Global HVAC Controls Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global HVAC Controls Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

HVAC refers to heating, ventilation and air conditioning, and HVAC controls consist of devices that control the operations of Heating, Ventilation, and Air Conditioning equipment. In the residences, the thermostat is connected to some kind of independent air conditioning unit. The function of the independent device can be controlled by adjustment. Here the thermostat is regarded as an HVAC controller, and at the same time it is also a sensor. When applying HVAC control systems to large facilities, HVAC control is sometimes part of a large system called building automation or energy management system.

Market Overview:

The latest research study on the global HVAC Controls market finds that the global HVAC Controls market reached a value of USD 17778.75 million in 2022. It’s expected that the market will achieve USD 34236.18 million by 2028, exhibiting a CAGR of 11.54% during the forecast period.

The epidemic has led to a decline in demand

On the one hand, COVID-19 has affected the global construction industry, leading to the suspension of ongoing and new infrastructure and construction projects, resulting in a decline in the adoption of HVAC control in new residential and commercial buildings. On the other hand, the declining demand caused by COVID-19 and the increase in economic uncertainty has hindered the operation of various industries. Many companies are already delaying the purchase of new machines, postponing scheduled upgrades, or canceling existing orders, which also restricts the use of components such as sensors and controllers. In addition, because the pandemic has also affected individuals’ per capita income and consumption expenditures, the adoption of new HVAC systems in the residential sector has significantly reduced. As a result, the previous demand for HVAC control has been adversely affected.

The epidemic destroys the industrial chain

The epidemic has caused a serious impact on the industrial chain of the HVAC industry. Under the blockade of the epidemic, the transportation cost of raw materials and parts has risen rapidly, and labor costs have also risen rapidly, and there has even been a shortage of materials and labor. The key components of HVAC control, such as sensors and controllers, are mainly manufactured in the Asia-Pacific region. However, due to the severe impact of the suspension of business in China and other Asia-Pacific countries, the production of HVAC components has been restricted, resulting in a serious decline in corporate investment. As a result, severe disruptions in the global supply chain restricted the supply of HVAC control components. At the same time, it also exposed the risk of over-reliance on key raw materials in many regions and companies. Supply shortages are expected to push up the prices of HVAC control systems and related components and equipment in countries such as the United States, Australia, and Germany that are highly dependent on Chinese business.

The rapid development of construction and industry

The booming development of the construction industry and industry has promoted the demand for HVAC control. Especially in emerging economies, the rapid population growth, the acceleration of urbanization and the growth of residents' income have promoted the rapid growth of construction activities in these areas. The number of residential and commercial buildings in the past few years has continued to rise. Although the new crown epidemic has caused a slowdown in the global construction industry, the impact on demand for construction activities is limited. With the recovery of the epidemic, construction activities in many regions are gradually recovering. Economic development has also promoted the development of industry and infrastructure construction, which has also increased the adoption of HVAC control, thereby promoting the development of the HVAC control market.

High cost and technical complexity

The HVAC project is a major project. It involves a wide range of inputs, including piping systems, air handling units (AHU), filters, air diffusers, heat pumps, etc. The installation process is also extensive. Even after completion, HVAC systems and controls require testing, long-term maintenance and repairs to achieve the best efficiency and indoor air quality. As a result, HVAC systems require high upfront and maintenance costs, which limits the growth in the demand for HVAC control adoption. Especially for commercial and industrial HVAC systems, due to the complexity and large scale of the components, the cost is higher and the technology is more complex, and the support of professional technical personnel is required. However, many companies and companies lack technical expertise and budgets, resulting in the implementation of ineffective HVAC systems and controls. Therefore, high cost and technical complexity have a certain restrictive effect on the global HVAC control market.

Technology and equipment upgrade

The upgrade of technology and equipment can provide numerous development opportunities for the global HVAC control industry. More advanced HVAC control will more effectively reduce operating costs and improve energy efficiency. Therefore, the need for newer and more complex controllers to replace existing old control systems may drive market growth. The transformation, replacement and incremental upgrade of existing systems are also expected in the markets of developed economies. The integrated control system composed of temperature, ventilation, lighting and other control systems can provide users with the benefits of different functions of different controls, and the market is expected to develop rapidly. Dynamic air conditioning is also expected to become a trend in the HVAC industry.

Region Overview:

In 2021, the share of the HVAC Controls market in North America stood at 27.18%.

Company Overview:

Gree Electric is one of the major players operating in the HVAC Controls market, holding a share of 10.35% in 2021.

Gree Electric

At the beginning of its establishment, Gree mainly focused on the assembly and production of household air conditioners. Today, it has developed into a diversified, high-tech global industrial group covering two major areas of household consumer goods and industrial equipment.

Midea Group

Midea Group is a Fortune 500 company with strong business growth in multiple areas. Including smart home, electromechanical, HVAC and building technology, robotics and automation and other fields.

Segmentation Overview:

As for product types, the Sensors segment held the largest market share in 2021.

Sensors

Sensors are an important part of HVAC, used to keep equipment running smoothly and safely, improve energy efficiency and protect human health. The most commonly used sensor in HVAC is a thermostat. When air passes through the sensor, he will read the temperature and compare the reading with the setting on the thermostat, and then adjust it. Other sensors such as pressure sensors and pipe smoke detectors also play a role in smarter HVAC control systems.

Controllers

A controller is a device that is connected to the network infrastructure and provides methods for monitoring and controlling terminal devices. HVAC controllers are used to monitoring and control the performance of heating, ventilation, and air conditioning systems in buildings. They monitor indoor environmental factors, such as humidity and temperature, and control heating and cooling to achieve and maintain the required levels. HVAC controllers use several different control techniques. Examples include limit control, linear control, PID control, feedforward control, fuzzy logic, and advanced or non-linear control.

Smart Vents

Smart vents can make the HVAC system operate more dynamically. Smart vent is an electronically controlled vent system that can use the existing forced ventilation HVAC system to provide room-by-room temperature control. The goal is to eliminate hot and cold spots in the space and better balance the overall temperature. The vent uses motion and proximity sensors to detect the space being used, and the electric vent automatically opens and closes to redirect the air as needed.

Application Overview:

The market's largest segment by application is the segment Residential, with a market share of 50.79% in 2021.

Key Companies in the global HVAC Controls market covered in Chapter 3:

Honeywell
Gree Electric
Emerson Electric
Schneider Electric
Daikin
Ingersoll Rand
Lennox International
Siemens
Johnson Controls
Carrier Corporate
Midea Group

In Chapter 4 and Chapter 14.2, on the basis of types, the HVAC Controls market from 2018 to 2029 is primarily split into:

Sensors
Controllers
Smart Vents
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the HVAC Controls market from 2018 to 2029 covers:

Residential
Commercial
Industrial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)