Infinium Global Research has added a new report on Global HVAC Relay Market. The report covers the analysis of global as well as regional markets of HVAC relay. Moreover, the report gives insights into the factors that affect the global as well as regional performance of the market in the short run and in the long run. According to the report, the global HVAC relay market is projected to grow at a CAGR of 7.1% over the forecast period of 2019-2025.
HVAC Relay Market: Drivers and Restraints
The growing demand for electrical power from offshore wind farms and the need for electricity, and long distance transmission network are driving the growth of the HVAC relays market. Increasing construction of non-residential buildings and growth in investments in the sector are driving the growth of the HVAC relay market. However, the high initial setup costs of HVAC systems restrains the growth of the market. Moreover, the technological advances in the development of HVAC systems are expected to provide growth opportunities to the market players.
HVAC Relay Market: Segmentation
The HVAC relay market is segmented on the basis of type and applications. On the basis of type, the market is segmented into the electromagnetic relay, solid state, thermal relay, hybrid relay, and other types. The electromagnetic relay holds the large market share of the HVAC relay market. Based on applications, the market is segmented into automotive, industrial, commercial, and residential. The residential segment dominated the global HVAC relay market followed by the commercial segment.
HVAC Relay Market: Regional Insight
Among the geographic regions, Asia-Pacific is the largest market for the HVAC relay market due to the rising demand of HVAC relay systems in application segments in the region. The Asia Pacific region is a global leader in the HVAC industry. The market in the Asia Pacific is projected to expand faster than that in other regions during the forecast period. Additionally, development of power infrastructure and government initiatives and investments in renewable energy sources and application of smart grid technology are expected to boost the market growth in countries such as China, India, and Japan in the future.
HVAC Relay Market: Competitive Analysis
Some of the industry participants of the global HVAC relay market are Eaton Corporation Inc., Siemens AG, TE Connectivity Limited, C&S Electric Limited, General Electric, ABB, Littlefuse, Inc., Hitachi, Ltd., Mitsubishi Electric Corporation, and Rockwell Automation, Inc. among the others.
Browse Detailed TOC, Description, and Companies Mentioned in Report @ https://www.infiniumglobalresearch.com/energy-mining-infra/global-hvac-relay-market
Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the HVAC Relay.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
