Europe HVAC Sensors Market
The Europe HVAC sensors market is expected to grow from US$ 918.96 million in 2019 to US$ 1,527.50 million by 2027; it is estimated to grow at a CAGR of 6.9 % from 2020 to 2027.
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The Business Market Insights provides you regional research analysis on “Europe HVAC Sensors Market” and forecast to 2027. The research report provides deep insights into the regional market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the Europe HVAC Sensors market during the forecast period, i.e., 2020-2027.
Growth of smart cities across Europe region is expected to escalate the Europe HVAC sensors market. As smart cities across the European developing countries are still under developing stage, various governments are taking initiatives for the development of smart cities in their respective economies. The initiative of European government toward green and smart cities is adding impetus to the present HVAC industry in the Europe for the development of energy efficient and economical HVAC systems. This has resulted in shifting the focus of HVAC market players to Europe market. Further, the European Commission (EC), under its Smart Cities Initiative aims to significantly promote energy-efficient and low carbon technologies. The increasing focus of governments across Europe for the Smart Cities development is anticipated to further create a demand for HVAC sensors, which will drive the Europe HVAC sensors market during forecast period.
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Major key players covered in this report:
• BELIMO AIRCONTROLS (USA), INC.
• Emerson Electric Co.
• Honeywell International Inc.
• Johnson Controls, Inc.
• Schneider Electric
• Senmatic A/S
• Sensata Technologies, Inc.
• Sensirion AG
• Siemens AG
• TE Connectivity Ltd.
Strong adoption of the HVAC systems among commercial buildings, homes, and the automotive sector is driving the growth of the Europe HVAC sensors market. The increasing pollution norms and growing concerns toward energy consumption have fueled the adoption of advanced sensors for HVAC systems. Further, companies are developing advanced HVAC sensors to improve the efficiency of HVAC system. For instance, in March 2020, BELIMO, a Switzerland-based company introduced new ultrasonic flow sensors for the HVAC application. These inline flow sensors are equipped with automatic glycol measurement and compensation features for maximizing HVAC system efficiency. The increasing development in the sensors to improve the system efficiency is mounting the growth of the market in the industrial, commercial, and residential sectors.
In Europe, the demand for HVAC sensors is propelled by the stringent government regulations for efficient building management systems. Also, the presence of robust automotive manufacturing units in Europe is propelling the demand for HVAC sensors used in automobiles. The governments in the Europe region are focusing on the development of tourism industry and growth of industrial sector, which is expected to boost the demand for HVAC systems in the region.
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Europe HVAC Sensors market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the Europe HVAC Sensors market segments and regions.
Europe HVAC Sensors Market Segmentation
Europe HVAC Sensors Market – By Type
• Temperature Sensors
• NTC
• RTD
• Thermocouple
• Others
• Humidity Sensors
• Pressure & Flow Sensors
• Motion Sensors
• Smoke & Gas Sensors
• Others
Europe HVAC Sensors Market – By End User
• Residential
• Commercial
• Industrial
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The research on the Europe HVAC Sensors market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the Europe HVAC Sensors market on the basis of end user, product type, application, and demography for the forecast period 2020-2027. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.
This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the Europe HVAC Sensors market.
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