HVAC Controls Market: Projected To Reach USD 34.6 Billion By 2029 With A 9.5% CAGR

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Market of HVAC Controls

According to a Report by Exactitude Consultancy, top companies covered include: Carrier Global Corporation, Daikin Industries, Danfoss, Delta Controls

LUTON, BEDFORDSHIRE, UNITED KINGDOM, August 28, 2024 /EINPresswire / -- The HVAC controls market is expected to grow at 9.5% CAGR from 2024 to 2030. It is expected to reach above USD 34.6 billion by 2029 from USD 15.29 billion in 2020.

Market Overview

The full form of HVAC is Heating Ventilation and Air Conditioning Systems. It is a technology that involves the management of temperature and humidity within an environment by the circulation of air inside and outside the building. HVAC controllers are programmed to meet different environmental requirements as well as accommodate even the best and the worst circumstances. Some of these include; changes in humidity levels, occupancy level, solar heat gains, new equipment among others. These HVAC controls are in the programmable category so as to accommodate special needs. The analog inputs in HVAC controls measures temperature, humidity, and pressure while the digital inputs controls air flow in responses to command such as hot or cold.

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What Information does this report contain?

Historical data coverage: Growth Projections: 2024 to 2030.

Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.

6-year performance forecasts: major segments covering applications, top products and geographies.

Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

HVAC Controls Market Trends

This can be attributed to the ongoing progressions made in the green technology sector which is anticipated to boost the overall market.

Given growing consumer concern on environmental degradation and improved understanding of environmental issues, there is anticipated trend towards more green-labeled products, which include the HVAC systems with consumption of other forms of heating fuel like electricity and hydrogen. Our companies like Daikin and Carrier are not idle, and they are trying hard to come up with cleaner solutions for clients who care about the environment. For instance, Carrier's Hybrid Heat System features an integrating between, heat pump and smart infinity control technology while the heat pump is capable of moving between cost-effective energy sources based on weather conditions. And consequently, the rising usage of environmentally sustainable products is also believed to fuel the demand for HVAC control systems in the future.

The introduction and incorporation of Smart Technologies into the Household Devices

The consumers' expenditure capacity rate has grown over years, and this is being exhibited by the use of smart technology in homes. The interconnectivity of the home gadgets like the refrigerator as well as the dish washer means more usage of HVACs. The idea of linking HVAC Systems with other controls like mobiles is also on the rise among consumers to have better control and monitoring of the equipment.

HVAC Controls Sector: Growth Drivers

World Impact of Global Warming
The rapid advancements in the industrial and commercial sectors have led to the large scale emission of carbon in the atmosphere. The issue of carbon has therefore amplified the case of climatic change within the past few decades. Due to the increase in temperature fluctuation and the unpredictable weather pattern HVAC equipment has become a necessity and not a luxury which will help fuel the market in the expected forecast period. For instance, the surface temperature of the earth in 2020 was approximately 0, the surface temperature of the earth in 2020 was about 0. 7 Celsius degrees warmer than it was pro 20th c., or 97 Celsius degrees above the mean.

Increased Smart Thermostatic Adoption
A smart thermostat is definitely a Wi-Fi capable device for the regulation of heating and cooling of a smart home as well as for monitoring the energy utilization. Out of these multiple advantages the integration of smart thermostats has been increasing in the residential as well as in the commercial areas, which is also expected to rapidly boost the market growth in the future. As per the survey statistic, it was found that in Germany, the percentage of homes with fitted smart thermostats by 2021, 18%.

Competitive Analysis:

In this section, we assess the competitive landscape of the HVAC Controls Market, focusing on key players.

Carrier Global Corporation, Daikin Industries, Danfoss, Delta Controls, Emerson Electric, Honeywell International Inc, Johnson Controls, LG Electronics, Schneider Electric, Siemens, and others.

HVAC Controls Market Key Developments:

In July 2020, J2 Innovations, a siemens company, the developer of a software platform for building automation and IoT applications, partnered with Clivet SpA to develop innovative HVAC plant and building optimization solutions.

In April 2022, Johnson Controls launched the YORK YVAA Variable Speed Drive Screw Chiller, featuring increased operating efficiency, a reduced footprint, and integration with low-GWP refrigerants

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HVAC controls Market Segmentation Analysis

By Type (Integrated control, Thermal, humidity and temperature control, Ventilation control)

The temperature & humidity control segment is expected to account for 48% of the Worldwide market for HVAC controls in the future due to the rising usage of heating and cooling systems that include air conditioners, furnaces, storage water heaters, and such in all parts of the world. The fact that HVAC system can dehumidify the air, modulate the indoor environment, and protect from health and safety threat influences has made HVAC temperature & humidity control systems more popular.

Further, it plays a role in the proper conditioning of the temperatures and also the conservation of energy because less requirements for the usage of heaters and coolers. For example, in America the total shipments of gas warm air furnaces in December 2020 were around 379,295 units. However, the global demand of room air conditioner reached almost 96.5 million sets in 2021.

By Application (Residential, Industrial, Commercial)

The revenue share that the commercial HVAC controls market is poised to earn within the coming days is quite high, about 50% due to globalization processes. Therefore, commercial people tend to install more HVAC systems in business premises in order to create and maintain suitable working conditions for a business building. In addition, commercial structures must perform optimally throughout their useful life; consequently, they incorporate HVAC control systems for efficient energy control in commercial facilities, reducing running expenses and enhancing occupants' comfort and well-being.

HVAC Controls Regional Analysis

APAC Market Forecast

HVAC Controls market in Asia Pacific is expected to offer the largest opportunity of 45% by 2036 owing to the growing industrialization across all seasons of the diverse countries. This would raise the demand for efficient temperature management in homes and business that could boost demand for HVAC in the area to ensure survivable operation Bangladesh industrial sector grew by approximately 7.2 percent in 2020., while the latter expanded for Vietnam by nearly 5% more in the same.

North American Market Statistics

Thus, the North America HVAC controls market share is expected to be the second largest, accounting for 25% throughout the forecast period owing to the growth of commercial construction. HVAC systems are necessary in the present-day structures as large-capacity accommodate individuals who require sufficient supply of fresh air, this may lead to rise in demand for HVAC control systems in the region to ensure the people spending most of their time in business buildings do so comfortably and under controlled environment. For example, while there was around 1.2 million commercial buildings in the United States only in the year 2010, it has risen to nearly 6 million in the year 2020.

Market Segmentation:

In this section, we provide a breakdown of the HVAC Controls Market into segments based on different criteria, including the type of analysis, industry verticals, and geographic regions.

HVAC Controls Market By Component, 2020-2029, (USD Billion, Thousand Units)

Sensors

Controllers And Controlled Devices

HVAC Controls Market By System, 2020-2029, (USD Billion, Thousand Units)

Temperature Control System

Ventilation Control System

Humidity Control System

Integrated Control System

HVAC Controls Market By Implementation Type, 2020-2029, (USD Billion, Thousand Units)

New Construction

Retrofit

HVAC Controls Market By Application, 2020-2029, (USD Billion, Thousand Units)

Residential

Commercial

Industrial

Key Questions Covered in HVAC Controls Market Report:

What is the present HVAC Controls market size in terms of revenue and volume, and how much growth is expected during the forecast period?

Which are the key developments that are anticipated to stimulate HVAC Controls market trends?

Which factors will trigger product demand and how much product consumption is estimated?

What are the upcoming business opportunities and restraints?

Which region will dominate the global HVAC Controls market share?

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