HVAC Controls Market Growth Reports & Analysis by 2030

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.

HVAC Controls Market Analysis

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 Controls Market Industry Overview

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.

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HVAC Controls Market: Strategic Insights

HVAC Controls Market

• 
  CAGR (2023 - 2031)

  19.8%
• Market Size 2022
  US$ 9.73 Billion
• Market Size 2030
  US$ 41.32 Billion

Market Dynamics

GROWTH DRIVERS

• Growing Focus on Product Development & Strategic Initiatives and technological advancements

FUTURE TRENDS

• Implementation of IoT and cloud computing in HVAC systems

OPPORTUNITIES

• Increasing Demand for IoT Based HVAC System

Key Players

• Carrier
• Daikin
• Delta Controls
• Distech Control Inc
• Emerson Electric Co
• Honeywell International Inc
• Johnson Controls
• Lennox International Inc
• Siemens
• Schneider Electric

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Component

• Hardware and Software & Services

Installation Type

• New Installation and Retrofit

System

• Temperature Control System
• Humidity Control System
• Ventilation Control System
• Integrated Control System

End User

• Residential
• Commercial
• Industrial

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HVAC Controls Market Driver and Opportunities

Growing Focus on Product Development and Strategic Initiatives to Favor Market Growth

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.

Increasing Demand for IoT-Based HVAC System

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.

HVAC Controls Market Report Segmentation Analysis

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 component, the market is divided into hardware and software & services.
• Based on installation type, the market is divided into new installation and retrofit.
• Based on the system, the market is divided into temperature control system, humidity control system, ventilation control system, and integrated control system.
• Based on end user, the market is divided into residential, commercial, and industrial.

HVAC Controls

Market Share Analysis By Geography

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.

HVAC Controls Market Report Scope

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HVAC Controls Market News and Recent Developments

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:

• Daikin Cloud Plus takes HVAC system control for commercial buildings to the next level. Daikin has unveiled Daikin Cloud Plus, a powerful new tool that allows facility managers, technicians, building owners, and energy consultants to remotely control and optimize HVAC systems for occupant comfort and environmental performance throughout a building's lifecycle. (Source: Daikin, Press Release, April 2024)

HVAC Controls Market Report Coverage & Deliverables

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-

• HVAC Controls Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• HVAC Controls Market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• HVAC Controls Market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the HVAC Controls Market
• Detailed company profiles.