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Smart Meter Manufacturing in the UK Industry Data and Analysis
Over the five years through 2025-26, the UK smart meter manufacturing industry’s revenue is expected to rise at a modest compound annual rate of 0.4%. Revenue is projected to edge up by 0.9% in 2025-26 to £1.4 billion. This performance has been driven by a policy reset that introduced clear, enforceable rollout mandates for smart meters, providing manufacturers with market certainty and a sustained flow of orders from energy suppliers. However, as rollouts reach a 70% UK penetration rate according to data from the Department for Energy Security and Net Zero, the industry is clearly approaching a saturation point. Despite these signs of plateauing demand, profitability remains resilient. Industry profit is expected to climb to 9.6% in 2025-26, supported by the easing global semiconductor shortage and the shift to more premium, technically advanced SMETS2 meter replacements.
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What's included in this industry analysis
IBISWorld's research coverage on the Smart Meter Manufacturing industry in the United Kingdom includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released January 2026.
About this industry
What's this industry report about?
The Smart Meter Manufacturing industry in the United Kingdom operates under the SIC industry code SP0.010. Companies in this industry manufacture smart meters, which are electrical, gas or water meters that record consumption information and communicate this information to utility companies for monitoring and billing purposes. Related terms covered in the Smart Meter Manufacturing industry in the United Kingdom include smart meter, first-generation smart meters (smets1) and second generation smart meters (smets2).
What's included in this industry?
Products and services covered in Smart Meter Manufacturing industry in the United Kingdom include Electric meters , Gas meters and Water meters .
What companies are included in this industry?
Companies covered in the Smart Meter Manufacturing industry in the United Kingdom include Landis + Gyr Ltd, Secure Meters (UK) Ltd and Eaton Electric Ltd.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Smart Meter Manufacturing industry in the United Kingdom.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Smart Meter Manufacturing industry in the United Kingdom.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Smart Meter Manufacturing industry in the United Kingdom.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Smart Meter Manufacturing industry in the United Kingdom. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Smart Meter Manufacturing industry in the United Kingdom. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Smart Meter Manufacturing industry in the United Kingdom. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Smart Meter Manufacturing industry in the United Kingdom. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Smart Meter Manufacturing industry in the United Kingdom.
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Frequently Asked Questions
What is the market size of the Smart Meter Manufacturing industry in the United Kingdom in 2026?
The market size of the Smart Meter Manufacturing industry in the United Kingdom is £1.4bn in 2026.
How many businesses are there in the Smart Meter Manufacturing industry in the United Kingdom in 2026?
There are 714 businesses in the Smart Meter Manufacturing industry in the United Kingdom, which has grown at a CAGR of 3.7 % between 2021 and 2026.
How may import tariffs affect the Smart Meter Manufacturing industry in the United Kingdom?
The Smart Meter Manufacturing industry in the United Kingdom is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Smart Meter Manufacturing industry in the United Kingdom?
The Smart Meter Manufacturing industry in the United Kingdom is likely to be impacted by export tariffs with exports accounting for a moderate share of industry revenue.
Has the Smart Meter Manufacturing industry in the United Kingdom grown or declined over the past 5 years?
The market size of the Smart Meter Manufacturing industry in the United Kingdom has been growing at a CAGR of 0.4 % between 2021 and 2026.
What is the forecast growth of the Smart Meter Manufacturing industry in the United Kingdom over the next 5 years?
Over the next five years, the Smart Meter Manufacturing industry in the United Kingdom is expected to decline.
What are the biggest companies in the Smart Meter Manufacturing industry in the United Kingdom?
The biggest companies operating in the Smart Meter Manufacturing industry in the United Kingdom are Landis + Gyr Ltd, Secure Meters (UK) Ltd and Eaton Electric Ltd
What does the Smart Meter Manufacturing industry in the United Kingdom include?
Electricity smart meters and Gas smart meters are part of the Smart Meter Manufacturing industry in the United Kingdom.
Which companies have the highest market share in the Smart Meter Manufacturing industry in the United Kingdom?
The company holding the most market share in the Smart Meter Manufacturing industry in the United Kingdom is Landis + Gyr Ltd.
How competitive is the Smart Meter Manufacturing industry in the United Kingdom?
The level of competition is high and increasing in the Smart Meter Manufacturing industry in the United Kingdom.
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