Global Thermostats Market Overview:
Thermostat is a device which automatically regulates the temperature of system by switching a system or motor on or off accordingly when temperature reaches at certain point. Thermostat monitors the indoor temperature and automatically adjusts heating or cooling system to maintain the desired level. It works on the principle of thermal expansion which governs the switching off or on of the electric circuit. Various types of thermostat are Smart Thermostat, Mechanical Thermostat, Programmable, Non-Programmable and many more. The most common types of mechanical thermostat are bimetallic strips and gas filled bellows. Thermostat often consists of a bimetallic strip that bends as it expands and contracts with temperature along with an electrical power supply. These are mostly used in central heating system and fridges. Growing adoption of smart home devices and home automation systems will augment the industry growth.
- Growing adoption of smart home devices and home automation systems
- Increasing demand for energy efficient and smart home automation devices
- Advance Technological Developments
- Increasing awareness about smart homes
- Growing trend of smart thermostats
- High cost of product
- Lack of knowledge of utilities
- Adoption of new technological developments in urban areas
- Difficulties in use of utilities
Some of the key players profiled in the report are Honeywell International Inc. (United States), Johnson Controls (United States), Schneider Electric SE (France), Danfoss (Denmark), Venstar Inc. (United States), Ecobee (Canada), Lennox International Inc. (United States), Lux Products Corporation (United States), Emerson Electric Co. (United States), tado° GmbH (Germany), Centrica plc (United Kingdom) and Computime Group Limited (China). Additionally, following companies can also be profiled that are part of our coverage like Sensata Technologies, Inc. (United States), VULCANIC (France), Nest Labs, Inc. (Alphabet Inc.) (United States) and Carrier Corporation (United Technologies) (United States). Analyst at AMA Research see United States United States, French and European Manufacturers to retain maximum share of Global Thermostats market by 2025. Considering Market by Distribution Channel, the sub-segment i.e. Offline will boost the Thermostats market.
Latest Market Insights:
In October, 2018 Johnson Controls has announced acquisition of United States based Lux Products Corporation to strengthen its product and technology portfolio
Illinois Environmental Protection Agency has changed the goals set under the state's Thermostat Collection Act for the years 2015 to 2020 to modify the regulation for collection of mercury containing thermostat and a series of programmatic activities in the United States.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Thermostats market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Thermostats market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Thermostats Manufacturers, Electronic Component Manufactures, Raw Materials Suppliers, Government and Research Organizations, Industry Associations, End users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.