HVAC Controls Market Growth, Share, Size and Analysis by 2028

The HVAC controls market is expected to grow from US$ 6,500.0 million in 2021 to US$ 20,126.56 million by 2028; it is estimated to grow at a CAGR of 17.63 % from 2022 to 2028.

The heating, ventilation, and air conditioning (HVAC) control system is an automated mechanism for controlling the heating and cooling systems. They comprise energy sources, sensors, control valves, and equipment in the HVAC controls market. A few standard HVAC systems include ventilation, humidity, temperature, and integration. They are frequently used to keep an enclosed space at the ideal temperature, monitor and adjust HVAC performance, and provide a comfortable environment. HVAC control systems have sensors that allow them to compare the area's actual temperature with a target temperature and take appropriate action. Electronic, pneumatic, and direct-acting systems are a few widely used control systems in the HVAC controls market. HVAC controls are frequently employed in various business sectors, including hospitality, corporations, retail, and residential in the HVAC controls market.

One of the primary causes fostering an optimistic view of the HVAC controls market is the notable increase in commercial, industrial, and residential buildings worldwide. HVAC control systems are frequently used due to the rising demand for improved air quality, performance, and environmental concerns in the market. Moreover, the HVAC controls market is growing due to the rising demand for remote access control systems owing to their cost-effectiveness, energy efficiency, and operational efficiency. Further, several technical developments, such as the Internet of Things (IoT) and the incorporation of smart devices with motion sensors, are boosting the market growth. These devices help detect occupancy inside the structure and reduce energy use by turning down the heating or cooling system when there is no movement. In addition, the development of green technology due to the rising environmental concerns among consumers is fueling the market growth. The market is developing due to factors such as rising spending power and the deployment of several government programs to encourage energy-efficient construction in the HVAC controls market.

The key stakeholders in the HVAC control market are hardware and component providers, HVAC system manufacturers and integrators, government bodies, industry associations, regulatory bodies, and end users. All these stakeholders are a part of the HVAC controls market value chain that comprises three major segments, including component, installation type, system, and end user. Component and hardware providers provide various components to HVAC control system manufacturers, such as metals and wires. Government bodies such as regulating authorities and policymakers also play an integral role in underlying the rules and regulations related to manufacturing and R&D of control systems. The key players operating in the HVAC controls market include Carrier; Daikin; Delta Controls, Distech Control Inc., Emerson Electric Co.; Honeywell International Inc; Johnson Controls; Lennox International Inc; Siemens; and Schneider Electric. Several other market players have been analyzed to understand the market. The final product is then supplied to HVAC system manufacturers or system integrators, which through direct or indirect sales channels, reach the end users.

Strategic Insights

Impact of COVID-19 Pandemic on HVAC Controls Market

The emergence of the COVID-19 created enormous disruption across industries, including electronics & semiconductors. Every phase of the business witnessed drastic change, including the manufacturing units, capital expenditures, R&D, demand, supply chain, production decisions, and mergers and acquisitions (M&A). Over the past several months, the COVID-19 outbreak severely challenged the electronics and manufacturers' strategy making. The disruption among the raw material suppliers, temporary closure of manufacturing units, limited funding, and weak customer demand adversely impacted the electronics and semiconductor manufacturers in the HVAC controls market.

Lucrative Regions for HVAC Controls Market

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Market Insight
Growth in Construction Sector

With significant investment in commercial construction, infrastructural and institutional projects such as railway stations, bus terminals, airports, and educational institutions, the construction sector is expanding dramatically in emerging countries of Asia Pacific, the MEA, and SAM. The building industry's growth is due to the rapidly expanding urban population's desire for a higher standard of living. Moreover, the development of commercial structures, including office buildings, movie theatres, retail malls, and recreational facilities, is accelerating the installation of HVAC systems. A few economies intend to expand their industrial sectors by fostering a welcoming business environment for foreign investors and aiding domestic firms. Further, a few measures were launched by governments to assist industrialization, such as Made in China 2025, Make in India, Saudi Arabia's National Industrial Development & Logistics Program, and the UAE Strategy for the Fourth Industrial Revolution. Moreover, several multinational companies are moving their manufacturing operations to low-cost economies in ASEAN, accelerating the number of industrial buildings. As one of the essential systems in the construction process, HVAC system deployment is rising with the expansion of construction activities. The HVAC controls should benefit as a result of this element. Thus, growth in the construction sector is driving the demand for HVAC controls.

Component Segment Insights

The HVAC controls market analysis, based on component, is segmented as sensors, controllers, smart vents, and others. Heating, ventilation, and air conditioning (HVAC) controllers are used to track and manage the operation of HVAC systems in buildings. To achieve and maintain target levels, they stay updated on indoor environmental parameters such as humidity and temperature and manage heating and cooling.

HVAC Controls Market, by Component (% Share)

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Installation Type Segment Insights

Based on installation type, the HVAC controls market is bifurcated into new installation and retrofit. Most retrofit projects result from nagging comfort, operational, and efficiency issues that cannot be resolved by changing the air distribution system or calibrating the equipment. The type of heating and cooling system currently installed in the building will significantly impact the HVAC commercial retrofit possibilities.

System Segment Insights

The HVAC controls market analysis, based on system, is categorized into temperature control system, humidity control system, ventilation control system, and integrated control system. Especially in the summer, humidity is crucial to maintaining the ideal indoor atmosphere. Humidity control systems are largely used to manage HVAC humidity control. Humidifiers and dehumidifiers are the two categories of equipment.

End User Segment Insights

Based on end user, the HVAC controls market is categorized into residential, commercial, and industrial. Buildings with commercial HVAC systems have interconnected systems that deliver heating, ventilation, and cooling to specific floors or other parts of the building. Due to the ongoing urbanization, there is surge in demand for HVAC Controls in residential and housing projects. HVAC Controls are also being adopted in rising commercial and industrial facilities.

The HVAC controls market players focus on new product innovations and developments by integrating advanced technologies and features to compete with the competitors. In May 2022, Daikin announced its recent investment in Wlab Ltd., a startup company providing airborne allergy detection sensors. This investment accelerates the growth of Daikin in the AC business solutions.

The HVAC controls market analysis, based on component, is segmented into sensors, controllers, smart vents, and others. Based on installation type, the HVAC controls market is bifurcated into new installation and retrofit. Based on system, the market analysis is categorized into temperature control system, humidity control system, ventilation control system, and integrated control system. The market is segmented, based on end user, into residential, commercial, and industrial. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

HVAC Controls Market – Company Profiles

• Carrier
• Daikin
• Delta Controls
• Distech Control Inc.
• Emerson Electric Co.
• Honeywell International Inc,
• Johnson Controls
• Lennox International Inc
• Siemens AG
• Schneider Electric