HVAC Sensors Market Size, Share, Statistics Report 2022, 2027

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)

Publication Month : Feb 2021

  • Report Code : TIPRE00011983
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 173
Inquire Before Buy

PRICING

$4550

$2730

The HVAC sensors market was valued at US$ 3,222.20 million in 2019 and it is expected to grow at a CAGR of 6.7% during 2020–2027.

The HVAC sensors market is growing owing to factors such as robust growing construction sector, increasing focus of government on building management systems, surging electricity costs, and rising use of HVAC sensors in the automobiles. Also, the increasing trend of smart homes and integration of HVAC systems with IoT are anticipated to fuel the growth of the HVAC sensors market during the forecast period. Also, HVAC sensors are commonly used in applications such as room, duct, cable, immersion, wall, and others. The demand from various application areas are expected to play a significant role in future.

Impact of COVID-19 Pandemic on HVAC Sensors Market

According to Electronic Components Industry Association (ECIA), the emergence of COVID-19 outbreak has caused delay in product releases, disruption in supply chain events, and other industry activities. Several manufacturers are temporarily halting the manufacturing units owing to the lesser demand for the products, as a result of lock down measures and limited manufacturing resources. The manufacturers of various electronic and semiconductor products, such as sensors, are experiencing substantial delay in lead times, which has weakened the supply chain. All these factors are hindering the HVAC sensors market.

Several equipment manufacturers across the globe are dependent on Chinese manufactured HVAC systems and HVAC sensors owing to cost effectiveness of the products. During the first quarter of 2020, numerous Chinese manufacturers temporarily shut their manufacturing facilities, thereby, showcasing decline in the supply and demand for electronics and semiconductor products worldwide. This also had an adverse effect on the HVAC sensors market.

Lucrative Regions in HVAC Sensors Market

Lucrative Regions in HVAC Sensors Market
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Market Insights–HVAC Sensors Market

Growth in Construction Sector Fuels Market Growth

The construction sector is experiencing a tremendous growth in developing economies, such as APAC, MEA, and SAM, with a heavy investment in commercial construction as well as infrastructural and institutional developments such as railway stations, bus stations, airports, and educational institutions. 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 building is boosting the installation of HVAC systems. Moreover, some of these economies are also planning to boost their industrial sector by offering favorable business environment to foreign investors and support to local industries. Made in China 2025, Make in India, Saudi Arabia National Industrial Development & Logistics Program, and UAE Strategy for the Fourth Industrial Revolution are among the initiatives taken by governments to support industrialization. Moreover, several foreign players are relocating their manufacturing facilities to low-cost economies in ASEAN region, which is anticipated to propel the industrial construction. Since, HVAC system is one of the integral systems in construction process, the deployment of HVAC systems is likely to increase with the rising construction activities. This factor, in turn, is expected to boost the HVAC sensors market during 2020–2027.

Type-Based 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.

HVAC Sensors Market, by Type (% Share)

HVAC Sensors Market, by Type (% Share)
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

End User-Based Insights

By end user, the HVAC sensors market is segmented into commercial, residential, and industrial. The demand for HVAC sensors is constantly surging among various end users mentioned above. The commercial segment dominated the market in 2019. The same segment is expected to continue its dominance during the forecast period owing to the fact that the commercial HVAC systems integrate higher number of sensors to maintain the desired parameters for a larger space. Also, the rising number of commercial HVAC system manufacturers is propelling the procurement of HVAC sensors, which is another driver for the growth of the HVAC sensors market for commercial segment.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

HVAC Sensors Market: Strategic Insights

hvac-sensors-market
Market Size Value inUS$ 3,222.20 Million in 2019
Market Size Value byUS$ 5,264.70 Million by 2027
Growth rateCAGR of 6.7% from 2020-2027
Forecast Period2020-2027
Base Year2020
Analyst Image

Naveen

Have a question?

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst

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.

The global HVAC Sensors market has been segmented as follows:


HVAC Sensors Market– by Type

  • Temperature Sensors
    • NTC
    • RTD
    • Thermocouple
    • Others
  • Humidity Sensors
  • Pressure & Flow Sensors
  • Motion Sensors
  • Smoke & Gas Sensors
  • Others

HVAC Sensors Market– by End User

  • Residential
  • Commercial
  • Industrial

HVAC Sensors Market–by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • Germany
    • France
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Middle East and Africa (MEA)

    • Turkey
    • South Africa
    • Rest of MEA
  • South America (SAM)

    • Brazil
    • Argentina
    • Rest of SAM

HVAC Sensors Market–Company Profiles

  • Siemens AG
  • Emerson Electric Co.
  • Honeywell International Inc.
  • Johnson Controls, Inc.
  • Schneider Electric
  • TE Connectivity Ltd.
  • Sensirion AG
  • Senmatic A/S
  • Sensata Technologies, Inc.
  • BELIMO AIRCONTROLS (USA), INC.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type and End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What are the driving factors responsible for the growth of HVAC sensors market?

The construction sector is experiencing a tremendous growth in developing economies, such as APAC, MEA, and SAM, with a heavy investment in commercial construction as well as infrastructural and institutional developments such as railway stations, bus stations, airports, and educational institutions. 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 building is boosting the installation of HVAC systems, thereby surging the demand for HVAC sensors market.

What are the market opportunities for HVAC sensors market?

As smart cities across the world are still under developing stage, various governments are taking initiatives for the development of smart cities in their respective economies. For instance, in 2021, under the Singapore’s smart city initiative, the government announced to build 42,000 homes connected to a single central air conditioning unit. Moreover, Indian government’s Smart Cities Mission was launched in 2015 with an objective to promote sustainable and inclusive cities that offer essential infrastructure as well as give a decent quality of life, together with a sustainable and clean environment and application of 'Smart' Solutions. The initiative of Indian government toward green and smart cities is adding impetus to the present HVAC industry in the country for the development of energy efficient and economical HVAC systems.

Which system type segment is expected to dominate the HVAC sensors market during the forecast period?

The demand for efficient HVAC systems is gradually increasing owing to rising electricity prices worldwide. Based on type, the HVAC sensors market is categorized into temperature sensors, humidity sensors, pressure and flow sensors, motion sensors, smoke and gas sensors, and others. Pressure sensors play a significant role in making HVAC systems efficient by measuring airflow and pressure for effective distribution of air. By measuring the pressure of each room as well as monitoring airflow, the HVAC system can optimize the heating, cooling, and airflow of the building, thereby helping in reducing energy consumption. Owing to this, the demand for technologically enhanced pressure sensors is high among the HVAC system manufacturers and the demand is foreseen to rise further during the forecast period.

The List of Companies - HVAC Sensors Market

  1. Siemens AG
  2. Emerson Electric Co.
  3. Honeywell International Inc.
  4. Johnson Controls, Inc.
  5. Schneider Electric
  6. TE Connectivity Ltd.
  7. Sensirion AG
  8. Senmatic A/S
  9. Sensata Technologies, Inc.
  10. BELIMO AIRCONTROLS (USA), INC.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to HVAC Sensors Market