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HVAC Controls Market - Forecasts from 2022 to 2027

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  • 125 Pages
  • July 2022
  • Region: Global
  • Knowledge Sourcing Intelligence LLP
  • ID: 5649153
The global HVAC controls market is projected to grow at a CAGR of 8.77% during the forecast period to reach US$20.354 billion by 2027, from US$11.299 billion in 2020. Heating, ventilation, and air conditioning (HVAC) functions by using multiple technologies to monitor and control the humidity, temperature, and purity of the air in any enclosed environment. These systems aim to provide an acceptable quality of indoor air and optimal thermal comfort. HVAC equipment works on the principles of sub-disciplines of mechanical engineering based on principles of heat transfer, fluid mechanics, and thermodynamics. These systems necessitate the need for an adequate control system to monitor and regulate the air conditioning and heating systems. To put it simply, HVAC controls are comprised of a set of devices that moderate the HVAC equipment. These control systems differ based on their utility areas, such as a typical residential application or a large-scale production facility. In both residential and commercial segments alike, the increasing usage of remote technologies like smart homes and IIoTs is expected to add impetus to the market growth. The global HVAC control market has segmented the type of system, component, end-user industry, and geography.

The rapid adoption of Industry 4.0 and automation is expected to propel the growth of the market onward.

The emergence of Industry 4.0 and the growing trend of automation are adding impetus to the growth of the HVAC control market. HVACs improve energy efficiency while avoiding waste consumption, provide enhanced output, and have a longer life span. Thus, HVACs are extensively being adopted in several industries, including residential, industrial, commercial, and others. The industrial segments, for instance, the mechanical systems and machinery, are complex, owing to the large size of facilities. Thus, there is a need for the operational processes to be streamlined effectively, without wastage of energy. Consolidating various systems, including lighting, security, and fire alarm systems. Consolidating these into a single platform proves highly advantageous when enveloping a smart building. The growing government initiatives and demand to conserve energy efficiency while lowering the impact on the environment are two of the factors attributing to the growth. India’s Cooling Action Plan and New York Power Authority’s Energy Efficiency Programs are the best examples of the above statement. India’s Cooling Action Plan aims to provide sustainable thermal and cooling comfort for society while securing socio-economic and environmental benefits. By 2038, the ICAP aims to reduce cooling demand across multiple sectors by 20-25 percent. According to the plan, research and advancements in energy efficiency of HVAC systems are one of the segments. And one of the most critical levers is retrofitting inefficient and old HVAC systems with new and efficient ones. At the same time, New York’s energy efficiency program objectives are to support the city’s energy goals and aims to finance over $1.5 billion for the same across New York while expanding the programme to $300 million annually. Heat-pump replacements, updated controls, heat pumps, and HVAC upgrades to reduce the consumption of natural resources are a few of the solutions for energy efficiency measures.

However, the lack of awareness among the end-user markets, fluctuating prices of raw materials, and the complexity associated with the upgrade of current HVAC systems are restraining the market. Upgrading the current HVAC devices, for instance, requires an extensive study of the present devices, designing of the new systems, and implementation that consumes both time and money.

The strategic developments deployed by the major key players to increase their brand presence are expected to boost the market’s growth further.

To meet the increasing demands of HVAC systems, many manufacturers are gearing up to provide better and more efficient products. For instance, in May 2020, Zenatix, a part of Hero Electronix, announced the launch of its new product, Zenshield. This new offering is a COVID-ready HVAC control system designed in compliance with the regulations of the Indian Society of Heating, Refrigerating, and Air-Conditioner Engineers. Many other manufacturers are deploying similar strategic developments. Rhoads Energy, for instance, in January 2022, announced the launch of its a new HVAC service group - Cool Crew. This new team is comprised of 50 service technicians from the firm and its affiliated companies, including Reilly & Sons, Mack Energy, Boyertown Oil & Propane, and E.G. Smith Inc. This strategic move enabled the HVAC provider to centralize its operation and expand its services across South-eastern Pennsylvania. Furthermore, in October 2021, a San Francisco-based private equity firm acquired Southern HVAC, a residential HVAC products and services provider, from MSouth Equity Partners. Through this acquisition, the companies aim to expand their presence as leading residential service providers in Texas.

Covid-19 Insights

The outbreak of COVID-19 has negatively affected the HVAC control market. Several manufacturing industries were forced to close temporarily due to the mandated lockdowns. Furthermore, the surge in active cases and social distancing measures reduced the staffing, thereby reducing productivity. However, the increased penetration of automation post-covid to monitor the systems remotely is expected to positively affect the market growth in the projected period.

Market Segmentation:

By System

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

By Component

  • Sensors
  • Heating and Cooling Coils
  • Controllers

By End-User

  • Residential
  • Industrial
  • Commercial

By Geography

  • Americas
  • USA
  • Canada
  • Mexico
  • Europe, Middle East and Africa
  • UK
  • Germany
  • France
  • Saudi Arabia
  • UAE
  • Asia-Pacific
  • China
  • India
  • Japan
Frequently Asked Questions about the HVAC Controls Market

What is the estimated value of the HVAC Controls Market?

The HVAC Controls Market was estimated to be valued at $11.3 billion in 2020.

What is the growth rate of the HVAC Controls Market?

The growth rate of the HVAC Controls Market is 8.7%, with an estimated value of $20.35 billion by 2027.

What is the forecasted size of the HVAC Controls Market?

The HVAC Controls Market is estimated to be worth $20.35 billion by 2027.

Who are the key companies in the HVAC Controls Market?

Key companies in the HVAC Controls Market include Honeywell International, Inc., Emerson Electric, Siemens AG, Delta Controls, Johnson Controls, Mitsubishi Electric, Ingersoll Rand, Schneider Electric, Azbil and Lennox International.

Table of Contents

1. Introduction2. Research Methodology3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. Threat of New Entrants
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. HVAC Controls Market Analysis, By System
5.1. Introduction
5.2. Humidity Control
5.3. Temperature Control
5.4. Ventilation Control
5.5. Integrated Control
6. HVAC Controls Market Analysis, By Component
6.1. Introduction
6.2. Sensors
6.3. Heating and Cooling Coils
6.4. Controllers
6.5. Others
7. HVAC Controls Market Analysis, By End User
7.1. Introduction
7.2. Residential
7.3. Industrial
7.4. Commercial
7.5. Others
8. HVAC Controls Market Analysis, Geography
8.1. Introduction
8.2. Americas
8.2.1. USA
8.2.2. Canada
8.2.3. Mexico
8.2.4. Others
8.3. Europe, Middle East and Africa
8.3.1. UK
8.3.2. Germany
8.3.3. France
8.3.4. Saudi Arabia
8.3.5. UAE
8.3.6. Others
8.4. Asia-Pacific
8.4.1. China
8.4.2. India
8.4.3. Japan
8.4.4. Others
9.1. Vendor Matrix Analysis
9.2. Recent Deals
9.3. Strategies of Key Players
10.1. Honeywell International, Inc.
10.2. Emerson Electric
10.3. Siemens AG
10.4. Delta Controls
10.5. Johnson Controls
10.6. Mitsubishi Electric
10.7. Ingersoll Rand
10.8. Schneider Electric
10.9. Azbil
10.10. Lennox International

Companies Mentioned

  • Honeywell International, Inc.
  • Emerson Electric
  • Siemens AG
  • Delta Controls
  • Johnson Controls
  • Mitsubishi Electric
  • Ingersoll Rand
  • Schneider Electric
  • Azbil
  • Lennox International