HVAC Controls Market To Reach USD 50 Bn By 2032, Says Global Market Insights Inc.

(MENAFN- GlobeNewsWire - Nasdaq) Major HVAC controls market participants include Trane Technologies, Carrier Global Corporation, Daikin Industries, Siemens, Schneider Electric, Honeywell International Inc., and Johnson Controls.

Selbyville, Delaware,, March 06, 2024 (GLOBE NEWSWIRE) --

The HVAC controls market revenue to cross USD 50 billion by 2032, as reported in a research study by Global Market Insights Inc .

The industry growth is driven by the increasing emphasis on energy efficiency and sustainability in buildings. With rising energy costs and growing environmental concerns, building owners and operators are seeking innovative solutions to optimize energy usage and reduce carbon emissions. HVAC controls help in achieving these objectives by enabling precise control over heating, ventilation, and air conditioning systems, thereby improving overall energy efficiency and indoor comfort levels.

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The growing adoption of smart building technologies and the Internet of Things (IoT) will boost the connected HVAC controls market trends. These systems equipped with sensors, actuators, and communication interfaces enable real-time monitoring, remote management, and data analytics capabilities, enhancing operational efficiency and building performance. They allow building managers to optimize occupancy patterns, outdoor weather conditions, and energy demand, leading to improved energy savings and occupant comfort.

Sensors segment is poised for sustained growth through 2032, owing to the development of highly accurate and responsive sensors capable of monitoring various parameters such as temperature, humidity, air quality, and occupancy levels in real-time. These components provide essential data inputs that allow to dynamically adjust HVAC settings to optimize energy efficiency and indoor comfort levels. Additionally, sensor integration enables predictive maintenance capabilities, allowing HVAC systems to detect potential issues early and prevent costly breakdowns.

HVAC controls market from retrofit segment is slated to generate high demand through 2032, driven by the integration of advanced control technologies into legacy HVAC systems. Retrofit solutions enable seamless integration with existing building infrastructure, minimizing disruption to ongoing operations and reducing installation time and costs. Moreover, the retrofit segment offers a scalable approach to upgrading HVAC systems, allowing building owners to implement upgrades gradually based on budgetary constraints and project priorities.

Europe HVAC controls market share is touted to surge at a rapid pace through 2032, owing to the stringent energy efficiency regulations and sustainability initiatives in the region. European countries prioritize reducing greenhouse gas emissions and energy consumption, leading to widespread adoption of energy-efficient HVAC systems and controls. Additionally, the region's focus on building automation and smart technologies drive increasing investments in smart building infrastructure and IoT-enabled HVAC control systems. The growing awareness of indoor air quality and occupant comfort favor the product adoption equipped with air quality sensors and advanced filtration technologies. These factors create lucrative opportunities for the regional manufacturers in the market.

Key players involved in the HVAC controls market are Trane Technologies, Carrier Global Corporation, Daikin Industries, Siemens, Schneider Electric, Honeywell International Inc., and Johnson Controls.

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Partial chapters of report table of contents (TOC):

Chapter 2 Executive Summary
2.1 HVAC controls industry 3600 synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total addressable market (TAM), 2024-2032
2.3 Regional trends
2.4 System trends
2.5 Component trends
2.6 Implementation type trends
2.7 Application trends
Chapter 3 HVAC Controls Market Insights
3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Government incentives and rebates
3.8.1.2 Integration with building management systems (BMS)
3.8.1.3 Demand for comfort and personalization
3.8.1.4 Focus on indoor air quality (IAQ)
3.8.1.5 Rapid urbanization and ongoing construction activities
3.8.2 Industry pitfalls & challenges
3.8.2.1 Inadequate system design
3.8.2.2 Lack of remote monitoring
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis

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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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