Press release
Automatic Environmental Control Global Market Report 2024 - By Report, Share, Size, Trends, Outlook By 2033
Automatic Environmental Control Market
The automatic environmental control market size is expected to see strong growth in the next few years. It will grow to $23.76 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to climate change mitigation, smart buildings and iot, health and wellness focus, energy management, building renovations and retrofits. Major trends in the forecast period include building energy management, artificial intelligence and machine learning, occupancy and behavior sensing, energy storage integration, user-centric design.
Market Overview -
Automatic environmental control refers to devices used as automatic controls and regulators for applications, such as heating, air-conditioning, refrigeration, and appliances.
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Booming Manufacturing Industries Fueling Growth In The Automatic Environmental Control Market
Rapid growth in manufacturing industries is a key factor driving the growth of the automatic environmental control market. In the Indian economy, industrial manufacturing is the major growing sector with diverse companies engaged in the manufacturing of machinery and equipment, building and construction materials, rubber and plastic products, electrical and mechanical products, cement, and automation technology products. Growth in manufacturing outputs in China and Brazil will be the highest in the next five years. The countries will grow at an annual growth rate of 7.1% and 5.0%, respectively. Therefore, the growth in manufacturing industries is expected to increase the growth of the automatic environmental control market.
Competitive Landscape -
Major companies operating in the automatic environmental control market include Johnson Controls Inc., Schneider Electric, United Technologies Corporation, Honeywell International Inc., Ingersoll Rand, Siemens AG, Emerson Electric Co., Agilent Technologies, Danaher, Thermo Fisher Scientific Inc, Shimadzu Corporation, PerkinElmer, 3M company, bioMérieux S.A., Merck KGaA, Forbes Marshall, Carrier Corporation, Daikin Industries Ltd., LG Electronics Inc., Mitsubishi Electric Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., Sharp Corporation, Toshiba Corporation, Trane Inc., York International Corporation, ABB Ltd., Eaton Corporation, General Electric Company, Rockwell Automation Inc.
Smart Thermostats A Key Trend In The Automatic Environmental Control Market
The smart thermostat is a key trend in the automatic environmental control market. Smart thermostats use smart technology that can be operated using mobile phones, laptops, smart speakers, or other computers connected to the internet that allows for scheduling preferred temperature settings, and they can also be integrated into home automation systems. For instance, Ecobee was the first to introduce the smart thermostat solution into the market. The company has seen its revenues double every year, Ecobee revenue reached $550 million by 2022. Across North America, Ecobee holds 30% of the market share in smart thermostats.
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Key Segments -
The automatic environmental control market covered in this report is segmented -
1) By Type: Heating Equipment, Refrigeration Equipment, Air Conditioning Equipment
2) By Product Type: Environmental Monitors, Environmental Monitoring Sensors, Wearable Environmental Monitors
3) By Application: Residential, Commercial, Industrial
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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