Global HVAC Control Systems Market to grow at a CAGR of 8.78% during the period 2017-2021

Summary

Orbis Research Present's Global HVAC Control Systems Market 2017-2021 Major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.

Description

Latest Research Report – Global HVAC Control Systems Market 2017-2021

the following companies as the key players in the Global HVAC Control Systems Market: Honeywell International, Johnson controls, Schneider Electric, ABB, Cylon, and Trane.

Commenting on the report, : “The latest trend gaining momentum in the market is increased focus on integrated building management systems (IBMS). In order, to reduce operational and maintenance costs and optimize energy consumption, building owners are deploying advanced lighting cooling, heating and ventilation systems that account for roughly 60%-70% of a building’s energy consumption. However, advancements in building automation system technology have incorporated changes that can successfully integrate two or more systems for optimizing the energy performance of the building.”

According to the report, one of the major drivers for this market is harnessing benefits of HVAC control systems. Developing economies around the world are undergoing a phase of rapid industrial growth which has subsequently led to an increase in energy consumption. It is predicted that the global energy demand will rise by 35% by 2035. The rising energy demand due to various infrastructure development activities has forced countries as well as companies to take concerted steps in optimizing energy usage.

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Further, the report states that one of the major factors hindering the growth of this market is high initial investment for vendors and end-users. To improve the overall energy efficiency and improve asset performance in any building facility, end-users need to invest in energy-efficient products and services. It is found that the usual cost of investment behind a building that runs on energy-efficient products is higher than those with conventional products and installations. The subsequent high cost of investment made to improve the building's energy efficiency acts as a major complication for the market to grow.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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