Report : South America HVAC Sensors Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Temperature Sensors, Humidity Sensors, Pressure & Flow Sensors, Motion Sensors, Smoke & Gas Sensors, and Others) and End User (Residential, Commercial, and Industrial)
Residential Segment is Expected to be Fastest Growing During Forecast Period for SAM Region.
According to a new market research study on “SAM HVAC Sensors Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Type and End User,” is expected to reach US$ 215.98 million by 2027 from US$ 172.06 million in 2019. The market is estimated to grow at a CAGR of 3.2 % from 2020 to 2027. The report provides trends prevailing in the SAM HVAC sensors market along with the drivers and restraints pertaining to the market growth. Advent of smart, connected, and energy efficient IOT-enabled HVAC systems and growing development of smart cities are the major factor driving the growth of the SAM HVAC sensors market. However, difficulty related to motion-activated air conditioners hinder the growth of SAM HVAC sensors market.
In case of COVID-19, SAM is highly affected specially Brazil, which got the highest number of coronavirus cases, followed by Peru, Chile, Colombia, and Ecuador, among others. The emergence of COVID-19 virus across SAM region has created enormous disruption across industries including electronics and semiconductors. Every phase of the business model has been witnessing drastic change, including the manufacturing units, capital expenditures, R&D, demand, supply-chain, production decisions, and mergers and acquisitions (M&A). Before COVID-19, outbreak, SAM countries have been witnessing growth in number of industries over the past few years. Industries such as automotive, aerospace, and industrial equipment have been experiencing fair growth rate; however, the COVID-19 outbreak has created significant turmoil among the manufacturers across industries. The government of SAM has taken an array of actions to protect their citizens and contain COVID-19’s spread. Brazil has the largest industrial sector and is also the worst-hit country. This has been highlighting limited resources and investments toward product developments, which has slow-downed the adoption of HVAC systems and HVAC sensors. This factor has negatively impacted the SAM HVAC sensors market.
The SAM HVAC sensors market is segmented into type, end user, and country. Based on type, SAM 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, SAM 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; Sensata Technologies, Inc.; Sensirion AG; Siemens AG; TE Connectivity Ltd. are among the leading companies in the SAM 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 2019, Honeywell and Huawei formed a collaboration to develop advanced solutions for smart buildings. The collaboration includes the development of heating, ventilation, and air conditioning (HVAC) systems.
The report segments the SAM HVAC Sensors Market as follows:
SAM HVAC Sensors Market – By Type
- Temperature Sensors
- Humidity Sensors
- Pressure & Flow Sensors
- Motion Sensors
- Smoke & Gas Sensors
SAM HVAC Sensors Market – By End User
SAM HVAC Sensors Market – By Country
- Rest of SAM
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