Market Overview:
The global millivolt 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 devices and the growing awareness about energy conservation among consumers. In addition, the increasing adoption of millivolt thermostats in commercial and residential applications is also contributing to the growth of this market. The global millivolt thermostats market can be segmented on the basis of type into digital and mechanical millivolt thermostats. The digital segment is expected to grow at a higher CAGR than the mechanical segment during the forecast period from 2018 to 2030. This can be attributed to factors such as technological advancements and rising demand for smart home devices among consumers worldwide. On the basis of application,the global millivolt thermostatsmarket can be divided into commercial use and residential use segments.
Product Definition:
A millivolt thermostat is a type of thermostat that uses millivolts to control the temperature of a room or building. Millivolt thermostats are important because they are more accurate and sensitive than other types of thermostats, and can be used to control the temperature of a room or building within +/- 1 degree Fahrenheit.
Digital:
Digital technology is used in various devices ranging from computers to household appliances. Digital technology has been around for more than two decades but its penetration was limited in the consumer electronics market. However, over the last few years, there has been a tremendous growth in digital technologies and it is expected to change the way products are designed, developed and marketed.
Mechanical:
Mechanical is a type of sensor technology that involves the use of physical objects to measure and detect changes in the environment. It comprises various technologies such as photoelectric, capacitive, thermal infrared, and optical sensors. These technologies are used to build micro-electro-mechanical systems (MEMS) for converting environmental variables into electrical signals.
Application Insights:
Commercial use was the largest application segment in 2017 and is expected to continue its dominance over the forecast period. The commercial sector mainly includes industries, such as oil & gas, power generation, healthcare and food processing. Millivolt thermostats are used for controlling processes ranging from heating to cooling in these industries owing to their small size and low cost.
The residential segment is expected to register a significant CAGR of XX% from 2018 to 2030 on account of increasing adoption due largely by millennials who prefer smart devices over traditional appliances. These smart devices can be controlled through an app which provides users with control over temperature settings along with other useful information regarding energy consumption habits of residents at a specific location or within an entire building.
Regional Analysis:
Asia Pacific region accounted for the largest share in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing commercial and residential construction activities in emerging economies, such as India, China, Indonesia, Malaysia Philippines. Moreover, rising number of smart homes is anticipated to drive demand for home automation products across this region.
The market in Europe was valued at USD X million in 2017 and is projected to expand at a CAGR of XX% from 2018 to 2030 owing to growing geriatric population coupled with an increase in healthcare spending on a global level.
Growth Factors:
- Increasing demand for energy-efficient devices: Millivolt thermostats are more energy efficient as compared to other types of thermostats available in the market. This is one of the key drivers for the growth of this market.
- Rising awareness about the benefits of using millivolt thermostats: There is a growing awareness among consumers about the benefits of using millivolt thermostats, such as improved comfort and energy savings. This is also contributing to the growth of this market.
- Technological advancements: The development and launch of new technologies and products in this market are helping to drive its growth. For instance, smart millivolt thermostats that can be controlled through smartphones or other devices are gaining popularity among consumers due to their enhanced features and functionality.
- Growing demand from residential sector: The residential sector accounts for a major share in terms of revenue generated by millivolt thermostat sales worldwide owing to increasing adoption by homeowners across different regions globally .
Scope Of The Report
Report Attributes
Report Details
Report Title
Millivolt Thermostats Market Research Report
By Type
Digital, Mechanical
By Application
Commercial Use, Residential Use
By Companies
Lux, Orbit, Emerson, Everwarm, Ambient Technologies, Empire Comfort Systems, Honeywell, Southwire, White-Rodgers, TPI Corporation, Robertshaw, Hunter Fan Company, Pentair, Southbend Range
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
174
Number of Tables & Figures
122
Customization Available
Yes, the report can be customized as per your need.
Global Millivolt Thermostats Market Report Segments:
The global Millivolt Thermostats market is segmented on the basis of:
Types
Digital, Mechanical
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
Commercial Use, Residential Use
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:
- Lux
- Orbit
- Emerson
- Everwarm
- Ambient Technologies
- Empire Comfort Systems
- Honeywell
- Southwire
- White-Rodgers
- TPI Corporation
- Robertshaw
- Hunter Fan Company
- Pentair
- Southbend Range
Highlights of The Millivolt 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:
- Digital
- Mechanical
- By Application:
- Commercial Use
- Residential Use
- 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 Millivolt 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
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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?
A millivolt thermostat is a type of thermostat that uses milliamps (mA) as its unit of measure. This type of thermostat is typically used in small appliances, such as radios and televisions.
Some of the key players operating in the millivolt thermostats market are Lux, Orbit, Emerson, Everwarm, Ambient Technologies, Empire Comfort Systems, Honeywell, Southwire, White-Rodgers, TPI Corporation, Robertshaw, Hunter Fan Company, Pentair, Southbend Range.
The millivolt thermostats market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Millivolt 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 Millivolt Thermostats Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Millivolt 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 Millivolt 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 Millivolt Thermostats Market Size & Forecast, 2018-2028 4.5.1 Millivolt Thermostats Market Size and Y-o-Y Growth 4.5.2 Millivolt Thermostats Market Absolute $ Opportunity
Chapter 5 Global Millivolt Thermostats 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 Millivolt Thermostats Market Size Forecast by Type
5.2.1 Digital
5.2.2 Mechanical
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Millivolt Thermostats 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 Millivolt Thermostats Market Size Forecast by Applications
6.2.1 Commercial Use
6.2.2 Residential Use
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Millivolt 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 Millivolt 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 Millivolt Thermostats Analysis and Forecast
9.1 Introduction
9.2 North America Millivolt Thermostats 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 Millivolt Thermostats Market Size Forecast by Type
9.6.1 Digital
9.6.2 Mechanical
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 Millivolt Thermostats Market Size Forecast by Applications
9.10.1 Commercial Use
9.10.2 Residential Use
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 Millivolt Thermostats Analysis and Forecast
10.1 Introduction
10.2 Europe Millivolt Thermostats 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 Millivolt Thermostats Market Size Forecast by Type
10.6.1 Digital
10.6.2 Mechanical
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 Millivolt Thermostats Market Size Forecast by Applications
10.10.1 Commercial Use
10.10.2 Residential Use
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 Millivolt Thermostats Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Millivolt Thermostats 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 Millivolt Thermostats Market Size Forecast by Type
11.6.1 Digital
11.6.2 Mechanical
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 Millivolt Thermostats Market Size Forecast by Applications
11.10.1 Commercial Use
11.10.2 Residential Use
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 Millivolt Thermostats Analysis and Forecast
12.1 Introduction
12.2 Latin America Millivolt Thermostats 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 Millivolt Thermostats Market Size Forecast by Type
12.6.1 Digital
12.6.2 Mechanical
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 Millivolt Thermostats Market Size Forecast by Applications
12.10.1 Commercial Use
12.10.2 Residential Use
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) Millivolt Thermostats Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Millivolt Thermostats 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) Millivolt Thermostats Market Size Forecast by Type
13.6.1 Digital
13.6.2 Mechanical
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) Millivolt Thermostats Market Size Forecast by Applications
13.10.1 Commercial Use
13.10.2 Residential Use
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 Millivolt Thermostats Market: Competitive Dashboard
14.2 Global Millivolt Thermostats Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Lux
14.3.2 Orbit
14.3.3 Emerson
14.3.4 Everwarm
14.3.5 Ambient Technologies
14.3.6 Empire Comfort Systems
14.3.7 Honeywell
14.3.8 Southwire
14.3.9 White-Rodgers
14.3.10 TPI Corporation
14.3.11 Robertshaw
14.3.12 Hunter Fan Company
14.3.13 Pentair
14.3.14 Southbend Range