The HVAC (Heating, Ventilation, and Air Conditioning) controls market is poised for significant growth in the coming years, driven by the surging demand for smart building automation in homes and offices, as well as the growing adoption of cloud computing in HVAC systems. According to the latest market research, the global HVAC controls market is expected to reach $26.7 billion by 2027, growing at a CAGR of 9.2% from 2022 to 2027. The HVAC controls market can be segmented by component, system, implementation type, application, and region:
Components
- Sensors: These are the most critical components, used to measure environmental variables like temperature and humidity. Temperature sensors are the most commonly used.
- Controllers: This segment includes thermostats, VAV controllers, and FCU controllers, and is expected to register a CAGR of over 11% from 2019 to 2025.
- Controlled Equipment: This includes control valves, heating and cooling coils, dampers, actuators, pumps, and fans that support the functioning of HVAC systems.
- Temperature Control Systems: This segment is expected to hold the largest market share from 2022 to 2027, as these systems aid in energy efficiency and long-term cost savings.
- Ventilation Control Systems
- Humidity Control Systems
- Integrated Control Systems
Implementation Type
- New Construction: This segment is expected to dominate the market, driven by the growing construction activities globally.
- Retrofit: Increasing demand for upgrading existing HVAC systems with more efficient controls is also driving this segment.
Application
- Residential: This segment held the largest market share in 2018 and is expected to continue its dominance, driven by the increasing HVAC demand in developing economies.
- Commercial: This segment is also witnessing significant growth due to the rising need for energy-efficient HVAC systems in commercial buildings.
- Industrial: The industrial segment is also expected to contribute to the market growth.
Regional Analysis
- Asia Pacific: This region is expected to be the largest and fastest-growing market, driven by rapid urbanization, construction activities, and government initiatives promoting energy efficiency.
- North America and Europe: These regions are also expected to witness substantial growth, owing to the replacement of old HVAC control systems with more advanced and efficient ones.
Key market drivers include the surging demand for smart building
automation, growing adoption of cloud computing in HVAC, and government
initiatives promoting energy-efficient HVAC systems. Manufacturers are
also focusing on developing IoT-enabled smart HVAC controls to support
connectivity and home automation.
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