The Europe HVAC Actuators Market would witness market growth of 4.3% CAGR during the forecast period (2022-2028).
One of the key factors fueling the expansion of the HVAC actuators market is the rapid adoption of HVAC systems in building automation systems (BASs). Additionally, owing to improvements in wireless sensor technologies and protocols, the deployment of BASs is rising significantly. Additionally, the increased demand for BAS implementation in office complexes and sizable shopping centers to boost management systems' productivity fuels the market's expansion on a worldwide scale.
The current HVAC systems include various devices, including actuators and sensors that track and regulate factors like temperature, airflow, and others. As a result, the HVAC systems are susceptible to thermal sensitivity, cooling sensation, and electrical problems. HVAC systems have been deployed in several facility projects, each distinct and special.
The demand for HVAC equipment in European nations is anticipated to rise due to government requirements pertaining to energy efficiency and environmentally friendly refrigerants. The government of Germany is encouraging the rapid development of efficient and renewable heating & cooling technology. In Germany, this initiative has caused a large market shift, contributing to the HVAC sector's expansion. As a result, the variety of efficient and renewable technologies has increased significantly, including condensing boilers, CHP, heat pumps, solar thermal, and pellet heating systems. By 2050, Germany wants to establish a nearly climate-neutral building stock as part of its continuous shift to a renewable and sustainable energy system. In Germany, 75% of buildings were constructed prior to 1980, making rehabilitation of the current stock essential to achieving energy efficiency goals. This supports the growth of the regional market.
The Germany market dominated the Europe HVAC Actuators Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $302.2 Million by 2028. The UK market is anticipated to grow at a CAGR of 3.3% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 5.2% during (2022 - 2028).
Based on Type, the market is segmented into Spring Return and Non Spring Return. Based on Technology, the market is segmented into Conventional and Smart. Based on Application, the market is segmented into Industrial Facilities, Commercial Building and Public Utilities. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global HVAC Actuators Market will Hit $5.1 Billion by 2028, at a CAGR of 4.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Continental AG, Denso Corporation, Dwyer Instruments LTD.(Arcline Investment Management), Honeywell International, Inc., Johnson Controls International PLC, Robert Bosch GmbH, Schneider Electric SE , Siemens AG, ElectroCraft, Inc. (DMI Technology Corporation), and Rotork Plc.
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