Emergence of Green Structures to Propel HVAC Sensors and Controllers Market
The global HVAC sensors and controllers market is prognosticated to exhibit a healthy growth in the coming years, as reported by Transparency Market Research (TMR). The market’s vendor landscape is featured by intense diversification, and comprises of a large pool of global as well as regional players. New vendors are expected to focus on product quality, features, functionality and services. Market participants are additionally predicted to offer customization in order to gain differentiation in their product portfolio and gain an edge over their competitors. Global vendors are supposed to have a strategic advantage over regional vendors on account of constant advances in technology. Some prominent vendors in the global HVAC sensors and controllers are Siemens AG, Johnson Controls, Honeywell International Inc., Schneider Electric, and Infineon Technologies AG.
As reported by TMR, the global HVAC sensors and controllers market is envisaged to exhibit a steady 6.9% CAGR over 2015 to 2024, the duration of forecast. The global market was evaluated to be at US$5.18 in 2015, and is forecasted to reach US$9 bn by the end of 2024.
Based on the applications segment, transportation and logistics held nearly 40% of the overall market in 2015, and the trend is expected to continue over the coming years. Geographically, the global HVAC sensors and controllers market is predicted to be dominated by North America, on account of the high demand for low power consumption, coupled with the need to replace existing HVAC systems with modern ones.
Global Climate Change to Provide Headwinds to Market Growth
The changes in the climatic conditions is driving the demand over the globe for HVAC systems in the most recently built structures, including residential spaces. Therefore, the demand for cutting edge HVAC controls will likewise increment in these private and non-private structures.
Government enactment and strategies for the utilization of energy productive machines is further energizing the development of the market. It takes out the requirement for human impedance for keeping up the temperature in a building, in this way expanding the security, particularly in unsafe and complex setups in modern structures. Over a longer duration of time, HVAC controls help decrease both energy utilization and cost. Upsurge in the arrangement of HVAC hardware in business, household and mechanical structures will make demand for proficient and viable control systems and demand for HVAC sensors in developing economies, for example, China and India is additionally fuelling the growth of the global HVAC sensors and controllers market.
Uptake by Smart Buildings to Provide Lucrative Market Opportunity
The ascent in the selection of smart and green building is expected to augment the utilization of smart sensors and HVAC systems, for example, programmable indoor regulators, which would spare a ton of energy in these structures. The utilization of HVAC controls in business structures guarantees turning on or off the HVAC hardware in a specific zone, which isn't at present involved. In a large businesses, every one of the regions are not continually possessed by various individuals; henceforth to sense inhabitance of the general population in a zone, HVAC controls assume an imperative part by empowering productive utilization of energy. The global HVAC sensors and controllers market is predicted to be supported further by expanding government help with the type of motivators and rising consumer awareness with regards to energy saving measures.
This review is based TMR’s report titled, “HVAC Sensors & Controllers Market (Sensors - Temperature Sensors, Humidity Sensors, Pressure Sensors, Gas and Volatile Organic Compounds Sensors, Occupancy Sensors; Controllers Type - Temperature Controllers, Humidity Controllers, Universal Controllers, Enthalpy Controllers) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”
The market is segmented along the following lines:
Global HVAC Sensors & Controllers Market, by Sensors
- Temperature Sensors
- Humidity Sensors
- Pressure Sensors
- Gas and Volatile Organic Compounds Sensors
- Occupancy Sensors
Global HVAC Sensors & Controllers Market, by Controllers
- Temperature Controllers
- Humidity Controllers
- Universal Controllers
- Enthalpy Controllers
Global HVAC Sensors & Controllers Market, by Application:
- Transportation & Logistics
Global HVAC Sensors & Controllers Market, by Geography: The market is broadly segmented on the basis of geography into:
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Rest of the World
- Latin America
- Middle East
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to industry leaders, consultants, and strategy professionals.
Our reports are single-point solutions for industries to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These demands are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for client-specific problems with right methodology of research is the key to help enterprises reach right decision.
U.S. Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
7 of 10 large enterprizes view our ToC to take the right decision.View Report ToC