China Power Metering Market Overview, 2031

Market Insights on China Power Metering Market

• According to the research report, "China Power Metering Market Overview, 2031," published by Bonafide Research, the China Power Metering market is anticipated to grow at 10.87% CAGR from 2026 to 2031.China’s power metering market has reached a level of scale and technological sophistication that is unparalleled globally. As the world’s largest electricity consumer, the nation has effectively completed its transition to a fully digital grid, with the National Energy Administration (NEA) reporting that grid investment reached 639.5 billion yuan in 2025, with more than half 321.8 billion yuan allocated to distribution networks of 110 kilovolts and below. This unprecedented infrastructure spending has created the foundation for the world’s most advanced metering ecosystem.
• By early 2025, the State Grid Corporation of China (SGCC) had achieved a smart meter coverage rate of 98% across its operating areas, enabling real-time data collection and remote control capabilities. The market is now entering a new phase driven by the technological maturation of earlier deployments. The “14th Five-Year Plan” has been instrumental in this progress, with the national smart meter coverage rate reaching 98.7% by 2025, effectively achieving full coverage for both residential and industrial-commercial users within the SGCC and China Southern Power Grid (CSG) territories.
• The evolution of the market is firmly anchored in a comprehensive regulatory and policy framework. A landmark development was the joint issuance of the “Basic Rules for Electricity Market Metering and Settlement” by the National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) in July 2025, effective October 1, 2025. This regulation is a cornerstone of the national strategy to build a unified electricity market, standardizing metering and settlement processes across all provinces.
• The State Administration for Market Regulation (SAMR) has also been active, issuing the “Compliance Guide for Metering Behavior of Public Enterprises in Urban Water, Electricity, and Gas Supply” in December 2025. This new regulation mandates the full lifecycle management of meters, from procurement to installation and end-of-life replacement, ensuring accuracy and protecting consumer rights.
• Technological advancements are a defining characteristic of the Chinese market. The integration of the Internet of Things (IoT) has been transformative, with NB-IoT communication becoming the mainstream standard, achieving a 92% penetration rate in SGCC’s smart meter tenders. This connectivity enables advanced functionalities such as multi-meter integration and photovoltaic integration. A significant trend is the emergence of a new generation of “smart IoT electricity meters” that feature hardware expandability and software upgradability, addressing the previous limitations of fixed-function legacy devices. This technological shift, supported by industry standards like the T/CEC 1131-2025 “Technical Specification for Smart Electricity Meter Quality Data Collection” and the Q/DGW10354-2025 “Functional Specification for Smart Electricity Meters,” is driving the creation of a more intelligent and responsive grid.
• The market also faces challenges, including the need to replace an aging installed base: of the approximately 350 million smart meters deployed by the end of 2024, nearly 120 million had been in operation for over eight years, approaching or exceeding their design life. This has created a massive replacement wave, with State Grid’s first metering equipment tender of 2025 alone amounting to 7.5 billion yuan.

Competitive Landscape of China Power Metering Market

• The competitive landscape of China’s power metering market is dominated by the two state-owned grid giants State Grid Corporation of China (SGCC) and China Southern Power Grid (CSG) which act as the primary drivers of demand through their massive centralized procurement tenders. In 2025, these tenders have been a major source of revenue for a select group of domestic manufacturers. The market is characterized by a high degree of concentration, with the top four companies (CR4) expected to exceed a 65% market share, and the top ten firms accounting for over 70%.
• Key players in this concentrated market include established manufacturers such as Wasion Group, which secured contracts for approximately 786,000 smart meters in SGCC’s first 2025 tender, valued at around RMB 185.71 million. Hangzhou Jutai Technology is another major winner, consistently securing significant contracts, including a RMB 141.9 million award. Other prominent listed companies actively participating in these tenders include Jiangsu Linyang Energy, Ningbo Canaan Smart, Hangzhou Xili Intelligent Technology, and Clou Electronics. The market is geographically concentrated, with most of these manufacturers headquartered in coastal provinces such as Zhejiang, Jiangsu, and Guangdong.
• Entry barriers are exceptionally high, primarily due to the dominance of centralized procurement by the state grid operators, which favors established firms with proven technology and scale. The need for compliance with stringent national and industry standards, such as those set by the China Electricity Council (CEC) and the State Administration for Market Regulation (SAMR), further raises the bar for new entrants. Pricing and transactional economics are largely determined by the competitive bidding process of the state grid tenders, which, while massive in scale, has placed downward pressure on unit prices.
• Transaction economics are also influenced by the shift from a mandatory 8-year replacement cycle to a new “accuracy-based replacement” model pioneered in Tianjin, which has saved approximately 660 million yuan by replacing meters only when they are found to be inaccurate. The investment landscape is heavily shaped by government policy, with the NEA actively encouraging private sector participation in grid investment, signaling a potential evolution in the competitive dynamics. Companies are now focusing on offering advanced solutions like IoT-enabled meters and data analytics platforms to differentiate themselves.

China Market Dynamics

Driver: Centralized Grid Investment and Massive Tender Programs
The scale of China's grid investment is the primary engine of its power metering market. With the NEA reporting total grid investment of 639.5 billion yuan in 2025, the State Grid and China Southern Power Grid operate the world’s largest centralized procurement programs. Their 2025 tenders are driving the replacement of aging meters and the deployment of advanced IoT devices, creating a multi-billion-yuan annual market for metering hardware.

Challenge: Managing the Transition to a New Generation of Meters
A significant challenge for the market is managing the transition from first-generation smart meters to a new generation of advanced IoT devices. With nearly 120 million of the 350 million meters installed by 2024 approaching the end of their life, utilities must orchestrate a massive, multi-year replacement cycle. This process is complicated by the need to integrate new technologies like NB-IoT and ensure interoperability with legacy systems.



Trend: The Rise of Smart IoT Electricity Meters
A major trend is the industry-wide shift from traditional smart meters to "smart IoT electricity meters." These new devices feature hardware expandability and software upgradability, allowing for remote updates and the integration of new functionalities like photovoltaic integration and demand response. This trend is expected to drive significant new investment as utilities upgrade their infrastructure to support a more flexible and intelligent grid.

Segment Analysis

China Power Metering Market By Phase
• Single-phase smart meters represent the dominant product segment in China, accounting for the vast majority of units procured by State Grid and China Southern Power Grid. These 220V devices are the standard for residential households, enabling real-time data collection and remote control. A single SGCC tender in 2025 typically includes millions of A-class single-phase smart meters, reflecting the massive scale of the residential market.
• Three-phase smart meters, while representing a smaller share of unit volume, are critical for China’s commercial and industrial sectors. These devices are essential for large commercial buildings, factories, and data centers, monitoring power quality and load balancing. The modernization of industrial infrastructure, driven by government initiatives, is expected to sustain demand for these higher-specification meters.

China Power Metering Market by Technology
• Smart meters have become the universal standard in China, with coverage reaching 98.7% by 2025. The technology is defined by advanced communication capabilities, with NB-IoT now the dominant communication protocol. A key technological evolution is the emergence of next-generation “smart IoT electricity meters” that offer hardware expandability, software upgradability, and integration with smart home ecosystems.
• Analog and early-generation digital meters are being rapidly phased out, with the national smart meter coverage effectively eliminating these legacy devices in grid-operated areas. The market is now focused on the retirement of first-generation smart meters and their replacement with advanced IoT models.

China Power Metering Market by End-user Industry
• Residential customers are the largest end-user segment by volume, with smart meter coverage reaching near-universal levels across urban and rural areas. The residential segment is the primary driver of the massive tender volumes from the state grid operators.
• Commercial customers, including offices, retail, and hospitality, represent a significant and growing segment for advanced metering solutions. The industrial segment, comprising the world’s largest manufacturing base, demands high-precision three-phase meters and data collection terminals for load management and energy efficiency. Utility customers, namely SGCC and CSG, are the unique and dominant end-users, leveraging their vast meter networks for grid management, outage detection, and system optimization.

China Power Metering Market By Application
• Billing and revenue assurance remain the foundational application of smart meters, ensuring accurate consumption measurement and revenue collection. The NDRC and NEA’s 2025 “Basic Rules for Electricity Market Metering and Settlement” is a testament to the regulatory importance of this application. However, the function is evolving to support dynamic pricing in the new unified electricity market.
• Energy management is a rapidly growing application, fuelled by the detailed interval data from smart IoT meters. With 92% of new meters supporting NB-IoT, consumers and businesses can access granular data for consumption optimisation.
• Grid management is a critical application for utilities, leveraging the network of smart meters to enhance grid stability and efficiency. The NEA has encouraged investment in smart microgrids, and the data from millions of smart meters is essential for managing distributed energy resources. Load monitoring and demand response are emerging applications enabled by the new two-way communication capabilities of next-generation meters, allowing for real-time load balancing and integration of renewable energy.


Considered in this report
• Historic Year: 2020
• Base year: 2025
• Estimated year: 2026
• Forecast year: 2031

Aspects covered in this report
• Power Metering Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Phase
• Single Phase
• Three Phase

By Technology
• Analog Meters
• Digital Meters
• Smart Meters

By End-user
• Residential
• Commercial
• Industrial
• Utility

By Application
• Energy Management
• Billing and Revenue Assurance
• Load Monitoring
• Demand Response
• Grid Management