Handheld Hvac Monitoring Devices

According to Premium Market Insights new research study on "Handheld HVAC Monitoring Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Device Type and Application," the market is expected to grow from US$ 1,050.10 million in 2021 to US$ 1,534.99 million by 2028; it is expected to grow at a CAGR of 5.6% from 2020 to 2028.

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Some Of the Major Players Influencing are 3M, Fluke Corporation, Honeywell International Inc., TSI Incorporated, Aeroqual Ltd, Met One Instruments Inc., Kanomax USA, Inc., Testo SE & Co. KGaA, PCE

The demand for handheld HVAC monitoring devices is being fuelled by a rise in construction activities and new product launches. However, the market growth is being impeded by the high cost of these devices. HVAC monitoring devices are crucial for regulating the operation of heating and air conditioning systems in buildings. These systems continuously monitor the energy consumption and performance of HVAC equipment, detecting defects and inefficiencies to alert operators. HVAC is a significant contributor to a property's maintenance and energy-related operational costs, making HVAC analytics crucial in detecting equipment issues promptly.

The global population has been increasing, leading to a rise in construction activities to meet the demand for housing. The United Nations (UN) estimates that the global population will reach approximately 9.7 billion by 2050, up from 7.7 billion in 2020. Furthermore, developing economies have seen an increase in urbanization and industrialization, leading to increased government-supported commercial projects and investments in the construction industry. For example, the Chinese government introduced an affordable housing system to support around 70% of urban families and middle-income households. As a result, the growth of construction, urbanization, and industrialization activities is expected to create a demand for effective HVAC systems, promoting the growth of the handheld HVAC monitoring devices market.

The rise in automation activities in the residential, commercial, and industrial sectors has resulted in significant energy consumption. Additionally, the increase in electricity-based HVAC systems has put pressure on electricity production plants and has had a negative impact on the environment worldwide. To mitigate these issues, there has been an increase in environmentally-friendly approaches, such as geothermal HVAC systems. Moreover, increasing awareness about environmental conservation has fueled the demand for energy-efficient buildings, thereby driving the handheld HVAC monitoring device market.

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The handheld HVAC monitoring devices market is categorized into various device types, including temperature and humidity meters, gas detectors, airflow meters, HVAC multimeters, and pressure gauge meters. The pressure gauge meter segment held the largest market share in 2021. However, the temperature and humidity meter segment is expected to have the highest CAGR during the forecast period.

In preparing the report on the handheld HVAC monitoring devices market, both primary and secondary sources were used. The key primary sources included Air Conditioning Contractors of America (ACCA), International Energy Agency (IEA), Environmental Protection Agency (EPA), Sheet Metal and Air Conditioning Contractors' National Association (SMACNA), and US Department of Energy's Building Technologies. In addition to this, exhaustive secondary research was conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The research process aimed to obtain an overview and forecast for the market with respect to all its segments.

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In addition, the report on the handheld HVAC monitoring devices market includes primary interviews with industry participants and commentators to validate data and gain more analytical insights into the market. The participants in this process comprise industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the handheld HVAC monitoring devices market. The report also provides an overview and forecast for the global handheld HVAC monitoring devices market based on all the segments provided with respect to five major regions-North America, Europe, Asia Pacific, Middle East & Africa, and South America, derived from exhaustive secondary research conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

Table Of Contents
1. Introduction
1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Handheld HVAC Monitoring Devices Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America PEST Analysis
4.2.2 Europe - PEST Analysis
4.2.3 Asia Pacific - PEST Analysis
4.2.4 Middle East & Africa - PEST Analysis
4.2.5 South America - PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Handheld HVAC Monitoring Devices Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in Construction Activities
5.1.2 Increasing Product Launches
5.2 Market Restraints
5.2.1 High-Cost of HVAC Monitoring Devices
5.3 Market Opportunities
5.3.1 Changing Climatic Conditions
5.4 Future Trends
5.4.1 Technological Advancements in Handheld HVAC Monitoring Devices
5.5 Impact Analysis of Drivers and Restraints
Continued…...!

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