Europe HVAC Sensors Market is expected to reach US$ 1,527.50 million by 2027

Commercial Segment to Dominate Europe HVAC Sensors Market during 2019–2027

According to The Insight Partners market research study on “Europe HVAC Sensors Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Type and End User,” is expected to reach US$ 1,527.50 million by 2027 from US$ 918.96 million in 2019. The market is estimated to grow at a CAGR of 6.9 % from 2020 to 2027. The report provides trends prevailing in the Europe HVAC sensors market along with the drivers and restraints pertaining to the market growth. The rising demand for HVAC sensors in the automotive sector and increasing construction sector are the major factor driving the growth of the Europe HVAC sensors market. However, complication related to motion-activated air conditioners hinder the growth of Europe HVAC sensors market.            

In case of COVID-19, Europe is highly affected specially the UK. The European HVAC sensors manufacturers experienced a lower demand rate from the European as well as international HVAC system manufacturers. The European semiconductor manufacturers have observed and are also experiencing tough times to supply their products in adequate quantities to respective customers. This is majorly due to the significant disruption in raw material supply chain business. The semiconductor components or sensor manufacturers are witnessing two or more weeks of delay in receiving raw materials, which is pressurizing the manufacturers to slow down the production pace, which is showcasing the declination trend in revenue generation. The UK and France have numerous HVAC systems and HVAC sensors manufacturers, while the Russia has significantly large number of HVAC equipment manufacturers. The emergence of COVID-19 virus has negatively impacted the businesses of European HVAC systems manufacturers as well as HVAC sensors market players. Additionally, the UK, France, Germany, and Italy have been observing the second wave of COVID-19 over the past couple of weeks, which has again compelled the manufacturers to restrict their production unit workforce, resulting in deceleration in HVAC sensors demand.

The Europe HVAC sensors market is segmented into type, end user, and country. Based on type, Europe HVAC sensors market is segmented into the temperature sensors, humidity sensors, pressure & flow sensors, motion sensors, smoke & gas sensors, and others. The temperature sensors segment dominated the market in 2019 and pressure & flow sensors segment is expected to be fastest growing during forecast period. The temperature sensors segment is further sub-segmented into NTC, RTD, thermocouple, and others. Based on end user, Europe HVAC sensors market is segmented into the residential, commercial, and industrial. The commercial segment dominated the market in 2019 and residential segment is expected to be fastest growing during forecast period.

BELIMO AIRCONTROLS (USA), INC.; Emerson Electric Co.; Honeywell International Inc.; Johnson Controls, Inc.; Schneider Electric; Senmatic A/S; Sensata Technologies, Inc.; Sensirion AG; Siemens AG; TE Connectivity Ltd. are among the leading companies in the Europe HVAC sensors market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, Senmatic company expanded their business in Asia market specifically in china through the introduction of the new office.    

The report segments the Europe HVAC Sensors Market as follows:

Europe HVAC Sensors Market – By Type

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

Europe HVAC Sensors Market – By End User

• Residential
• Commercial                        
• Industrial

Europe HVAC Sensors Market – By Country

• France
• Germany
• Italy
• UK
• Russia
• Rest of Europe