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HVAC Control Market Size is projected to reach USD 27.48 Billion by 2030, growing at a CAGR of 6%: Straits Research

Aug 1, 2022
HVAC Control Market Size is projected to reach USD 27.48 Billion by 2030, growing at a CAGR of 6%: Straits Research

The global HVAC control market size was valued at USD 16,266 million in 2021. It is expected to reach USD 27,481 million by 2030, growing at a CAGR of 6% during the forecast period (2022­–2030). North America holds the second-largest share in the global HVAC control market and is expected to reach USD 4,314 million by 2030, growing at a CAGR of 5%.

/EIN News/ — New York, United States, July 21, 2022 (GLOBE NEWSWIRE) — HVAC (Heat, Ventilation, and Air Conditioning) controls are implemented to control how a heating, cooling, and ventilation system works. The sensing device and other equipment are used to compare the actual state, such as temperature or humidity, to the desired state. Things that control how heating, cooling, and ventilation equipment works make up HVAC Control. HVAC Control is used in many types of businesses, including industrial, enterprise, retail, hospitality, and residential.

The building automation and controls industry is expected to grow because of government programs and the creation of smart cities in developing countries. In turn, this makes the market for HVAC controllers grow. Building automation systems (BASs) and HVAC systems that connect to the Internet of Things are driving the market growth. Also, the growing demand for cloud computing in HVAC is a great way for the HVAC control market to grow.

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Emergence of IoT-Enabled HVAC Systems and the Growing Demand for Building Automation Systems are Stimulating the Global HVAC Control Market

HVAC systems that can connect to the internet are being used in more and more industries. This is because they have high operating speed, better time management for operations, efficient use of resources, less human effort, and higher productivity. HVAC systems are often used to control the humidity and temperature in the food, drink, chemical, pharmaceutical, and petrochemical industries.

Improving storage and warehouse facilities also means constantly checking airflow, temperature, and humidity. So, processing and storage companies are using IoT-enabled HVAC systems more to keep an eye on their equipment. This will likely give market players in developing countries an excellent chance to grow over the next few years.

More HVAC controls are being added to building automation systems (BASs). This is one of the most important things driving the growth of the market as a whole. More people are also using BASs because wireless sensor networks and protocols are improving. The market is also growing because office buildings and big shopping malls need BASs to make their management systems work better. A higher standard of living and the need for more energy-efficient HVAC systems are also driving up the demand for HVAC control in residential building automation systems, which is helping the market grow.

Underlying Market Opportunities Created by the Soaring Demand for Cloud Computing in HVAC

One of the most expensive things building managers have to pay for is air conditioning. End users are turning to cloud computing in HVAC to control costs and ensure the system works well. HVAC is using cloud computing more because it is scalable, flexible, and easier for people to work together. Also, many HVAC companies are putting a lot of work into developing cloud computing to keep their businesses going and get more customers worldwide. For example, in January 2018, Taiwan-based Advantech Co., Ltd. integrated software to help HVAC application development for building HVAC systems.

The system sends data to the cloud, where it is analyzed so that users can get real-time information through a control panel or another portable device. Similarly, the U.S. software company Wrightsoft made HVAC load analysis software that uses cloud technology and has much productivity-boosting potential. With this new technology, HVAC contractors can provide better customer service and cut costs simultaneously. Siemens’ Synco IC is a system that runs in the cloud and lets you remotely control your HVAC system.

Report Scope

Report Metric Details
Market Size USD 27.48 Billion by 2030
CAGR 6% (2020-2030)
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Implementation Type, End-User, and Regions 
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Global Corporation, Diakin Industries, Danfoss A/S,Delta Electronics Inc.,Emerson Electric Co.,Honeywell International Inc.,Johnson Controls
Key Market Opportunities Upsurge in Demand for Cloud Computing in HVAC Creates Lucrative Growth Opportunities
Key Market Drivers The Emergence of IoT-Enabled HVAC Systems
Booming Construction Market

Buy Now Full Report @ https://straitsresearch.com/buy-now/hvac-control-market

Regional Analysis

Asia-Pacific holds the largest global HVAC control market share and is expected to grow at a CAGR of 6.3% during the forecast period. In Asian countries, HVAC control systems are used in several end-use industries, such as automotive, metals and mining, and electronics. The market is likely to grow because of the growth of the electronics and aviation industries in this region.

North America holds the second-largest share in the global HVAC control market and is expected to reach USD 4,314 million by 2030, growing at a CAGR of 5%. North America’s HVAC control market depends on the excellent industrial infrastructure in developed economies like the US and Canada. Furthermore, as Mexico’s auto, food and beverage, and chemical industries grow, there is a huge demand for HVAC control in the region.

Europe is the least revenue-generating region in the global HVAC control market. In European countries like the UK, France, and Italy, strict rules about installing energy-efficient HVAC systems will likely increase the demand for HVAC control systems. This, in turn, drives the growth of the HVAC control market.

Key Highlights

  • The Global HVAC Control Market was valued at USD 16,266 million in 2021. It is expected to reach USD 27,481 million by 2030, growing at a CAGR of 6% during the forecast period (2022­–2030).
  • The global HVAC control market, when segmented by implementation type, is divided into New Construction and Retrofit. New Construction is the most dominant segment, growing at a CAGR of 5.7% during the forecast period.
  • The global HVAC control market, when segmented by end-user, is classified into Industrial, Residential, and Commercial. The Commercial sector is the largest market shareholder and is expected to grow at a CAGR of 6.9% during the forecast period.
  • The global HVAC control market is primarily segmented into three regions, namely North America, Europe, and Asia-Pacific. Asia-Pacific is the largest shareholder of the global HVAC control market and is expected to grow at a CAGR of 6.3% during the forecast period.

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The major key players in the global HVAC control market are –

  • Carrier Global Corporation
  • Diakin Industries, Danfoss A/S
  • Delta Electronics Inc.
  • Emerson Electric Co.
  • Honeywell International Inc.
  • Johnson Controls, etc.

Global HVAC Control Market: Segmentation

By Implementation Type

  • New Construction
  • Retrofit

By End-User 

  • Industrial
  • Residential
  • Commercial

By Regions 

  • North America
  • Europe
  • Asia-Pacific

TABLE OF CONTENT

  1. Introduction

    1. Market Definition
    2. Market Scope
  2. Research Methodology

    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview

    1. Report Segmentation & Scope
    2. Value Chain Analysis: HVAC Control Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. End-User Overview

    1. Introduction
      1. Market Size & Forecast
    2. Industrial
      1. Market Size & Forecast
    3. Residential
      1. Market Size & Forecast
    4. Commercial
      1. Market Size & Forecast
  5. Implementation Type Overview

    1. Introduction
      1. Market Size & Forecast
    2. New Construction
      1. Market Size & Forecast
    3. Retrofit
      1. Market Size & Forecast
  6. Regional Overview

    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Implementation Type
        2. By End-User
      3. Canada
        1. By Implementation Type
        2. By End-User
      4. Mexico
        1. By Implementation Type
        2. By End-User
      5. Latin America
        1. By Implementation Type
        2. By End-User
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Implementation Type
        2. By End-User
      3. France
        1. By Implementation Type
        2. By End-User
      4. U.K.
        1. By Implementation Type
        2. By End-User
      5. Italy
        1. By Implementation Type
        2. By End-User
      6. Spain
        1. By Implementation Type
        2. By End-User
      7. Rest of Europe
        1. By Implementation Type
        2. By End-User
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Implementation Type
        2. By End-User
      3. China
        1. By Implementation Type
        2. By End-User
      4. Australia
        1. By Implementation Type
        2. By End-User
      5. India
        1. By Implementation Type
        2. By End-User
      6. South Korea
        1. By Implementation Type
        2. By End-User
      7. Rest of Asia-Pacific
        1. By Implementation Type
        2. By End-User
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Implementation Type
        2. By End-User
      3. South Africa
        1. By Implementation Type
        2. By End-User
      4. Kuwait
        1. By Implementation Type
        2. By End-User
      5. Rest of Middle East & Africa
        1. By Implementation Type
        2. By End-User
  7. Company Profile

    1. Global Corporation
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. Diakin Industries
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. Danfoss A/S
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    4. Delta Electronics Inc
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio

Table of Content and Figure @ https://straitsresearch.com/report/hvac-control-market/toc

Market News

  • In April 2022, Diakin Industries acquired Duplomatic MS S.P.A, an Italian Comprehensive Hydraulic Manufacturer.
  • In January 2022, Carrier Global Corporation launched the Certified healthy air systems program to drive healthy indoor air quality. 
  • In January 2022, Delta Electronics Inc acquired Universal Instruments to enhance smart electronics manufacturing. 
  • In January 2022, Danfoss A/S expanded its production capacity by 130% and launched the next-generation pressure transmitter.

News Media
Cold Chain Logistics and the Food Industry
Lockdown Effect Of The Novel Coronavirus On Semiconductor Industry
Edge Computing: Expanding Possibilities
Top 7 Sensor Technology Companies In The Global Market

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About Straits Research Pvt. Ltd.

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Article originally published at https://www.einpresswire.com/article/582393832/hvac-control-market-size-is-projected-to-reach-usd-27-48-billion-by-2030-growing-at-a-cagr-of-6-straits-research

This news story originally appeared at Books - Reality Syndicate Viewers on 1 August 2022