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Thermostat Market Share

Report ID: GMI3116
Published Date: Jul 2023
Report Format: PDF

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Thermostat Market Share

Some of the key market players operating across the thermostat business landscape are:

Global Company Market Share Analysis, 2023 (%)

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Trane
Legrand
Schneider Electric
Nortek Global HVAC
Radio Thermostat Company of America,
COMPUTIME LIMITED
Johnson Controls
Danfoss
Carrier Corporation
Emerson Electric Co
Sensata Technologies, Inc
Trafag
Venstar Inc
tado GmbH
Lennox International Inc
Ecobee.

Major manufacturers across Asia Pacific, the U.S., and the Middle East & Africa are inclined toward mergers & acquisitions, strategic collaborations, partnerships, and joint ventures to further gain a competitive advantage in the market.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of thermostat reached USD 5.6 billion in 2023 and is estimated to witness 13.1% CAGR during 2024 to 2032, driven by the increasing preference for smart and connected thermostats.

Smart thermostat industry generated USD 2.8 billion in 2022 and is poised to gain momentum from 2023-2032 attributed to the rising advancements in technology, increased awareness of energy efficiency, and the growing adoption of smart home automation.

Asia Pacific thermostat industry is poised to register 13% growth rate between 2023 and 2032 driven by the surging demand for thermostats and the burgeoning and volatile energy prices in the region.

Trane, Legrand, Schneider Electric, Nortek Global HVAC, Radio Thermostat Company of America, COMPUTIME LIMITED, Johnson Controls, Danfoss, Emerson Electric Co., Sensata Technologies, Inc., Trafag, Venstar Inc., and Ecobee are among the leading firms operating in the industry.