22-Apr-2022 | Facts and Factors
According to Facts & Factors, The global HVAC controls market was worth around USD 15182.9 million in 2021 and is estimated to grow to about USD 27340.5 million by 2028, with a compound annual growth rate (CAGR) of approximately 10.3% over the forecast period. The report analyzes the HVAC Controls Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the HVAC Controls Market.
HVAC control is a method of controlling the operation of air conditioning and heating systems. It is essentially a control system with a sensing device that compares real states, such as temperature, to a goal state. Rapid industrialization has resulted in an increase in demand for heating and cooling equipment in various industries such as mining and power generation, as well as an increase in energy bills and strict regulations based on environmental norms, which have forced various commercial organizations and industries to install HVAC controls in their operating areas, are some of the major factors driving the market's growth during the forecast period.
Browse the full “HVAC Controls Market By System (Temperature Control Systems, Ventilation Control Systems, Humidity Control Systems, and Integrated Control Systems), By Components (Sensors, Controllers, and Controlled Devices), By Implementation Type (New Construction, and Retrofit), By Application (Residential, Commercial, and Industrial), and By Region - Global and Regional Industry Trends, Market Insights, Data analysis, Historical Information, and Forecast 2022–2028” report at https://www.fnfresearch.com/hvac-controls-market
In addition, the surge in demand for simple-to-use remote access control systems has resulted in a significant increase in HVAC system investments by commercial, industrial, and residential end-users. This increase in investment has resulted in the development of advanced HVAC control systems with numerous sensors, which will contribute to the market's growth in the future years. The development of residential, commercial, and industrial building infrastructure has significantly boosted the demand for HVAC controllers. Moreover, growing urbanization in developing economies such as India, China, Mexico, Brazil, and others is predicted to accelerate the expansion of the industrial sector, which, in turn, is expected to raise demand for HAVC control in the coming years.
Similarly, governments all across the world are assisting in the construction of industrial infrastructure. During the projected period, this is expected to drive the growth of the HVAC control market. However, limited HVAC control adoption is hampered by a lack of understanding among end-users, the complexity of upgrading existing HVAC systems, and changes in raw material prices.
The HVAC Controls Market is segregated based on System, Component, Implementation Type, and Application. Based on System, the global market is distinguished into Temperature Control Systems, Ventilation Control Systems, Humidity Control Systems, and Integrated Control Systems. Based on Components, the global market is distinguished into Sensors, Controllers, and Controlled Devices. Based on Implementation Type, the global market is distinguished into New Construction, and Retrofit. Based on Application, the global market is distinguished into Residential, Commercial, and Industrial.
During the projection period, the Asia Pacific market led the total industry. During the projected period, the regional market is expected to maintain its dominance. The expansion is being ascribed to rising demand from emerging economies such as China and India. Furthermore, increased disposable income, along with the availability of low-cost systems in these nations, is expected to increase regional rivalry. During the projection period, North America is expected to grow rapidly. Over the years, the regional HVAC equipment market has stabilized. The necessity to replace or upgrade existing aged systems with newer control systems, on the other hand, is expected to boost market expansion in the region.
Another important driver of predicted growth is an increase in the percentage of smart houses, notably in the United States. Furthermore, the region is defined by the existence of manufacturers, OEMs, and a sizable customer base. Companies based in the region, such as Honeywell International, Nest, and Johnson Controls, are significantly contributing to the market's growth.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 15182.9 Million |
Projected Market Size in 2028 |
USD 27340.5 Million |
CAGR Growth Rate |
10.3% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Honeywell International Inc (US), Johnson Controls (US), Schneider Electric (France), Siemens (Germany), Carrier Global Corporation (US), Emerson Electric (US), Trane Technologies Plc (Ireland), Lennox (US), Delta Controls (Canada), Distech Controls (Canada), KMC Controls (US), Daikin Industries (Japan), LG Electronics (South Korea), Jackson Systems (US), and OJ Electronics (Denmark), among others |
Key Segment |
By System, Component, Implementation Type, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Key players functioning in the HVAC Controls Market include Honeywell International Inc (US), Johnson Controls (US), Schneider Electric (France), Siemens (Germany), Carrier Global Corporation (US), Emerson Electric (US), Trane Technologies Plc (Ireland), Lennox (US), Delta Controls (Canada), Distech Controls (Canada), KMC Controls (US), Daikin Industries (Japan), LG Electronics (South Korea), Jackson Systems (US), and OJ Electronics (Denmark).
Recent developments:
- In 2020, Carrier introduced the WeatherExpert series of rooftop units, which include real variable-speed cooling capacity and control. These models include the variable-speed 48JC gas/electric and 50JC electric/electric versions, which can alter cooling capacity by up to 105 percent of typical capacity.
- In 2020, Honeywell and SAP Se have collaborated to improve building performance through the use of integrated cloud-based business and operational technology data, which will provide corporate and real estate owners, as well as building operators, with aggregated financial and operational intelligence for their portfolios.
The global HVAC controls market is segmented as follows:
By System
- Temperature Control Systems
- Ventilation Control Systems
- Humidity Control Systems
- Integrated Control Systems
By Component
- Sensors
- Controllers and Controlled Devices
By Implementation Type
- New Construction
- Retrofit
By Application
- Residential
- Commercial
- Industrial
- Transportation
By Region
- North America
- The U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Reunion
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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