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The HVAC Sensors & Controllers Market was worth USD 4.85 billion in 2014 and is expected to reach approximately USD 7.70 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 5.08% during the forecast period. HVAC (Heating, Ventilation and Air Conditioning) function on a control system to manage the task of a heating as well as air conditioning system. HVAC is the technology of vehicular and indoor atmospheric comfort. Its objective is to give thermal comfort and adequate indoor air quality. Normally a sensing device is utilized for the comparison of the real state (e.g. temperature) with an objective state. Because of the staggering expense of energy, HVAC systems should be effective, exact, and reliable.
The developing demand for sensors and controllers in the HVAC market is fundamentally bolstered by both the directions and the need to accomplish comfort, safety and accuracy in observing and controlling the indoor atmosphere. Expanding use of HVAC sensors and controllers in the automotive business combined with the development in the worldwide non-private development business is fundamentally driving the development of the worldwide market. Further, stringent government enactment and approaches for the usage of energy productive machines is decidedly affecting the market development.
Market Segmentation
The HVAC Sensors & Controllers Market is segmented on the basis of sensors, controllers and application. Based on sensors the market is segmented into Humidity Sensors, Gas and Volatile Organic Compounds Sensors, Temperature Sensors, Pressure Sensors and Occupancy Sensors. Based on controllers the market is segmented into Humidity Controllers, Enthalpy Controllers, Temperature Controllers and Universal Controllers. Based on application the market is segmented into Residential, Commercial, Transportation & Logistics and Industrial.
Regional Outlook and Trend Analysis
More than 33% of the worldwide HVAC sensors and controllers market's regional income share was held by North America in 2015. Europe and Asia Pacific rank second and third individually, while whatever is left of the world held the most minimal share for that year. Moreover, North America will develop at the quickest rate, holding its driving position over the forecast period. This area is vigorously driven by the need to lessen consumption of power, and the need to supplant more seasoned HVAC systems with current ones that hold enhanced connectivity.
Competitive Insights
The leading players in the market are Johnson Controls, Sensirion AG, Siemens, United Technologies Corporation, GREYSTONE ENERGY SYSTEMS INC, Infineon Technologies, Honeywell, Sensata Technologies Ltd and Emerson Electric. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The HVAC Sensors & Controllers Market is segmented as follows-
By Sensors: Humidity Sensors Gas and Volatile Organic Compounds Sensors Temperature Sensors Pressure Sensors Occupancy Sensors
By Controllers: Humidity Controllers Enthalpy Controllers Temperature Controllers Universal Controllers
By Application: Residential Commercial, Transportation & Logistics Industrial
By Region North America U.S. Canada Mexico Europe Germany UK France Russia Italy Rest of Europe Asia-Pacific China Japan South Korea India Southeast Asia Rest of Asia-Pacific South America Brazil Argentina Columbia South Africa Rest of South America Middle East and Africa Saudi Arabia UAE Egypt Nigeria South Africa Rest of MEA Some of the key questions answered by the report are: What was the market size in 2014 and forecast from 2015 to 2023? What will be the industry market growth from 2015 to 2023? What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast? What are the major segments leading the market growth and why? Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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