HVAC Controls Market Size, Share, Top Key Players, Growth, Trend and Forecast to 2030
“Emerging Research | Heating, Ventilation and Air Conditioning (HVAC) Controls Market »
Extreme weather conditions are a major driver of HVAC controls market revenue growth
The global heating, ventilation, and air conditioning (HVAC) controls market size was USD 16.74 billion in 2021 and is expected to register a CAGR of 9.5% during the forecast period, according to the latest analysis from Emergen Research. Industrial transformation and integration of Internet of Things (IoT) enabled devices into HVAC systems has greatly increased the application of HVAC system in industrial and commercial facilities, which is a major driver of market revenue growth. The main advantage of integrating IoT components, such as sensors and others into HVAC systems, is that operators can easily operate them remotely. Also, it helps in providing customer-centric services, thereby increasing profitability and customer retention. Another major benefit of integrating IoT-enabled devices into the HVAC system is minimal energy consumption. IoT-enabled devices also help provide real-time data when connected to a computer system, allowing industry professionals and engineers to perform critical maintenance during equipment downtime. IoT devices also provide benefits to professionals in the HVAC industry.
The Global HVAC Controls Market study is the latest report covering the impact analysis of the COVID-19 pandemic currently underway. The pandemic has directly affected the market by causing disruptions in global supply chains and indirectly by causing financial hardship. The HVAC Controls Market has been witnessing dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed overview of how the pandemic has affected key segments of the HVAC Controls industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall HVAC Controls industry.
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Some highlights of the report
- The sensor segment accounted for a major share of revenue in 2021. Rising demand for temperature and humidity sensors due to fluctuating weather conditions is a major driver of revenue growth for this segment. Additionally, growing consumer awareness about the specifications of the various types of sensors available is contributing to the revenue growth of the segment. Companies in the market, such as Epulse and others, are investing heavily in manufacturing cost-effective and highly accurate HVAC control components. For example, a smart thermostat is increasingly being used in HVAC systems to keep tenants comfortable. Moreover, they also support features like voice control, deep programmability, air quality control, etc.
- The temperature control systems segment accounted for a major share of revenue in 2021. Wide availability of cost-effective temperature control systems is a major driver of revenue growth for this segment. A temperature control system is the most widely used HVAC control system, mainly due to its ability to adjust room temperature according to user preferences. Moreover, companies in the market are investing significantly in research and development activities and in the manufacturing of temperature control system components that significantly help in reducing operating costs and providing constant comfort. This is achieved by sensing or sensing the temperature of an enclosed area and thereby heating and cooling accordingly. Rising construction activities, rise in global temperature, and increase in government support are among other factors contributing to the revenue growth of this segment.
- The commercial segment accounted for a significant portion of revenue in 2021. Significant investments in building renovations and integration of building automation systems are the main drivers of revenue growth for this segment. The operation of the HVAC represents on average almost half of the energy consumption of a commercial installation. Building owners can save a lot of money and energy by installing the right HVAC control system. More importantly, as it provides temperature control, fresh air circulation and filtration, HVAC control is responsible for the comfort and health of a building’s occupants. Various equipment features offered by companies in the market also played a key role in the revenue growth of this segment. For example, Computrols offers additional features, such as a lifetime warranty, open and proprietary system integrations, and more, with their commercially available HVAC control products.
Leading companies of the HVAC Controls industry and profiled in the report are:
Honeywell International Inc., Johnson Controls, Schneider Electric, Siemens, Emerson Electric Co., Delta Controls, Trane Technologies plc, Lennox International Inc., Daikin Industries, Ltd., Ecobee, Robert Bosch GmbH and Jackson Systems & Supply.
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Further, the report splits the HVAC Controls market into key segments and sub-segments to offer an analysis of product type and industry application spectrum. It also offers predictions on which segments are expected to show significant growth over the forecast period.
Emergen Research has segmented the global HVAC controls market based on components, systems, applications, and regions:
- Components Outlook (Revenue, USD Billion; 2019-2030)
- Controllers and controlled devices
- System Outlook (Revenue, USD Billion; 2019-2030)
- Temperature control system
- Ventilation control system
- Humidity control system
- Integrated control system
- Application Outlook (Revenue, USD Billion; 2019-2030)
The report throws light on the region expected to dominate the HVAC Controls Market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimation of the market share that each region is expected to hold during the forecast period. The report analyzes the HVAC Controls market spread in key geographies covering North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. The regional analysis gives an idea of the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of top players. plan in each region.
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The report covers key points of the market including standards, regulations and policy changes applied by the government on the industry for the coming years. The report encompasses in-depth research conducted through the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to identify trends and growth patterns. Factors likely to influence market growth, current trends, opportunities, restraining factors, and the business landscape are thoroughly discussed in the market study.
Key Points of the HVAC Controls Market:
- Extensive Coverage of HVAC Controls Market Analysis
- Key information on the regional breakdown of the industry in key geographies
- Sweeping insights into vital market trends; current and emerging trends, and factors influencing market growth
- Comprehensive coverage of the impact of the COVID-19 pandemic on the overall HVAC Controls Market Growth
- Comprehensive data on major manufacturers and vendors of HVAC Controls market
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About Emergen Research
Emergen Research is a market research and consulting firm that provides syndicated research reports, custom research reports, and consulting services. Our solutions are uniquely focused on your goal of locating, targeting and analyzing changes in consumer behavior across demographics, across industries, and helping customers make smarter business decisions. We offer market intelligence research ensuring relevant and factual research across multiple sectors including health, touchpoints, chemicals, types and energy. We are constantly updating our search offerings to ensure that our clients are aware of the latest trends existing in the market. Emergen Research has a strong base of experienced analysts from a variety of areas of expertise. Our industry experience and ability to develop a workable solution to any research problem gives our clients the ability to secure an edge over their respective competitors.
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