Global HVAC Safety Devices Market 2017-2021

Overview of the global HVAC safety devices market

Market research analysts at Technavio predict that the global HVAC safety devices market will grow steadily during the forecast period and post a CAGR of around 6% by 2021. This market research analysis identifies the robust growth in the construction industry as one of the primary growth factors for this market. New constructions in the residential, commercial, and industrial sectors have increased the demand for HVAC systems, thereby improving building efficiencies and generating high revenue for the market. This will consequently increase the demand for safety devices to prevent mishaps since surges and the related hazards also increases.

Advances in technology have enabled the integration of Internet of Things (IoT) with heating, ventilation, and air conditioning (HVAC) equipment. IoT links components or systems with network connectivity to the Internet and enables them to send and receive data over a network. These systems provide real-time remote monitoring and actionable analytics and reduce operating costs by enabling management teams to improve building and equipment control. IoT sensors monitor the working conditions and other aspects of the various components of HVAC, including the associated safety devices. According to this market research and analysis, the integration of IoT with HVAC equipment will be one of the key trends that will gain traction in the HVAC safety devices market during the coming years.