HVAC market was valued at US$5.18 bn in 2015 and is expected to reach
US$9.34 bn by 2024, growing at a CAGR of 6.9% during forecast period.
The growing demand for sensors and controllers in the HVAC market is
primarily supported by both the regulations and the need to achieve
comfort, accuracy and safety in monitoring and controlling the indoor
climate. Increasing application of HVAC sensors & controllers in
the automotive industry coupled with the growth in the global
non-residential construction business are primarily driving the
growth of the global market. Further, stringent government
legislation and policies for the use of energy efficient appliances
is positively impacting the market growth. The healthy economic
growth of emerging markets such as China, South Korea, India, Japan,
Middle East and Latin America is also boosting the growth of newest
technologies, which is in turn is increasingly fuelling the demand
for HVAC sensors & controllers. These factors are in total set to
bolster the growth of the global market during the forecast period
from 2016 to 2024.
HVAC Sensors & Controllers Market Information:
Based on sensors, the global market is segmented into temperature
sensors, humidity sensors, pressure sensors, gas and volatile organic
compounds sensors and occupancy sensors. Temperature sensors segment
dominated the HVAC sensors & controllers market in 2015 and is
expected to witness robust growth during the forecast period. The
growth of temperature sensors segment during the forecast period is
attributed to the requirement of shorter reaction time, higher
measuring precision, and easy installation features among others.
By controllers, the HVAC sensors and controllers market has been
divided into four segments, namely: temperature controllers, humidity
controllers, universal controllers and enthalpy controllers.
Universal controllers occupied the largest share of the market in
2015. Growth of universal controllers segment is attributed to the
rising concern for maintaining the indoor air quality in commercial
as well as residential buildings.
The global HVAC sensors & controllers market has been segmented
by applications into commercial, residential, industrial and
transportation & logistics. Commercial applications have been
further classified into retail, hospitals and others. Transportation
& logistics application segment dominated the global HVAC sensors
& controllers market in 2015 and is expected to continue its
dominance throughout the forecast period. HVAC sensors &
controllers are aimed at providing comfortable cabin atmosphere and
they play an important role in logistics vehicles for the
transportation of temperature sensitive products.
By geography, the HVAC sensors & controllers market has been
classified into North America, Europe, Asia Pacific and Rest of the
World. The largest share of the global market was acquired by North
America in 2015. Europe followed the North American market closely
and these two regions conjointly held more than 60% of the global
market in 2015. Asia Pacific is projected to be the fastest growing
region in the HVAC sensors & controllers market during the
forecast period. Rising population, increasing income level, a
revival in the housing markets, growing industrial base and the
development of reliable and renewable energy resources are some of
the major drivers that are propelling the growth of the HVAC sensors
& controllers market in this region.
Brochure for Technological Aspects of HVAC Sensors &
Controllers at:
Some of the major players in the HVAC sensors & controllers
market are: Honeywell International Inc. (U.S.), Emerson Electric
(U.S.), Siemens AG (Germany), Schneider Electric (U.S.), Johnson
Controls (U.S.), United Technologies Corporation (U.S.), Sensata
Technologies Inc. (U.S.), Greystone Energy Systems Inc. (U.S.),
Sensirion AG (Switzerland), Infineon Technologies AG (Germany) among
others.
This report offers a comprehensive analysis of the global market. It
also provides the HVAC sensors & controllers market estimates, in
terms of the revenue (USD billion) for the forecast period from
2016-2024. Additionally, the global market is segmented on the basis
of sensors, controllers and applications. A cross sectional analysis
of the global market broadly across four geographic regions has been
covered under the scope of the study.
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