The global HVAC control systems market size is expected to reach USD 29.2 billion by 2025, expanding at a CAGR of 12.2%, according to a study conducted by Grand View Research, Inc. The rise in demand for HVAC equipment and advent of smart controllers are some factors anticipated to positively affect market growth. The growing adoption of building management systems is also expected to impel market growth.
Advancements
in the field of sensors is anticipated to offer opportunities for market growth
over the forecast years. Numerous sensors including temperature and humidity
form a core component of any HVAC system. These sensors gather real-time data
and help smart functioning of the equipment by analyzing surrounding changes.
Technological
upgrades in systems that improve energy efficiency of HVAC equipment are
expected to further fuel the HVAC control systems market. For instance, Siemens
provides Synco 700, a primary controller equipped with KNX communication
standard. KNX helps in communicating energy related information and thus saves
energy wasted in unnecessary heating/cooling. Such advancements are expected to
increase adoption of energy efficient systems for controlling heating,
ventilation, and air conditioning over the forecast period.
Furthermore,
the rising demand for replacement and retrofit of controllers is expected to
drive the market growth. Considering high installation costs, consumers seldom
replace their heating, ventilation, and air conditioning equipment. However,
just changing a unit used to operate the HVAC equipment can increase its
efficiency. Thus, the demand for replacement and retrofit systems is
anticipated to surge over the next six years.
The
Asia Pacific market held largest market share in 2018 and is anticipated to
continue its dominance over the forecast period. This is attributed to rising
demand for heating, ventilation, and air conditioning in emerging economies
such as India and China. In addition, rising disposable income among consumers
will drive the regional market. The North America market is likely to exhibit
more than 10% CAGR over the forecast period. This is attributed to rising
adoption of smart homes in the region. In addition, presence of key market
players in the region such as Nest and Honeywell will drive the market in this
region.
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HVAC Control
Systems Market Report Highlights
- The global
HVAC control systems market is gaining traction owing to increasing
popularity of building management systems that provide ease of controlling
all the connected equipment in a building
- The sensors
segment accounted for a market share of over 30% in 2018 owing to the use
of multiple sensors in HVAC controllers. These sensors are essential for
measuring the environment condition and sending signals to the controller
- The
integrated control segment is anticipated to grow at a substantial CAGR of
more than 12.0% from 2019 to 2025 owing to ease and comfort it offers by
combining functions of multiple controllers in a single unit
- The commercial
segment is anticipated to witness healthy growth due to increasing demand
across the hospitality sector
- Climate
change and increasing awareness regarding energy conservation are the
primary growth drivers for the Asia Pacific market.
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HVAC Control
Systems Market Segmentation
Grand View Research has
segmented the global HVAC control systems market based on component, system,
application, and region:
HVAC Control
Systems Component Outlook (Revenue, USD Million, 2015 - 2025)
- Sensors
- Controllers
- Controlled Devices
HVAC Control Systems
Outlook (Revenue, USD Million, 2015 - 2025)
- Temperature & Humidity Control
- Ventilation Control
- Integrated Control
HVAC Control
Systems Application Outlook (Revenue, USD Million, 2015 - 2025)
- Residential
- Commercial
- Industrial
HVAC Control
Systems Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East & Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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