Report Code: A07228 | Pages: NA | Apr 2023 | 1149 Views | ||
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Pandemic disrupted the entire world and affected many industries.
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A thermostat is a device that regulates the temperature by turning on or switching off the system so that a specific temperature is maintained within the system. It is used in any device, which demonstrates heating or cooling effects to a specific temperature such air conditioners, heating ventilation, and air conditioning systems (HVAC systems); water heaters; and refrigerators ovens. A thermostat operates on the principle of thermal expansion of solids. It uses a bimetallic strip that acts as bridge in an electrical circuit connected to a heating or cooling system. Â
COVID-19 scenario analysis
The outbreak of the COVID-19 pandemic across the globe has impacted the global thermostat market to a notable extent.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Rise in concerns about depletion of nonrenewable energy resources and surge in need for energy-efficient devices have acted as major drivers of the global thermostat market. A thermostat operates as a closed loop control device as it helps to reduce the error between the desired temperature and the measured temperature. Since the thermostat is connected with the electrical circuit, it breaks the circuit using a bimetallic strip that bends in a certain direction when the desired temperature in attained, thereby discontinuing the electric supply for the time being and saving energy. The circuit automatically revives when the temperature starts to deviate from the desired temperature, and this cyclical process runs continuously. Different companies are inventing on development for better and smarter thermostats, which are more efficient and precise about the minute changes in the temperature. Thus, manufacturers are incorporating newer technologies such as artificial intelligence for making the thermostats better and more efficient in terms of their accuracy and performance.
The North America region is expected to dominate the thermostat market, due to the developments in energy management solutions in the region. It is followed by Europe where improvements are being made for creating better energy saving households. The thermostat market in the Asia-Pacific region is anticipated to grow at a steady rate in the near future.
Key benefits of the report
Thermostat Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
Aspects | Details |
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By Sensor Type |
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By Application |
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By Mode of Operation |
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By Industry Vertical |
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By Region |
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Key Market Players | Carrier, Computime, Schneider, Energate, Danfoss, RTCA, Johnson Controls, Honeywell, Nortek, Legrand, Emerson Electric. |
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