Global HVAC Control Market to Reach US$ 25.6 Billion by 2032, Catalyzed by Rapid Growth of Construction Sector

February 15, 2022 | Construction and Manufacturing

The latest report by IMARC Group, titled "HVAC Control Market Report by Component (Sensors, Controllers and Controlled Devices), Implementation Type (New Construction, Retrofit), System (Temperature Control Systems, Ventilation Control Systems, Humidity Control Systems, Integrated Control Systems), End User (Residential, Commercial, Industrial), and Region 2024-2032," finds that the global HVAC control market size reached US$ 16.7 Billion in 2023. HVAC control comprises various devices and tools that are used to manage the operations of heating, ventilation, and air conditioning (HVAC) systems. It includes sensors, control valves, controlled devices, energy sources, and other control systems. It works by monitoring the temperature of the area through the sensing devices and comparing it with the target temperature to initiate a suitable action via the control systems. As a result, HVAC control units are widely installed in commercial and residential buildings to control the HVAC performance, provide a comfortable environment, and maintain an optimal temperature in enclosed spaces.

Global HVAC Control Market Trends:

The increasing construction of residential, commercial, and industrial buildings across the globe represents the primary factor driving the market growth. Besides this, the escalating demand for enhanced indoor air quality and the growing need for energy-efficient building automation systems are other major growth-inducing factors. Additionally, governments of various countries are promoting the use of energy-saving equipment in residential and commercial sectors to create a green, clean, and sustainable environment. Along with this, the widespread adoption of HVAC systems due to the rising temperatures and unpredictable weather conditions has escalated the demand for HVAC control units. Furthermore, the leading players are making heavy investments to launch innovative and smart controls, such as the Internet of Things (IoT)-enabled HVAC control systems to support home automation and connectivity. Other factors, including the development of green technology, growing awareness regarding energy management, rising environmental consciousness, rapid industrialization, and technological advancements, are also creating a favorable market outlook. Looking forward, the market is expected to reach US$ 25.6 Billion by 2032, expanding at a CAGR of 4.8% during the forecast period (2024-2032).

Market Summary:

Based on the component, the market has been bifurcated into sensors, and controllers and controlled devices.
On the basis of the implementation type, the market has been classified as new construction and retrofit.
Based on the system, the market has been divided into temperature, ventilation, humidity, and integrated control systems.
The market has been segregated based on the end user into residential, commercial, and industrial.
Region-wise, the market has been segmented into North America (Canada and the United States), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has also been examined, with some of the key players being Azbil Corporation, Carrier Global Corporation, Computrols Inc., Daikin Industries Ltd, Danfoss, Delta Electronics Inc., Emerson Electric Co., Honeywell International Inc., Johnson Controls, Inc., KMC Controls, Inc., Schneider Electric SE, and Siemens AG.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Component, Implementation Type, System, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Azbil Corporation, Carrier Global Corporation, Computrols Inc., Daikin Industries Ltd, Danfoss, Delta Electronics Inc., Emerson Electric Co., Honeywell International Inc., Johnson Controls International, KMC Controls, Schneider Electric SE and Siemens AG
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global HVAC Control Market to Reach US$ 25.6 Billion by 2032, Catalyzed by Rapid Growth of Construction Sector

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