HVAC Sensors Market size is registering at a CAGR of 6.7% during 2020–2027
NEW YORK, UNITED STATES, November 2, 2022 /EINPresswire.com/ — HVAC Sensors Market Forecast to 2027 – COVID-19 Impact and Global Analysis By Type (Temperature Sensors, Humidity Sensors, Pressure & Flow Sensors, Motion Sensors, Smoke & Gas Sensors, and Others) and End User (Residential, Commercial, and Industrial)
The HVAC sensors market size is expected to reach US$ 5,264.70 million by 2027 and registering at a CAGR of 6.7% during 2020–2027, according to a new research study conducted by The Insight Partners.
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Surge in Demand for Smart HVAC Systems is Creating Business Opportunities to Market Players
The HVAC industry is growing at a faster rate in North America, Europe, and Asia Pacific with an advent of supporting IoT sensors. China, India, the US, Germany, and the UK are among the countries that are strongly adopting HVAC systems. Further, rising demand from South Asian countries is strongly supporting the market growth. For instance, according to IEA report, the Southeast Asia is expected to reach the consumption of 300 million units by 2040. The increasing pollution and rising demand for energy-saving smart technologies, such as smart HVAC systems, are expected to accelerate the market growth during the forecast period.
Strategic Insights:
The HVAC sensors market is highly fragmented with the presence of global as well as regional players. Several regional players offer conventional HVAC sensors at low prices. However, the advancements in technology by the international players is increasing the demand for advanced HVAC sensors.
• In 2020, Siemens introduced two variants of the new PM2.5 duct type fine dust sensor for indoor HVAC application.
• In 2020, Johnson Controls introduced the new Metasys 10.0, a unified building management system. The system is integrated with new hardware devices such as the 4-in-1 network sensor series.
HVAC Sensors Market Type Insights
Based on type, the HVAC sensors market is segmented into temperature sensors, humidity sensors, pressure & flow sensors, motion sensors, smoke & gas sensors, and others. The temperature sensors segment led the market in 2019. Temperature sensors are essential for maintaining air temperature. There are different types of temperature sensors such as indoor temperature sensor, indoor evaporator line temperature sensor, outdoor ambient temperature senor, outdoor condenser line temperature sensor, and outdoor unit compressor exhaust temperature sensor. The temperature sensors segment is further segmented into NTC, RTD, thermocouple, and others.
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The growth of the global HVAC sensors market is mainly attributed to robust growth in construction sector in developed and developing nations. HVAC sensors are commonly used in applications such as room, duct, cable, immersion, wall, and others. The various application areas are expected to play a significant role in future. This rapid growth of the construction sector is attributed to the rising urban population demanding better standard of living. Further, the rise in commercial construction such as shopping malls, recreational centers, cinema halls, and office buildings is boosting the installation of HVAC systems.
Requirement for automatic and well-regulated air-conditioning in automobiles is constantly growing. The advancement in HVAC sensors used in automobiles enables zone-wise climate control and provides protection from external harmful gases and odor. Moreover, the automotive manufacturers are making constant efforts to further improve the vehicle comfort concerning climate. For instance, the integration of carbon-dioxide (CO2) sensors in automotive HVAC systems is one of the significant developments in the automotive HVAC systems market. According to Organisation Internationale des Constructeurs d’Automobiles (OICA), ~91.3 million vehicles were sold across the world in 2019. These developments coupled with rising automotive sales are propelling the growth of the HVAC sensors market.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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November 02, 2022, 13:43 GMT
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