Global Automatic Environmental Control Market Industry Analysis, Size, Share, Growth, Trends and Forecast 2020-2025

Automatic Environmental Control Market:

WiseGuyReports.com adds “Automatic Environmental Control Global Market Report 2020-30” reports to its database.

Executive Summary

The global automatic environmental control market was worth $95.39 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 8.94% and reach $134.33 billion by 2023.

The automatic environmental control market consists of sales of automatic environmental control devices and related services. This industry comprises establishments primarily engaged in manufacturing automatic controls and regulators for applications. Automatic environmental control devices include airflow controllers, air conditioning and refrigeration, heating and cooling system controls, and heating regulators.

The automatic environmental control market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America, Middle East and Africa. In 2019, Asia Pacific was the largest region in the automatic environmental control market. North America is expected to be the fastest growing region in the automatic environmental control market in the forecast period.

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Smart Thermostat is a key trend in the automatic environmental control market. Smart thermostats use smart technology that can be operated using mobile phones, laptops, smart speakers or other computers connected to the internet that allows scheduling preferred temperature settings, and they can also be integrated into home automation systems. For instance, Ecobee was the first to introduce the smart thermostat solution into the market. The company has seen its revenues double every year, it is estimated that the Ecobee sales will reach $1 billion by 2020. Across North America, Ecobee holds 30% of market share in smart thermostats.

The automatic environmental control market covered in this report is segmented by type into heating equipment, refrigeration equipment, air conditioning equipment.

Rising trade protectionism acts as a major challenge in the automatic environmental control market. Trade protectionism is characterized as a country, or a group of countries working related as an exchange alliance, making exchange boundaries with the particular objective of protecting its economy from the potential dangers of worldwide trading. The target of trade protectionism is to ensure a country's fundamental monetary interests, for example, its key ventures, wares, and work of laborers. A wide number of trade barriers have been introduced since mid-2018, the major one has been higher tariffs on bilateral trade between the US and China. This increase in protectionism has contributed to a slowdown in global growth through direct effects on trade flows, supply chains and import costs, and indirect effects on business sentiment, uncertainty, and investment around the world. Therefore, rising trade protectionism will negatively impact the automatic environmental control market’s growth.

Rapid growth in manufacturing industries is a key factor driving the growth of the automatic environmental control market. In the Indian economy, industrial manufacturing is the major growing sector with diverse companies engaged in the manufacturing of machinery and equipment, building and construction material, rubber and plastic products, electrical and mechanical products, cement, and automation technology products. Growth in manufacturing outputs in China and Brazil will be the highest in the next five years. The countries will grow at an annual growth rate of 7.1% and 5.0%, respectively. Therefore, the growth in manufacturing industries is expected to increase the growth of the automatic environmental control market.

In April 2018, Johnson Controls, a European based company produces fire, HVAC, and security equipment for buildings, acquired Triatek for an undisclosed amount. This acquisition not only gives Johnson Controls the ability to better serve consumers in the building automation and HVAC industries but also opens Triatek's portfolio of creative HVAC airflow systems to a wider range of customers in a wider range of facilities. Triatek, a leading producer of creative airflow solutions for sensitive environments across the globe.

Major players in the automatic environmental control market are Johnson Controls, Inc., Schneider Electric, United Technologies Corporation, Honeywell International Inc. and Ingersoll Rand.

Continuous…

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