The global HVAC controls market size was US$ 15.1 billion in 2021. The global HVAC control market is forecast to grow to US$ 31.1 billion by 2030, registering a compound annual growth rate (CAGR) of 8.6% during the forecast period from 2022 to 2030.
HVAC control is a control system that is equipped with a sensing device. The sensing device helps in comparing the temperature with a target state. In addition, it also performs other functions like regulating the functioning of air conditioning and heating systems.
COVID-19 Impact Analysis
The global HVAC controls market went through significant challenges due to the COVID-19 pandemic. Due to the pandemic, the global supply chain of HVAC equipment was highly disrupted. Shortage of workforce, import-export restrictions, trade restrictions, and lockdown regulations were the few of the many factors limiting the HVAC controls market growth.
Factors Influencing the Market
- The growing demand for remote control systems is driving the growth of the market. In addition, the rising number of R&D activities aiming to develop innovative HVAC control systems will further boost the market growth during the forecast period.
- Infrastructure development leading to the growth of industrial, residential, and commercial buildings will offer ample growth opportunities for the global HVAC controls market. Furthermore, the growing population and increasing disposable income will augment the growth of the HVAC control market.
- The rising initiatives by the government bodies intending to increase investment in the construction sector will benefit the global HVAC controls market. In addition, the growing modernization of workplaces and development of IoT technology in HVAC systems will surge the expansion of the HVAC control market.
- The benefits of HVAC systems, such as energy efficiency, enhanced results, and lifespan, will drive the overall market growth.
- The high installation cost associated with the HVAC controls system may hamper the growth of the market.
- The deployment of HVAC control equipment in residential spaces to improve air quality is one of the important trends in the HVAC control market. Moreover, growing climate change and unstable climatic circumstances will encourage the adoption of energy-saving equipment in both residential and commercial areas.
- The advancements in the HVAC controls market will benefit the global market during the study period. Johnson Controls introduced a novel solution that offers efficient and environmentally sustainable home heating and cooling with Ultimate Home Comfort.
Regional Analysis
Asia-Pacific HVAC controls market is expected to grow rapidly due to the increasing HVAC control demand in the residential sector. In addition, the rising population and growing energy consumption will lead the market towards considerable growth. Furthermore, government bodies are also promoting energy consumption practices that will fuel the regional market growth.
The rapid development of new residential and commercial buildings will accelerate the expansion of HVAC controls. Furthermore, the rise of smart city initiatives and favorable government incentives for HVAC manufacturers will propel the market even further.
Competitors in the Market
- Daikin Industries, Ltd.
- Johnson Controls
- Emerson Electric Co
- Honeywell International Inc.
- Schneider Electric
- Siemens
- Trane Technologies plc
- Carrier
- Acuity Brands Lighting, Inc.
- Lennox International Inc.
- Other prominent players
Market Segmentation
The global HVAC controls market segmentation focuses on System, Component, Implementation Type, Application, and Region.
By System
- Temperature Control Systems
- Ventilation Control Systems
- Humidity Control Systems
- Integrated Control Systems
By Component
- Sensors
- Controllers and Controlled Devices
By Implementation Type
By Application
- Residential
- Commercial
- Industrial
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
