HVAC Sensors Market is expected to reach US$ 5,264.70 million by 2027

According to our latest market study on "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)," the 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% from 2020 to 2027. The report highlights the key factors driving the market growth and prominent players with their developments in the market.

The growth of the global HVAC sensors market is mainly attributed to robust growth in construction sector in developed and developing nations. HVAC sensors are commonly used in applications such as room, duct, cable, immersion, wall, and others. The various application areas are expected to play a significant role in future. 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 buildings is boosting the installation of HVAC systems.

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative
https://www.theinsightpartners.com/sample/TIPRE00011983/?utm_source=OpenPR&utm_medium=10591

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.
Requirement for automatic and well-regulated air-conditioning in automobiles is constantly growing.

The advancement in HVAC sensors used in automobiles enables zone-wise climate control and provides protection from external harmful gases and odor. Moreover, the automotive manufacturers are making constant efforts to further improve the vehicle comfort concerning climate. For instance, the integration of carbon-dioxide (CO2) sensors in automotive HVAC systems is one of the significant developments in the automotive HVAC systems market. According to Organisation Internationale des Constructeurs d'Automobiles (OICA), ~91.3 million vehicles were sold across the world in 2019. These developments coupled with rising automotive sales are
propelling the growth of the HVAC sensors market.

Have a 15-minute-long discussion with the lead analyst and author of the report in a time slot decided by you. You will be briefed about the contents of the report and queries regarding the scope of the document will be addressed as well -
https://www.theinsightpartners.com/speak-to-analyst/TIPRE00011983/?utm_source=OpenPR&utm_medium=10591

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 lockdown 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.

The HVAC industry is growing at a faster rate in North America, Europe, and Asia Pacific with an advent of supporting IoT sensors. China, India, the US, Germany, and the UK are among the countries that are strongly adopting HVAC systems. Further, rising demand from South Asian countries is strongly supporting the market growth. For instance, according to IEA report, the Southeast Asia is expected to reach the consumption of 300 million units by 2040. The increasing pollution and rising demand for energy-saving smart technologies, such as smart HVAC systems, are expected to accelerate the market growth during the forecast period.

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.

Immediate delivery of our off-the-shelf reports and prebooking of upcoming studies, through flexible and convenient payment methods
https://www.theinsightpartners.com/buy/TIPRE00011983/?utm_source=OpenPR&utm_medium=10591

About Us:

The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

This release was published on openPR.