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HVAC Controls Market Future Demand, Business Strategies, Industry Growth, Regional Outlook, Challenges and Forecast by 2030
HVAC Controls Market | Emergen Research
In addition, it aids in providing customer-centric services, which thereby increases profitability and customer retention. Another major advantage of incorporating IoT-enabled devices in HVAC system is minimum energy consumption. IoT-enabled devices also aid in providing real-time data when connected to a computer system, which enables industrial professionals and engineers to perform critical maintenance during equipment downtime. IoT devices also provide benefits for HVAC industry professionals. For instance, HVAC systems are incorporated with motion sensors and this aid in detection of devices in complex industrial facilities.
Moreover, when no movement is detected by sensor, computers or devices connected can suggest manually turning down or up the system for better cooling, heating, and reduce energy consumption. Furthermore, controls also employ latest networking and Artificial Intelligence (AI) technologies and this aid in detecting and adjusting controls as per preferences of users. Equipping an HVAC system with high-performance controls significantly minimizes energy consumption and addresses all other issues associated with conventional HVAC system. For instance, market companies are providing Machine-To-Machine (M2M) connectivity, which aids in reducing costs of operation in industrial facilities. It also aids in resource conservation, predictive maintenance, comfort control, and healthy building performance. As a result, demand for IoT-based HVAC control systems is increasing during the forecast period.
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The Global HVAC Controls Market Research Report added to its expanding repository is an all-inclusive document containing insightful data about the HVAC Controls market and its key elements. The report is formulated through extensive primary and secondary research and is curated with an intent to offer the readers and businesses a competitive edge over other players in the industry. The report sheds light on the minute details of the HVAC Controls industry pertaining to growth factors, opportunities and lucrative business prospects, regions showing promising growth, and forecast estimation till 2027. The report assesses the historical data and current scenario to offer accurate estimations of the HVAC Controls market in the coming years.
Major Companies in the Market Include:
Honeywell International Inc., Johnson Controls, Schneider Electric, Siemens, Emerson Electric Co., Delta Controls, Trane Technologies plc, Lennox International Inc., Daikin Industries, Ltd., Ecobee, Robert Bosch GmbH, and Jackson Systems & Supply.
Key Highlights From the Report
The sensors segment accounted for a significant revenue share in 2021. Increasing demand for temperature and humidity sensors due to fluctuating weather conditions is a major factor driving revenue growth of this segment. In addition, increasing consumer awareness regarding specifications of various types of available sensors is contributing to segment's revenue growth.
The temperature control system segment accounted for a significant revenue share in 2021. Wide availability of cost-effective temperature control systems is a major factor driving revenue growth of this segment. A temperature control system is most widely used HVAC control system mainly due to their ability to adjust room temperature as per preference of users. In addition, market companies are significantly investing in research & development activities and manufacturing temperature control system components that significantly aid in lower operating costs and provide constant comfort.
The commercial segment accounted for a significant revenue share in 2021. Significant investments in renovation of buildings and incorporation of building automation systems are major factors driving revenue growth of this segment. HVAC operation accounts for nearly half of a commercial facility's energy consumption on average. Building owners can save a lot of money and energy by installing right HVAC control system. More importantly, as it provides temperature control, fresh air circulation, and filtration, HVAC control is responsible for comfort and health of a building's occupants.
The Asia Pacific market accounted for a significant revenue share in 2021. Increasing population in countries, such as India, China, and others, is a major factor driving market revenue growth in this region. In addition, increasing consumer awareness regarding environmental conditions is contributing to market revenue growth.
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Emergen Research has segmented the global HVAC controls market based on component, system, application, and region:
Component Outlook (Revenue, USD Billion; 2019-2030)
Sensors
Controllers and Controlled Devices
System Outlook (Revenue, USD Billion; 2019-2030)
Temperature Control System
Ventilation Control System
Humidity Control System
Integrated Control System
Application Outlook (Revenue, USD Billion; 2019-2030)
Residential
Commercial
Industrial
Regional Outlook (Revenue, USD Billion; 2019-2030)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa
The report addresses the following key points:
The report estimates the expected market size from 2022-2030
The report provides a forecast of market drivers, restraints, and future opportunities for the HVAC Controls market
The report further analyses the changing market dynamics
Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
Extensive competitive landscape mapping with profiles of the key competitors
In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
Revenue forecast, country scope, application insights, and product insights
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