Published Date: 28-Feb-2023
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According to a new report, published by KBV research, The Global HVAC Actuators Market size is expected to reach $5.1 billion by 2028, rising at a market growth of 4.7% CAGR during the forecast period.
The Non Spring Return segment is showcasing a CAGR of 6.7% during (2022 - 2028). The single point-centered connection is used in smaller torque actuators or the novel self-centering shaft adapter utilized in non-spring return actuators that help concentrically retain the damper shaft without callbacks or slippage. Both of these properties improve the energy efficiency of non-spring return actuators. As a result, the demand for them is increasing, propelling the segment’s expansion.
The Conventional segment acquired maximum revenue share in the Global HVAC Actuators Market by Technology in 2021 thereby, achieving a market value of $2.9 billion by 2028. Electric, pneumatic and hydraulic motors are used as input power in conventional actuators. In the electric motor, the electrical energy is transformed into mechanical energy, while hydraulic and pneumatic actuators use fluid to produce mechanical motion. Conventional HVAC systems and actuators are widely used in many emerging regions and with time their demand is increasing further, thereby maintaining the development of the segment.
The Commercial Building segment has shown the growth rate of 5.2% during (2022 - 2028). Hospitals, colleges, and shopping malls are some examples of commercial settings that employ HVAC systems. The increase in globalization and investments in establishing effective commercial facilities, which include management and automation systems for buildings, have an impact on the growth of the HVAC actuators market for commercial applications.
The Asia Pacific market dominated the Global HVAC Actuators Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2 billion by 2028. The Europe market is exhibiting a CAGR of 4.3% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 4.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/hvac-actuators-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
Unique Offerings from KBV Research
North America HVAC Actuators Market size & Opportunities 2022-2028
Europe HVAC Actuators Market & Growth Forecast 2022-2028
Asia Pacific HVAC Actuators Market Share & Industry Outlook to 2028
LAMEA HVAC Actuators Market Growth, Trends & Forecasts 2022-2028