Global HVAC Control Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Comprehensive HVAC systems provide advanced features and can be interconnected with existing Building Management System

• HVAC control refers to the regulation and management of heating, ventilation, and air conditioning systems in a building or facility. HVAC control systems are designed to maintain a comfortable and healthy indoor environment while maximizing energy efficiency and minimizing operating costs. These systems consist of various components such as sensors, thermostats, controllers, and actuators that work together to monitor and adjust temperature, humidity, air quality, and other environmental factors. HVAC control systems can be used in a variety of settings, including residential, commercial, and industrial buildings, as well as in vehicles and other transportation systems.
• IoT-enabled HVAC systems are increasingly being used in industries due to their high operating speed, better time management, efficient use of resources, less human effort, and higher productivity. HVAC systems are commonly used to control humidity and temperature in industries such as food, beverage, chemical, pharmaceutical, and petrochemical, and to improve storage and warehouse facilities by monitoring airflow and checking temperature and humidity. Industrial HVAC control systems are often used in places like food processing and product storage to control the temperature and humidity in a building. However, these systems are expensive to set up, require regular cleaning and maintenance, and installation requires specialized skills, which adds to the cost, driving the growth of the market.
• Moreover, air conditioning is one of the most expensive things that building managers must pay for. End users are turning to cloud computing in HVAC to control costs and ensure the system works well. Cloud computing is becoming increasingly popular in HVAC because it is scalable, flexible, and makes it easier to work together. Many HVAC companies are putting a lot of effort into developing cloud computing to keep their business going and get more customers worldwide. The system sends data to the cloud, where it is analyzed so that users can get real-time information through a control panel or other portable device, creating an opportunity for market growth.
• However, upgrading such systems is complex, cost-intensive, and time-consuming. For instance, if a user installs new HVAC equipment in the existing ductwork of the house, it can affect the installation costs, depending on its ductwork condition. It is not recommended to install a new central air conditioner if the ductwork has leaks or if the zone control systems are malfunctioning. Since repair work must be done before the new air conditioner can be installed, it will increase the installation costs, negatively affecting the market growth.

Market Segmentations

• The Global HVAC Control Market is segmented based on Components, Systems, Implementation Type, applications, and Geography.

Based on Components, the Market is segmented into Sensors, and Controllers & Controlled Devices

• The sensor segment is growing with the highest CAGR in the forecasting period due to its playing a crucial role in measuring environmental factors such as temperature and humidity and transmitting this data to controllers to maintain a regulated environment. While various sensors are utilized in HVAC control systems, temperature sensors are the most commonly used. Other sensors include humidity, occupancy, economizer, dew point, and CO2 sensors. This growth is further attributed to the rising use of thermostats worldwide. Thermostats are the primary controllers that regulate the desired temperature by turning on or off the heating/cooling devices.
• Based on the system, the market is segmented into Temperature Control Systems, Ventilation Control Systems, Humidity Control Systems, and Integrated Control Systems.
• In the forecasting period, the temperature control systems segment is growing with the highest CAGR due to various factors such as the growing global population and rising urbanization have led to an increase in demand for heating, ventilation, and air conditioning (HVAC) systems, which in turn has boosted the demand for temperature control systems. Additionally, the increasing need for energy-efficient solutions, coupled with government initiatives to reduce carbon emissions, is driving the demand for smart and sustainable temperature control systems. Moreover, the rising awareness among consumers regarding indoor air quality and the impact of temperature on health and well-being has further fueled the demand for these systems. With technological advancements, temperature control systems are becoming more affordable and accessible, leading to their widespread adoption across various industries, including residential, commercial, and industrial sectors.
• Based on the Implementation Type, the market is segmented into New Construction and Retrofit.
• The New Construction segment is holding the largest market share and grow with the Fastest CAGR in upcoming years. The demand for new construction HVAC control systems is increasing due to the growth of the construction industry, particularly in emerging countries of Asia-Pacific and Middle-East and Africa are fueling the market growth. The rising focus on energy efficiency and sustainability in buildings has created a need for modern and advanced HVAC control systems that can regulate temperature and air quality while minimizing energy consumption. Furthermore, the government of many countries is increasingly investing in infrastructure development which further increases the demand for HVAC Control systems.
• Based on applications, the market is segmented into Residential, Commercial, and Industrial.
• In the upcoming years, the demand for commercial control systems is expected to grow with the highest CAGR due to their multiple benefits, such as reduced utility bills, streamlined operations, longer lifespan, increased productivity, and scheduling flexibility. The advanced scheduling capabilities of HVAC control systems are expected to drive market growth, as these systems can turn on and off automatically based on employee schedules, resulting in energy savings. In addition, the integration of HVAC controls with smart technology, such as building access systems, is gaining popularity in the commercial sector. This integration allows for greater automation and control, further improving the overall efficiency and effectiveness of the HVAC system.
• By Geography, the market is classified into Americas, Europe, Middle-East & Africa, and Asia-Pacific.
• During the forecast period, The Americas market accounted for the largest revenue share in the forecasting year. Extreme climatic conditions are a major factor driving market revenue growth. In addition, increasing demand for energy-efficient equipment is contributing to market revenue growth in this region. Governments in various countries are also implementing policies and initiating reward programs to promote the adoption of low-power consumption equipment in various industries. This is significantly contributing to market revenue growth. Moreover, Rapid urbanization and rising per capita income are among other factors contributing to market revenue growth in this region. Construction and manufacturing industries in this region are major consumers of HVAC control systems mainly due to the various advantages offered by them.

Recent Development

• Johnson Controls launched the YORK YVAA variable speed drive screw chiller, featuring increased operating efficiency, a reduced footprint, and integration with low-GWP refrigerants. - April 2022
• Carrier Acquired a stake in Toshiba for manufacturing variable refrigerant flow (VRF) and light commercial HVAC systems. - February 2022

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle-East and Africa (Egypt, Israel, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global HVAC Control Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global HVAC Control Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global HVAC Control Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market