HVAC Controls Market size worth $ 30.19 Billion, Globally, by 2028 at 10.04% CAGR: Verified Market Research®

- Rapid expansion in the construction sector, the emergence of IoT- enabled HVAC systems, the growing need for energy-efficient buildings and government initiatives to support the systems is expected to drive the HVAC Controls Market.

JERSEY CITY, N.J., Jan. 31, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "HVAC Controls Market" By System (Temperature Control System, Ventilation Control System), By Implementation Type (New Construction, Retrofit), By End User (Residential, Commercial, Industrial), and By Geography. According to Verified Market Research, the Global HVAC Controls Market size was valued at USD 14.06 Billion in 2020 and is projected to reach USD 30.19 Billion by 2028, growing at a CAGR of 10.04% from 2021 to 2028.

Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=153195

Browse in-depth TOC on "HVAC Controls Market"

202 - Pages
126 – Tables
37 – Figures

Global HVAC Controls Market Overview

Boom in the construction sector in the emerging countries is one of the major factors expected to boost demand for HVAC Controls. In countries such as India, the residential sector is expected to grow significantly, with the central government aiming to build 20 million affordable houses in urban areas across the country by 2022. States and cities in India are moving ahead with energy-efficient buildings owing to rapid urbanization. In recent years, due to rapid urbanization, the floor area of urban buildings has increased significantly, and the need for room cooling has increased.

Residential and commercial buildings in India already account for almost 30% of total electricity consumption and are projected to rise to 48% by 2042. Implementing the Energy Conservation Building Code (ECBC) across Indian cities is critical to saving energy, thus creating demand for HVAC Controls. Technological advancements, climate change, global warming, are some of the factors that have brought HVAC control systems in limelight. These factors have led to an increasing focus on energy-efficient solutions across various industries. In a study, it was found that the use of high-performance HVAC equipment can result in considerable energy, emissions, and cost savings (10%–40%).

According to the U.S. Energy Information Administration (EIA), in 2050, all commercial buildings in the US will use 6% less energy for heating. Increased adoption of HVAC sensors and controls will contribute to a 13% decline in energy consumption to heat offices across the United States. Thus, a lucrative opportunity lies ahead for HVAC control providers in the country. Due to the high cost of implementation of these systems, its presence is more in developed countries while it is less in developing countries. In addition, lack of expertise, budget, and awareness among contractors about the energy efficiency standards further hinders the market growth.

Key Developments

• In September 2020, Carrier launched the Weather Expert rooftop unit series, which features real variable-speed cooling capacity and control, including the variable-speed 48JC gas/electric and 50JC electric/electric versions that can cool down to 25% of typical capacity and up to 105 percent.
• In July 2020, Clivet SpA and Siemens collaborated to develop novel HVAC plant and building optimization solutions. Siemens is the developer of a software platform for building automation and IoT applications.
• In June 2020, Honeywell and SAP SE partnered to improve building performance using integrated cloud-based business and operational technology data, which delivers financial and operational analytics for corporate and real estate owners and operators.

Key Players

The major players in the market are Carrier Global Corporation, Daikin Industries, Danfoss, Delta Controls, Emerson Electric, Honeywell International Inc, Johnson Controls, LG Electronics, Schneider Electric, and Siemens.

Verified Market Research has segmented the Global HVAC Controls Market On the basis of System, Implementation Type, End User, and Geography.

• HVAC Controls Market, By System
• Temperature Control System
• Ventilation Control System
• Integrated Control System
• Humidity Control System
• HVAC Controls Market, By Implementation Type
• New Construction
• Retrofit
• HVAC Controls Market, By End User
• Residential
• Commercial
• Industrial
• HVAC Controls Market by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

Browse Related Reports:

Engineered Fluids Market By Type (Lubricants, Solvents, Heat Transfer Fluids), By End-User (Electronics and Semiconductors, Automotive, Oil and Gas), By Geography, Forecast, 2021-2028

Heating Ventilation And Air Conditioning (HVAC) Market By System (Heating, Ventilation, Humidity), By Component (Sensors, Control And Control Devices), By Revenue Source (HVAC Control), By End-Use (Residential, Commercial, Industrial), By Geography, Forecast, 2021-2028

Heat Pump Market By Type (Air To Air, Air To Water), By Rated Capacity (Up To 10 kW, 10–20 kW, 20–30 kW, Above 30 kW), By End-User (Residential, Commercial, Industrial), By Geography, Forecast, 2021-2028

Radiant Electric Floor Heating Market By Type (Electric, Hydronic), By Application (Commercial, Residential), By Geography, Forecast, 2021-2028

5 Leading Exhaust Heat Recovery Systems converting waste heat into electric energy

Visualize HVAC Controls Market using Verified Market Intelligence:-:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.

Contact Us
Mr. Edwyne Fernandes
Verified Market Research®
US: +1 (650)-781-4080
UK: +44 (753)-715-0008
APAC: +61 (488)-85-9400
US Toll Free: +1 (800)-782-1768
Email: sales@verifiedmarketresearch.com
Web: https://www.verifiedmarketresearch.com/
Follow Us: LinkedIn | Twitter 

Logo:  https://mma.prnewswire.com/media/1315349/Verified_Market_Research_Logo.jpg