HVAC Controls Market by System (Temperature, Ventilation, Humidity & Integrated Controls), Component (Sensors and Controllers & Controlled Devices), Revenue Source (HVAC Controls & BEMS), Application, and Geography - Global Trend and Forecast to 2022
“The HVAC controls market to experience high growth in the coming years”
The HVAC controls market is expected to reach USD 17.51 billion by 2022 at a CAGR of 10.8% between 2016 and 2022. The main factors which positively impact the HVAC controls market are the demand for improved energy-efficient devices and low environmental impact with the use of HVAC controls, increasing use of IP technology, growing number of construction activities, and increased legislation and energy management initiatives for increasing the adoption of HVAC. The high level of efficiency through wireless controls and sensors and tax reduction offered by government for the implementation of HVAC controls are some of the other factors supporting the growth of the market.
“Market for commercial buildings application expected to grow at a high CAGR during the forecast period”
The market for the commercial buildings application—which includes office buildings, educational centers, healthcare centers, hospitality centers, retail centers, and others—is expected to grow at a high CAGR. HVAC system is the highest energy consumer in commercial places. Various government regulations and tax credit schemes for retrofits are encouraging the growth of the HVAC controls market. Additionally, Federal Energy Policy Act of 2005 also provides a tax credit to the owners of new or existing commercial buildings on the implementation of heating, cooling, ventilation, or hot water systems which would help to reduce the total energy consumption of the building and also reduce energy-related costs. Thus, the owners of commercial building increasingly prefer implementing HVAC controls to reduce the energy consumption.
“Asia-Pacific market expected to witness high growth”
The increasing real estate and infrastructural activity in the Asia-Pacific region along with the increasing population and urbanization in countries such as China and India drive the growth of the market for HVAC controls. HVAC controls are gradually becoming an integral part of digitalized households. The market for HVAC controls in the residential, commercial, as well as industrial buildings applications is expected to grow with the new construction activities which are expected to implement HVAC controls on a large scale. Integrated control systems are expected to hold the largest share of the market in the future owing to its benefit of offering different controls through a single device.
Break-up of the profile of primary participants for the report is as given below:
By Company Type - Tier 1 – 45 %, Tier 2 – 32%, and Tier 3 – 23%
By Designation – C level – 40%, Director level – 28%, Manager level – 32%
By Region – North America - 48%, Europe – 15%, APAC – 32%, RoW – 5%
The major companies involved in the development of HVAC controls market include Delta Controls Inc. (U.S.), Distech Controls Inc. (U.S.), Emerson Electric Co. (U.S.), Honeywell International Inc. (U.S.), Ingersoll Rand Plc. (Ireland), Johnson Controls, Inc. (U.S.), KMC Controls Inc. (U.S.), Lennox International Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), and United Technologies Corporation (U.S.).
Reasons to buy the report:
This report includes the market statistics pertaining to system, component, revenue source, application, and geography along with their respective revenues.
The Porter’s five forces framework has been provided along with the value chain analysis to provide an in-depth insight into the HVAC controls market.
The major drivers, restraints, challenges, and opportunities for the HVAC controls market have been detailed in this report.
Illustrative segmentation, analyses, and forecast for the markets based on system, component, revenue source, application, and geography have been conducted to give an overall view of the HVAC controls market.
The detailed competitive landscape includes key players, in-depth analysis of the competitive situation, and revenue of key players.
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