LONDON--(BUSINESS WIRE)--Technavio has been monitoring the HVAC sensors market and it is poised to grow by USD 2.03 billion during 2020-2024, progressing at a CAGR of over 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions-
- Based on segmentation by application, which is the leading segment in the market?
- The automotive segment is expected to be the leading segment based on application in the global market during the forecast period.
- What are the major trends in the market?
- Advent of smart HVAC systems is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of over 5%, the incremental growth of the market is anticipated to be USD 2.03 billion.
- Who are the top players in the market?
- ABB Ltd., Emerson Electric Co., Greystone Energy Systems Inc., Honeywell International Inc., Johnson Controls International Plc, Schneider Electric SE, Senmatic AS, Sensirion AG, Siemens AG, and TE Connectivity Ltd. are some of the major market participants.
- What are the key market drivers and challenges?
- Advances in temperature sensors is one of the major factors driving the market. However, the cybersecurity issues in HVAC control systems restraints the market growth.
- How big is the APAC market?
- The APAC region will contribute 51% of market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Emerson Electric Co., Greystone Energy Systems Inc., Honeywell International Inc., Johnson Controls International Plc, Schneider Electric SE, Senmatic AS, Sensirion AG, Siemens AG, and TE Connectivity Ltd. are some of the major market participants. The advances in temperature sensors will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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HVAC Sensors Market 2020-2024: Segmentation
HVAC Sensors Market is segmented as below:
- Geographic Landscape
- North America
- APAC
- Europe
- South America
- MEA
- Application
- Automotive
- Residential
- Commercial
- Industrial
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HVAC Sensors Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The HVAC sensors market report covers the following areas:
- HVAC Sensors Market Size
- HVAC Sensors Market Trends
- HVAC Sensors Market Analysis
This study identifies advent of smart HVAC systems as one of the prime reasons driving the HVAC sensors market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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HVAC Sensors Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist HVAC sensors market growth during the next five years
- Estimation of the HVAC sensors market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the HVAC sensors market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of HVAC sensors market vendors
Table of Contents:
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application placement
- Automotive - Market size and forecast 2019-2024
- Residential - Market size and forecast 2019-2024
- Commercial - Market size and forecast 2019-2024
- Industrial - Market size and forecast 2019-2024
- Market opportunity by Application
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
- Vendor Analysis
Vendors covered
- Market positioning of vendors
- ABB Ltd.
- Emerson Electric Co.
- Greystone Energy Systems Inc.
- Honeywell International Inc.
- Johnson Controls International Plc
- Schneider Electric SE
- Senmatic AS
- Sensirion AG
- Siemens AG
- TE Connectivity Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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