Market Overview:
The global wireless room thermostats market is expected to grow at a CAGR of 6.5% 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 home solutions across the globe. In addition, the growing awareness about climate change and its impact on human health is also driving the demand for wireless room thermostats. The global wireless 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 and 24 volt thermostats. Millivolt Thermostat are low voltage devices that use a battery as power source where as 24 Volt Thermostat uses line voltage as power source .On basis of application, it can be classified into household applications and commercial applications .
Product Definition:
A wireless room thermostat is a device that allows you to control the temperature of a room without having to be in the same room as the thermostat. This can be helpful if you want to make sure your home is comfortable when you're not there, or if you want to save energy by regulating the temperature of specific rooms.
Millivolt Thermostats:
Millivolt thermostats are electronic temperature control devices that function on the principle of changing the current, which is dependent on temperature. They can be used in wireless room thermostats and portable millivolt heaters. Millivolt heaters are also known as digital thermometers or precision thermometers and they have gained popularity owing to their ability to provide accurate heating at a low cost, small size & weight along with easy installation process.
24 Volt Thermostats:
24 volt thermostats are electronic devices used to control the temperature of a room. They can be battery operated or plug in and they work on the principle of two way communication between them and the controlling device. The controlling device can be a smartphone, tablet or even an apple watch; it is usually used by people who are away from home but want to maintain the temperature of their rooms.
Application Insights:
The commercial segment held the largest share of over 70.0% in 2017. The growth can be attributed to the increasing adoption of these products in hotels, hospitals and restaurants among other commercial establishments. In addition, growing demand for energy-efficient products is expected to drive the demand from residential applications over the forecast period.
Household application is expected to register a significant CAGR of XX% from 2018 to 2030 owing to rising awareness regarding health issues related with temperature and changing room temperatures at will without reason or purpose as well as due to technological advancement coupled with improved product design that makes them user-friendly across all age groups including children.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. This can be attributed to increasing adoption of smart home technologies and growing demand for energy-efficient products in this region. Asia Pacific is anticipated to witness significant growth over the next eight years owing to rising disposable income, improving standard of living, and rapid urbanization across emerging economies such as India and China.
The European market consists of major countries including Germany, Italy, Spain along with other Eastern & Central European countries like Bulgaria, Republic of Macedonia (FYROM), Greece etc., which have a long tradition in manufacturing quality room thermostats since 1924 when they were first introduced by Siemens AG & Co., Ltd., Japan under brand name 'Tecnofrost'.
Growth Factors:
- Increasing demand for energy-efficient devices: The global market for wireless room thermostats is expected to grow at a CAGR of more than 9% from 2016 to 2020. This growth can be attributed to the increasing demand for energy-efficient devices across the world.
- Rising awareness about the benefits of using wireless room thermostats: There is a growing awareness among consumers about the benefits of using wireless room thermostats, such as improved comfort and convenience, reduced energy consumption, and enhanced security. This is likely to boost the demand for these devices in the coming years.
- Growing popularity of smart homes: The popularity of smart homes is another major factor that is expected to drive growth in the global market for wireless room thermostats over the next few years. Smart home technologies are becoming increasingly popular due to their ability to provide homeowners with enhanced comfort, convenience, and security.
Scope Of The Report
Report Attributes
Report Details
Report Title
Wireless Room Thermostats Market Research Report
By Type
Millivolt Thermostats, 24 Volt Thermostats
By Application
Household, Commercial
By Companies
ABB, Emerson Electric, Honeywell, Siemens, Danfoss, Johnson Controls, Schneider Electric, Viconics, Carrier Corporation, VENSTAR, Venstar, Trane, KMC, Saswell, ASIC, Hailin, Shenzhen Yikecheng I&E, TELIN, Nest Labs
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
164
Number of Tables & Figures
115
Customization Available
Yes, the report can be customized as per your need.
Global Wireless Room Thermostats Market Report Segments:
The global Wireless Room Thermostats market is segmented on the basis of:
Types
Millivolt Thermostats, 24 Volt 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:
- ABB
- Emerson Electric
- Honeywell
- Siemens
- Danfoss
- Johnson Controls
- Schneider Electric
- Viconics
- Carrier Corporation
- VENSTAR
- Venstar
- Trane
- KMC
- Saswell
- ASIC
- Hailin
- Shenzhen Yikecheng I&E
- TELIN
- Nest Labs
Highlights of The Wireless 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
- 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 Wireless 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.
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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?
Wireless Room Thermostats are a type of thermostat that uses radio waves to communicate with the heating or cooling system in your home. This type of thermostat is often more energy-efficient than traditional thermostats, as it does not require any wiring or installation.
Some of the major players in the wireless room thermostats market are ABB, Emerson Electric, Honeywell, Siemens, Danfoss, Johnson Controls, Schneider Electric, Viconics, Carrier Corporation, VENSTAR, Venstar, Trane, KMC, Saswell, ASIC, Hailin, Shenzhen Yikecheng I&E, TELIN, Nest Labs.
The wireless room thermostats market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Wireless 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 Wireless Room Thermostats Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Wireless 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 Wireless 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 Wireless Room Thermostats Market Size & Forecast, 2020-2028 4.5.1 Wireless Room Thermostats Market Size and Y-o-Y Growth 4.5.2 Wireless 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
5.3 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 Wireless 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 Wireless 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
9.7 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
10.7 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
11.7 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
12.7 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
13.7 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 Wireless Room Thermostats Market: Competitive Dashboard
14.2 Global Wireless Room Thermostats Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 Emerson Electric
14.3.3 Honeywell
14.3.4 Siemens
14.3.5 Danfoss
14.3.6 Johnson Controls
14.3.7 Schneider Electric
14.3.8 Viconics
14.3.9 Carrier Corporation
14.3.10 VENSTAR
14.3.11 Venstar
14.3.12 Trane
14.3.13 KMC
14.3.14 Saswell
14.3.15 ASIC
14.3.16 Hailin
14.3.17 Shenzhen Yikecheng I&E
14.3.18 TELIN
14.3.19 Nest Labs