The HVAC sensors market was valued at US$ 3,222.20 million in 2019 and is projected to reach US$ 5,264.70 million by 2027; 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.
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. Sample PDF of This Report @ https://www.theinsightpartners.com/sample/TIPRE00011983/ By Type (Temperature Sensors, Humidity Sensors, Pressure & Flow Sensors, Motion Sensors, Smoke & Gas Sensors, and Others) and End User (Residential, Commercial, and Industrial) Top Market Players: • • • • • • • • • •
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.