HVAC Control Market by System (Temperature Control Systems, Ventilation Control Systems, Humidity Control Systems, and Integrated Control Systems), Implementation Type (New Construction and Retrofit), and End User (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2021-2030
Global HVAC control market size was valued at $14,252.4 million in 2020, and is projected to reach $24,575.3 million by 2030, registering a CAGR of 5.5% from 2021 to 2030.
According to a new report published by Allied Market Research, titled, The HVAC control Market are temperature control systems, ventilation control systems, humidity control systems, and integrated control systems. Among these, the temperature control system segment accounts for the largest market size by value in 2020, owing to increase in demand from various industries such as construction and manufacturing. The market is analyzed with respect to different applications in industrial verticals such as industrial, commercial, and residential. The market is mainly driven by global economic growth and development in residential, commercial, & industrial sectors. However, fluctuation in raw material prices limit of the HVAC control market growth.
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In 2020, Asia-Pacific dominated the global HVAC control market, in terms of revenue, accounting for around 49.6% share of the global HVAC control industry, followed by Europe and North America. Moreover, the market in Asia-Pacific is growing with high CAGR, owing to urbanization and economic development in developing countries.
Moreover, favorable government policies to promote industries such as automotive and food & beverages across the globe drives demand for the HVAC control market. In addition, increase in infrastructure spending and growth in demand for cooling and heating in the residential and commercial sector propels demand for painting tools such as HVAC controls.
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Key Companies:
The key players profiled in the HVAC Control market report include Carrier Global Corporation, Daikin Industries, Danfoss, Delta Controls, Emerson Electric, Honeywell International Inc, Johnson Controls, LG Electronics, Schneider Electric, and Siemens.
Key Findings Of The Study:
• The report provides an extensive analysis of the current and emerging HVAC control market trends and dynamics.
• Depending on system, the temperature control system segment dominated the HVAC control market, in terms of revenue in 2020 and the integrated
control system segment is projected to grow at a significant CAGR during the forecast period.
• By end user, the commercial segment registered highest revenue in 2020.
• Asia-Pacific is projected to register highest growth rate in the coming years.
• Depending on implementation type, the new construction segment dominated the HVAC control market, in terms of revenue in 2020, and retrofit
segment is projected to grow at a significant CAGR during the forecast period.
• The key players within the HVAC control market are profiled in this report, and their strategies are analyzed thoroughly, which help understand
competitive outlook of the HVAC control industry.
• The report provides an extensive analysis of the current trends and emerging opportunities of the market.
• In-depth HVAC control market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.
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