Industry Background:
HVAC electronics include equipment like thermostats, transformers, condenser motors, boilers, air filters, dehumidifiers, VRF systems, cooling towers, chillers, and others. These electronics systems help in controlling and regulating climate in residential, commercial, and industrial applications. It is widely used in transmission and distribution systems to reduce electrical losses.
According to AMA Research, the market for HVAC Electronics is expected to register a CAGR of 6.3% during the forecast period to 2030. This growth is primarily driven by Growing HVAC Industry with Rising Industrialisation
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Electrical Components & Equipment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Johnson Controls (Ireland), LG Electronics Inc. (South Korea), United Technologies Corporation (United States), Electrolux Group (Sweden), Emerson Electric Co. (United States), Honeywell International Inc. (United States), Samsung Electronics (South Korea), Mitsubishi Electric Corporation (Japan), Lennox International Inc. (United States), Nortek (United States) and Carrier Global Corporation (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 13th January 2021, Appliance and consumer electronics maker Samsung introduced its latest 2021 range of air conditioners (ACs), which include wind-free ACs, convertible 5-in-1 inverter ACs, and hot and cold inverter ACs. The new range comes with smart control functions that allow consumers to remotely control the AC, change settings or switch on/off it using Bixby voice assistant, Alexa, Google Home, or Samsung's Smart Things applications, the company said in a statement.Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product.
Influencing Trend:
Technological Innovation and Advancements in HVAC Electronics Products
Market Growth Drivers:
Growing HVAC Industry with Rising Industrialisation and Demand for Proper Heating and Cooling System in Electronics
Challenges:
High Maintainance and Handling Related Issues with HVAC Electronics
Restraints:
Regulatory Guidelines and Compliances with HVAC Electronics
Opportunities:
Surging Demand for the HVAC Electronics in Commercial Applications from the Developing Countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of HVAC Electronics Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of HVAC Electronics Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of HVAC Electronics players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, HVAC Electronics Study Sheds Light on
The HVAC Electronics Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the HVAC Electronics industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where HVAC Electronics industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.