HVAC Control Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

HVAC Control Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global HVAC control market size reached US$ 15.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 22.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.

The heating, ventilation, and air conditioning (HVAC) control system is an automated mechanism used to regulate operations of heating and cooling conditions. They consist of control valves, sensors, energy sources and controlled devices. Ventilation, humidity, temperature and integrated are some of the commonly available HVAC systems. They are widely used to monitor and control HVAC performance and provide a comfortable environment by maintaining optimal temperature in enclosed spaces. HVAC control systems are equipped with sensing devices that compare the actual temperature of the area with a target temperature to enable the control systems to initiate an action. Some of the commonly used control systems include electronic, pneumatic and direct-acting systems. As a result, HVAC control units are widely used across various industry verticals such as hospitality, enterprises, retail and residential.

HVAC Control Market Trends:

The significant growth in the construction of commercial, industrial and residential buildings across the globe is one of the key factors creating a positive outlook for the market. HVAC control systems are widely used due to the increasing demand for enhanced air quality, performance and environmental issues. In line with this, the rising demand for remote access control systems for energy efficiency, streamlining operations and cost-effectiveness are favoring the market growth. Moreover, various technological advancements, such as the integration of smart devices with motion sensors and the Internet of Things (IoT), are providing an impetus to the market growth. These technologies assist in detecting occupancy within the building and turning the heating or cooling system down to lower power usage when no movement is detected for a prolonged period of time. In addition to this, the introduction of green technology due to the rising environmental concerns among consumers is positively impacting the market growth. Other factors, including rising expenditure capacities and the implementation of various government initiatives to promote energy-efficient buildings, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global HVAC control market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, implementation type, system and end user.

Breakup by Component:

Sensors

Controllers and Controlled Devices

Breakup by Implementation Type:

New Construction

Retrofit

Breakup by System:

Temperature Control Systems

Ventilation Control Systems

Humidity Control Systems

Integrated Control Systems

Breakup by End User:

Residential

Commercial

Industrial

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Azbil Corporation, Carrier Global Corporation, Computrols Inc., Daikin Industries Ltd, Danfoss, Delta Electronics Inc., Emerson Electric Co., Honeywell International Inc., Johnson Controls International, KMC Controls, Schneider Electric SE and Siemens AG.

Key Questions Answered in This Report:

How has the global HVAC control market performed so far and how will it perform in the coming years?

What has been the impact of COVID-19 on the global HVAC control market?

What are the key regional markets?

What is the breakup of the market based on the component?

What is the breakup of the market based on the implementation type?

What is the breakup of the market based on the system?

What is the breakup of the market based on the end user?

What are the various stages in the value chain of the industry?

What are the key driving factors and challenges in the industry?

What is the structure of the global HVAC control market and who are the key players?

What is the degree of competition in the industry?