According to IMARC Group latest report titled” HVAC Control Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on HVAC Control market size. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global HVAC control market reached a value of US$ 14.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 21.3 Billion by 2027 exhibiting a CAGR of 5.70% during 2022-2027.
A heating, ventilation and air conditioning (HVAC) control system refers to an automated device that is utilized to regulate operations related to heating and cooling conditions. It comprises of control valves, sensors, energy sources, controlled appliances, etc. Some commonly available HVAC control systems include ventilation, humidity, temperature, and integrated. They are used to monitor and control HVAC performance and offer a comfortable environment by maintaining optimal temperatures in enclosed spaces. As a result, HVAC control systems are widely adopted across numerous sectors, such as hospitality, retail, construction, etc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
The expanding number of commercial, industrial, and residential buildings across the globe is one of the key factors driving the HVAC control market. In addition to this, the escalating demand for remote access control systems for energy efficiency, streamlining operations, and cost-effectiveness is further stimulating the market growth. Moreover, continuous technological advancements, including the integration of smart devices with motion sensors and the Internet of Things (IoT), are acting as significant growth-inducing factors. Furthermore, the development of eco-friendly product variants, on account of the increasing environmental concerns among consumers, is also augmenting the global market. In line with this, the launch of various initiatives by government bodies to promote the construction of energy-efficient green buildings is anticipated to bolster the HVAC market over the forecasted period.
Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Azbil Corporation
- Carrier Global Corporation
- Computrols Inc.
- Daikin Industries Ltd
- Danfoss
- Delta Electronics Inc.
- Emerson Electric Co.
- Honeywell International Inc.
- Johnson Controls International
- KMC Controls
- Schneider Electric SE
- Siemens AG
HVAC Control Market Segmentation:
Our report has categorized the market based on region, component, implementation type, system and end user.
Breakup by Component:
- Sensors
- Controllers and Controlled Devices
Breakup by Implementation Type:
- New Construction
- Retrofit
Breakup by System:
- Temperature Control Systems
- Ventilation Control Systems
- Humidity Control Systems
- Integrated Control Systems
Breakup by End User:
- Residential
- Commercial
- Industrial
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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