World Hvac Actuators Market Is Anticipated to Generate $6.2 Billion by 2031: Allied Market Analysis
PORTLAND, OR, March 01, 2023 (GLOBE NEWSWIRE) — The global HVAC actuator market was worth US$3.9 billion in 2021 and is expected to reach US$6.2 billion by 2031, according to the report published by Allied Market Research Dollars, generating a CAGR of 4.6% from 2022 to 2031. The report provides a comprehensive analysis of changing market dynamics, major segments, value chain, competitive scenario and regional landscape. This research provides valuable guidance to leading players, investors, shareholders and startups in developing strategies for sustainable growth and competitive advantage in the market.
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Report coverage and details:
| report coverage | details |
| forecast period | 2022-2031 |
| base year | 2021 |
| Market size in 2021 | $3.9 billion |
| Market size in 2031 | $6.2 billion |
| CAGR | 4.6% |
| Number of pages in the report | 198 |
| segments covered | Type, technology, application and region |
| driver | Increase in population and per capita income
Increase in commercial construction activities |
| occasions | Rapid Penetration of HVAC Systems in Building Automation Systems (BASs) |
| restrictions | High costs |
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Covid-19 scenario:
- The outbreak of the COVID-19 pandemic negatively impacted the growth of the global HVAC actuator market due to the implementation of the global lockdown.
- The pandemic caused commercial construction activity to slow down, which reduced demand for air conditioning in commercial buildings such as industrial buildings, offices, shopping malls and others, resulting in lower demand for HVAC actuators in 2020.
- However, the market recovered by the end of 2021 as economies reopened to construction activity.
The study provides detailed segmentation of the global HVAC actuators market by type, technology, application and region. The report details segments and their sub-segments using tables and figures. Market participants and investors can strategize according to the top revenue and fastest growing segments mentioned in the report.
By type, the spring return segment had the highest share in 2021, accounting for more than half of the global HVAC actuator market and is expected to continue its leadership role during the forecast period. However, the non-spring return segment is expected to register the highest CAGR of 4.9% from 2022 to 2031.
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Based on technology, the conventional segment accounted for the highest share in 2021, holding more than half of the global HVAC actuator market and is expected to continue its leading position during the forecast period. However, it is estimated that the smart segment will grow at the highest CAGR of 5.2% over the forecast period.
Based on application, the industrial equipment segment accounted for the highest share in 2021, contributing to more than two-fifths of the global HVAC actuator market and is expected to retain its revenue leadership during the forecast period. However, the commercial building segment is expected to show the highest CAGR of 5.1% from 2022 to 2031.
Based on region, Asia Pacific held the largest share in 2021 and contributed to more than half of the global HVAC actuator market share and is expected to retain its dominant share in terms of revenue in 2031. Furthermore, the LAMEA region is expected to manifest the fastest CAGR of 5.7% over the forecast period.
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The leading market players in the global HVAC actuator market analyzed in the study include Continental AG, Denso Corporation, Dwyer Instruments Inc, Electro Craft Inc., Honeywell International Inc., Johnson Controls International plc., Robert Bosch GmbH, Rotork Plc., Schneider Electric SE, Siemens AG.
The report provides a detailed analysis of these major players of the global HVAC actuator market. These players have applied different strategies like new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and hold dominant shares in different regions. The report is valuable for highlighting business performance, operating segments, product portfolio, and strategic moves made by market players to depict the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business consulting arm of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global, medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR strives to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market space.
We are in professional business relationships with various companies and this helps us to unearth market data which help us create accurate research data tables and confirm the highest accuracy of our market forecasts. Pawan Kumar, CEO of Allied Market Research, is instrumental in inspiring and encouraging everyone associated with the company to maintain high data quality and help clients succeed in any way possible. All data presented in the reports we publish are extracted through primary interviews with top officials from leading companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable professionals and analysts in the industry.
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