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 research report. 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.
HVAC control comprises various devices and tools that are used to manage the operations of heating, ventilation, and air conditioning (HVAC) systems. It includes sensors, control valves, controlled devices, energy sources, and other control systems. It works by monitoring the temperature of the area through the sensing devices and comparing it with the target temperature to initiate a suitable action via the control systems. As a result, HVAC control units are widely installed in commercial and residential buildings to control the HVAC performance, provide a comfortable environment, and maintain an optimal temperature in enclosed spaces.
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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.
The increasing construction of residential, commercial, and industrial buildings across the globe represents the primary factor driving the market growth. Besides this, the escalating demand for enhanced indoor air quality and the growing need for energy-efficient building automation systems are other major growth-inducing factors. Additionally, governments of various countries are promoting the use of energy-saving equipment in residential and commercial sectors to create a green, clean, and sustainable environment. Along with this, the widespread adoption of HVAC systems due to the rising temperatures and unpredictable weather conditions has escalated the demand for HVAC control units. Furthermore, the leading players are making heavy investments to launch innovative and smart controls, such as the Internet of Things (IoT)-enabled HVAC control systems to support home automation and connectivity. Other factors, including the development of green technology, growing awareness regarding energy management, rising environmental consciousness, rapid industrialization, and technological advancements, are also creating a favorable market outlook.
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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
- 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:
- Controllers and Controlled Devices
Breakup by Implementation Type:
- New Construction
Breakup by System:
- Temperature Control Systems
- Ventilation Control Systems
- Humidity Control Systems
- Integrated Control Systems
Breakup by End User:
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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