HVAC Controllers Market: Emerging Opportunities, Trends and Forecast Analysis (2022-2029)

HVAC Controllers market was valued at US$ 14.58 Bn. in 2021 and expected to grow at a CAGR of 9.8 % during the forecast period (2022-2029). Thanks to the growing trend temperature sensor segment use have boosted demand for Global HVAC Controllers Market.
HVAC Controllers Market Overview:
The HVAC stands for the heat ventilation air conditioning. These HVAC Controllers are used to monitor and control the HVAC systems used in residential buildings like houses and apartments and commercial buildings like offices and hospitals. These HVAC controllers are helping in monitoring environmental phenomena like humidity & temperature and control heating and cooling. These controllers work by receiving the signals from the thermostat sensors and sending output signals to HVAC chillers. The different control techniques used are limit control, linear control, and advanced control, etc. Growing technological advancements in HVAC controllers like computer programmable, web-enabled and earth net ready, etc. are driving the growth of the global HVAC controllers market. As a result, the global HVAC sensor market is expected to touch US$ 30.80 Bn. by 2029.



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HVAC Controllers Market Dynamics:
Increasing attraction toward the urban settlement of the people, rapid growth in urbanization, and industrialization are driving the growth of the global HVAC sensor market. According to the UNITED NATIONS “Department of Economic and Social Affairs,” more than 68 % of the world population is expected to live in urban areas by 2050. This leads to the rapid development in construction activities, as a result, more apartments and commercial buildings are being developed. According to the “Ministry of Housing and Urban Affairs” Government of India, the most urbanized cities in India are Delhi, Chandigarh, Goa, and Kerala. These cities can become a potential market for the HAVC controller.

Emerging technologies like artificial intelligence and the internet of things are adding an advantage to the market growth. Growing preference for remote access and motion control systems are boosting the global market. In December 2021, KIMCO CONTROLS, a global major in HVAC and automation firm launched a new digital presence in their HVAC services. In April 2021, Trane Technologies left the Johnson controls behind and is expecting steady revenue growth with high demand for HVAC products and services in the North American region. In December 2020, Z WAVE ALLIANCE announced that it is expecting to introduce its z wave technology-based equipment in 2022. Recently “AIRZONE” introduce its Aidoo inverter/VRF Z wave controller for tow way communication with the HVAC unit. These recent developments can add an advantage to the market growth.

Increasing government initiatives for environmental protection and the aim of reducing energy consumption are boosting the global HVAC control market. According to the UNITED STATES ENVIRONMENTAL PROTECTION AGENCY, HVAC systems are good in maintaining indoor air quality and helping in reducing energy consumption. Recently EMERSON, a global leader in the electric manufacturing company has developed “ZPSK6 two-stage modulated Copeland Scroll compressors” which are suitable for residential and light commercial applications, and provide new levels of cooling and heating efficiencies. These recent developments can boost the global market positively.

Some of the factors affecting the growth of the HVAC controller market are, lower awareness among the people about the benefits of the HVAC systems, non-availability of technical experts in handling this equipment and lack of support from the governments, and increasing tax rates, etc. Furthermore, high installation costs, security flaws, and complexity in up-gradation are hindering market growth.
HVAC Controllers Market Segment Analysis:
Based on Systems Segment, The HVAC Controllers market is sub-segmented into Ventilation Control Systems, Humidity Control Systems, and Temperature Control Systems. The temperature control system segment dominates the global market and it held a share of 51% in 2021. The HVAC system uses temperature controls to maintain the temperature in the dynamic environment. The most common approaches used in temperature control are on-off control, PID control, and PWM control. Due to the presence of these features like simple commissioning, inexpensive and stable control are widely used in residential and commercial buildings. The Canada and USA are considered a large users of HVAC temperature control systems because of their geographical location.

Based on Component, the HVAC Controllers market is sub-segmented into Sensors, Controllers, and Controlled Devices. The Controllers segment dominates the global market and was valued at US$ 423.03 Mn in 2020. To maintain the desired temperature of the household the thermostat is widely used in a large number of HVAC controllers. Development in the state of the art technology, high quality, and reliable operations these controllers are extensively used in supermarkets and food processing industries. The sensors took second place in the global market. They are used to monitor ambient conditions, liquids and gases used to heat or cool the surrounding environment like commercial buildings, food and beverage industries, etc.

Based on Application, the HVAC Controllers market is sub-segmented into Residential, Commercial, and Industrial. The residential segment dominates the global market and it held a share of 42 % in 2021. Growing demand for HVAC systems in developing countries and large growth in the real estate industry is creating the demand for market growth. The private market investor BLACKSTONE is expecting to invest 50 Bn in the Indian real estate sector by 2030. This may create a large opportunity for the HVAC control market. The industrial segment stands at second place in the global HVAC control market. these are extensively used in warehouses and cold storage firms. Due to their large size and complex mechanism are slowing their growth.
HVAC Controllers Market regional insights:
In 2021, Asia-Pacific held the largest share in the global HVAC controller market. Technological advancements and a preference for energy-efficient products are the major factors driving the market growth. The growing population in this region’s developing countries, combined with environmental consciousness, is encouraging the use of HVAC controls. The growing popularity of green buildings, as well as government initiatives to regulate energy-efficient practices in the commercial sector, are facilitating the adoption of HVAC controls in this region. Some of the factors affecting the market growth in this region are, the recent global pandemic that stopped the infrastructure and construction activities in this region and the presence of lower literacy rate among the sub-regions of Asia pacific slower the market growth due to lack of awareness.

North America is the second dominating region in the global HVAC Controllers market. The important factors driving growth in this region include supportive government plans, favorable laws, programmers, and associations. In 2020, The US government providing an incentive to the people who are adopting the HVAC systems under the “ComEd Energy Efficiency Program”. Increasing developments in IoT devices and the growing trend of smart apartments are booming the HVAC control market.

The objective of the report is to present a comprehensive analysis of the Global Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the HVAC Controllers market dynamics, structure by analyzing the market segments and projecting the HVAC Controllers market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global HVAC Controllers make the report investor’s guide.
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HVAC Controllers Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $  14.58 Bn.


Forecast Period 2022 to 2029 CAGR:
9.8%
Market Size in 2029:
US $  30.80 Bn.


 Segments Covered:
by  Systems
• Ventilation Control Systems
• Humidity Control Systems
• Temperature Control Systems


by component
• Sensors
• Controllers
• Controlled Devices


by Application
• Residential
• Commercial
• Industrial



HVAC Controllers Market, by Region
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• South America
HVAC Controllers Market Key Players
• Siemens
• Johnson Controls
• United Technologies
• Ingersoll-Rand
• Emerson Electric
• Lennox
• Distech Controls
• Delta Controls
• KMC Controls
• LG Electronics
• Daikin Industries
• Jackson Systems
• PECO
• Apollo America
• Schneider Electric
• Carrier Global Corporation
• Trane Technologies Plc
• OJ Electronics
• Azbil

Frequently Asked Questions:

1. Which region has the largest share in HVAC Controllers Market?
Ans: Asia-Pacific held the largest share in 2021.

2. What is the growth rate of the HVAC Controllers Market?
Ans: The HVAC Controllers Market is growing at a CAGR of 9.8 % during the forecasting period 2022-2029.

3. What segments are covered in HVAC Controllers Market?
Ans: HVAC Controllers Market is segmented into type, component, and end-user.

4. What is the study period of this market?
Ans: The HVAC Controllers Market is studied from 2021 to 2029.