Indian smart meter market was valued at USD 219.7 million in the year 2023 which is projected to reach a value of USD 3179.5 million by the year 2032, registering a CAGR of 34.57% in the 2024-2032 period. Supportive government policies are giving a huge boost to the smart meter market in India. The Government of India aims to replace 250 million conventional meters with smart meters by the year 2027. Electricity smart meters make up about 58% of the smart meter market in India due to the rising demand for electricity across residential, commercial and industrial segments coupled with an increased focus on monitoring, management and optimisation of electricity. Smart meters are digital devices which measure and record electricity, gas or water consumption in real time and send the data to the utility companies. They provide accurate and up-to-date consumption data. Let’s have a look at the top 10 smart meter manufacturers in India for the year 2025.
1. Genus Power Infrastructures Limited
Genus Power Infrastructures Limited, founded in the year 1994, is one of the largest manufacturers of electricity smart meters with 27% share in this market. Its metering solutions division manufactures a wide range of smart electricity meters, such as multifunctional single phase meters, 3-phase meters, prepayment meters and more. Apart from electricity, the company also manufactures smart gas and water meters under the brand names of G-Setu and Salil respectively.
Genus Power provides smart metering solutions to residential, commercial and industrial sectors. The company operates several manufacturing facilities in Uttarakhand, Assam and Rajasthan with a combined area of around 700k square feet.
2. Smart Meters Limited
Smart Meters Limited, founded in the year 1987, is a major player in the metering domain with smart meters for electricity and gas figuring prominently in its product portfolio. It offers both transformer operated and direct connected electricity smart meters in both single and three-phase designs under multiple brand names like Premium, Liberty and i-Credit. The company also manufactures smart gas meters equipped with prepayment mode.
SML is based in Udaipur, India but also supplies its smart meters and other products to more than 60 countries all over the world. Furthermore, the company has manufacturing partnerships in Ghana and Malaysia.
3. Adani Energy Solutions Limited
Adani Energy Solutions Limited, established in the year 2013 as a part of the Adani Group, is one of the largest companies in the field of power transmission, distribution, smart metering and cooling. The company manufactures electricity smart meters equipped with a number of features like accurate readings and transparent billing, real-time electricity consumption monitoring, optimisation of power consumption and more.
AESL has more than 2.3 crore smart meters in its order book and is present in more than 16 states across India. It is also supplying smart meters to DISCOMs in Assam, Mumbai, Uttarakhand and Andhra Pradesh.
4. HPL Electric & Power Limited
HPL Electric & Power Limited, established in the year 1956, is a leading manufacturer of multiple electrical equipment like meters including smart meters, switchgears, wires and cables, modular switches and more. The company manufactures both three phase and single phase prepayment smart meters for domestic and commercial properties along with digital energy meters for industrial applications.
HPL operates 7 state-of-the-art manufacturing facilities located in Gurgaon, Kundali, Sonepat, Gharaunda, Jabli and Panipat. The company has a network over 900 distributors and more than 27000 retailers.
5. Itron
Itron, founded in the year 1977, is an American company with a presence in more than 100 countries worldwide, including India. It manufactures a wide range of electricity and water management products, including smart meters. The company manufactures smart electricity meters for residential, commercial and industrial establishments and markets them under various brand names like Centron, Gen5 and OpenWay.
Itron’s smart meters have a number of superior features like best digital accuracy, IoT compatibility, edge computing capability, automated readings and more.
6. Landis+Gyr
Landis+Gyr, established in the year 1896, is a Swiss manufacturer of smart meters for electricity, heat and gas utilities along with other products, with a presence in over 30 countries worldwide, including India. The company manufactures smart electricity meters equipped with advanced grid management technologies for commercial and industrial applications.
Landis+Gyr has provided smart meters and other energy management products to more than 3500 utility companies across the world. It holds ISO certification for quality and environmental processes.
7. Hexing Electrical Company Limited
Hexing Electrical Company Limited, founded in the year 1992, is a Chinese multinational company offering a wide range of electrical equipment to power utilities in more than 90 countries worldwide, including India. The company manufactures both single phase and 3-phase smart electricity meters equipped with multiple communication modules, built-in controls, pre-paid/post-paid switch and other features. In addition, the company also offers single and three-phase prepayment keypad smart meters.
8. Laxmi Electrical Control Systems Limited
Laxmi Electrical Control Systems Limited, established in the year 1981, is among the major manufacturers of smart meters in India. It manufactures three types of electrical smart meters, which are single phase smart meters in 5A-60A range, three phase smart meters upto 100A and three phase LTCT operated smart meters. The smart meters have multiple features like instantaneous measurement, reactive energy computation, relay detachment and more.
9. EMH Metering
EMH Metering, founded in the year 1991, is a German manufacturer of smart meters and other digital metering solutions for the energy sector. It operates in 50 countries worldwide, including India. The company offers electronic smart domestic meters and special meters for commercial and industrial applications which are equipped with state-of-the-art technologies like load profile measurement, consumption forecasting and more.
10. Allied Engineering Works Private Limited
Allied Engineering Works Private Limited, established in the year 2011, provides multiple electronic solutions, including smart meters. The company manufactures single phase smart meters, three phase smart meters and LTCT smart meters. Major features of the smart meters are built-in RF/replaceable cellular communication modem, remote connection/disconnection, two-way communication and plug-and-play installation.
Conclusion
Smart meters are crucial elements of the future energy grid of India and the top manufacturers of smart meters are going to play a major role in modernising and upgrading the energy infrastructure of the country. The smart meters market in India has just opened up and is set to grow exponentially in the coming years.
