While rising energy prices spell bad news for most industry sectors, they are set to positively impact the heating, ventilation, and air-conditioning (HVAC) thermostats market in North America. This is because the recent volatility in energy prices emphasizes the significant role thermostats can play in controlling energy and costs, apart from merely regulating home or building comfort.
“Over the past few years, drastic increases in energy costs across the residential, commercial, and industrial sectors, combined with growing worries about indoor air quality (IAQ) are creating considerable opportunities for thermostat manufacturers,” remarks Frost & Sullivan Research Analyst David Lee. “With energy prices projected to remain on an upward trajectory, thermostats are likely to play a central role in controlling costs.”
New analysis from Frost & Sullivan, North American HVAC Thermostats Market, finds that this market earned revenues of $608.9 million in 2005 and is likely to reach $846.5 million in 2012.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the latest analysis of North American HVAC Thermostats Market, then send an e-mail to Trisha Bradley, Corporate Communications, at trisha.bradley[.]frost.com with your full name, company name, title, telephone number, fax number, and e-mail address. Upon receipt of the above information, an overview will be sent to you by e-mail.
For most homeowners and businesses facing sharp increases in energy prices, the top priority is to find ways to use energy more efficiently and curtail spiraling costs. This is likely to generate interest in electronic programmable thermostats as they can manage the operation of cooling and heating equipment effectively.
Although all thermostats are capable of regulating temperature in a cost-effective manner, the programmable ones have a distinct advantage as they allow users unmatched flexibility and customization in temperature control and equipment operation. Thus, the very nature of these thermostats enables them to accurately address the lifestyle and occupancy patterns of different individuals and achieve maximum cost savings without compromising on comfort.
Despite these advantages, many end users continue to have a negative perception of programmable thermostats as being too complicated and difficult to operate. This is especially the case with more sophisticated – and more lucrative – programmable thermostats.
Many end users today have neither the time nor the inclination to learn the operation of complex devices and inevitably opt for products that are simple and easy to use. Manufacturers have worked to address these perceived difficulties in thermostats by improving their user friendliness. For instance, simple menu-driven functionality has greatly enhanced the ease-of-use factor.
However, overcoming end-user resistance may require them to consider other strategies as well. Considering the prevailing energy situation, positioning programmable thermostats as an energy-saving solution could encourage end users to try out the powerful features of these devices.
In addition, the market is also seeing the emergence of new products such as networked/communicating and wireless thermostats that offer several compelling features. Although public acceptance of these technologies is not as high as expected, thermostat manufacturers continue to invest in developing technologically advanced products, as they believe such products hold the key to future growth.
North American HVAC Thermostats Market, part of the Environment & Building Technologies Subscription, provides in-depth insights into market dynamics and trends and delves deeply into critical topics such as emerging technologies and competitive landscape. It also provides key strategic recommendations for market participants. In this research service, Frost & Sullivan's expert analysts thoroughly examine the following markets: electronic and electromechanical thermostats. Interviews with the press are available.
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