Pressure & Flow Sensors Segment is Expected to be Fastest Growing During Forecast Period for APAC Region.

According to a new market research study on “APAC HVAC Sensors Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Type and End User,” is expected to reach US$ 2,185.00 million by 2027 from US$ 1,189.11 million in 2019. The market is estimated to grow at a CAGR of 8.3 % from 2020 to 2027. The report provides trends prevailing in the APAC HVAC sensors market along with the drivers and restraints pertaining to the market growth. Surging establishment of smart cities and rise of smart, connected, and energy efficient IOT-enabled HVAC systems are the major factor driving the growth of the APAC HVAC sensors market. However, complexities related to motion-activated air conditioners hinder the growth of APAC HVAC sensors market.

In case of COVID-19, APAC is highly affected specially India and China. The governments in APAC countries have taken several crucial steps to contain the spread of virus by imposing lockdown and physical distancing norms, which has negatively affected the manufacturing sector. China has significantly large number of electronics and semiconductor manufacturing industry with numerous manufacturers operating and supporting several industries across the globe. The Chinese HVAC sensors market players have observed tremendous impact on respective business during Q1 of 2020, which have reflected stiff decline in revenue generation, which resulted in loss in China as well as APAC HVAC sensors market. In addition, China accounts for the significantly higher number of HVAC system manufacturers. The lockdown measures and physical distancing norms imposed by the Chinese government during Q1 has reflected huge fall in supply of HVAC systems, which ultimately resulted in decimation in revenue generation in the HVAC sensors market. Japan and India are the other two countries that have large number of electronics and semiconductor manufacturers as well as end users. Though the countries have eased the lockdown norms and have allowed the manufacturing plants to operate, the decrease in demand and supply has been severely affecting the HVAC sensors market player in both the countries. The recovery period is expected to be by late 2021 as the entire electronics and semiconductor manufacturing sector has been rigorously affected.

The APAC HVAC sensors market is segmented into type, end user, and country. Based on type, APAC HVAC sensors market is segmented into the temperature sensors, humidity sensors, pressure & flow sensors, motion sensors, smoke & gas sensors, and others. The temperature sensors segment dominated the market in 2019 and pressure & flow sensors segment is expected to be fastest growing during forecast period. The temperature sensors segment is further sub-segmented into NTC, RTD, thermocouple, and others. Based on end user, APAC HVAC sensors market is segmented into the residential, commercial, and industrial. The commercial segment dominated the market in 2019 and residential segment is expected to be fastest growing during forecast period.

BELIMO AIRCONTROLS (USA), INC.; Emerson Electric Co.; Honeywell International Inc.; Johnson Controls, Inc.; Schneider Electric; Senmatic A/S; Sensata Technologies, Inc.; Sensirion AG; Siemens AG; TE Connectivity Ltd. are among the leading companies in the APAC HVAC sensors market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Honeywell company introduced two new products for the market to improve and measure commercial building indoor air quality.      

The report segments the APAC HVAC Sensors Market as follows:

APAC HVAC Sensors Market – By Type

• Temperature Sensors               
  • NTC
  • RTD                         
  • Thermocouple
  • Others
• Humidity Sensors
• Pressure & Flow Sensors
• Motion Sensors
• Smoke & Gas Sensors
• Others

APAC HVAC Sensors Market – By End User

• Residential
• Commercial                        
• Industrial

APAC HVAC Sensors Market – By Country

• Australia
• China
• India        
• Japan
• South Korea
• Rest of APAC