HVAC Controls - Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global HVAC Controls Market is accounted for $14.8 billion in 2020 and is expected to reach $37.97 billion by 2028 growing at a CAGR of 12.5% during the forecast period. Emergence of IoT-enabled HVAC systems and increasing awareness of energy conservation and efficiency is driving the market growth. However, low adoption of HVAC controls is hampering the growth of the market.
HVAC is known as heating, ventilation, and air conditioning computing device that controls the environment of enterprises and data center and provide air condition services to the end-users. HVAC systems help to control the temperature, quality of air, and humidity in indoor and also vehicle environment. The HVAC enables to change the ambient temperature and humidity to optimize the performance of the emplacement. The HVAC controls are installed in a larger structures namely data center, power system and security & safety equipment. HVAC has a wide range of applications such as offices and industries to efficiently manage the cost of cooling and heating in the venue.
Based on the component, the sensors segment is going to have lucrative growth during the forecast period as sensors are responsible for sensing various elements in the atmosphere and sending information accurately to controllers, which can then be processed for taking appropriate actions. These sensors also detect if the actions taken by controllers and controlled equipment have given the desired results. The development of wireless technology and its application in IoT and smart homes are the factors fueling the market for sensors in HVAC controls.
By geography, Asia Pacific is going to have high growth during the forecast period as technological advancements and inclination towards the use of energy-efficient products fuel the growth of the HVAC controls market in Asia Pacific. The growing population in developing countries in this region, along with environmental awareness, is supporting the adoption of HVAC controls. The rise in the adoption of green buildings and government initiatives to regulate energy-efficient practices across the commercial sector is also aiding the adoption of HVAC controls in this region.
Some of the key players profiled in the HVAC Controls Market include Schneider Electric, Siemens AG, Honeywell International Inc, Emerson Electric, Trane Technologies Plc, LG Electronics, Jackson Systems, Delta Controls, CoolAutomation, Innotech, Computrols, Danfoss, Daikin Industries, Ltd., Apollo America and Lennox International Inc.
• Cleaning & Air Movement
• Humidfying & Dehumidfying
Control Systems Covered:
• Temperature Control Systems
• Humidity Control Systems
• Integrated Control Systems
• Ventilation Control Systems
• New Construction
• Controllers & Controlled Devices
Control Loops Covered:
• Open-Loop Control
• Closed-Loop Control
• Electric/Electronic Systems
• Pneumatic Systems
• Direct Acting Systems
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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