Use of air flow sensors in building automation projects, especially as a component in HVAC systems are positioned to create plethora of white spaces for air flow sensor manufacturers. China along with ASEAN and South Asian countries to captivate global air flow sensor industry stakeholders.
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The long-term outlook on the global Air Flow Sensor market will remain positive, with the market value expected to increase at a CAGR of 3.6% during the forecast period. In the report, average volume per year from air flow sensors has been expressed in volume (‘000 Units). According to end use industry, the building automation segment is expected to register healthy growth during the forecast period, with companies focusing on developing integrated solutions as per the demand from various countries. Based on output type, the analog segment is expected to witness a significant CAGR, in terms of volume and value, during the forecast period.
Estimated sales of air flow sensors in the global market is estimated to be valued at US$ 1,942.5 Mn by the end of 2018, witnessing a CAGR growth of 3.6% over the forecast period. North America, China and Europe are expected to account for a lion’s share of the global air flow sensor market by the end of 2026 and are expected to retain their positions during the forecast period.
Global Airflow Sensors Market Dynamics
Sales of automotive is directly proportional to the production of automotive parts. Despite the fact that the world economy is in an unstable condition, on an average, the automotive industry is expected to witness significant growth, which in turn, will drive the demand in the automotive parts market and hence, drive the market of airflow sensors. Further, climate change has forced government bodies to place strict regulations on the emission of particulate matters, such as Sulphur oxides and nitrogen oxide, etc. The Paris Agreement by UNFCC, EPA (Energy Protection Agency) guidelines by the U.S. government for wastewater management, new emission standards by the government of China will restrict the emission of VOCs (volatile organic components) in these country. These new regulations will also contribute to the growth of the airflow sensors market over the projected period. Moreover, increasing adoption of airflow sensors in healthcare industry will augment the growth of the airflow sensors market substantially.
On the other hand, the present grey market of airflow sensors is expected to hinder the growth of the airflow sensors market, especially the automotive air flow sensor market during the forecast period.
Global Airflow Sensors Market Forecast
On the basis of flow range, air flow sensor market insights suggest that the ‘Upto 50 SLPM’ segment will continue to dominate the market during the forecast period and will be followed by the ‘Above 50 SLPM’- segment. On the basis of end-use, the building automation segment, followed by healthcare segment, is projected to dominate the airflow sensors market in terms of values and volume during the forecast period. In 2017, the building automation segment accounted for a significant market value share. In terms of volume, the healthcare segment is expected to grow with a healthy CAGR over the forecast period.
China & Europe air flow sensors market may continue to dominate the global airflow sensors market during the forecast period. North America air flow sensor market is expected to be next in the run owing to prompt adoption of automobile and healthcare equipment. Latin America and MEA are estimated to grow at above average pace over the projected period. Germany & United Kingdom are expected to hold major revenue share in the Europe air flow sensor market over the forecast period.
Global Airflow Sensors Market Competitive Landscape
Some of the key market participants included in the Global Air Flow Sensors market report are TE Connectivity, Honeywell International Inc., DENSO CORPORATION, First Sensor AG, Delphi Technologies, HELLA GmbH & Co. KGaA, Continental AG, Sensata Technologies, Inc., TDK Corporation, Siemens AG, OMRON Corporation, and Robert Bosch GmbH and others.
News source link: https://www.factmr.com/report/1259/air-flow-sensors-market