ROCKVILLE, Maryland, July 27, 2018 /PRNewswire/ --
Partnership programs for enhancing product qualities are becoming the new focus area among manufacturers of airflow sensors, to strengthen their R&D structure and ebbing operational costs. Strengthening the alliance being an imperative expansion strategy for airflow sensors market players, leading companies are engaging suppliers in the cooperative arrangements that include production cycle supply contracts, and volume sensitive costing.
Online procurement is being deemed as an emerging as a lucrative virtual sourcing trend in the airflow sensors market, albeit adoption of e-commerce in industrial and automotive applications witnessed below-average rise in the recent past. Fact.MR's recent study foresees the airflow sensors market to record a moderate 3.6% value CAGR over the period of forecast, 2018 to 2028.
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Building automation continues to remain a conspicuous vertical for sales of airflow sensors. Development of advanced airflow sensors that ensure productive and healthy indoor climate, while recording & transmitting accurate readings has rubbed off on sales of air flow sensors in building automation. Manufacturers are focusing on the development of novel airflow sensors to offer optimal basis for cost- & energy-efficient control on entire HVAC system installed in smart buildings. Value sales of airflow sensors in building automation will hold nearly one-fourth market share by 2026-end.
Industrialized regions are illustrating a rise in premature deaths against the backdrop of pollution emanating from emissions of toxic gases such as nitrogen oxides, and sulfur oxides. This has further driven the adoption of airflow sensors in healthcare settings, with retaining indoor air quality being a key concern. Aging population in countries such as Japan, and robust investment in healthcare infrastructure in regions such as Europe, and South East Asia-Pacific (SEAP) will further pose an indirect influence on growth of the airflow sensors market. Healthcare is set to prevail as the second largest end-use industry in the airflow sensors market, in terms of value.
"Commodity prices have witnessed a shift toward stability, consequently creating sustainable market opportunities across regions. This has further translated into positive impacts on the construction industry, which in turn will pose a direct influence on infrastructure development across the globe. Demand for building automations are likely to coattail the aforementioned incidences, thereby creating a huge demand for airflow sensors in return. Suppliers are targeting the role system integrators, as OEM preferences are likely to incline toward integrated solutions in the near future, according to a lead analyst at Fact.MR.
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Preeminence of analog airflow sensors continues to endure with three-fifth market share, whereas digital airflow sensors are representing a rising palpability with value sales increasing at a slightly greater CAGR than that of their analog counterparts through 2026. Signal processing demands of analog airflow sensors on an engine control module (ECM) are rid by digital airflow sensors, thereby making the latter a more beneficial and lucrative variant. Additionally, noise and interferences encountered in analog airflow sensors are eliminated in their digital counterparts, which in turn aids in improving the information integrity.
Lack of Resources and High Initial Investment Continue to Confine Airflow Sensors Sales
Lack of resources and consumer awareness have tugged back the transition from simple construction systems toward airflow sensors-controlled systems. Requirement for frequent maintenance, which includes replacement of components, has further impeded demand for airflow sensors. Additionally, high initial cost attributed to airflow sensors in case of certain applications such as industrial and healthcare has prevailed as key growth deterrent of the airflow sensors market.
Expensive modifications by the industries are imperative for adding airflow sensors in their existing combustion systems. This further makes airflow sensors to become a financial burden for small and medium-sized enterprises.
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