HVAC Test Instruments Market by Application and Geography - Global Forecast and Analysis 2019-2023
Global HVAC Test Instruments Market: About this market
Technavio’s HVAC test instruments market analysis considers sales from airflow and quality, temperature and humidity, electrical, and other applications. Our analysis also considers the sales of HVAC Test Instruments in APAC, Europe, North America, South America, and MEA. In 2018, the airflow and quality segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising stringency of IAQ regulations will play a significant role in the airflow and quality segment to maintain its market position. Also, our global HVAC Test Instruments market report looks at factors such as growing demand for HVAC systems, growing concerns toward improving IAQ in residential and commercial buildings, and online platforms selling HVAC test instruments. However, Threat to global players' existence from Chinese low-cost HVAC test instruments, lack of skilled HVAC professionals, and the ongoing slowdown in the Chinese economy may hamper the growth of the HVAC Test Instruments industry over the forecast period.
Global HVAC Test Instruments Market: Overview
Growing concerns toward improving IAQ in residential and commercial buildings
The air quality within residential and commercial buildings is paramount for the well-being of people as a major portion of people’s time is spent indoors. Hence, regulators are increasingly taking initiatives to create awareness about IAQ through various strategies, which include ventilation inside the buildings. HVAC plays a significant role in improving ventilation inside the buildings. Thus, growing concerns toward improving IAQ will drive the adoption of airflow and quality test instruments, thereby fueling the growth of the HVAC test instruments market at a CAGR of almost 6% during the forecast period.
The growing popularity of wireless HVAC test instruments
The demand for efficient HVAC test instruments is increasing among customers. The market is witnessing a growing demand for wireless HVAC test instruments, also called as non-contact HVAC test instruments, owing to their fast and intuitive operation. Also, these instruments enable data transmission via Bluetooth. This enables users to read measurements from one or multiple probes through the smartphone application. These instruments are crucial for setup and diagnosis of large HVAC systems. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global HVAC Test Instruments market during the forecast period 2019-2023, click here.
With the presence of several major players, the global HVAC Test Instruments market is moderately fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading HVAC Test Instruments manufacturers, that include Dwyer Instruments Inc., Fieldpiece Instruments Inc., Fortive Corp., Kanomax Corp., Mastercool Inc., PCE Americas Inc., Robert Bosch GmbH, Sauermann Industrie SA, Testo SE & Co. KGaA, and TSI Inc.
Also, the HVAC Test Instruments market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook