Thermostat Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Thermostat Market is segmented By Product (Smart Thermostat, Mechanical Thermostat, , Programmable Thermostat, Others (Intrinsic Thermostat)), By Depl....
Thermostat Market Size
Market Size in USD
CAGR12.9%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 12.9% |
| Market Concentration | High |
| Major Players | Honeywell International, Inc., Google Nest, Ecobee, Emerson Electric Co., Johnson Controls |
*Disclaimer: Major players are listed in no particular order.
*Source: Coherent Market Insights
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Thermostat Market Analysis
The thermostat market is estimated to be valued at USD 6.47 Bn in 2024 and is expected to reach USD 15.13 Bn by 2031. It is expected to grow at a compound annual growth rate (CAGR) of 12.9% from 2024 to 2031. The thermostat market has been driven by increasing demand for smart and energy efficient thermostats across both residential as well as commercial sectors.