Thermostat Market Demand Overview, Growth Innovation, Latest Trends and Business Forecast By 2027
In accordance with the Thermostat market is set to grow at a CAGR of 9.9% over the forecast period (2021-2027).
The report's authors used a unique and industry-leading research and analysis technique to conduct an in-depth analysis of the worldwide Thermostat market. From 2021 through 2027, this study anticipates demand, trends, and revenue growth at regional and country levels, as well as an examination of industry trends in each of the sub-segments.
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In the worldwide market, there are a number of important and rising Thermostat market Key players:
Google Nest, Honeywell, EcoBee, Schneider Electric, Emerson, Carrier, Energate Inc., Tado GmbH, Control4, Netatmo, Hive Home, Trane, Johnston Controls, DANFOSS, Siemens, Saswell, Computime, Shenzhen Topband, HaiLin Energy Technology
Honeywell International has acquired 81 companies, including 16 in the last 5 years. A total of 16 acquisitions came from private equity firms. It has also divested 8 assets.
Honeywell International’s largest acquisition to date was in 1999 when it acquired Honeywell for $13.8B. Its largest disclosed sale occurred in 2016 when it sold Honeywell Technology Solutions to KBR for $300M. Honeywell International has acquired in 26 different US states, and 13 countries. The Company’s most targeted sectors include manufacturing (13%) and software (11%).
Market segment by Type, covers:
The application covered in the report include:
The Global Thermostat Market size was estimated at USD 894.48 Million in 2021 and expected to reach USD 1,101.72 Million in 2021, at a Compound Annual Growth Rate (CAGR) from 2021 to 2027 to reach USD 3,174.71 Million by 2027.
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APAC to lead thermostat market in 2021
APAC has been a major contributor to the growth of the thermostat market as the construction industry, which is the primary end-user of thermostats, is expanding at a healthy rate. The growing population in developing countries of this region, along with environmental awareness, is supporting the adoption of HVAC controls, such as thermostats. The rise in the adoption of green buildings and government initiatives to regulate energy-efficient practices across the commercial sector is also aiding the adoption of thermostats in the region. However, the regional market is expected to witness a decline in market size attributed to the halt of both ongoing and new infrastructure development projects due to the COVID-19 pandemic. Also, as the pandemic has also affected individual per capita income, the adoption of new HVAC systems in the residential segment has significantly decreased. However, this loss is expected to be recovered in the coming years with a gradual recovery of the overall economy.
This research report focuses on Thermostat market volume and value at regional Opportunity and company Trends From a global perspective, this report Study represents overall market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: Americas, Europe, Asia-Pacific, Middle East & Africa and ROW.
Europe would enjoy the second spot where several factors like automation and better technical inclusion and Scope. The Asia Pacific region has better prospect in growing with a high CAGR in the coming years as the regional market would witness several changes in the infrastructure.
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Table of Contents: Thermostat Market
Chapter 1: Global Thermostat Market Overview
Chapter 2: Economic Impact on Industry
Chapter 3: ThermostatMarket Competition by Manufacturers
Chapter 4: Production, Revenue (Value) by Region
Chapter 5: Supply (Production), Consumption, Export, Import by Regions
Chapter 6: Production, Revenue (Value), Price Trend by Type
Chapter 7: Thermostat Market Analysis by Application
Chapter 8: Manufacturing Cost Analysis
Chapter 9: Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Thermostat Market Effect Factors Analysis
Chapter 12: Research Conclusions of Global Thermostat Market
Impact of COVID-19:
The COVID-19 epidemic has impacted markets and customer behaviour in a short period of time, and it is having a significant influence on economies and society. With offices, educational institutions, and manufacturing facilities closed indefinitely, big sports and events postponed, and work-from-home and social distance rules in place, businesses are increasingly seeking technology to assist them to get through these trying times. The COVID-19 epidemic is wreaking havoc on companies all around the world.
The Global Thermostat Market report may be modified to meet your specific business needs. Because we understand what our clients want, we provide 25% customization for any of our MID reports at no additional cost to all of our clients.
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