The overall growth in
the construction sector with new offices and buildings being constructed every year
is creating a demand influx in the HVAC industry, and it is subsequently
influencing the HVAC sensors market which is poised to witness a valuation of
$2407.41 million by the end of 2023. Furthermore, the forecast period will
observe an increment in the demand for HVAC sensors at a CAGR of 5.10%, as per
the findings documented in a recently published report by IndustryARC.
The HVAC sensors market
research report title, “HVAC Sensors Market: By Type (Temperature, Humidity,
Pressure & Flow, Motion), By Application (Vent & Duct, Cables, Outdoors,
Walls, Pipes & Tanks), By End Users (Residential, Commercial, Industrial
& Automotive); Geographic Analysis – Forecast (2018-2023)” is compiled with
all the facts, figures, and statistics that will provide a peek into the
dynamics of the HVAC sensors market. Furthermore, the analyst has listed out
trends, opportunities, and foreseeable challenges that will be disrupting the
HVAC sensors market.
HVAC Sensors Market:
Geographical Analysis & Leading Segments
APAC had the maximum
HVAC sensors market with a regional valuation of $758.23 million as of 2017.
This is attributable to the expansion of the real estate sector in order
fulfill the infrastructural demand of the projected rise in the population.
Furthermore, the commercial sector is booming in countries such as Japan,
China, India, and others, which creates a demand for HVAC systems, and a
subsequent demand for HVAC sensors.
APAC HVAC sensors market
is followed by North America, which also happens to be a lucrative HVAC sensors
marketplace owing to the demand from the US. According to Energy Saver in the
U.S. Department of Energy’s (DOE), three-quarters of the homes in the US have
air-conditioners, and they are attributed to utilizing 6% of the overall
electricity-consumption in the country.[1] HVAC
sensors help to gauge temperature and reduce electricity-consumption. The
sensors play the same role in storage water heaters too. The Air-conditioner,
Heating, & Refrigeration Institute (AHRI) assessed that the US shipments of
the residential gas storage water heaters for December 2017 grown moderately as
compared to December 2016, and 387,947 units were shipped.[2] This
growth in the shipment of gas storage water heaters created demand for HVAC
sensors that were used in the water heaters.
The key end-use industry
in the HVAC sensors market is found to be in the real estate sector, and the
application will grow at a CAGR of 6.29% during the forecast period 2018-2023.
This is because of the increase in real estate construction activities across
the globe in order to fulfill housing requirement of the world population.
HVAC Sensors Market:
Trends and Growth Drivers
· Automotive
Industry Offering Opportunities –
According to the International Organization of
Motor Vehicles Manufacturers (OICA), the number of vehicles produced in 2017
was 97.3 million.[3] Most
of the vehicles, especially, passenger ones are incorporated with
air-conditioners, which require HVAC sensors. The increase in production of
vehicles created a demand for HVAC sensors.
· The Need for
Energy Management is driving the HVAC Sensors Market –
There is a growing concern pertaining to the consumption
of electricity, and therefore, it has become imperative to use gadgets that can
help save energy. HVAC sensors help in saving energy as they keep track of
temperature in HVAC systems. A user can adjust the temperature and avoid
extraneous consumption of energy. The need for energy management is creating
opportunities in the HVAC sensors market.
HVAC Sensors Market:
Competitive Landscape
Some of the key
companies identified in the HVAC sensors market intelligence report that are
striving to capitalize on the customer-base are Johnson Controls, Inc.,
Honeywell International, Inc., Siemens AG, Schneider Electric, Sensata
Technologies, Inc., and others.
Talk to one of our sales
representative about the full report by providing your details in the link
below:
https://www.industryarc.com/support.php?id=18046
Related Reports:
a) Temperature Sensors Market
https://www.industryarc.com/Report/123/global-temperature-sensors-market.html
b) IoT Sensors Market
https://www.industryarc.com/Report/18893/iot-sensors-market
c) RTD Temperature Sensors Market
https://www.industryarc.com/Report/18871/rtd-temperature-sensors-market
d) Pressure Sensors
Market
https://www.industryarc.com/Report/11706/pressure-sensors-market.html
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 & Applications
11. Demand Analysis (Revenue & Volume)
2. Market trends &
Relevant Market
Data
12. Country level
Analysis
3. Manufacturer
Landscape
13. Competitor
Analysis
4. Distributor Landscape
14. Market
Shares Analysis
5. Pricing Analysis
15. Value
Chain Analysis
6. Top 10 End user
Analysis
16. Supply Chain
Analysis
7. Product Benchmarking
17. Strategic
Analysis
8. Product Developments
18. Current
& Future Market Landscape
Analysis
9. Mergers &
Acquisition Analysis
19.
Opportunity Analysis
10. Patent Analysis
20.
Revenue and Volume Analysis
Frequently
Asked Questions:
Q. Does IndustryARC
provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting
data from our database of reports and annual subscription databases. We can
provide the following free customization:
1. Increase the level of
data in application or end user industry.
2. Increase the number
of countries in geography chapter.
3. Find out market
shares for other smaller companies or companies which are of interest to you.
4. Company profiles can
be requested based on your interest.
5. Patent analysis,
pricing, product analysis, product benchmarking, value and supply chain
analysis can be requested for a country or end use segment.
Any other custom
requirements can be discussed with our team, drop an e-mail to [email protected] to discuss
more about our consulting services.
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About IndustryARC: IndustryARC is a research and consulting firm
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Agriculture, Automotive, Automation & Instrumentation, Chemicals and
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Technology, and Life sciences and Healthcare.
References -
[1] https://www.energy.gov/energysaver/home-cooling-systems/air-conditioning
[2] http://www.ahrinet.org/App_Content/ahri/files/Statistics/Monthly%20Shipments/2017/December_2017.pdf
[3] http://www.oica.net/category/production-statistics/2017-statistics/