HVAC Control Systems Market Analysis, Size, Growth, Share, Trend, Outlook & Forecast to 2025
The global HVAC control systems market size is expected to reach USD 29.2 billion by 2025, expanding at a CAGR of 12.2%, according to a study conducted by Grand View Research, Inc. The rise in demand for HVAC equipment and advent of smart controllers are some factors anticipated to positively affect market growth. The growing adoption of building management systems is also expected to impel market growth. Advancements in the field of sensors is anticipated to offer opportunities for market growth over the forecast years. Numerous sensors including temperature and humidity form a core component of any HVAC system. These sensors gather real-time data and help smart functioning of the equipment by analyzing surrounding changes. Technological upgrades in systems that improve energy efficiency of HVAC equipment are expected to further fuel the HVAC control systems market. For instance, Siemens provides Synco 700, a primary controller equipped with KNX communication standard. KNX helps in communicating energy related information and thus saves energy wasted in unnecessary heating/cooling. Such advancements are expected to increase adoption of energy efficient systems for controlling heating, ventilation, and air conditioning over the forecast period.
The Asia Pacific market held largest market share in 2018 and is anticipated to continue its dominance over the forecast period. This is attributed to rising demand for heating, ventilation, and air conditioning in emerging economies such as India and China. In addition, rising disposable income among consumers will drive the regional market. The North America market is likely to exhibit more than 10% CAGR over the forecast period. This is attributed to rising adoption of smart homes in the region. In addition, presence of key market players in the region such as Nest and Honeywell will drive the market in this region. Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/hvac-controlsystems-market HVAC Control Systems Market Report Highlights
The global HVAC control systems market is gaining traction owing to increasing popularity of building management systems that provide ease of controlling all the connected equipment in a building
The sensors segment accounted for a market share of over 30% in 2018 owing to the use of multiple sensors in HVAC controllers. These sensors are essential for measuring the environment condition and sending signals to the controller
The integrated control segment is anticipated to grow at a substantial CAGR of more than 12.0% from 2019 to 2025 owing to ease and comfort it offers by combining functions of multiple controllers in a single unit
The commercial segment is anticipated to witness healthy growth due to increasing demand across the hospitality sector
Climate change and increasing awareness regarding energy conservation are the primary growth drivers for the Asia Pacific market.
HVAC Control Systems Market Segmentation Grand View Research has segmented the global HVAC control systems market based on component, system, application, and region: HVAC Control Systems Component Outlook (Revenue, USD Million, 2015 - 2025) Sensors
Controllers
Controlled Devices
HVAC Control Systems Outlook (Revenue, USD Million, 2015 - 2025) Temperature & Humidity Control
Ventilation Control
Integrated Control
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HVAC Control Systems Application Outlook (Revenue, USD Million, 2015 - 2025) Residential
Commercial
Industrial
HVAC Control Systems Regional Outlook (Revenue, USD Million, 2015 - 2025) North America
o
U.S.
o
Canada
Europe o
U.K.
o
Germany
o
France
Asia Pacific o
China
o
India
o
Japan
Latin America o
Brazil
o
Mexico
Middle East & Africa
Table of Contents Chapter 1. Methodology and Scope 1.1. Research Methodology 1.2. Research Scope and Assumptions 1.3. List of Data Sources Chapter 2. Executive Summary 2.1. HVAC control systems- Industry Snapshot & Key Buying Criteria, 2015 - 2025 Chapter 3. HVAC control systems Industry Outlook 3.1. Market Segmentation 3.2. Market Size and Growth Prospects, 2015 - 2025 3.3. Value Chain Analysis 3.4. Market Dynamics 3.4.1. Market driver analysis 3.4.2. Market restraint/challenge analysis 3.4.3. Market opportunity analysis 3.5. Key Opportunities Prioritized 3.6. Industry Analysis - Porter's 3.6.1. Supplier Power 3.6.2. Buyer Power 3.6.3. Substitution Threat 3.6.4. Threat from new entrant 3.7. PEST Analysis 3.7.1. Political Landscape 3.7.2. Environmental Landscape 3.7.3. Social Landscape
3.7.4. Technology Landscape 3.8. Market Lineage outlook 3.8.1. Parent market outlook Continue……….. About Grand View Research, Inc.: Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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