HVAC Control Market Growth Trends Highlighted Until 2027

 According to a new report published by Allied Market Research, titled, “HVAC control market by system, implementation type, and end user: opportunity analysis and industry forecast, 2020–2027,” the global HVAC control market size was valued at $14.5 billion in 2019, and is projected to reach $19.9 billion by 2027, registering a CAGR of 5.7% from 2020 to 2027.

Commonly observed types of HVAC control 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 2019, 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 the HVAC control market growth.

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Leading Players:

The key players profiled in the report include Carrier Global Corporation, Daikin Industries, Danfoss, Delta Controls, Emerson Electric, Honeywell International Inc, Johnson Controls, LG Electronics, Schneider Electric, and Siemens.

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.

Furthermore, on the basis of end users, the commercial segment is anticipated to grow rapidly, with a CAGR of 6.6% during the HVAC control market forecast period, owing to rise in industrial projects and growth in initiatives for smart cites.

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For instance, in February 2019, the government of UAE has passed a tender of $2.7 billion for infrastructure projects under its public-private partnership (PPP) model. These infrastructure projects include residential and commercial structures. Similarly, in October 2019, the government of South Korea and Inter-American Development Bank (IDB) collaborated to invest around $1.3 billion in Latin American smart city projects.

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 2019 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 2019.

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 2019, 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 2020 and 2027.

About Us-

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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