The demand for smart wireless propane tank meter is predicted to improve on the back of the need to enhance the operational efficiency of propane gas suppliers.
LOS ANGELES, CALIFORNIA, UNITED STATES, December 18, 2019 /EINPresswire.com/ — QY Research has updated its archive of machinery and equipment market research studies with the addition of a new report on the global smart wireless propane tank meter market. Titled “Global Smart Wireless Propane Tank Meter Market Research Report 2019,” the report offers deep insights into key aspects of the global smart wireless propane tank meter market. As per the report, the global smart wireless propane tank meter market is expected to increase its value to more than US$70.0 Mn by 2025 from over US$40.0 Mn reached in 2018. Between 2019 and 2025, it is projected to grow at a healthy CAGR of 7.7%.
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Reasons for High Growth of Global Smart Wireless Propane Tank Meter Market
• Advantages of using smart wireless propane tank meter for homeowners as well as propane marketers: reduced risk of
run-outs, decreased overall delivery cost, real-time tank level monitoring, strategic deployment, easy monitoring
through mobile app, and improved customer experience
• High use of portable propane cylinders and propane as a portable energy source for cooking, refrigeration, and water
• Use of latest technologies in smart wireless propane tank meter that help with real-time updates on tank monitoring
status, accurate forecast charts, automatic reporting on delivery savings, and estimated fill date
• Need to improve delivery efficiency of propane marketers
Wi-Fi – The Future of Connectivity: The global smart wireless propane tank meter market is segmented into commercial
and residential on the basis of application. Based on type, it is segmented into cellular digital connectivity type
and Wi-Fi connectivity type. Important factors contributing to the growth of the Wi-Fi connectivity segment of the
global smart wireless propane tank meter market are:
• High demand for faster connectivity
• Increasing use of Wi-Fi-enabled smart devices
• Strong requirement for real-time remote monitoring systems
• Certain advantages over cellular digital connectivity type such as quicker data transfer and more robust and reliable
Propane – America’s Choice Clean Fuel: The US is anticipated to create significant demand for smart wireless propane tank meter in both the residential and commercial sectors. Propane is one of the commonly used clean fuels in the country for home applications such as oven, stove, water heater, fire pit, and outdoor kitchen. It is also used for commercial applications including commercial mower, pool and spa heater, and commercial generator. Strong urbanization, implementation of stringent environmental regulations, and increasing construction activities could be other factors creating robust demand for smart wireless propane tank meter in North America.
Predicted Nature of Competitive Landscape: Moderately Fragmented
Some of the key manufacturers of smart wireless propane tank meter are Schneider Electric, Mopeka, SkyBitz, TVL International, Schmitt Industries, Tank Utility, and Wesroc. Leading companies are expected to make the most of the rising innovation trend in the global smart wireless propane tank meter market. They could concentrate more on keeping pace with continuous technological development in the global smart wireless propane tank meter market.
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Source: EIN Presswire