Global HVAC Controls Market Key Growth Factor Analysis & Research Study 2027
Posted by Karthik Pilla on August 6th, 2022
Bharat Book Bureau Provides the Trending Market Research Report on “HVAC Controls Market by Component (Sensors, Controllers, and Controlled Equipment), System, Implementation Type (New Construction, Retrofit), Application (Residential, Commercial, Industrial) and Region - Global Forecast to 2027” under Consumer Goods Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
The HVAC Controls Market size is estimated to be USD 17.2 billion in 2022 and is projected to reach USD 26.7 billion by 2027; it is expected to grow at a CAGR of 9.2% during the forecast period. According to the Consumer Technology Association (CTA), the number of smart homes in the US is expected to reach ~35.2 million units by 2020. The growth in smart homes is expected to create demand for HVAC controls market. An HVAC controls is used in smart homes for controlling air temperature, humidity, and fresh air intake. It helps maintain better airflow and comfortable temperatures in every room. In a smart home, one can monitor the system performance and respond to system-generated alarms from local or remote locations.
Smart HVAC systems can automate the HVAC controls and predict when maintenance is needed before any major issue starts affecting the system. This new technology trend can change uninterruptedly downtime for regularly scheduled check-ups. New HVAC technologies, which use an Internet of Things (IoT) system are embedded with sensors, software, and connectivity that enables the HVAC system to exchange data with other connected devices. IoT systems improve preventative maintenance by sensing data on air quality and equipment status. New and affordable Internet of Things HVAC technology makes it significantly easier to gain insight across a range of equipment
Temperature and humidity sensors are the most widely used sensors in an HVAC control system. These sensors measure the controlled medium and provide a controller with information related to the changing conditions of the medium in an accurate and repeatable manner. Temperature and humidity sensors are used in the anti-freezing and defrost mechanism of air ducts and refrigerant pipes to avoid condensation and the formation of ice in the HVAC system preventing damage to the system. Controlling humidity in buildings is critical for occupant comfort, and safety and protecting building infrastructure, production processes, stored goods, and environmentally susceptible articles such as artwork in museums.
“Temperature control systems: Largest growing system of HVAC controls market”
In 2016, only 11% of US households owned a smart thermostat. By January 2022, the number reached 24% and is still growing. Energy efficiency and long-term cost savings are usually among the top reasons homeowners are demanding smart thermostats. In January 2022, H2O Degree, a manufacturer of advanced two-way wireless submetering systems for tenant billing, leak/flood detection, utility conservation, and building automation system integration in multi-family and commercial facilities, announced the T1000 Smart Thermostat. The T1000 enables remote visualization and local control of conventional (forced air) heating/cooling, heat pumps, and hydronic heating, which is a direct replacement for conventional 24VAC thermostats. Such developments are expected to fuel the demand for temperature control systems across smart buildings in the future.
“Commercial: Largest application of HVAC controls market”
The commercial application segment is expected to hold the largest market share during the forecast period. HVAC systems consume a considerable amount of energy in commercial places; for instance, about 30% of the energy at a business place is consumed by HVAC systems. Commercial applications of HVAC controls are categorized into office buildings, education centers, healthcare facilities, hospitality centers, retail stores, and others. Office buildings mainly have a centralized HVAC system that is connected to rooftop units; thus, this system is the major consumer of power. An efficiently planned building would reduce energy consumption by HVAC and lighting controls.
“US: The highest market share in North American HVAC controls market.”
The HVAC controls market in the US is driven by the increasing implementation of HVAC controls in existing and new residential and commercial buildings. The US has the highest implementation of HVAC systems as the climate changes drastically throughout the year from extreme heat waves in summer to cold climates in winter. Residential buildings are also major consumers of HVAC systems. Commercial and residential buildings together account for more than 50% of the electricity consumption in the US.
This has led the US government to take efforts to save energy through various means. The US government’s initiative to reduce energy consumption includes the incentivization of green buildings and retrofits. The US Green Building Council (USGBC) has developed Leadership in Energy and Environmental Design (LEED) certification for the design, construction, and operation of high-performance green buildings.
The break-up of the primaries is as follows:
Honeywell International Inc. (US), Johnson Controls (US), Siemens (Germany), Carrier (US), Emerson Electric Co. (US), Schneider Electric (France), Trane Technologies plc, (US), DAIKIN INDUSTRIES (Japan), Delta Controls (Canada), Distech Controls (Canada), Danfoss (Denmark), Lennox (US), Fr. Sauter AG (Switzerland), LG Electronics (South Korea), Mitsubishi Electric Corporation (Japan), KMC Controls (US), Jackson Systems & Supply (US), Astronics Corporation (US), OJ Electronics A/S (Denmark), Regin (Sweden), Azbil Corporation (Japan), Robert Bosch GmbH (Germany), Computrols, Inc (US), Cubic Sensor and Instrument Co., Ltd. (China), and Reliable Controls Corporation (Canada)are among the many players in the HVAC controls market.
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About the AuthorKarthik Pilla
Joined: March 29th, 2019
Articles Posted: 588
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