As part of efforts to modernize and improve efficiency of power infrastructure
powerdemandIncrease andsmartMeter'sNecessity
India is one of the fastest growing economies in the world. Industrialization and urbanization are occurring rapidly, and the demand for electricity is steadily increasing. With a population of approximately 14 billion, India needs a stable power supply to support this economic growth. This requires the construction and modernization of large-scale power infrastructure. Traditional power metering systems rely on periodic manual meter readings, which results in inaccurate data and frequent power losses. The Indian government is strongly promoting the introduction of smart meters to address these issues and increase the efficiency of power supply.
There are several reasons for the introduction of smart meters in India. Among them, the limitations of the existing power metering system have particularly increased the need for the introduction of smart meters. Traditional power meters are operated by manual metering, which increases the possibility of errors in the data collection process. In addition, if metering is not done on time, it is difficult to accurately determine power consumption. These problems have prevented power companies from understanding consumers’ actual power usage in real time, making it difficult to predict demand and distribute power.
Smart meters are a technological alternative that can solve these problems. This is because they can accurately identify power usage through real-time data collection and analysis. Smart meters allow power companies to more accurately forecast demand and maximize the efficiency of power supply. Smart meters also support the integration of renewable energy. India has great potential for renewable energy sources such as solar and wind power. Renewable energy has many advantages, such as no risk of depletion and no environmental pollutants, but it has the disadvantage of being highly volatile due to the influence of the weather. Real-time data collection is essential to manage the volatility of such energy sources. At this time, using smart meters, it is possible to monitor the status of the power grid in real time and balance energy supply and demand.
smartMeterof the marketGrowth andView
인도 스마트 미터 시장은 최근 몇 년간 급속히 성장하고 있다. 2022년 기준으로 인도의 스마트 미터 시장 규모는 약 2억2340만 달러로 평가됐으며, 2031년까지 연평균 성장률(CAGR) 34.6%를 기록할 것으로 예상된다. 이에 따라 2031년에는 시장 규모가 약 33억 달러에 이를 것으로 전망된다. 이러한 성장은 정부의 강력한 정책적 지원과 기술적 발전, 그리고 스마트 그리드 인프라의 확장이 주된 요인으로 작용하고 있다.
India imports a significant portion of the key components and finished products related to smart meter technology from abroad. In particular, it imports key components related to smart meters from China, Germany, and the United States, which is acting as one of the important factors in the Indian smart meter market. As of 2023, India imported $902830 million worth of smart meter related products under HS CODE 720.
mainmarketParticipants
The Indian smart meter market is being competed by several global and domestic companies. Key market players include:
– Genus Power Infrastructures Ltd.: One of the leading smart meter manufacturers in India. It offers a wide range of smart meter products. It is continuously investing in the development of smart meter technology and is working with various power companies across India.
– Secure Meters Ltd.: One of the global leaders in power management solutions, it supplies a range of energy management products including smart meters in India. The company offers customized solutions to its customers and is considered a leader in smart meter technology.
– Larsen & Toubro (L&T): L&T is a large Indian engineering and construction company that is also actively involved in smart grid and smart meter projects. The company is working with the Indian government to implement large-scale smart meter projects and is contributing to improving power infrastructure.
– HPL Electric & Power Ltd.: One of the leading Indian companies providing power equipment and solutions, focusing on manufacturing and supplying smart meters. The company is working with various power companies in India to expand the installation of smart meters.
– Honeywell International Inc.: A global technology and manufacturing company, providing smart metering and energy management solutions. Honeywell is also active in the Indian market and is leading the innovation of smart metering technology.
by regionsmartMeterIntroductionStatus
Smart meter introduction is actively underway throughout India, but the pace and status of introduction differs by region. We looked at the status of smart meter introduction by region, including the North, West, East, and South. First, the North is home to Delhi, Uttar Pradesh, and Haryana. The North is where smart meter introduction is most active. Since power loss has become a serious problem in these regions, there is a strong will to solve this problem through the introduction of smart meters. In Delhi, the number of smart meters installed has already exceeded 100 million, and Uttar Pradesh and Haryana are also installing a significant number of smart meters.
The western region includes Maharashtra, Gujarat, and Rajasthan. The western region is a highly industrialized region with high electricity consumption. In this region, the introduction of smart meters is focused on improving energy efficiency in the industrial and commercial sectors and reducing electricity losses. Maharashtra and Gujarat have installed more than 200 million smart meters each to maximize electricity management efficiency. The eastern region includes West Bengal, Odisha, and Bihar, where the pace of smart meter introduction has been relatively slow, but in recent years, smart meter installation has been accelerating due to cooperation between the government and power companies. In particular, West Bengal is expanding the introduction of smart meters, focusing on rural areas, and Odisha and Bihar are also making efforts to improve their electricity infrastructure by introducing smart meters.
Lastly, the southern regions, including Tamil Nadu, Andhra Pradesh, and Karnataka, are traditionally considered to be regions with good power management. Smart meter introduction is also actively underway. Tamil Nadu and Karnataka are each installing more than 150 million smart meters, accelerating the construction of smart grid infrastructure.
smartMeterIntroductionmainadvantage
The introduction of smart meters offers several important benefits to India’s power infrastructure. First, it improves operational efficiency. Smart meters provide real-time power consumption data, allowing power companies to accurately understand the state of the grid and respond quickly when necessary. This reduces power losses and reduces operating costs.
Second, it is an improvement in user experience. Through smart meters, users can check their power consumption patterns in real time and develop more efficient power usage habits. In addition, smart meters enable automated metering, so users can accurately measure their power usage without having to wait for a meter reader. This will contribute to increasing user satisfaction and strengthening mutual trust with power companies.
Third, energy conservation and environmental protection. Smart meters encourage users to save energy by making energy consumption more transparent. This ultimately reduces electricity consumption and carbon emissions. India is expanding the use of renewable energy sources to combat climate change, and smart meters will be an important tool to achieve this goal.
smartMeter'sThe future andcontinuePossibility
Smart meters will play a vital role in modernizing India’s power infrastructure and maximizing the efficiency of power distribution. Smart meters will also make India’s energy system more sustainable by supporting the integration of renewable energy.
The successful introduction and expansion of smart meters will bring great benefits to both the Indian economy and the environment. The Indian government and power companies should work closely together to promote the introduction of smart meters and make continuous efforts to improve the power infrastructure. This will enable India to create a more transparent and efficient power management system through smart meters, and this change will play a significant role in promoting sustainable development in India and leading the innovation in the power sector.
In an interview with KOTRA’s Kolkata office, Neeraj Agarwal, Vice President, IPCL, said, “Smart meters are playing a significant role in reducing greenhouse gases and modernizing India’s power distribution sector.” He said, “India has set a target of replacing 2025 million existing meters with smart meters by 2, which will be done under the Revamped Distribution Sector Scheme.” Of these, around 5000 million meters have not been tendered yet and are expected to be tendered in the next three to four years. IPCL has so far installed over 1 smart meters in the Indian state of Madhya Pradesh and has succeeded in reducing transmission and distribution losses while maintaining a service level agreement (SLA) of 3 percent. IPCL aims to secure contracts for 4 million smart meters in the next three to four years.
implication
India's smart meter program is a major leap forward in modernizing and improving the efficiency of its power infrastructure. With strong policy support from the Indian government and active participation from key market players, India will be able to modernize its power management system, reduce power losses, and realize energy savings through smart meters. This change will contribute significantly to India's sustainable development and climate change response, and will also provide good market entry opportunities for Korean smart meter manufacturers.
Sources: Economic Times, India Times, Smart Meter India, Adani Energy Solutions, Global Trade Atlas, Astute Analytica, KOTRA Kolkata Trade Center, etc.
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