also gained traction. These units can measure up to 24 circuits simultaneously, reducing hardware costs by over 40% in large facilities. As of 2024, more than 15% of commercial buildings in the U.S. have adopted multi-circuit submeters for branch-level monitoring, improving energy distribution analysis.

New developments in plug-and-play submeters are targeting the residential retrofit market. Compact submeters with DIN rail mounting and auto-configuration are being marketed to property managers and electricians to simplify installation. A prominent product launched in 2023 features color-coded terminal blocks and NFC-based configuration, reducing setup time by over 60%.

Five Recent Developments

Landis+Gyr: launched a new series of AI-integrated submeters in Q2 2023 that provide automated consumption pattern analysis and energy-saving recommendations. Over 300,000 units have been deployed in Europe.
Itron: introduced a 4G-enabled modular submetering platform in early 2024, designed for decentralized energy environments. The system has already been implemented in over 45 smart city projects.
Siemens: unveiled its Sentron 7KT PAC series in Q3 2023, with embedded edge analytics and compatibility with OPC UA. Sales exceeded 50,000 units within the first six months across Germany and the UK.
Kamstrup: expanded its product line in 2024 with water-and-electric combo submeters for district-level utility billing. These devices are in use in over 12 municipal projects in Scandinavia.
Elster Group (Honeywell): launched an app-based remote configuration tool in 2023 for use with its A1700 series submeters, reducing commissioning time by up to 40%. Adoption increased by 60% in Latin America within one year.

Report Coverage of Electric Submeter Market

This report provides a comprehensive evaluation of the global electric submeter market, encompassing in-depth analysis of product types, end-user applications, and regional trends. With over 2.5 billion buildings worldwide and rising demand for energy accountability, submeters have emerged as critical instruments in managing electricity at the granular level. As of 2024, there are an estimated 420 million submeters in use globally, and their role in sustainable infrastructure and smart grid modernization is expanding rapidly.

The report segments the market into three primary types: Current Transformer, Rogowski Coil, and Others, offering technical and commercial insights into their design, deployment, and use cases. Application-based segmentation into Residential, Commercial, and Industrial sectors highlights how demand dynamics vary by usage environment. The report delves into over 50 real-world deployment scenarios, illustrating use cases such as tenant billing, equipment-level monitoring, and energy benchmarking.

Regional performance is analyzed across North America, Europe, Asia-Pacific, and Middle East & Africa, with detailed coverage of over 25 countries. Key regulatory frameworks, submetering mandates, and market maturity levels are explored to provide strategic guidance for stakeholders. The report outlines how North America and Europe lead in retrofit submeter adoption, while Asia-Pacific drives growth in greenfield deployments.

In terms of competitive landscape, the report profiles over 25 leading players, including hardware manufacturers, platform developers, and systems integrators. Market share estimates, installation bases, and technology adoption rates are included to offer a clear view of industry leadership and innovation trends.