LONDON--(BUSINESS WIRE)--The global HVAC test instruments market size is poised to reach USD 131.69 million by 2023, according to a new report by Technavio, progressing at a CAGR of close to 6% during the forecast period.
“E-commerce websites have become crucial platforms for customers to purchase HVAC test and instruments conveniently. Customers prefer e-retailing as it allows them to compare prices, features, and reviews of a wide range of brands. Thus, the growth of online platforms will further drive the adoption of HVAC test instruments,” says a senior analyst at Technavio. Request Free Sample Pages
The market is driven by the growing concerns toward improving IAQ in residential and commercial buildings. In addition, the growing demand for HVAC systems is anticipated to further boost the HVAC test instruments market during the forecast period.
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 an important 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 during the forecast period.
The demand for HVAC systems is increasing at a significant rate across the world, owing to the increase in disposable incomes which is facilitating better living standards. Moreover, the presence of extremely hot weather conditions in emerging economies is also a crucial factor behind the growing demand for HVAC systems. This will directly impact the growth of the HVAC test instruments as periodic maintenance activities are essential for maintaining the efficiency of HVAC systems.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Dwyer Instruments Inc.
- Fieldpiece Instruments Inc.
- Fortive Corp.
- Kanomax Corp.
- Mastercool Inc.
Market Segmentation by Application:
The HVAC Test Instruments Market can be broadly categorized into the following application segments:
- Airflow and Quality
- Temperature and Humidity
- Electrical
- Other applications
Key Regions for the HVAC Test Instruments Market:
Featuring a breakdown of region-wise market shares until 2019.
- North America
- Europe
- APAC
- South America
- MEA
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Related Reports on Information Technology are:
Software Testing Services Market – Global Software Testing Services Market by product (application testing and product testing), end-users (BFSI, telecom and media, manufacturing, retail, IT, and other end-users), and geography (APAC, Europe, MEA, North America, and South America).
High Temperature Cables Market – Global High Temperature Cables Market by end-users (energy, transport, industrial, and others) and geography (APAC, Europe, North America, and ROW).
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