Asia Pacific HVAC Controls Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component Type (Sensors, Controllers, Smart Vents, and Others), Installation Type (New Installation and Retrofit), System (Temperature Control System, Humidity Control System, Ventilation Control System, and Integrated Control System), and End User (Residential, Commercial, and Industrial)
The Asia Pacific HVAC controls market is expected to grow from US$ 1,370.07 million in 2022 to US$ 3,661.03 million by 2028; it is estimated to grow at a CAGR of 17.8% from 2022 to 2028.
Geothermal systems and smart thermostats have incorporated new green technologies that are fundamentally altering the HVAC sector. A green approach to real estate development has become crucial for HVAC professionals and property owners. As a result, many HVAC experts and customers have expressed an interest in purchasing energy-efficient systems for cost saving purpose. The growth of HVAC systems with alternate heating fuel use, such as electricity and hydrogen, is driven by the surge in demand for green labelled items due to increased consumer environmental awareness. Manufacturers such as Daikin and Carrier are constantly working to offer cleaner solutions to satisfy the needs of environmentally conscious consumers. For instance, Carriers' Hybrid Heat System combines smart infinity control technology with a heat source, and the heat pump can switch between affordable energy sources according to the weather outside. Governments have begun to support eco-initiatives and advance eco-friendly HVAC systems. There will always be resources and support available under this voluntary initiative to assist participants in implementing additional possibilities for improvement. Green solutions are available for heating and cooling, and sustainability programs. The ultimate objective is to reduce emissions over the NYC by 85% by 2050. Thus, advancements in green technology will boost the demand for HVAC controls in the coming years.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific HVAC controls market. The Asia Pacific HVAC controls market is expected to grow at a good CAGR during the forecast period.
Asia Pacific HVAC Controls Market Revenue and Forecast to 2028 (US$ Million )
Asia Pacific HVAC controls market Segmentation
The Asia Pacific HVAC controls market is segmented based on by component type, installation, system, end user, and country. Based on component, the Asia Pacific HVAC controls market is divided into Sensors, controllers, smart vents, and others. The controllers segment dominated the Asia Pacific HVAC controls market in 2022. Based on installation, the Asia Pacific HVAC controls market is categorized into new installation and retrofit. The retrofit segment dominated the Asia Pacific HVAC controls market in 2022. Based on system, the Asia Pacific HVAC controls market is categorized into temperature control system, humidity control system, ventilation control system, and integrated control system. The temperature control system segment dominated the Asia Pacific HVAC controls market in 2022. Based on end user, the Asia Pacific HVAC controls market is categorized into residential, commercial, and industrial. The industrial segment dominated the Asia Pacific HVAC controls market in 2022. Based on country, the Asia Pacific HVAC controls market is segmented into Australia, India, China, Japan, South Korea, and Rest of Asia Pacific. China dominated the Asia Pacific HVAC controls market in 2022.
Carrier Global Corporation; DAIKIN INDUSTRIES, Ltd.; Delta Controls; Distech Control; Emerson Electric Co.; Honeywell International Inc.; Johnson Controls, Inc.; Schneider Electric SE; Siemens AG; and Lennox International Inc. by Altair are among the leading companies in the Asia Pacific HVAC controls market.
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