According to the new market research report by IndustryARC titled “HVAC Sensors Market By Type (Temperature Sensors, Humidity Sensors, CO Sensors, CO2 Sensors, Air Velocity Sensors, Pressure Sensors, Flow Sensors, Others), By Application (Duct, Room, Cable, Wall, Immersion, Others), By End Use (Residential, Commercial, Industrial, Automotive) and Geography – Forecast (2018 – 2023)”, the market will be driven by a growing emphasis on industrial automation and growing concerns on maintaining good indoor air quality.
Asia Pacific Will Dominate the HVAC Sensors Market
Asia Pacific will dominate the HVAC Sensors Market in the coming years. It is expected to reach $ 1,068.65 million at a CAGR of 5.89 %. China is the largest manufacturer of HVAC products across the globe. This is due to the presence of many manufacturing industries. Growing infrastructural developments in different industries along with government initiatives are driving the demand for the HVAC sensors in the country. India is the fastest growing region for HVAC sensors due to the growth of construction activities in the infrastructural and real estate sector. Japan is the second largest manufacturer of HVAC systems in Asia Pacific region. In South Korea, many leading industries have established their production facilities in the region. This factor enhances the growth of temperature sensors in South Korea.
HVAC Sensors Market Analysis Done in the Full Report:
The commercial segment will dominate the HVAC Sensors Market in the coming years. In 2017, this segment earned revenue of $686.09 million. It will reach $879.18 million by 2023 at a CAGR of 4.22%. The commercial HVAC sensors can be used for larger capacity installation with central air conditioning and ducted systems that need various sensors to maintain the required temperature in commercial buildings. A commercial building can be made energy efficient with the help of HVAC sensors in the HVAC equipment along with the heating and cooling systems. The factors responsible for the growth of HVAC tools in the commercial segment include strict regulations, reduction in prices, and increase in consumer spending.
HVAC Sensors Market Growth Factors
• Growth of consumer electronics, automotive, and construction sectors spur the demand for the temperature control sensor. This demand is seen in developed countries due to the rise in population and increasing urbanisation.
• Rise in the consumer spending and growing urbanisation drives the growth of the HVAC sensors.
• Increasing demand for air conditioners in passenger cars elevates the growth of the temperature sensors in the coming years.
Key players of the HVAC Sensors Market
Johnson Controls and Honeywell International are the dominant players in the HVAC Sensors Market during the forecast period. Siemens AG Company is the third largest company in the market. Johnson Controls provides energy efficient solutions, integrated infrastructure, and intelligent buildings. It has formed a joint venture with Hitachi Appliances to improve the performance of their air conditioning products. Honeywell International is an American company that manufactures consumer and commercial products and offers different services. Siemens AG Company is the largest engineering company in Europe. It offers products and services in power and gas, power generation services, energy management, and building technologies.
Sample Report @ https://industryarc.com/Report/18046/hvac-sensors-market.html
The HVAC Sensors Market is Segmented as Below:
The growth of government regulations in industrial, commercial, and residential environments enhances the demand for the air conditioner temperature sensor.
A. HVAC Sensors Market By Type of Sensors
1. Temperature Sensors
2. Humidity Sensors
3. Pressure Sensors
4. Occupancy Sensors
5. Gas and Volatile Organic Compounds Sensors
6. Others (Air Quality)
B. HVAC Sensors Market By Application
4. Transportation and Logistics
C. HVAC Sensors Market Geography ( covers 17+ countries)
D. HVAC Sensors Market Entropy
E. Companies Citied / Interviewed
1. JOHNSON CONTROLS, INC.
2. SIEMENS AG
3. TE CONNECTIVITY CORPORATION
4. GREYSTONE ENERGY SYSTEMS INC.
5. HONEYWELL INTERNATIONAL, INC.
6. SENSATA TECHNOLOGIES INC.
7. ACAL BFI
9. OMRON CORPORATION
10. EMERSON ELECTRIC CO
What can you expect from the report?
The HVAC Sensors Market Report is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories
2. Market trends
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Demand Analysis (By Revenue & Volume)
12. Country level Analysis (15+)
13. Competitor Analysis
14. Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Strategic Analysis
18. Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Revenue and Volume Analysis
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