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. 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. 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.
Browse 69 market data Tables and 63 Figures spread through 161 Pages and in-depth TOC on “HVAC Controls Market”
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. 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.
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Some of the major players operating in the HVAC controls market are Honeywell (US), Johnson Controls (US), Schneider Electric (France), Siemens (Germany), and United Technologies (US). The HVAC controls provided by these players are required to meet the standards mandated by governmental organizations, such as International Organization for Standardization (ISO).
Key Target Audience
- Architecture consultants
- HVAC control system component manufacturers
- HVAC control system providers
- HVAC equipment manufacturers
- HVAC system distributors
- MEP distributors
- Research organizations and consulting companies
- System integrators
- Technology investors
- Technology standard organizations, forums, alliances, and associations
“This study answers several questions for the stakeholders, primarily, which market segments to focus on in the next 2–5 years for prioritizing efforts and investments”
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