The HVAC Controls market is projected to grow from US$ 9.73 billion in 2022 to US$ 41.32 billion by 2030; it is expected to expand at a CAGR of 19.8% from 2022 to 2030. Implementation of IoT and Cloud computing in HVAC systems is expected to be a key trend in the market.
Cloud-based HVAC control systems are quickly becoming the future of efficient and intelligent building management. These technologies, which leverage the power of the Internet and the Internet of Things (IoT), offer a new era of improved performance, lower energy usage, and unrivaled comfort. Cloud-based solutions capture real-time data on temperature, humidity, and occupancy rates. Powerful algorithms then analyze this data to improve HVAC performance. By learning usage patterns and anticipating demands, the system can automatically modify settings to provide comfort while reducing energy consumption. Thus, demand for cloud computing in HVAC systems is expected to grow during the forecast period.
HVAC stands for Heating, Ventilation, and Air Conditioning. It is a system for controlling the temperature and humidity of a space by moving air both indoors and outdoors. HVAC controllers are designed to cater to shifting environmental needs and handle even the worst-case scenarios. Several factors that influence HVAC control usage are humidity fluctuations, building occupancy, solar heat loads, and new equipment, among others. These HVAC controls are programmable, allowing for customized applications. Analog inputs in HVAC controls assess temperature, humidity, or pressure, while digital inputs control airflow based on settings like hot or cold.
Increasing focus on product development and strategic initiatives are expected to drive market growth. For instance, In March 2022, Automated Logic, a subsidiary of Carrier Global Corporation, announced the addition of VAV controllers’ models OF342 and OR141 to its existing OptiFlex digital building controls line. These controllers are effective in air quality control and zone-level temperature applications. Further, in May 2022, Daikin announced its recent investment in Wlab Ltd., a startup company providing sensors for airborne allergy detection. This investment would accelerate the growth of Daikin in AC business solutions.
The increasing need for energy-efficient HVAC systems, rising replacement demand for HVAC systems, and accelerating infrastructure-based advancements are likely to fuel industry growth in the future. HVAC manufacturers are working hard to supply consumers with smart HVAC systems and grow their market share. In any commercial or residential facility, lights and HVAC systems consume the most energy. Implementing IoT in these applications and enabling machine-to-machine (M2M) connectivity is anticipated to result in cost savings, resource conservation, predictive maintenance, comfort control, and improved building performance. Thus, demand for IoT-enabled HVAC control systems is expected to grow during the forecast period.
The key segments that contributed to the derivation of the HVAC Controls market analysis are coverage by operation, product type, substrate type, and end-use.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.
The North American HVAC controls industry has seen considerable expansion, driven by the need for interoperability, connectivity, network integration, data analysis, and system integration. Cloud-based HVAC systems connect easily with other smart building technologies like lighting and security. This integrated ecosystem enables more holistic building management, improving energy efficiency and creating a fully intelligent living or working environment. All these factors are expected to boost the growth of the HVAC controls market in North America during the forecast period.
The regional trends and factors influencing the HVAC Controls Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses HVAC Controls Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 9.73 Billion |
| Market Size by 2030 | US$ 41.32 Billion |
| Global CAGR (2023 - 2031) | 19.8% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The HVAC Controls Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the HVAC Controls Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The HVAC Controls market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the HVAC Controls Market are listed below:
The HVAC Controls market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "HVAC Controls Market Size and Forecast (2020–2030)" provides a detailed analysis of the market covering below areas-
The List of Companies - HVAC Controls Market
The report can be delivered in PDF/PPT format; we can also share an Excel dataset based on the request.
Carrier, Daikin, Delta Controls, Distech Control Inc., Emerson Electric Co., Honeywell International Inc., Johnson Controls, Lennox International Inc., Siemens, and Schneider Electric are the major market players.
The Global HVAC controls market was estimated to be US$ 9.73 billion in 2022 and is expected, to grow at a CAGR of 19.8% during the forecast period 2022 - 2030.
The global HVAC Controls market was estimated to grow at a CAGR of 19.8% during 2022 - 2030.
Implementation of IoT and cloud computing in HVAC systems are the major trends in the market.
Growing focus on product development, strategic initiatives and technological advancements are the major factors that drive the global HVAC Controls market.