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HVAC Controls Market Analysis, Competitive Landscape, And Segment Forecasts 2026

The HVAC controls market was valued at USD 11.71 Billion in 2017 and is expected to reach USD 27.04 Billion by 2023, at a CAGR of 12.1% during the forecast period

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HVAC Controls Market Analysis, Competitive Landscape, And Segment Forecasts 2026

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  1. HVAC Controls Market Analysis, Competitive Landscape, And Segment Forecasts 2026 “The HVAC controls market was valued at USD 11.71 Billion in 2017 and is expected to reach USD 27.04 Billion by 2023, at a CAGR of 12.1% during the forecast period.” HVAC controls are used to automate and control air conditioning of various types of buildings with the help of controls, sensors, and controlling devices such as thermostats, control valves, and controllers. It eliminates the need for human interference for maintaining the temperature in a building, thereby increasing the safety, especially in hazardous and complex setups in industrial buildings. In the long run, HVAC controls help reduce both energy consumption and cost. The HVAC controls market was valued at USD 11.71 Billion in 2017 and is expected to reach USD 27.04 Billion by 2023, at a CAGR of 12.1% during the forecast period. The base year considered for the study is 2017, and the forecast period is between 2018 and 2023. Major factors driving the growth of the HVAC controls market include the need for efficient use of energy in buildings, growing construction market, increasing adoption of IoT in the HVAC industry, and rising demand for building automation systems (BASs). The objective of the report is to provide a detailed analysis of the HVAC controls market segmented on the basis of system, component, implementation type, application, and geography. It also provides detailed information on the major factors influencing the growth of the HVAC controls market. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=130456761 The research methodology used to estimate and forecast the HVAC controls market begins with obtaining the data on the revenues of key vendors through secondary research via sources such as The American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) and Air Conditioning Contractors of America Association (ACCA). The vendors’ offerings have also been considered to determine market segments.

  2. The bottom-up procedure has been employed to arrive at the overall size of the HVAC controls market from the revenues of key players. After arriving at the overall market size, the market has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with the key experts such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments. The breakdown of the profiles of primaries has been depicted in the following figure. Temperature control system to hold the largest size of the HVAC controls market throughout the forecast period The temperature control system consists of sensors, controllers, and HVAC equipment. The prime example of a temperature control system is a thermostat. Thermostat constantly measures the temperature of the area and, thus, controls the operation of heater or cooler to maintain the user-defined temperature. The major concern is maintaining energy efficiency, and the efficiency can be achieved by turning off the HVAC equipment periodically to save energy. Commercial application held a major share of the HVAC controls market in 2017 Commercial application held a major share of the HVAC controls market in 2017. The rise in the adoption of smart buildings and green buildings increases the use of smart sensors and HVAC controls such as programmable thermostat, which would save a lot of energy in commercial buildings. The application of HVAC controls in commercial buildings ensures switching on or off the HVAC equipment in a particular area, which is not currently occupied. The Federal Energy Policy Act of 2005 set in the US provides tax credit to owners of new or existing commercial buildings on the implementation of heating, cooling, ventilation, or hot water systems, which help in reducing the overall energy consumption of the buildings. Request Sample Copy of this Market Research @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=130456761 New construction to hold the largest size of the HVAC controls market during the forecast period Growing urbanization, economic growth, and rising disposable income in Asia, the Middle East, and Africa are fueling the growth of the HVAC controls market for new construction. Governments of various countries are investing in the infrastructure development, which complies with environmental standards. Along with the need for infrastructural development, governments have also realized the need to curb the adverse effects of construction activities on the environment. HVAC controls market in APAC to grow at the highest CAGR between 2018 and 2023

  3. China, Japan, and India are the major consumers of HVAC controls. Governments of these countries have taken active measures for increasing the adoption of HVAC controls. For example, the Ministry of Housing and Urban Affairs, Government of India, has adopted a smart city mission, which focuses on developing the cities to make them energy-efficient and sustainable along with improving the quality of living in these cities. Owing to the increasing population and depleting resources, the development of smart cities plays a major role for future sustainability in terms of energy. Furthermore, Japan is following strict regulation in terms of improving energy conservation. From 2012, it has launched some policies related to buildings that comprise the promotion of the use of higher efficiency products in construction of houses and buildings. It also follows energy efficiency standards for all type of buildings, including new and retrofits. Major players operating in the HVAC controls market are Honeywell (US), Johnson Controls (US), Siemens (Germany), Schneider Electric (France), Emerson (US), Delta Controls (Canada), Ingersoll-Rand (Ireland), United Technologies (US), Lennox (US), and Distech Controls (Canada). About MarketsandMarkets MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 stomers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Contact: Mr. Shelly Singh MarketsandMarkets INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 Email:sales@marketsandmarkets.com

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