Press release
HVAC Control Market Trends, Growth Analysis and Projections 2030 | Exclusive Report by AMR
HVAC Control Market
Commonly observed types of HVAC control are temperature control systems, ventilation control systems, humidity control systems, and integrated control systems. Among these, the temperature control system segment accounts for the largest market size by value in 2020, owing to increase in demand from various industries such as construction and manufacturing.
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Top Impacating Factors:
The market is analyzed with respect to different applications in industrial verticals such as industrial, commercial, and residential. The market is mainly driven by global economic growth and development in residential, commercial, & industrial sectors. However, fluctuation in raw material prices limit of the HVAC control market growth.
Asia-Pacific dominated the global HVAC control market, in terms of revenue, accounting for around 49.6% share of the global HVAC control industry, followed by Europe and North America. Moreover, the market in Asia-Pacific is growing with high CAGR, owing to urbanization and economic development in developing countries.
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The report segments the global HVAC control market on the basis of system, implementation type, end user, and region.
Based on system, the temperature control system segment held the lion's share in 2020, accounting for around one-third of the market. However, the integrated control system segment is expected to register the highest CAGR of 7.5% during the forecast period.
On the basis of implementation type, the retrofit segment would showcase the highest CAGR of 5.8% during the forecast period. However, the new construction segment held the largest share in 2020, contributing to more than half of the market.
The global HVAC control market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific dominated in 2020, holding nearly half of the market. Moreover, the region is expected to manifest the highest CAGR of 6.1% from 2021 to 2030.
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Top Players:
The key players profiled in the HVAC Control market report include Carrier Global Corporation, Daikin Industries, Danfoss, Delta Controls, Emerson Electric, Honeywell International Inc, Johnson Controls, LG Electronics, Schneider Electric, and Siemens.
Key Findings Of The Study
The report provides an extensive analysis of the current and emerging HVAC control market trends and dynamics.
Depending on system, the temperature control system segment dominated the HVAC control market, in terms of revenue in 2020 and the integrated control system segment is projected to grow at a significant CAGR during the forecast period.
By end user, the commercial segment registered highest revenue in 2020.
Asia-Pacific is projected to register highest growth rate in the coming years.
Depending on implementation type, the new construction segment dominated the HVAC control market, in terms of revenue in 2020, and retrofit segment is projected to grow at a significant CAGR during the forecast period.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, DE. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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