The global Heating, Ventilation, and Air Conditioning (HVAC) controls market size was USD 16.74 Billion in 2021 and is expected to register a revenue CAGR of 9.5% during the forecast period, according to latest analysis by Emergen Research. Industrial transformation and incorporation of Internet of Things (IoT)-enabled devices in HVAC systems have significantly increased application of HVAC system in industrial and commercial facilities, which is a major factor driving market revenue growth. Primary benefit of incorporating IoT components, such as sensors and others into HVAC systems is that, operators can easily operate them from remote locations. In addition, it aids in providing customer-centric services, which thereby increases profitability and customer retention. Another major advantage of incorporating IoT-enabled devices in HVAC system is minimum energy consumption. IoT-enabled devices also aid in providing real-time data when connected to a computer system, which enables industrial professionals and engineers to perform critical maintenance during equipment downtime. IoT devices also provide benefits for HVAC industry professionals. For instance, HVAC systems are incorporated with motion sensors and this aid in detection of devices in complex industrial facilities. Moreover, when no movement is detected by sensor, computers or devices connected can suggest manually turning down or up the system for better cooling, heating, and reduce energy consumption. Furthermore, controls also employ latest networking and Artificial Intelligence (AI) technologies and this aid in detecting and adjusting controls as per preferences of users. Equipping an HVAC system with high-performance controls significantly minimizes energy consumption and addresses all other issues associated with conventional HVAC system. For instance, market companies are providing Machine-To-Machine (M2M) connectivity, which aids in reducing costs of operation in industrial facilities. It also aids in resource conservation, predictive maintenance, comfort control, and healthy building performance. As a result, demand for IoT-based HVAC control systems is increasing during the forecast period.
The report discusses in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats, and demands of the HVAC Controls market. The study further assesses the regional market as well as the international market to garner an insight into the scope of the market. The report also offers estimations and predictions about the market segment and sub-segments exhibiting promising growth in the forecast timeline.
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
The leading market contenders listed 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
Research Report on the HVAC Controls Market Addresses the Following Key Questions:
- Who are the dominant players of the HVAC Controls market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the HVAC Controls market?
- What are the key growth drivers and restraining factors of the HVAC Controls market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the HVAC Controls market and its key segments?
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Emergen Research has segmented the global HVAC Controls market on the basis of type, type of care, and region
Segments Covered in this report are:
-
Component Outlook (Revenue, USD Billion; 2019-2030)
- Sensors
- 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)
- Residential
- Commercial
- Industrial
In conclusion, the HVAC Controls Market report is an exhaustive database that will help readers formulate lucrative strategies. The HVAC Controls Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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