HVAC Control Market
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. 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 (Heating, Ventilation, and Air Conditioning) control includes devices that control the functions of Heating, Ventilation, and Air Conditioning equipment. It ranges depending on whether it is applied to a basic residential application or potentially to a large-scale application. It features manual or automatic operation and can be customized to the specific demands of each building. HVAC control is used to turn a furnace or air conditioner on or off or to adjust the temperature and other settings on these units. Depending on the application, it can modify different building systems. Besides allowing owners to quickly control the equipment within a building, an HVAC control is also used to maximize performance and energy efficiency.
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Market Trends:
The global market is majorly driven by the increasing demand for heating and cooling equipment in multiple industries, such as mining and power generation. In line with this, the strict regulations considering environmental norms and the rising energy bills have forced several commercial organizations and industries to install HVAC controls in their functional areas. Furthermore, the escalating demand for remote access control systems, which are easy to operate, is likely to positively influence the heavy investments by commercial, industrial, and residential end-users in HVAC control. Apart from this, the development of advanced HVAC control systems with sensors is expected to catalyze the market. Moreover, the growing infrastructure development of residential, commercial, and industrial buildings is propelling the demand for HVAC control. Besides, the widespread uptake of smart thermostats in producing HVAC systems and strategic initiatives and policies implemented by governments across various countries to facilitate energy-efficient buildings are favoring the market growth. Additionally, the key players are heavily investing in research and development activities and developing innovative products that meet end-users’ requirements. This, in turn, is anticipated to provide a boost to the market.
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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
• 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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This release was published on openPR.
