Dublin, Dec. 18, 2018 (GLOBE NEWSWIRE) -- The "Hydronic Control Market by Equipment (Actuators, Valves, Flow Controllers, Control Panels, and Others), Installation Type (New, Retrofit), Sector (Residential, Commercial, Industrial), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
Hydronic control market to grow at CAGR of 3.1% during forecast period
The hydronic control market is estimated to grow from USD 32.4 billion in 2018 to USD 37.7 billion by 2023, at a CAGR of 3.1% from 2018 to 2023.
The growth of the hydronic control market is driven by the need for efficient use of energy in buildings, the emergence of the construction market, and the trend of automation in commercial, industrial, and residential sectors in developing countries.
However, factors such as lack of awareness about the benefits of hydronic controls and the high cost of skilled labor and installation hinder the market growth.
Market for flow controllers to witness highest CAGR during forecast period
The market for flow controllers is estimated to grow at a higher CAGR during the forecast period. Flow controller ensures the appropriate rate of flow is directed to the right location to increase the efficiency within the hydronic system.
Self-acting flow controllers are primarily used in district heating systems. The controller closes when the flow is exceeded from its pre-set position. These attributes result in the high growth rate of flow controllers during the forecast period.
Market for residential sector to witness highest CAGR during forecast period
The market for residential sector is estimated to grow at a higher CAGR during the forecast period. The residential application includes buildings and independent houses for hydronic controls. The boom in the residential segment of the construction industry increases the demand for hydronic equipment such as actuators, valves, and control panels.
The boom in the construction sector is witnessed mainly in countries such as India and China. Rising average disposable income in these countries, benefits of efficient energy usage, and increasing the cost of power is encouraging people to adopt energy-efficient technologies and equipment for daily activities.
North America to dominate hydronic control market, while RoW expected to grow at highest CAGR during forecast period
North America held the largest share of the hydronic control market in 2017 owing to the presence of major hydronic control vendors. Continuous growth in construction and renovation of residential and commercial buildings are among the major factors supporting the growth of the hydronic control market, along with the increasing adoption of IoT in smart housing. Government regulations regarding environmental safety and water quality are also among the major drivers for the growth of the hydronic control market in North America.
RoW comprises the Middle East and Africa. The rising adoption of hydronic controls for commercial applications in this region is driving the growth of the said market in RoW. Owing to harsh weather conditions, the adoption of HVAC systems is vital in locations such as data centers, commercial, and residential complexes. Growing market for HVAC systems supports the growth of the hydronic control market in this region.
Key Topics Covered
1 Introduction
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Primary Sources
2.1.3 Secondary and Primary Research
2.1.3.1 Key Industry Insights
2.1.3.2 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach for Arriving at the Market Size By Bottom-Up Analysis
2.2.2 Top-Down Approach
2.2.2.1 Approach for Capturing the Market Size By Top-Down Analysis
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumption
3 Executive Summary
4 Premium Insights
4.1 Hydronic Control Market Opportunities
4.2 Hydronic Control Market, By Equipment
4.3 Hydronic Control Market, By Installation Type
4.4 Hydronic Control Market, By Sector
4.5 Hydronic Market in North America, By Sector and Country (2018)
4.6 Hydronic Control Market, By Geography
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Need for Efficient Use of Energy in Buildings
5.2.1.2 Trend of Automation in Commercial, Industrial, and Residential Sectors in Developing Countries
5.2.1.3 Emergence of Construction Market Boost Adoption of Hydronic Control
5.2.2 Restraints
5.2.2.1 Lack of Awareness About Benefits of Hydronic Controls
5.2.2.2 High Cost of Skilled Labor and Installation
5.2.3 Opportunities
5.2.3.1 Rising Wave of Smart Cities
5.2.3.2 Increasing Environmental Awareness and Energy Efficiency Standards
5.2.4 Challenges
5.2.4.1 Limited Technically Skilled Staff
6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Regulatory Standards
6.3.1 Montreal Protocol
6.3.2 Kyoto Protocol
6.3.3 Leed Certification
7 Hydronic Control Market, By Equipment
7.1 Introduction
7.2 Valves
7.2.1 Gate Valve
7.2.2 Globe Valve
7.2.3 Ball Valve
7.2.4 Zone Valve
7.2.5 Balancing Valve
7.3 Actuators
7.4 Control Panels
7.5 Flow Controller
7.6 Others
8 Hydronic Control Market, By Installation Type
8.1 Introduction
8.2 New Installation
8.3 Retrofit Installation
9 Hydronic Control Market, By Sector
9.1 Introduction
9.2 Residential
9.3 Commercial
9.3.1 Healthcare
9.3.2 Government
9.3.3 Academic & Institution
9.3.4 Retail
9.3.5 Hospitality
9.4 Industrial
10 Hydronic Control Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Russia
10.3.5 The Netherlands
10.3.6 Rest of Europe
10.4 APAC
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 Rest of APAC
10.5 South America
10.5.1 Brazil
10.5.2 Chile
10.5.3 Argentina
10.6 RoW
10.6.1 Middle East
10.6.2 Africa
11 Competitive Landscape
11.1 Overview
11.2 Market Ranking Analysis
11.3 Competitive Situation & Trends
11.3.1 Partnerships, Agreements, and Contracts
11.3.2 Product Launches
11.3.3 Expansions
11.3.4 Acquisitions, Mergers, and Joint Venture
12 Company Profiles
12.1 Key Players
12.1.1 Danfoss
12.1.2 Siemens
12.1.3 Johnson Control
12.1.4 Honeywell
12.1.5 Schneider Electric
12.1.6 IMI PLC
12.1.7 Belimo
12.1.8 Giacomini
12.1.9 Caleffi
12.1.10 Flamco
12.2 Other Key Players
12.2.1 Armstrong Fluid Technology
12.2.2 Oventrop
12.2.3 Reflex Winkelmann
12.2.4 Spirotech
12.2.5 Xylem
For more information about this report visit https://www.researchandmarkets.com/research/x4qvxb/the_37_7_billion?w=12
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.