HVAC Controls Market Growth Reports & Analysis by 2030

HVAC Controls Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Hardware and Software & Services), 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)

Publication Month : Aug 2023

  • Report Code : TIPEL00002153
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 208
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[Research Report] The HVAC controls market size is expected to reach US$ 41.32 billion by 2030 from US$ 9.73 billion in 2022, at an estimated CAGR of 19.8% from 2022 to 2030.

Analyst Perspective:

Increase in the building of commercial, industrial, and residential structures worldwide drives the HVAC controls market growth. HVAC control systems are frequently used due to the rising demand for improved air quality, performance, and environmental concerns. The HVAC controls market is also expected to grow significantly due to the rising demand for remote access control systems owing to their cost-effectiveness, energy efficiency, and operational efficiency. Further, several technological developments, including the Internet of Things (IoT), and the incorporation of smart devices with motion sensors are boosting 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, developing green technology due to the rising environmental concerns, implementation of several government programs to encourage energy-efficient construction, and growing spending power are a few key factors fueling the HVAC controls market growth.

HVAC Controls Market Overview:

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. 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 widely used control systems. HVAC controls are frequently employed in various business sectors, including hospitality, corporations, retail, and residential.

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HVAC Controls Market: Strategic Insights

Market Size Value inUS$ 9.73 billion in 2022
Market Size Value byUS$ 41.32 billion by 2030
Growth rateCAGR of 19.8% from 2022 to 2030
Forecast Period2022-2030
Base Year2022
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HVAC Controls Market Driver:

Rise in Construction Sector Drives HVAC Controls Market Growth

The construction sector is expanding dramatically in emerging countries of APAC, the MEA, and SAM due to the significant investments in construction of commercial, infrastructural, and institutional projects such as railway stations, bus terminals, airports, and educational institutions. In November 2020, Davis Center Ballroom had a premier conference and event destination at Burlington undergone a construction project to reconfigure the HVAC ductwork and replace the HVAC control systems. Also, the growth of the building industry is attributed to 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 providing assistance to domestic firms. To assist industrialization, governments of many countries launched initiatives 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 Association of Southeast Asian Nations (ASEAN), which accelerates the construction of industrial buildings. HVAC system is one of the essential systems in the construction process. Thus, expansion of construction activities propels the deployment of HVAC systems, which drives the HVAC controls market growth.

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HVAC Controls Market Segmental Analysis:

Based on system, the HVAC controls market is segmented into temperature control system, integrated control system, ventilation control system, and humidity control system. The temperature control system segment held the largest share of the HVAC controls market. To maintain a constant temperature in a dynamic environment, temperature control is necessary in various HVAC applications. Commercial buildings use ventilation systems and boilers or furnaces to provide heat during cold weather. Without a way to regulate the heat distributed throughout the building, temperatures could fluctuate wildly between hot and cold. This might be a serious problem for places such as scientific labs where maintaining a steady temperature is essential, in addition to making building personnel uncomfortable. Pulse width modulation (PWM) can be utilized by a micro-PLC to regulate the electrical power provided to an electrical heater in a furnace. PWM works under the assumption that the system is fed full power pulses with a variable width. Proportional, integral, derivative (PID) control can be used with Nano PLCs, such as Eaton's easyE4, to maintain the position of an airflow damper based on temperature feedback. Depending on whether the user is heating or cooling the room, more hot or cold air flows into the room the further the damper is opened. This will lead to the growth of the HVAC controls market during the forecast period

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HVAC Controls Market Regional Analysis:

The North America HVAC controls market size was valued at US$ 2,171.44 million in 2022 and is projected to reach US$ 8,613.05 million by 2030; it is expected to register a CAGR of 18.8% during 2023–2030. The North America HVAC controls market is segmented into the US, Canada, and Mexico. The US held the largest share of the North American HVAC controls market in 2022. Global warming and the resulting harsh climatic conditions in the US are expected to increase the demand for HVAC control systems in the coming years. The growing real estate sector and desire for energy-efficient equipment will also propel the demand for HVAC systems in the US in the future. The American government provides incentives to encourage energy efficiency or the use of renewable resources. Rules of the US government to monitor HVAC control system performance in response to growing concerns about global warming will be a key factor boosting the demand for HVAC control systems in the country.

HVAC Controls Market Key Player Analysis:

The HVAC controls market consists of players such as Carrier, Daikin, Delta Controls, Distech Control Inc., Emerson Electric Co., Honeywell International Inc, Johnson Controls, Lennox International Inc, Siemens, and Schneider Electric.

Recent Developments: 

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the HVAC controls market. A few recent key HVAC controls market developments are listed below:

  • In March 2022, Automated Logic, a subsidiary of Carrier Global corporation, announced the addition of VAV controllers’ model OF342 and OR141 to its existing OptiFlex, digital building controls line. These controllers are effective in air quality control and zone-level temperature applications.
  • In May 2022, Daikin announced its recent investment in Wlab Ltd., a startup company providing sensors for airborne allergies detection. This investment would accelerate the growth of Daikin in AC business solutions.
  • In January 2022, Distech Controls, an Acuity Brands Inc’s brand, entered into a strategic agreement with HTS Engineering, a HVAC solutions provider in North America. HTS being largest fullservice HVAC distributor in North America with it Distech will provide unified building automation solution.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Component, Installation Type, System, and End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

Frequently Asked Questions

What is the incremental growth of the Global HVAC controls market during the forecast period?

The incremental growth expected to be recorded for the Global HVAC controls market during the forecast period is US$ 31.58 billion.

Which are the key players holding the major market share of the Global HVAC controls market?

The key players holding majority shares in the Global HVAC controls market are Carrier, Daikin, Delta Controls, Distech Control Inc., and Emerson Electric Co.

What will be the market size for the Global HVAC controls market by 2030?

The Global HVAC controls market is expected to reach US$ 41.32 billion by 2030.

What are the future trends of the Global HVAC controls market?

Advancement in green technology, is anticipated to play a significant role in the Global HVAC controls market in the coming years.

What are the driving factors impacting the Global HVAC controls market?

Growth in construction sector and implementation of smart, connected, and energy efficient IoT-enabled HVAC systems, are the major factors that propel the Global HVAC controls market.

What is the estimated market size for the Global HVAC controls market in 2022?

The Global HVAC controls market was estimated to be US$ 9.73 billion in 2022 and is expected, to grow at a CAGR of 19.8% during the forecast period 2022 - 2030.

The List of Companies - HVAC Controls Market

    1. Acuity brands inc.
    2. Lennox international Inc.
    3. Johnson Controls
    4. Honeywell
    5. Siemens
    6. Schneider Electric
    7. Emerson
    8. Carrier
    9. Daikin
    10. Delta Controls

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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