HVAC pressure and digital sensors market trends and opportunity outlook 

Pandemic disrupted the operation, production and supply chain of the sensor market, which in the unlocking phase of pandemic is projected to drive sensors market growth. 

HVAC pressure sensor market to reach US$520.3 million 

According to the latest study, the 2021 growth of HVAC Pressure Sensors will have a significant change from the previous year. An HVAC sensor is used to distinguish the input temperature with building or room temperature and maintain a suitable temperature. They are utilized in chambers, duct, cable wall, etc., and control temperature, air pressure for a variety of buildings, automotive, industrial and others. 

An HVAC Pressure Sensor is one kind of sensor used in an HVAC system that allows technicians to easily monitor and adjust conditions to ensure the safety and comfort of the building’s inhabitants. The global HVAC Pressure Sensors market size was USD 352.1 million in 2020 and it is expected to reach USD 520.3 million by the end of 2027, with a CAGR of 5.7 percent during 2021-2027. 

From perspective of type, HVAC Pressure Sensors can be split into Differential Pressure Sensors, Absolute Pressure Sensors, Gauge Pressure Sensors and Others. In 2019, Differential Pressure Sensors accounted for about 75% market share, which made it the largest segment of global HVAC Pressure Sensors. 

Asia-Pacific is the largest consumption region of HVAC Pressure Sensors, with a consumption market share of nearly 40 percent in 2019. The second place is North America following Asia-Pacific with the consumption market share over 26% in 2019. Global giant manufactures are mainly distributed in the USA and Europe. Siemens is in first place, accounting for above 16 percent of the global market. 

Digital Temperature Sensor Market to reach US$4300 million 

Increasing penetration of digitalization in sensing technology is estimated to drive the digital temperature sensor market. Digital Temperature Sensor Market size is estimated to reach $4.3 billion by 2026 at a CAGR of 9.9% during the forecast period 2021-2026. The growth is majorly attributed to the rising demand for integrated humidity and temperature sensors to provide high accuracy measurements with low power requirements in order to simplify asset monitoring solutions preventing premature equipment failure. The burgeoning demand for advanced electronics products for consumer electronics including smart phones, smart wears or smart home applications is significantly triggering the market. Presence of temperature sensors integrated with HVAC systems in autonomous cars or EVs are also contributing to the Digital Temperature Sensor market growth. 

By application, smart home applications are estimated to witness significant growth due to rising demand for consumer electronics and increasing penetration of smart home appliances to control residential HVAC systems. In February 2021, Leeds City Council announced plans to deploy IoT sensors including temperature-absorbing smart home solutions. Such initiatives are set to drive the market from 2021 to 2026. 

By end user, the industrial sector is estimated to account for the largest market share at 14.5 percent during 2021-2026. Among industrial sectors, Automotive is analysed to witness a significant growth between 2021 and 2026 due to the rising demand for powertrain, body electronics and alternative fuel vehicle. Utility sector is estimated to witness the highest growth with a CAGR of 12.9 percent during 2021-2026 due to increasing demand for real-time thermal monitoring of mission critical applications to optimize performance and efficiency. 

By geography, the market is segmented under North America, Europe, APAC, South America and RoW. APAC is estimated to be the fastest growing market with a CAGR of 11.5 percent owing to heavy industrialization and transition towards digitalisation.