Amid Ukraine-Russia crisis, our analysts and industry experts are closely monitoring the markets and working hard to identify, gather and timely deliver analysis of the impact of the situation and the impact that it has on various markets. All our reports are updated with the latest impact on the market before being sent out to our customers.

Global Thermostat Market Size, Trends, Analysis, Research: By Product Type: Smart Thermostat, Mechanical Thermostat, Programmable Thermostat, Others; By Mode of Operation: Line Voltage, Low Voltage, Millivolt; By Application: Residential, Others; Regional Analysis; Competitive Landscape: Industry Events and Developments; 2022-2027

Global Thermostat Market Outlook

The global thermostat market size is expected to grow in the forecast period of 2022-2027 at a CAGR of 8.70%.

 

Increasing Applications of Smart Thermostats in Households to Augment the Global Thermostat Industry

A smart thermostat enables users to create automatic and programmable temperature settings which saves their time to during their day-to-day routine work and weather conditions. Smart thermostats can automatically adjust the heating and cooling according to the household patterns which is leading to a heightened adoption of smart thermostat devices from residential sector. 

 

In addition to this, the increasing inclination towards greater cost savings on heating and cooling in the household is crucial driving factor of the smart thermostat segment, and the overall thermostat market. Over the forecast period, the growing awareness about the advantages offered by smart thermostats, such as energy usage tracking, remote control, and easy installation, among others, is likely to bolster the sales of the product in the forecast period.

 

The Asia Pacific Region Accounts for a Sizable Segment in the Market for Thermostats    

The market in the Asia Pacific region is being driven by the increasing demand for thermostats from hospitals and ambulatory surgical centres. This is owing to the high healthcare expenditure and favourable policies of governments aimed towards augmenting the security of patients. 

 

Across the forecast period, the increasing affordability of electronic appliances in the emerging economies such as India and China in the household sector is anticipated to propel the thermostat market growth. The strong foothold of major market players and electronic appliance manufacturers is likely to bolster the supply chain of the product, thereby, accelerating the sales of thermostats. 

 

Market Segmentation

A thermostat is defined as an electrical equipment which is used to increase or decrease the temperature of an area by adjusting the supply of electricity or gas to the heating apparatus. Car engines and electrical blankets are some of the common examples of devices which use thermostats.

 

Based on product type, the market can be segmented into:

  • Smart Thermostat
  • Mechanical Thermostat
  • Programmable Thermostat
  • Others

 

By mode of operation, the thermostat market has been divided into:

  • Line Voltage
  • Low Voltage
  • Millivolt

 

On the basis of application, the market has been categorised into:

  • Residential
  • Commercial
  • Industrial

 

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Rising Demand for HVACs from the Household Sector to Boost the Thermostat Industry Growth

The increasing demand for HVACs, central heating, and water heating from households, owing to the increasing disposable income, smart urbanisation, and increasing inclination towards automated heating and cooling solutions, is driving the market growth. In addition, the increasing accessibility to Internet of Things through Wi-Fi and Bluetooth is further propelling the demand for thermostats. 

 

During the forecast period, the anticipated increase in demand for thermostats to achieve cost cutting on electricity bills is likely to be a major driving factor of the global thermostat market. Moreover, the market is anticipated to be driven by the anticipated increase in application of thermostats in the commercial sector owing to the increasing standards of hotels and restaurants. 

 

There are growing research and development activities by major market players to redefine the capabilities of thermostats to bolster the comfort of occupants, as well as increase the home health. These are leading to enhancements in the product innovations. 

 

Key Players in the Global Market for Thermostats

The report gives a detailed analysis of the following key players in the global thermostat market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

 

  • Carrier Corporation
  • Johnson Controls
  • Honeywell International Inc.
  • Schneider Electric
  • Siemens AG
  • Others

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2021
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product Type
  • Mode of Operation
  • Application
  • Region
Breakup by Product Type
  • Smart Thermostat
  • Mechanical Thermostat
  • Programmable Thermostat
  • Others
Breakup by Mode of Operation
  • Line Voltage
  • Low Voltage
  • Millivolt
Breakup by Application
  • Residential
  • Commercial
  • Industrial
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Trade Data Analysis
  • Major Exporting Countries
    • By Value
    • By Volume
  • Major Importing Countries
    • By Value
    • By Volume
Price Analysis
  • Historical Price Trends
  • Forecast Price Trends
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Carrier Corporation
  • Johnson Controls
  • Honeywell International Inc.
  • Schneider Electric
  • Siemens AG
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface 
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions   
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments  
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Region
7    Industry Opportunities and Challenges  
8    Global Thermostat Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Thermostat Historical Market (2017-2021) 
    8.3    Global Thermostat Market Forecast (2022-2027)
    8.4    Global Thermostat Market by Product Type
        8.4.1    Smart Thermostat
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Mechanical Thermostat
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
        8.4.3    Programmable Thermostat
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2017-2021)
            8.4.3.3    Forecast Trend (2022-2027)
        8.4.4    Others
    8.5    Global Thermostat Market by Mode of Operation
        8.5.1    Line Voltage
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Low Voltage
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Millivolt
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
    8.6    Global Thermostat Market by Application
        8.6.1    Residential
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Commercial
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
        8.6.3    Industrial
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2017-2021)
            8.6.3.3    Forecast Trend (2022-2027)
    8.7    Global Thermostat Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Trade Data Analysis (HS Code – 903210)
    12.1    Major importing countries 
        12.1.1    By Value
        12.1.2    By Volume
    12.2    Major Exporting Countries 
        12.2.1    By Value
        12.2.2    By Volume
13    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Company Profiles
        14.2.1    Carrier Corporation
            14.2.1.1    Company Overview
            14.2.1.2    Product Portfolio
            14.2.1.3    Demographic Reach and Achievements
            14.2.1.4    Certifications
        14.2.2    Johnson Controls
            14.2.2.1    Company Overview
            14.2.2.2    Product Portfolio
            14.2.2.3    Demographic Reach and Achievements
            14.2.2.4    Certifications
        14.2.3    Honeywell International Inc.
            14.2.3.1    Company Overview
            14.2.3.2    Product Portfolio
            14.2.3.3    Demographic Reach and Achievements
            14.2.3.4    Certifications
        14.2.4    Schneider Electric
            14.2.4.1    Company Overview
            14.2.4.2    Product Portfolio
            14.2.4.3    Demographic Reach and Achievements
            14.2.4.4    Certifications
        14.2.5    Siemens AG
            14.2.5.1    Company Overview
            14.2.5.2    Product Portfolio
            14.2.5.3    Demographic Reach and Achievements
            14.2.5.4    Certifications
        14.2.6    Others
15    Industry Events and Developments


List of Key Figures and Tables

1.    Global Thermostat Market: Key Industry Highlights, 2017 and 2027
2.    Global Thermostat Historical Market: Breakup by Product Type (USD Million), 2017-2021
3.    Global Thermostat Market Forecast: Breakup by Product Type (USD Million), 2022-2027
4.    Global Thermostat Historical Market: Breakup by Sensor Type (USD Million), 2017-2021
5.    Global Thermostat Market Forecast: Breakup by Sensor Type (USD Million), 2022-2027
6.    Global Thermostat Historical Market: Breakup by Application (USD Million), 2017-2021
7.    Global Thermostat Market Forecast: Breakup by Application (USD Million), 2022-2027
8.    Global Thermostat Historical Market: Breakup by Mode of Operation (USD Million), 2017-2021
9.    Global Thermostat Market Forecast: Breakup by Mode of Operation (USD Million), 2022-2027
10.    Global Thermostat Historical Market: Breakup by Industry Vertical (USD Million), 2017-2021
11.    Global Thermostat Market Forecast: Breakup by Industry Vertical (USD Million), 2022-2027
12.    Global Thermostat Historical Market: Breakup by Region (USD Million), 2017-2021
13.    Global Thermostat Market Forecast: Breakup by Region (USD Million), 2022-2027
14.    North America Thermostat Historical Market: Breakup by Country (USD Million), 2017-2021
15.    North America Thermostat Market Forecast: Breakup by Country (USD Million), 2022-2027
16.    Europe Thermostat Historical Market: Breakup by Country (USD Million), 2017-2021
17.    Europe Thermostat Market Forecast: Breakup by Country (USD Million), 2022-2027
18.    Asia Pacific Thermostat Historical Market: Breakup by Country (USD Million), 2017-2021
19.    Asia Pacific Thermostat Market Forecast: Breakup by Country (USD Million), 2022-2027
20.    Latin America Thermostat Historical Market: Breakup by Country (USD Million), 2017-2021
21.    Latin America Thermostat Market Forecast: Breakup by Country (USD Million), 2022-2027
22.    Middle East and Africa Thermostat Historical Market: Breakup by Country (USD Million), 2017-2021
23.    Middle East and Africa Thermostat Market Forecast: Breakup by Country (USD Million), 2022-2027
24.    Major Importing Countries by Value
25.    Major Exporting Countries by Value
26.    Major Importing Countries by Volume
27.    Major Exporting Countries by Volume
28.    Global Thermostat Market Structure.

Key Questions Answered in the Report

The market is estimated to grow at a CAGR of 8.70% between 2022 and 2027.

The growing research and development activities by major market players to redefine the capabilities of thermostats to bolster the comfort of occupants are likely to be the key trends in the market. 

The major market drivers include the increasing applications of thermostats in households, rising demand for the product from healthcare units, and rapid urbanisation.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Smart thermostat, mechanical thermostat, and programmable thermostat, among others are the different segments based on product type.

Line voltage, low voltage, and millivolt is the segmentation of market based on mode of operation.

Residential, commercial, and industrial are the different application considered in the market report. 

The major players in the industry are Carrier Corporation, Johnson Controls, Honeywell International Inc., Schneider Electric, and Siemens AG, among others. 

Purchase Full Report

Mini Report

$ 2199     $1799
  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

$ 3199     $2999
  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

$ 4199     $3999
  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

$ 5199     $4999
  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Any Question? Speak With An Analyst

Contact Analyst

View A Sample

Request Sample

Did You Miss Anything, Ask Now

Request Customisation
Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

NEWSLETTER