The MEA HVAC sensors market is expected to grow from US$ 308.24 million in 2019 to US$ 409.22 million by 2027; it is estimated to grow at a CAGR of 4.0% from 2020 to 2027.
The development of smart, connected, and energy efficient IOT-enabled HVAC systems bolsters the market growth. At present, air conditioners and electric fans contribute to ~20% of the total electricity consumption in a building. The growing energy demands from HVAC systems is resulting in rising costs of electricity; therefore, the HVAC manufacturers across MEA are seeking ways to enhance their products’ energy efficiency and offer customers tools that can help them monitor their devices/systems. Advanced IoT-enabled sensors facilitate users to gain information on outdoor radiant temperature, indoor air temperature, circulation patterns, air speed, and indoor and outdoor humidity, among others. The information collected by the smart sensors is transferred to central database that connects the HVAC system to the internet. Through this, the status is then exported to apps and dashboards. It further enables importing information such as weather forecasts as well as user preferences. Automatic HVAC systems can be adjusted as per the forecasts and user preferences without the user input. IoT is transforming standalone systems into connected devices with integrated sensors facilitating building owners in saving energy consumption significantly in HVAC systems. The demand for smart IoT-enabled HVAC systems is anticipated to propel in coming days with the decreasing price of IOT-enabled sensors, which would drive the MEA HVAC sensors market during the forecast period.
Countries in MEA, especially South Africa, are adversely affected due to the COVID-19 outbreak. Pertaining to the closure of countries’ borders, the supply chain of several components and parts is disturbed, which hinders the MEA HVAC sensors market. The demand for HVAC systems and sensors has weakened since the eruption of COVID-19 in the MEA countries. This has resulted in a loss of business among the HVAC systems and HVAC sensor manufacturers who are offering their products to various industries in the region. Countries with higher manufacturing units such as Turkey, Israel, and South Africa are witnessing critical scenarios in procuring various electronics and semiconductor products, including sensors, which is hampering in MEA HVAC sensors market. The construction activity in the region is among the rapidly growing industries. The UAE, Saudi Arabia, and Qatar represent the forerunners in the GCC construction industry. The outbreak of novel coronavirus had paused several construction activities in the countries mentioned above and some of the projects are still likely to remain halted, which is restraining the MEA HVAC sensors market.
Based on type, the temperature sensors segment led the MEA HVAC sensors market in 2019. Temperature sensors are essential for maintaining air temperature. The temperature sensors are of different types: indoor temperature sensor, indoor evaporator line temperature sensor, outdoor ambient temperature senor, outdoor condenser line temperature sensor, and outdoor unit compressor exhaust temperature sensor. An indoor temperature sensor is fixed in the air inlet of the air conditioner’s evaporator and is used to ensure that the indoor temperature reaches the predefined value. An indoor evaporator line temperature sensor is used to control cooling during summer, control indoor fan motor speed, anti-cold wind control, realize fault self-diagnosis, and defrosting of the outdoor unit during heating. An outdoor ambient temperature sensor is used to control the outdoor fan motor speed during heating or cooling and for controlling the system for automatic protection when the outdoor temperature is extremely high or low. An outdoor condenser line temperature sensor helps in defrosting the outdoor unit when heating and provides overheat protection or antifreeze protection. The outdoor unit compressor exhaust temperature sensor helps in automatically protecting the control system if the temperature of the compressor exhaust pipe is extremely high. Major use of temperature sensor i.e. maintaining air temperature and presence of different variant of temperature sensors are expected to increase its demand in coming years.
The overall MEA HVAC sensors market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the MEA HVAC sensors market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the MEA HVAC sensors market. Emerson Electric Co.; Honeywell International Inc.; Johnson Controls, Inc.; Schneider Electric; Sensirion AG; Siemens AG; and TE Connectivity Ltd. are among the players operating in the market.