The trends in the construction industry are changing continually with constant development in technology and innovation, followed by the rising demand for energy-efficient and low-cost HVAC systems and monitoring devices. Various market players are operating globally and striving hard to acquire a larger market share. This has led to the development of existing products and the launch of new products with advanced functions. For instance, in January 2021, TSI Incorporated has launched a new indoor air quality monitor Q-Trak XP Indoor Air Quality Monitor that delivers more data, with high efficiency. It unites gas and particle measurements with traditional IAQ parameters — in one lightweight, handheld instrument that is easy to use, configure and calibrate in the field. This monitor also provides flexibility by adding or deleting gas sensors, which helps expand indoor air quality assessment capabilities.
Honeywell International Inc., PCE Deutschland GmbH, Testo SE & Co. KGaA, Fluke Corporation, and Teledyne FLIR LLC. – Prominent Market Participants in Handheld HVAC Monitoring Device Market
Additionally, the constant increase in automation activities led to the rising demand for constant monitoring, especially in the production of volatile products and their storage. This has led to various technological integration, such as the Internet of Things (IoT) and artificial intelligence (AI), which helps in constant monitoring and issue warnings for operational abnormalities. Moreover, the increase in automation and the rising trend of smart homes have created a demand for effective and efficient HVAC systems and monitoring devices. The handled HVAC monitoring device market players are striving hard to cope with the consumer demand, which led to the increase in investments and strategic collaboration, supporting the growth of the handheld HVAC monitoring device market. Additionally, the COVID-19 pandemic has increased the demand for effective ventilation to lower the concentration of contaminants which in turn prevent the spread of the COVID-19 pandemic. Reopening commercial places will likely amplify the handled HVAC monitoring device market growth.
Honeywell International Inc., PCE Deutschland GmbH, Testo SE & Co. KGaA, Fluke Corporation, and Teledyne FLIR LLC are some of the key market players operating in the global handheld HVAC monitoring device market. The listing of key players is derived by considering multiple factors such as overall revenue, current handheld HVAC monitoring device product portfolio, geographical reach, new product launches, market initiatives, and investment in technology up-gradation, partnerships, and other market-related activities. In addition to these players, there are several other important players operating in the handheld HVAC monitoring device ecosystems which were studies analyzed during the course of this market research study, such as 3M; THERMO FISHER SCIENTIFIC INC.; TSI Incorporated; Aeroqual Ltd.; Met One Instruments Inc.; and Kanomax USA, Inc. Most of the market initiatives were observed in North America region, which have a high potential of market-related products, solutions, and services. Few of the important market initiatives from the industry are mentioned below:
| Year | Development | Region |
| 2022 | Kanomax USA exhibited at AHR Expo 2022 in Las Vegas, Nevada from Jan 31 to Feb 02. The AHR Expo provides a unique forum where manufacturers of all sizes and specialties come together to share ideas and showcase the future of HVACR technology. | North America |
| 2021 | TSI Incorporated has launched a new indoor air quality monitor Q-Trak™ XP Indoor Air Quality Monitor. It is designed for IAQ and industrial hygiene professionals | North America |
