NEW
YORK, June 18, 2024 /PRNewswire/ -- The
global HVAC control systems market size is estimated to
grow by USD 9.66 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 7.51% during the forecast
period. Rising demand for efficient and fail-proof
HVAC controls is driving market growth, with a trend
towards increasing focus on integrated building management
systems. However, rising environmental pollution and stringent
government policies on hvac systems poses a challenge. Key
market players include ABB Ltd., Acuity Brands Inc., Azbil Corp.,
Computime Group Ltd., Delta Electronics Inc., Emerson Electric Co.,
Fr. Sauter AG, Generac Holdings Inc., Honeywell International Inc.,
Johnson Controls International Plc., KMC Controls Inc., Lennox
International Inc., Mass Electronics Pty Ltd., Mitsubishi Electric
Corp., NanoSense, Quest Controls Inc., Reliable Controls Corp.,
Schneider Electric SE, Siemens AG, and Trane Technologies plc.
Get a detailed analysis on regions, market segments, customer
landscape, and companies - Click for the snapshot of this
report
Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Product (Sensors,
Controlled devices, and Controllers), End-user (Automotive,
Residential, Commercial, and Industrial), and Geography (APAC,
North America, Europe, Middle East and Africa, and South
America)
|
Region
Covered
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
Key companies
profiled
|
ABB Ltd., Acuity Brands
Inc., Azbil Corp., Computime Group Ltd., Delta Electronics Inc.,
Emerson Electric Co., Fr. Sauter AG, Generac Holdings Inc.,
Honeywell International Inc., Johnson Controls International Plc.,
KMC Controls Inc., Lennox International Inc., Mass Electronics Pty
Ltd., Mitsubishi Electric Corp., NanoSense, Quest Controls Inc.,
Reliable Controls Corp., Schneider Electric SE, Siemens AG, and
Trane Technologies plc
|
Key Market Trends Fueling Growth
The HVAC control systems market is experiencing growth due to
the demand for energy efficiency and cost reduction in commercial
and residential buildings. Integration of lighting and HVAC systems
under one platform is a key trend, enabling optimized energy
consumption, improved profit margins, and a comfortable interior
environment. The rise of smart buildings is driving the adoption of
these technologies, leading to the integration of multiple systems
for enhanced building management and energy efficiency.
The HVAC (Heating, Ventilation, and Air Conditioning) Control
Systems market is experiencing significant growth due to the
increasing demand for energy-efficient solutions. Smart
technologies and the Internet of Things (IoT) are driving trends in
this sector. Homeowners and businesses are investing in HVAC
control systems to optimize energy usage, improve indoor air
quality, and enhance comfort. Comfort and automation are key
factors influencing market growth. HVAC control systems enable
users to monitor and manage temperature, humidity, and ventilation
remotely. Additionally, the integration of renewable energy sources
and the development of more advanced algorithms are expected to
further boost market expansion.
Research report provides comprehensive data on impact of trend.
For more details- Download a Sample Report
Market Challenges
- The HVAC control systems market faces challenges due to
increasing government regulations aimed at reducing greenhouse gas
emissions. HVAC systems contribute to air pollution through the
release of hazardous gases and consume significant electricity,
leading to power sector strain and additional pollution. Compliance
with regulations increases production costs, reducing profit
margins for manufacturers and suppliers. These factors negatively
impact the market's revenue growth during the forecast period.
- The HVAC (Heating, Ventilation, and Air Conditioning) Control
Systems market faces several challenges. These systems require
consistent and efficient operation to maintain comfortable indoor
environments. However, achieving this can be difficult due to
factors like system complexity, energy consumption, and maintenance
costs. Additionally, the integration of renewable energy sources
and the increasing use of IoT technology in HVAC systems present
new challenges. Ensuring compatibility and seamless integration of
these technologies is crucial for the success of HVAC Control
Systems. Furthermore, ensuring energy efficiency and cost savings
while maintaining optimal performance is a significant challenge.
Effective temperature management and preventive maintenance
strategies are essential to address these challenges and ensure the
longevity and productivity of HVAC Control Systems.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This hvac control systems market report extensively covers
market segmentation by
- Product
- 1.1 Sensors
- 1.2 Controlled devices
- 1.3 Controllers
- End-user
- 2.1 Automotive
- 2.2 Residential
- 2.3 Commercial
- 2.4 Industrial
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Sensors- The HVAC control systems market is
experiencing significant growth due to increasing demand for energy
efficiency and automation in buildings. These systems regulate
temperature, humidity, and ventilation, enhancing indoor comfort
and reducing energy consumption. Key players in this market include
Honeywell, Johnson Controls, and Siemens, who offer advanced
solutions to meet evolving customer needs. The market is driven by
factors such as government regulations, technological advancements,
and the growing construction industry.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The HVAC Control Systems Market in the construction sector is
experiencing significant growth due to the increasing demand for
energy efficiency in both residential and commercial buildings.
Smart homes and offices are integrating advanced HVAC control
systems to optimize energy consumption, reduce wastage, and enhance
building automation. Conventional HVAC systems are being replaced
with more efficient alternatives, including those that utilize
occupant detection and temperature and humidity sensing devices.
Urban population growth and the resulting increase in energy
consumption have made the implementation of HVAC control systems a
priority. Despite the numerous benefits, the market faces technical
complexities that may hinder widespread adoption. Energy
consumption reduction is a key focus area for residential buyers,
making control systems for lighting and HVAC essential components
of modern building design. Commercial construction projects are
also investing in these systems to improve overall energy
efficiency and reduce operational costs.
Market Research Overview
The HVAC Control Systems Market encompasses solutions and
technologies that regulate and manage heating, ventilation, and air
conditioning systems. These systems ensure optimal indoor
environmental quality and energy efficiency. The market is driven
by factors such as increasing energy efficiency regulations,
growing demand for smart buildings, and the integration of IoT and
AI technologies. HVAC control systems offer features like
temperature control, humidity regulation, air quality management,
and energy management. They are used in various sectors including
commercial, residential, and industrial. The market is expected to
grow significantly due to the rising awareness of energy
conservation and the need for comfortable and healthy indoor
environments.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Sensors
- Controlled Devices
- Controllers
- End-user
-
- Automotive
- Residential
- Commercial
- Industrial
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/hvac-control-systems-market-size-is-set-to-grow-by-usd-9-66-billion-from-2024-2028--rising-demand-for-efficient-and-fail-proof-hvac-controls-to-boost-the-market-growth-technavio-302175323.html
SOURCE Technavio