Heating, Ventilation, and Air Conditioning (HVAC) Controls Market Forecasts to 2028 – Global Analysis By Component (Controllers, Sensors), Control (Cleaning, Cooling), Application (Pharmaceutical, Industrial) and By Geography

Heating, Ventilation, and Air Conditioning (HVAC) Controls Market Forecasts to 2028 – Global Analysis By Component (Controllers, Sensors), Control (Cleaning, Cooling), Application (Pharmaceutical, Industrial) and By Geography

According to Stratistics MRC, the Global Heating, Ventilation, and Air Conditioning (HVAC) Controls Market is accounted for $13,198.16 million in 2021 and is expected to reach $22,039.38 million by 2028 growing at a CAGR of 7.6% during the forecast period. HVAC is known as a heating, ventilation, and air conditioning computing device that controls the environment of enterprises and data center and provide air condition services to the end-users. HVAC systems help to control the temperature, quality of air, and humidity in indoor and also vehicle environments. The HVAC enables to change the ambient temperature and humidity to optimize the performance of the emplacement. The HVAC controls are installed in larger structures namely data center, power system, and security & safety equipment. HVAC has a wide range of applications such as offices and industries to efficiently manage the cost of cooling and heating in the venue.

Market Dynamics:

Driver:

Emergence of IoT-enabled HVAC systems

The amalgamation of the HVAC industry and IoT provides for vastly superior customer-centric services, enabling remote appliance control. The key benefits of the inclusion of IoT in the energy sector are the operational visibility into HVAC appliances and ways to reduce, by a large margin, energy consumption. By integrating smart devices with motion sensors, for example, HVAC contractors can get their devices to continuously monitor occupancy within the building. When no movement is detected for a prolonged period, the system can suggest, through an app notification, to turn heating (or cooling) down to lower the power usage. The controls can also easily employ the latest networking and AI technologies and thus be capable of learning the tenants’ preferences and adjusting to their comfort needs automatically over time.

Restraint:

Low adoption of HVAC controls

Global warming and the need to achieve maximum energy conservation have become major global issues. Advanced HVAC systems help to address these concerns effectively; however, awareness regarding the benefits of HVAC systems and controls is low. The implementation of HVAC systems in residential buildings in developed countries is high; however, because of the high cost associated with the implementation of these systems, the adoption remains low even though the environmental benefits are high. Setting up an HVAC system in a building is a part of a subcontract given to a specialized company by contractors. However, a majority of subcontracting companies lack technical expertise and budget, which leads to the implementation of ineffective HVAC systems and controls. Additionally, there is a lack of awareness regarding HVAC standards among contractors.

Opportunity:

Rising demand for cloud computing in HVAC

Cloud computing helps in storing data, carrying out processes, and running businesses using internet servers located in a remote location. It has evolved to become an engine of enterprise technology innovation. In HVAC systems, contractors store various data, such as information related to HVAC loads, equipment implemented in a building, proposals, maintenance activities, and others, which are created in a variety of systems that are disconnected from each other. Acquiring such data manually is aligned with the risk of data loss and may also lead to confusion. To solve this problem, a common platform, i.e., cloud computing, can be used, providing access to everyone dealing with the project. Updated information regarding the project, client requirement, and equipment and controls selection can be done easily with a cloud platform. The same data can be used for future reference.

Threat:

Decelerated growth of HVAC controls

The World Health Organization (WHO) made an assessment and announced the COVID-19 disease to be pandemic. COVID-19 pandemic has led to severe global socio-economic disruptions impacting millions of people across the world. Concerns have been raised about the spread of the disease through the operation of HVAC systems, since the infectious disease can spread by several different routes, including transmission through the air. According to the Centers for Disease Control (CDC), the virus that causes COVID-19 is thought to spread mainly from person to person through respiratory droplets that are produced when an infected person sneezes, coughs, sings talks, etc. These droplets can land in the mouths or noses of people who are nearby or possibly be inhaled, which is way more likely when people are in close contact with one another (within about 6 feet). Theoretically, these infected droplets could be dispersed through an HVAC system and spread to other occupants, but this scenario appears to be unlikely. Even the World Health Organization (WHO) has contributed to guidance on ventilation and air-conditioning systems in the context of COVID-19.

The sensors segment is expected to have the highest CAGR during the forecast period

The sensors segment is growing at the highest CAGR during the forecast period as sensors are responsible for sensing various elements in the atmosphere and sending information accurately to controllers, which can then be processed for taking appropriate actions. These sensors also detect if the actions taken by controllers and controlled equipment have given the desired results. The development of wireless technology and its application in IoT and smart homes are the factors fueling the market for sensors in HVAC controls.

The controllers & controlled devices segment is expected to be the largest during the forecast period

The controllers & controlled devices segment is expected to be the largest share during the forecast period. Controllers and controlled equipment are responsible for the execution of HVAC controls in the area. They enable the proper flow of air inside the building to maintain indoor humidity and ventilation levels. Their application in residential and commercial sectors drives the market for controllers and controlled equipment. The use of innovative smart vents in controllers and controlled equipment is also fueling the growth of the HVAC controls market.

Region with highest share:

North America is projected to hold the largest share in the market. Supportive government plans, favorable laws, programs, and associations are the other major factors driving the growth in this region. However, the US is expected to face a significant reduction in its market size in 2020 due to the adverse effects of COVID-19 on the infrastructure, industrial, and commercial sectors. The adoption of HVAC control systems might be largely impacted in 2020 due to the shutdown of various ongoing construction sites. However, with these projects gradually resuming operations, the demand for HVAC control systems used in such projects may increase with time in the coming years, along with economic recovery.

Region with highest CAGR:

The Asia Pacific is projected to have the highest CAGR in the market. Technological advancements and inclination toward the use of energy-efficient products fuel the growth of the HVAC controls market in APAC. The growing population in developing countries in this region, along with environmental awareness, is supporting the adoption of HVAC controls. The rise in the adoption of green buildings and government initiatives to regulate energy-efficient practices across the commercial sector is also aiding the adoption of HVAC controls in this region. However, the APAC market is expected to see a dip owing to the halt of both ongoing as well as new infrastructure and construction projects due to COVID-19. Also, as the pandemic has also affected individual per capita income, the adoption of new HVAC systems in the residential segment has significantly decreased.

Key players in the market:

Some of the key players profiled in the Heating, Ventilation, and Air Conditioning (HVAC) Controls Market include Apollo America, Computrols, CoolAutomation, Daikin Industries, Ltd., Danfoss, Delta Controls, Emerson Electric, Honeywell International Inc, Innotech, Jackson Systems, Lennox International Inc. , LG Electronics, Schneider Electric, Siemens AG, Trane Technologies Plc, and Carrier Global Corporation.

Key developments:

In September 2020: Carrier launched the Weather Expert rooftop unit series, which features real variable-speed cooling capacity and control, including the variable-speed 48JC gas/electric and 50JC electric/electric versions that can cool down to 25% of typical capacity and up to 105 percent.

In July 2020: Clivet SpA and Siemens collaborated to develop novel HVAC plant and building optimization solutions. Siemens is the developer of a software platform for building automation and IoT applications.

In June 2020: Honeywell and SAP SE partnered to improve building performance using integrated cloud-based business and operational technology data, which delivers financial and operational analytics for corporate and real estate owners and operators.

Implementations Covered:
New Construction
Retrofit

Components Covered:
Controllers & Controlled Devices
Sensors

Control Systems Covered:
Temperature Control Systems
Humidity Control Systems
Integrated Control Systems
Ventilation Control Systems

Controls Covered:
Cleaning & Air Movement
Cooling
Heating
Humidfying & Dehumidfying
Ventilating

Control Loops Covered:
Open-Loop Control
Closed-Loop Control

Systems Covered:
Electric/Electronic Systems
Pneumatic Systems
Direct Acting Systems

Applications Covered:
Residential
Commercial
Pharmaceutical
Industrial

Regions Covered:
North America
US
Canada
Mexico
Europe
Germany
UK
Italy
France
Spain
Rest of Europe
Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
South America
Argentina
Brazil
Chile
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances