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Automatic Environmental Control Global Market Report 2022

Automatic Environmental Control Global Market Report 2022

  • March 2022
  • 175 pages
  • ID: 6247465
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the market are Johnson Controls, Inc., Schneider Electric, United Technologies Corporation, Honeywell International Inc., and Ingersoll Rand.

The global automatic environmental control market is expected to grow from $14.77 billion in 2021 to $16.20 billion in 2022 at a compound annual growth rate (CAGR) of 9.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $21.16 billion in 2026 at a CAGR of 6.9%.

The automatic environmental control market consists of sales of automatic environmental control devices and related services.This industry comprises establishments primarily engaged in manufacturing automatic controls and regulators for applications.

Automatic environmental control devices include airflow controllers, air conditioning and refrigeration, heating and cooling system controls, and heating regulators.

The main types in the automatic environmental control market are heating equipment, refrigeration equipment, air conditioning equipment.The heating equipment in the automatic environmental control market refers to the heating systems that provide heat maintained at the thermal level.

These are used in residential, commercial, and industrial.

The Asia Pacific is the largest region in the automatic environmental control market in 2021.North America is the second-largest region in the automatic environmental control market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Rapid growth in manufacturing industries is a key factor driving the growth of the automatic environmental control market.In the Indian economy, industrial manufacturing is the major growing sector with diverse companies engaged in the manufacturing of machinery and equipment, building and construction material, rubber and plastic products, electrical and mechanical products, cement, and automation technology products.

Growth in manufacturing outputs in China and Brazil will be the highest in the next five years. The countries will grow at an annual growth rate of 7.1% and 5.0%, respectively. Therefore, the growth in manufacturing industries is expected to increase the growth of the automatic environmental control market.

Rising trade protectionism acts as a major challenge in the automatic environmental control market.Trade protectionism is characterized as a country, or a group of countries working related as an exchange alliance, making exchange boundaries with the particular objective of protecting its economy from the potential dangers of worldwide trading.

The target of trade protectionism is to ensure a country’s fundamental monetary interests, for example, its key ventures, wares, and work of laborers.A wide number of trade barriers have been introduced, the major one has been higher tariffs on bilateral trade between the US and China.

This increase in protectionism has contributed to a slowdown in global growth through direct effects on trade flows, supply chains, and import costs, and indirect effects on business sentiment, uncertainty, and investment around the world. Therefore, rising trade protectionism will negatively impact the automatic environmental control market’s growth.

Smart Thermostat is a key trend in the automatic environmental control market.Smart thermostats use smart technology that can be operated using mobile phones, laptops, smart speakers, or other computers connected to the internet that allows scheduling preferred temperature settings, and they can also be integrated into home automation systems.

For instance, Ecobee was the first to introduce the smart thermostat solution into the market.The company has seen its revenues double every year, it is estimated that the Ecobee sales will reach $1 billion by 2020.

Across North America, Ecobee holds 30% of the market share in smart thermostats.

The countries covered in the automatic environmental control market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, USA, and Australia.

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