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3. Hydronic Control Companies - Siemens (Germany) and Danfoss (Denmark) are the Key Players

The growth of the hydronic control market is driven by the need for efficient use of energy in buildings, the emergence of the construction market, and the trend of automation in commercial, industrial, and residential sectors in developing countries.

The hydronic control market is estimated to grow from USD 32.40 billion in 2018 to USD 37.70 billion by 2023, at a CAGR of 3.1% during the forecast period. The market in RoW is expected to grow at the highest CAGR during the forecast period. The rise in the adoption of green buildings and government initiatives to regulate energy-efficient practices across the commercial sector also aid in the adoption of hydronic controls in this region. North America is one of the top contributors in this market, and the market in this region is expected to grow due to the presence of major players in the region.

Hydronic Control companies include:

• Siemens (Germany),
• Danfoss (Denmark),
• Johnson Controls (Ireland),
• Honeywell (US),
• Schneider Electric (France),
• IMI plc (UK),
• Belimo (Switzerland),
• Giacomini (Italy),
• Caleffi (Italy),
• Flamco (Netherlands),
• Armstrong (US),
• Oventrop (Germany),
• Reflex (Germany),
• Spirotech (Netherlands),
• Xylem (US)

These companies have operations worldwide and provide a wide range of products and services. They rely on their R&D capabilities and product innovations to gain a larger market share.

To know about the assumptions considered for the study download the pdf brochure

Danfoss is a diversified technology and manufacturing company, serving customers worldwide and meeting the growing need for infrastructure, food supply, energy efficiency, and environment-friendly solutions. Danfoss mainly operates in 4 segments-Danfoss Power Solutions, Danfoss Cooling, Danfoss Drives, and Danfoss Heating. The company offers its products in the hydronic control market under the Danfoss Heating segment. Danfoss Heating enjoys leading positions within residential heating, commercial heating, and district energy. Danfoss strategizes to become one of the key players in the market by adopting acquisitions as its key growth strategy. The acquisition strategy provides the company with a technological edge and helps in expanding its global footprints. This has helped the company grow its business and expand the customer base. For instance, in June 2018, Danfoss extended its partnership with Leanheat. In 2016, Danfoss initially acquired a 23% stake of Leanheat (developer and provider of turnkey IoT solutions that upgrade building HVAC and hydronic systems), and in 2018, Danfoss acquired total ownership of 46%.

Siemens is a multinational conglomerate that focuses on electrification, automation, and digitalization areas. The company offers hydronic control products through the Building Technologies segment. It provides automation technologies and services for safe, secure, and efficient buildings and infrastructure systems. In the hydronic control market, Siemens focuses on innovation-driven growth by innovating solutions to meet its customers’ needs. The company focuses on expanding its service network and investing more in R&D; a significant portion of its revenue is allotted for R&D activities. In 2017, the company invested 6.22% of its overall revenue in R&D. It aims to strengthen its product portfolio and customer base through product launches. For instance, in November 2017, the company launched a new smart thermostat for residential heating control. The RDS110 smart thermostat takes just a few minutes to install and can be controlled via a mobile phone app. In November 2017, it also launched Climatix C600 for HVAC controls.

Related Reports:

Hydronic Control Market by Equipment (Actuators, Valves, Flow Controllers, Control Panels, and Others), Installation Type (New, Retrofit), Sector (Residential, Commercial, Industrial), and Region - Global Forecast to 2023

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