Stratview Research has launched a new report, titled Global Air and Water Heating Sensor Market is segmented By Type (Air Heating Sensors, Water Heating Sensors), By End-Use (Heating, Ventilation, and Air Conditioning (HVAC), Machinery and Plant Engineering, Marine and Shipbuilding, Aerospace, Food and Beverages, Chemical and Petrochemical, Others), and Region.
Covid-19 Impact Analysis:
Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.
According to the report, growing product demand in the automation sector to check the overheating factor of the engines is one of the key factors boosting the product demand. These sensors are highly energy-efficient, thus is gaining traction among industry operators, building owners, regulatory agencies, and governments, and thus offers lucrative growth opportunities to the industry players. However, the extra cost of the product after its implementation in devices which reduces the overall life of the device is a restraining factor affecting the market growth.
Market Segments’ Analysis
Based on end-use, the air and water heating sensor market is categorized into Heating, Ventilation, and Air Conditioning (HVAC), machinery and plant engineering, marine and shipbuilding, aerospace, food and beverages, chemical and petrochemical, others. The HVAC segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. These sensors in HVAC offer reduced energy costs for heating and cooling areas that do not require constant climate control. Also, reduced wear & tear on HVAC equipment to decrease the need for Cypress AC repair services, further bolsters the segment growth.
By region, the Asia-Pacific market accounted for a significant share in 2020 and is expected to grow at the highest CAGR in the following years. This is mainly ascribed to the strong presence of key players in China, South Korea, and Taiwan. Also, a robust consumer electronic base, increasing construction and HVAC activities, favourable government investments, easy availability of raw material, and strong machinery and chemical sector, further proliferate the regional market growth.
Key Players
The following are the key players in the Air and Water Heating Sensor Market.
- Campbell Scientific (The U.S),
- Carrier Corporation (The U.S),
- SENSIT s.r.o. (Czechia),
- Convectronics (The U.S),
- Danfoss (Denmark),
- Heatcon Sensors (India),
- Honeywell International (The U.S),
- Siemens (Germany), and
- SIKA Dr. Siebert & Kühn (Germany).
Frequently Asked Questions –
This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:
- What is the current and future market size of Air and Water Heating Sensor Market?
- How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
- What will be the short and long-term effects of the pandemic?
- How are other market factors affecting the market dynamics?
- Which segments offer high-growth opportunities in the long run?
- How fierce is the Air and Water Heating Sensor Market competition?
- What are the key emerging trends and unmet needs in the present market?
- What are the strategic growth opportunities and key success factors?
Read the full report: here
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