Air conditioning demand drives HVAC sensors & controllers sales. Global air conditioner demand rose 8% to 110.6 million units in 2017.
HVAC Sensors & Controllers Market
The HVAC sensors & controllers market is driven by the rising demand for air conditioning systems. In 2017, the global air condition system demand was about 110.6 million units, a rise of about 8% from the previous year. Major countries contributing to this growth were the U.S. and China. The U.S and China contributed to almost 60% of the global air conditioning systems stock in 2016. Annual AC sales in the U.S. were about 24 million units during the same year. Further, in 2016, it was estimated that the residential air conditioning systems sales in China alone were about 40 million units. Thus, it is expected that rising demand for air conditioning systems will propel the HVAC sensors & controllers market during the forecast period.
Rising demand for smart HVAC systems is anticipated to drive the HVAC sensors & controllers market over the estimated timeframe. However, high initial investments for HVAC sensors & controllers are expected to have an adverse effect on the market. Integration of IoT with HVAC systems will open new avenues for the HVAC sensors & controllers market.
The HVAC sensors & controllers market is bifurcated into sensors, controllers, and region. Based on sensor, the global HVAC sensors & controllers market is segmented into temperature sensors, pressure sensors, humidity sensors, and others. The temperature sensors segment is estimated to hold a noteworthy chunk of the market during the forecast period. Temperature controllers, humidity controllers, enthalpy controllers, and others form the controllers segment for HVAC sensors & controllers market. Humidity controllers segment is estimated to grow at notable rate over the coming years. This upsurge is due to the growing demand in the industrial sector.
Asia Pacific region is expected to grow a significant rate in global HVAC sensors & controllers market over the forecast timespan. This growth is due to the presence of major HVAC organizations in this region such as Panasonic Corporation, Samsung Electronics Co. Ltd., LG Electronics Inc., and many more. Technological developments in the consumer electronics sector in Asia Pacific region are fueling the growth of HVAC sensors & controllers market. The European region is projected to hold a substantial share in the global HVAC sensors & controllers market. This share is attributed to the presence of major players such as Schneider Electric, Siemens AG, and Sensirion AG among others.
Detailed analysis of the major players in the global HVAC sensors & controllers market includes their financial overview, business strategies, recent developments, and the product offered by them in the market. Key competitors included in this report are Schneider Electric, Johnson Controls, Siemens AG, Honeywell International, Inc., United Technologies Corporation, Sensirion AG, Sensata Technologies, Infineon Technologies AG, and Emerson Electric Co. among others.
This report segments the global HVAC sensors & controllers market as follows:
Global HVAC Sensors & Controllers Market: Sensors Segment Analysis
Global HVAC Sensors & Controllers Market: Controllers Segment Analysis
Global HVAC Sensors & Controllers Market: Application Segment Analysis
Global HVAC Sensors & Controllers Market: Regional Segment Analysis
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