Kenneth Research, in its repository of market research reports, have recently added a report on Hydronic Control Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Hydronic Control Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Hydronic Control Market products.
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According to the statistics by the International Environmental Agency (IEA), the global stock of electric passenger cars passed 5 million in the year 2018, which was an increase by 63% from the year 2017.
Global Hydronic Control Market to reach USD 43.1 billion by 2025.Global Hydronic Control Market valued approximately USD 31.3 billion in 2016 is anticipated to grow with a healthy growth rate of more than 3.63% over the forecast period 2018-2025. Increasing demand for energy saving in residential and commercial buildings, technological advancement in the construction sector, and rising popularity of automation in residential and commercial sectors are the major factors driving the growth of the Global Hydronic Control Market.
Furthermore, various governments regulations and policies to reduce energy consumption have fueled the market growth as, to adopt the policies, the use of energy efficient hydronic control is necessary. The hydronic system facilitates the proper heating and cooling of water utilizing the minimum energy by sensing the surrounding environment and act accordingly. In the market, various options for hydronic control are available such as hydraulic, pneumatic, and electric actuators.
The hydraulic actuators consisting of a cylinder and a fluid motor converts the hydraulic energy into mechanical motion. Electric actuators are widely used in control systems. As compared to the retrofitting, the new installation of hydronic controls is eco-friendly. The use of hydronic controls can reduce energy consumption, and also increase the productivity and efficiency of the company where a substantial amount of energy is used for processing and manufacturing machinery. Hydronic controls are mostly used in warehouses, production areas, administration offices, control rooms, and distribution centers etc.
The regional analysis of Global Hydronic Control Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Equipment:
*Valves
*Actuators
*Control Panels
*Flow Controller
*Others
By Installation:
*New Installation
*Retrofit Installation
By Sector:
*Residential
*Commercial
*Industrial
By Regions:
*North America
o U.S.
o Canada
*Europe
o UK
o Germany
*Asia Pacific
o China
o India
o Japan
*Latin America
o Brazil
o Mexico
*Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Honeywell, Danfoss, Siemens, Johnson Control, Schneider Electric, IMI PLC, Belimo, Giacomini, Caleffi, Flamco, Reflex Winkelmann, Armstrong Fluid Technology, Oventrop, Spirotech, Xylem and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
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Target Audience of the Global Hydronic Control Market in Market Study:
*Key Consulting Companies & Advisors
*Large, medium-sized, and small enterprises
*Venture capitalists
*Value-Added Resellers (VARs)
*Third-party knowledge providers
*Investment bankers
*Investors
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