Global Low Voltage Thermostats Market 2017-2021

Overview of the global low voltage thermostats market

Technavio's market study identifies the increasing demand for energy-efficient equipment to be one of the primary growth factors for the low voltage thermostats market. The growing awareness about carbon emissions and the introduction of stringent carbon emission regulations ensure that manufacturers and consumers utilize energy-efficient equipment that do not harm the environment. Using energy-efficient equipment results in reduced impact on the environment, conserved usage of energy, and reduced cost of operation. Increased usage of cooling and heating equipment increases the electricity consumption bill. This will also compel consumers to adopt smart and central heating thermostats to regulate the electricity usage and reduce electricity expenditure. This market research analysis estimates that this market will grow steadily at a CAGR of more than 13% by 2021.

The integration of mobile devices with smart thermostats will be one of the key trends contributing to the growth of the low voltage thermostats market. The heating, ventilation, and air conditioning (HVAC) industry is increasingly integrating smartphones with the HVAC systems in the residential and commercial sectors. Mobile phone applications enable consumers to connect with the device and the maintenance teams. Smart thermostats are low voltage thermostats that are connected to smartphones and can monitor and control the ambient temperature in addition to, developing efficient combined cooling and heating devices with web control. Smart thermostats also have energy-saving capabilities and energy consumption pattern identification that helps in reducing the energy consumption of the user.

Competitive landscape and key vendors

The low voltage thermostats market is fragmented due to the presence of several international and regional vendors with the international players dominating the market. New entrants are finding it difficult to operate in the market and are facing tough competition from the international vendors based on quality, features, functionalities, and services. Product innovations, portfolio expansions, technological advances, and M&As will increase the level of competition among the remote thermostat vendors.

The leading vendors in the market are -

• Carrier
• Emerson
• Honeywell International
• Schneider Electric

The other prominent vendors in the market are climote, Computime, EcoFactor, GridPoint, Ingersoll Rand-Trane, LUX PRODUCTS, Nest Labs, Quby, Radio Thermostat Company of America, Robertshaw Climate, Smart Wi-Fi Thermostats by ecobee, and Tado.

Segmentation by type and analysis of the low voltage thermostats market

• Traditional thermostats
• Smart thermostats

Traditional thermostats include programmable thermostats and non-programmable thermostats. While the non-programmable thermostats can maintain the same temperature, the low voltage programmable thermostats enable automatic temperature adjustment according to the pre-set time schedule set by the user.

Geographical segmentation and analysis of the low voltage thermostats market

• APAC
• Europe
• North America
• ROW

The increase in stringent government regulations on energy-efficient systems for homes and the growing residential construction will increase the demand for HVAC systems. This increasing adoption of low voltage home thermostats in North America will drive the growth of the low voltage wireless thermostat market.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global low voltage thermostats market?
• What are the key market trends impacting the growth of the global low voltage thermostats market?
• What are the challenges to market growth?
• Who are the key vendors in the global low voltage thermostats market?
• What are the market opportunities and threats faced by the vendors in the global low voltage thermostats market?
• Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global low voltage thermostats market?

Technavio also offers customization on reports based on specific client requirement.

Thermostats are the devices which sense and maintain a system at a fixed temperature by turning the devices on or off as per the requirement. It serves as the control unit for heating or cooling the system or a component of heaters or air conditioners.  This upcoming market research report on the global low voltage thermostats market offers insights into the major trends and forthcoming drivers influencing the growth of the heavy industry sector. Our insightful reports for the heavy industry sector also follow a scrupulous data collection methodology and offer an analysis of fast growing market segments like unit operations.  

By considering the market forecast and size and the surging demand for various segments of the unit operations sector, the market research professionals at Technavio present a holistic picture of the global low voltage thermostats market for the period of 2017 to 2021. Furthermore, our research practices help clients develop impactful growth strategies and keep pace with the continually changing market dynamics. This market research report also presents an extensive analysis of various products and services based on the insights from the information gathered from specific resources such as channel partners and market stakeholders.

This forthcoming market research report on the low voltage thermostats market also covers vendors like L Pentair Ltd., Johnson Controls, Inc., Honeywell International, and Emerson Electric. According to our industry experts, rapid innovation in technology and industrialization are expected to impact the global market significantly. Furthermore, to offer clients the scope to identify potential market opportunities and expand in niche markets, this report on the low voltage thermostats market also covers geographies like the Americas, APAC, and EMEA.

The upcoming industry research report on the low voltage thermostats market also highlights the key drivers, prominent trends, as well as the imminent restraints that the unit operations sector currently experiences. This upcoming report on the low voltage thermostats market also presents insights into the rapidly changing competitive landscape to give clients a complete picture of the forthcoming events within the energy industry. Technavio also provides deep-dive market assessments into the sectors such as tools and components and construction.