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Global Low Voltage Thermostats Market 2017-2021

About Low Voltage Thermostats

Low voltage thermostats are used in HVAC systems, which use electricity, gas, or oil and are more efficient in controlling the flow of electric current. These thermostats operate at 24 V and are mainly used in water heating systems and electric unitary systems. The increase in the demand for HVAC equipment for residential and commercial purposes is expected to boost the market for low voltage thermostats. There are a wide range of products offered by vendors as per the consumers' requirements.

Technavio’s analysts forecast the global low voltage thermostats market to grow at a CAGR of 13.18% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global low voltage thermostats market for 2017-2021. To calculate the market size, the report considers the demand for low voltage thermostats.

The market is divided into the following segments based on geography:

  • APAC
  • Europe
  • North America
  • ROW
Technavio's report, Global Low Voltage Thermostats Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Carrier
  • Emerson
  • Honeywell International
  • Schneider Electric
Other prominent vendors
  • 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
  • tado
Market driver
  • Growth of commercial building sector
  • For a full, detailed list, view our report
Market challenge
  • High initial prices affect the demand for smart thermostats
  • For a full, detailed list, view our report
Market trend
  • Growing number of smart homes
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Low Voltage Thermostats Market 2017-2021

Technavio recognizes the following companies as the key players in the global low voltage thermostats market: Carrier, Emerson, Honeywell International, and Schneider Electric

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.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing number of smart homes. Smart homes are gaining popularity globally as consumers give higher preference to comfort and convenience. Smart homes use electronic communication devices such as smartphones or tablets to connect domestic appliances like air conditioning units, lighting systems, television, computer, heating systems, security devices, and cameras. The global smart homes market is expected to grow exponentially during the forecast period due to the increase in the adoption of smart devices. These devices can be controlled remotely and can report their own maintenance needs, which makes it more convenient for the consumer.”

According to the report, one of the major drivers for this market is Growth of commercial building sector. The commercial sector has witnessed significant growth with the increase in the construction of office buildings, data centers, and healthcare facilities.

Further, the report states that one of the major factors hindering the growth of this market is High initial prices affect the demand for smart thermostats. One of the primary challenges faced by the consumers is the high initial cost of smart thermostats. These thermostats are more expensive than traditional thermostats. The lack of awareness about the benefits of smart thermostats can also hamper the demand for low voltage thermostats. Most smart thermostat manufacturers like Nest Labs, Honeywell International, and ecobee offer devices that are do-it-yourself (DIY) type; however, many consumers find it difficult to install the thermostats themselves, thereby needing to hire professionals, who charge heavily for their services.

Companies Mentioned

Carrier, Emerson, Honeywell International, Schneider Electric, 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.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Market outline
      • Table Global low voltage thermostats market by geography 2016-2021 ($ millions)
  • Market landscape
    • Market overview
      • Table Global low voltage thermostats market overview
    • Market size and forecast
      • Table Global low voltage thermostats market 2016-2021 ($ millions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by type
    • Market overview
      • Table Global low voltage thermostats market by type 2016 and 2021 (%)
    • Global traditional thermostats market
      • Table Global traditional thermostats market 2016-2021 ($ millions)
    • Global smart thermostats market
      • Table Global smart thermostats market 2016-2021 ($ millions)
  • Geographical segmentation
    • Market overview
      • Table Global low voltage thermostats market by geography 2016 and 2021 (%)
    • Low voltage thermostats market in North America
      • Table Low voltage thermostats market in North America 2016-2021 ($ millions)
      • Table Residential under-construction units in US 2010-2016 (thousands of units)
      • Table New single-family houses with/without air conditioning in US 2010-2015 (% share)
      • Table Housing starts in Canada 2013-2016 (thousands of units)
    • Low voltage thermostats market in Europe
      • Table Low voltage thermostats market in Europe 2016-2021 ($ millions)
      • Table Construction activities in Europe by market segments YoY 2014-2017 (%)
    • Low voltage thermostats market in APAC
      • Table Low voltage thermostats market in APAC 2016-2021 ($ millions)
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table New single-family houses built for sale with/without AC in US 2010-2015 (% share)
    • Market challenges
      • Table Major products in smart thermostats market
      • Table Annual GDP growth in China 2008-2015 (%)
  • Market trends
    • Growing number of smart homes
    • Integration of mobile devices with smart thermostats
    • Intense market competition
  • Vendor landscape
    • Competitive scenario
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • Carrier
      • Table Carrier: Products offered under residential systems
    • Emerson
      • Table Emerson: Products offerings
      • Table Emerson: Thermostats portfolio
    • Honeywell International
      • Table Honeywell International: Product offerings
      • Table Honeywell International: Thermostats portfolio
    • Schneider Electric
      • Table Schneider Electric: Product offerings
      • Table Schneider Electric: Thermostats portfolio
  • Appendix
    • List of abbreviations
  • Explore Technavio

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