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.
The hydronic control market is estimated to grow from USD 32.40 billion in 2018 to USD 37.70 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.
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.
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 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.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Hydronic Control Market, By Equipment
8 Hydronic Control Market, By Installation Type
9 Hydronic Control Market, By Sector
10 Hydronic Control Market, By Geography
11 Competitive Landscape
12 Company Profiles
- Johnson Controls
- Schneider Electric
- IMI plc