The HVAC Sensors Market is estimated to surpass $2,407.41Million by 2023 growing at an estimated rate of more than 5.10% during 2017 to 2023 majorly driven by the introduction of new features in smart thermostats and the use of energy efficient devices. Further the growing emphasis towards various end-user industries like commercial, domestic and industrial building has also set to propel the market growth in the future.
What are HVAC Sensor?
HVAC or Heating Ventilating and Air Conditioning (HVAC) systems commonly used for reducing the energy consumed. They usually includes a sensing device that compares the actual state like temperature with a target state.
The HVAC sensors are the most important type of sensors used today as it compares the input temperature for a system with the temperature of a state of the room or building and further helps to adjust the required temperature and maintain the desired temperature. The HVAC sensors also handles the regulating and monitoring of various activities like air temperature, pressure and quality in end-users like commercial and residential buildings. Hence, HVAC sensors are being commonly used because the need of reducing energy consumed is increasing and leading to the enhancement of energy and its efficiency. Even the government and regulatory agencies are majorly focusing on how energy consumed in buildings can be improved by HVAC controls.
These HVAC sensors are mostly used in applications like duct, room, cable, wall, immersion and others which will play an important role in future.
This report incorporates an in-depth assessment of HVAC Sensors market by type of sensors, applications, end-user industry and geography. The major type of sensors encompassed in the scope includes temperature sensors, humidity sensors, pressure sensors, occupancy sensors, gas and volatile organic compound sensors and others.
What are the major end-user industry for HVAC Sensors?
The various end users assessed includes residential, commercial, industrial, automotive and others. The current business environment has become highly competitive as the leading industries are challenged by the demand for quality, safety, productivity and environmental protection HVAC systems have been extensively used in various applications over the past few years across the globe. Various sensors namely pressure sensors, temperature sensors and many more are gaining demand that enable HVAC systems to provide thermal comfort and good air quality in indoor and vehicular environment. Sensors in HVAC systems help in maintaining fully controlled indoor environments with low cost energy, these were designed to meet the demands from various end users for the concern about energy efficiency. Sensors are the key measuring quantities for HVAC systems. Deployment of this technology enables the management of energy in the existing buildings as well as newly constructed buildings through which it provides significant energy management opportunities.
Market Research and Market Trends of HVAC Sensors
- The market for HVAC equipment remains a highly dynamic and one of the major trend is the innovative senor technology (IST) AG and it can be used for temperature, flow, humidity, and differential pressure sensors.
- And, the other major trend is the introduction of standard P14 humidity sensor capacitor which is a passive humidity component and is being widely used in applications like RH+T transmitters, air ducts, as well as thermostats.
- One of key trends which has led to the growth of the HVAC sensors is the increasing development of Building Energy Management System.
- MFS 05 is among the latest generation of the MicroflowSensor series components and is the latest trend in the HVAC Systems.
- Emergence of new cost-effective technologies in various industrial sector like industrial and automotive has made HVAC Sensors an important equipment to be used in these sectors. This factor has become the major contributor to the growth of the market and the usage of these advanced technologies is expected to grow rapidly during the forecast period because of their important benefits over other type of sensors used today.
Who are the Major Players in HVAC Sensors market?
The companies referred to in the market research report includes Johnson Controls, Inc., Honeywell International, Inc., Siemens AG, Schneider Electric and Sensata Technologies, Inc.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
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- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.