HVAC Controls Market Size Trends Forecast Strategies

The HVAC controls market report share is estimated to be USD 17.2 billion in 2022 and is projected to reach USD 26.7 billion by 2027; it is expected to grow at a CAGR of 9.2% from 2022 to 2027.

The major factors driving the growth of the market include the consolidation trend of smart homes, the boom in the construction sector, the emergence of IoT-enabled HVAC systems, and the need to achieve energy efficiency in buildings.

The HVAC controls companies is dominated the market by Honeywell International Inc. (US), Johnson Controls (US), Siemens (Germany), Carrier (US), and Emerson Electric Co. (US).

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Market for HVAC control sensors to hold the highest CAGR during the forecast period

HVAC control sensors are expected to grow at the highest CAGR during the forecast period. Amogn the different sensors used, temperature and humidity sensors are the most widely used sensors in an HVAC control system. The rapid technological growth in IoT and Ai devices have propelled the market for smart sensors used in HVAC control systems. Moreover, the integration of wireless sensors into HVAC controls ensures the optimum utilization of the space for setting up an entire system. Reduced installation cost, miniaturization of sensor nodes, and better connectivity than wired sensors are the major factors that accelerate the demand for wireless sensors.

HVAC controls market for temperature control systems to hold the highest market share from 2022 to 2027

Temperature control systems automatically control the temperature of a zone or an area. They sense and measure the temperature of an indoor area and accordingly to the temperature set as input by the user. They heat or cool the area to reach the set temperature levels. These systems use various HVAC equipment, such as air-conditioners, space heaters, and coolers, to change the area's temperature. A temperature control system consists of sensors, controllers, and HVAC equipment. The thermostat is a prime example of a temperature control system. In 2016, only 11% of US households owned a smart thermostat. By January 2022, the number reached 24% and is still growing. Energy efficiency and long-term cost savings are usually among the top reasons homeowners are demanding smart thermostats.

HVAC controls market in Asia Pacific to hold the highest market share during the forecast period

Asia Pacific held the largest share of the HVAC controls market in 2021; it is expected to register the highest growth rate from 2022 to 2027. Asia Pacific has been a major contributor to the growth of the overall market as this region has a huge market for the construction industry, which is the primary end-user of HVAC controls. The growing population in developing countries of this region, along with environmental awareness, is supporting the adoption of HVAC controls. The rise in the adoption of green buildings and government initiatives to regulate energy-efficient practices across the commercial sector are also aiding the adoption of HVAC controls industry in the region.