(MENAFN- Zion Market Research) Zion Market Research has published a new report titled 'Hydronic Control Market by Equipment (Actuators, Valves, Flow Controllers, Control Panels, and Others), by Installation Type (New and Retrofit), and by Application (Residential, Industrial, and Commercial): Global Industry Perspective, Comprehensive Analysis, and Forecast, 20182025. According to the report, the global hydronic control market was valued at approximately USD 31.04 billion in 2018 and is expected to generate around USD 37.76 billion by 2025, at a CAGR of around 2.84% between 2019 and 2025.
The global hydronic control market is likely to experience a significant growth rate in the future, owing to the flourishing construction industry sector in the emerging nations. The ongoing constructional activities owing to urbanization and industrialization are the primary factors boosting this market's growth. Increase in per capita income of people coupled with high purchasing power is fuelling rapid urbanization. The growing employment opportunities are also contributing to the hydronic control market globally. Furthermore, the need for energy-efficient buildings among the growing population is likely to positively impact the hydronic control market in the future. Additionally, huge capital investments toward the ongoing constructional activities are further propelling the hydronic control market. However, the high initial investments coupled with the lack of awareness about hydronic controls may hinder the hydronic control market in the years ahead.
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By equipment, the hydronic control market is segmented into actuators, valves, flow controllers, control panels, and others. Flow controllers are expected to dominate the market in the future, as they safeguard the appropriate flow rate that is focused at the right location to increase the efficacy within the hydronic control system.
By installation type, the market is categorized into new and retrofit. The new installation segment is expected to dominate the market, as new hydronic control systems are mostly installed in new buildings and infrastructures.
By application, the market is bifurcated into industrial, commercial, and residential. The industrial segment is likely to dominate the global market in the years ahead. The industrial segment comprises big operating plants and manufacturing facilities. Energy consumption is generally higher in the industrial sector as compared to the commercial and residential sectors. Thus, the demand for hydronic control systems is also higher in the industrial sector.
By region, North America contributed an extensive revenue share to the global hydronic control market in 2018 and is expected to dominate globally in the upcoming years as well. This regional growth can be attributed to the stringent environmental rules and regulations regarding sustainability and energy efficiency across the region and the presence of the leading organizations. Europe is expected to provide significant opportunities for the development of the global hydronic control market in the future, owing to the ongoing renovation activities of the old residential and commercial infrastructures and the increasing adoption of IoT in smart housing.
Some key players of the global hydronic control market are Siemens, Danfoss, Johnson Controls, Honeywell, Schneider Electric, IMI PLC, Belimo, Giacomini, Caleffi, and Oventrop, among others.
This report segments the global hydronic control market into:
Global Hydronic Control Market: Equipment Analysis
- Actuators
- Valves
- Flow Controllers
- Control Panels
- Others
Global Hydronic Control Market: Installation Type Analysis
Global Hydronic Control Market: Installation Application Analysis
- Residential
- Industrial
- Commercial
Global Hydronic Control Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
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