Market Overview:
The global electrical room thermostats market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy-efficient and smart thermostats across the globe. In addition, the growing awareness about energy conservation is also propelling the growth of this market. The global electrical room thermostats market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into millivolt thermostats, 24 volt thermostats, and line voltage thermostats. Millivolt thermometers are used in low voltage applications such as heating systems that do not require a neutral wire in order to function properly; whereas 24 volt thermometers are used for high-voltage applications such as air conditioning systems or refrigeration units where two wires carrying current (live and neutral) are present in order to control temperature accurately.
Product Definition:
An electrical room thermostat is a device used to regulate the temperature of an electrical room. This type of thermostat is important because it helps to ensure that the equipment in the electrical room stays at a safe temperature.
Millivolt Thermostats:
Millivolt is the current that flows past a given point per second. The unit of measure used to express the voltage in terms of one thousandth of a volt is called millivolt (mV). A typical household electrical outlet can deliver up to 600 milliamps (mA) and an automobile battery can provide up to 0.25 ampere (A).
24 Volt Thermostats:
24 volt thermostats are electronic devices used to control the temperature of a heating, cooling or hot water system. They can be programmed for different temperatures and have an easy to read LCD display. The device is designed in such a way that it can easily regulate the temperature in an electrical room with no auxiliary heaters or pumps required.
Application Insights:
Electrical room thermostats are used in a variety of applications including commercial and household. The household segment dominated the market with a share of over 60% in 2017. This is attributed to rising demand for energy-efficient products as well as awareness regarding cost-effectiveness associated thermostats among consumers, especially in developing countries like India and China.
The commercial application segment is expected to witness significant growth over the forecast period owing to growing demand from HVAC (heating, ventilation, and air conditioning) systems across various end-use industries such as healthcare facilities, data centers, educational institutes and offices etcetera globally. In addition, increasing number of hospitals along with rising prevalence rate of chronic diseases will drive product demand in this sector further driving market growth during the forecast period 2018 - 2030 ¢â‚¬â€œ 2030.
Regional Analysis:
Asia Pacific is expected to be the largest regional market over the forecast period owing to increasing demand from commercial and industrial applications. The region accounted for a revenue share of more than 30% in 2017, which can be attributed to rising investments in developing countries such as China and India. In addition, growing awareness regarding energy conservation is anticipated to propel product demand over the coming years.
The European electrical room thermostats market was valued at USD X million in 2017 owing to high consumption levels from residential applications particularly in Germany, U.K., Italy, France and Spain coupled with stringent government regulations pertaining energy consumption norms across Europe are some of the factors that contributed toward higher product sales volume within this region during last year.
In North America also known as Americas; Mexico has been witnessing significant growth on account of increasing construction activities along with rapid urbanization resulting into increased requirement for infrastructure development including buildings houses hospitals colleges etc.
Growth Factors:
- Increasing demand for energy-efficient electrical room thermostats from commercial and residential sectors
- Rising awareness about the benefits of using electrical room thermostats among consumers
- Technological advancements in electrical room thermostats that offer enhanced features and performance
- Growing popularity of smart home technologies that enable users to control their environment through electronic devices
- Proliferation of internet of things (IoT) across various industries, which is expected to create new opportunities for the growth of the electrical room thermostats market
Scope Of The Report
Report Attributes
Report Details
Report Title
Electrical Room Thermostats Market Research Report
By Type
Millivolt Thermostats, 24 Volt Thermostats, Line Voltage Thermostats
By Application
Household, Commercial
By Companies
Honeywell, Siemens, Johnson Controls, Schneider-electri, Danfoss, NEST, Carrier, VENSTAR, EMERSON, Trane, Honeywell, Saswell, ASIC, ABB, Viconics, Hailin, YiKeCHENG, TELIN
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
152
Number of Tables & Figures
107
Customization Available
Yes, the report can be customized as per your need.
Global Electrical Room Thermostats Market Report Segments:
The global Electrical Room Thermostats market is segmented on the basis of:
Types
Millivolt Thermostats, 24 Volt Thermostats, Line Voltage Thermostats
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Household, Commercial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Honeywell
- Siemens
- Johnson Controls
- Schneider-electri
- Danfoss
- NEST
- Carrier
- VENSTAR
- EMERSON
- Trane
- Honeywell
- Saswell
- ASIC
- ABB
- Viconics
- Hailin
- YiKeCHENG
- TELIN
Highlights of The Electrical Room Thermostats Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Millivolt Thermostats
- 24 Volt Thermostats
- Line Voltage Thermostats
- By Application:
- Household
- Commercial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electrical Room Thermostats Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Electrical room thermostats are devices that allow people to control the temperature in their rooms. They typically have a set of buttons or a touch screen, and users can adjust the temperature by pressing one of the buttons or touching the screen.
Some of the major companies in the electrical room thermostats market are Honeywell, Siemens, Johnson Controls, Schneider-electri, Danfoss, NEST, Carrier, VENSTAR, EMERSON, Trane, Honeywell, Saswell, ASIC, ABB, Viconics, Hailin, YiKeCHENG, TELIN.
The electrical room thermostats market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Electrical Room Thermostats Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Electrical Room Thermostats Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Electrical Room Thermostats Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Electrical Room Thermostats Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Electrical Room Thermostats Market Size & Forecast, 2020-2028 4.5.1 Electrical Room Thermostats Market Size and Y-o-Y Growth 4.5.2 Electrical Room Thermostats Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Millivolt Thermostats
5.2.2 24 Volt Thermostats
5.2.3 Line Voltage Thermostats
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Household
6.2.2 Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Electrical Room Thermostats Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Electrical Room Thermostats Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Millivolt Thermostats
9.6.2 24 Volt Thermostats
9.6.3 Line Voltage Thermostats
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Household
9.10.2 Commercial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Millivolt Thermostats
10.6.2 24 Volt Thermostats
10.6.3 Line Voltage Thermostats
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Household
10.10.2 Commercial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Millivolt Thermostats
11.6.2 24 Volt Thermostats
11.6.3 Line Voltage Thermostats
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Household
11.10.2 Commercial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Millivolt Thermostats
12.6.2 24 Volt Thermostats
12.6.3 Line Voltage Thermostats
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Household
12.10.2 Commercial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Millivolt Thermostats
13.6.2 24 Volt Thermostats
13.6.3 Line Voltage Thermostats
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Household
13.10.2 Commercial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Electrical Room Thermostats Market: Competitive Dashboard
14.2 Global Electrical Room Thermostats Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Honeywell
14.3.2 Siemens
14.3.3 Johnson Controls
14.3.4 Schneider-electri
14.3.5 Danfoss
14.3.6 NEST
14.3.7 Carrier
14.3.8 VENSTAR
14.3.9 EMERSON
14.3.10 Trane
14.3.11 Honeywell
14.3.12 Saswell
14.3.13 ASIC
14.3.14 ABB
14.3.15 Viconics
14.3.16 Hailin
14.3.17 YiKeCHENG
14.3.18 TELIN