What's Driving the Hydronic Control Market Trends? Danfoss, Siemens AG, Giacomini S.P.A, Spirotech, Armstrong Fluid Technology, Reflex Winkelmann, Schneider Electric SE, and Honeywell
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Increase in the need for energy-efficient solutions and high investment in the field of residential or commercial building projects are propelling the hydronic control market growth. The global companies are expanding their business bases around the globe and are investing highly in infrastructure construction. With the rapid increase in infrastructure facilities of the global companies, the demand for HVAC solutions will witness high growth, augmenting the market growth. Some of the major global businesses that have established their infrastructure facilities in different countries include Microsoft, Amazon, Google, and Apple. Moreover, with the increase in the usage of hydronic water heaters across the production area, warehouse, administration office, and control room, the market is witnessing rapid growth.
The lack of awareness of technology among residential customers is predicted to restrict the hydronic control market growth. The unawareness about the operability and maintenance of these solutions is encouraging residential owners to shift to heat pump systems over hydronic systems. Moreover, high installation and maintenance costs associated with these systems is also a major factor restraining market growth. Rise in technological advancements and innovations in the market forces application areas to implement skilled engineers or technicians for the maintenance of the system. SMBs with low capital budget find it difficult to incorporate such high-cost HVAC solutions in their infrastructure facilities.
Hydronic Control Market, By Component
Hydronic Control Market, By Application
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The key players operating in the hydronic control market are Danfoss, BELIMO Holding AG, Oventrop Corporation, Xylem Inc, Siemens AG, Giacomini S.P.A, Spirotech, Armstrong Fluid Technology, Reflex Winkelmann GmbH, IMI plc, Caleffi S.p.A, Johnson Controls, Flamco Group, Schneider Electric SE, and Honeywell International Inc.. Moreover, various partnerships, mergers & acquisitions, collaborations, and product launches are boosting the growth in the market.
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