Global Advanced HVAC Controls Market 2017-2021
About Advanced HVAC Controls
HVAC control systems are devices that are used to reduce energy consumption and boost the performance of HVAC units. According to the purpose for which they are used, these controllers are classified into sensors, field devices, and floor-level controllers and building-level controllers. These devices form essential components in all HVAC equipment and are used in both residential and non-residential installations. Advanced HVAC controls can reduce operational and maintenance costs and energy consumption efficiently.
Technavio’s analysts forecast the global advanced HVAC controls market to grow at a CAGR of 6.04% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global advanced hvac controls market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Advanced HVAC Controls Market 2017-2021
Technavio recognizes the following companies as the key players in the global advanced HVAC controls market: Honeywell International, Johnson Controls, Mitsubishi Electric, Schneider Electric, and Siemens.
Other Prominent Vendors in the market are: Azbil, Delta Controls, Distech Controls, Mass Electronics, KMC Controls, NanoSense, Reliable Controls, Fr. Sauter AG, Trane, and Triatek.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing use of building automated systems (BAS). Technology is advancing each day, and everyone is keen on following the latest trend. Whether it is home or office, people prefer home or office to be advanced, thus spurring the demand for building automated systems (BAS) to higher levels.”
According to the report, one driver in the market is increasing demand for HVAC equipment. According to Technavio, the global HVAC market is expected to grow at a CAGR of 5.24% during 2016-2021. This data shows that the advanced HVAC controls market has huge potential as these forms an important component of HVAC equipment. There is a high demand for HVAC equipment in countries where both heating and cooling devices are used. In addition, countries like China, which are developing rapidly, require air quality monitoring systems to prevent respiratory diseases due to the rampant pollution.
Further, the report states that one challenge in the market is high capital and R&D investments. The HVAC controls market requires huge initial investments, especially to manufacture technologically advanced and high-quality products. Vendors need to make high investments in R&D as the HVAC controls market is growing more advanced technologically, while customers also prefer to buy an updated product rather than opting for an outdated one. This compels companies to invest more in R&D to update the controls with the advances in the HVAC market.
Honeywell International, Johnson Controls, Mitsubishi Electric, Schneider Electric, Siemens, Azbil, Delta Controls, Distech Controls, Mass Electronics, KMC Controls, NanoSense, Reliable Controls, Fr. Sauter AG, Trane, and Triatek.