LONDON--(BUSINESS WIRE)--The global HVAC control systems market size is poised to reach USD 5.08 billion by 2023, according to a new report by Technavio, progressing at a CAGR of 6% during the forecast period.
“Apart from the rising demand for efficient and fail-proof HVAC controls, the personalization of HVAC controls and the increasing focus on integrated building management system are some other major factors that are expected to drive market growth during the forecast period,” says a senior analyst at Technavio. Request Free Sample Pages
The market is driven by the rising demand for efficient and fail-proof HVAC controls. In addition, advances in temperature control systems are anticipated to further boost the HVAC control systems market growth during the forecast period.
The demand for stable temperature maintenance and efficient monitoring of HVAC systems is increasing across several industries. This is increasing the demand for efficient and fail-proof HVAC controls, especially from cold storage plants, data centers, food processing facilities, and medical and pharmaceutical industry. The ability of HVAC controls to operate and maintain the temperature and environment at optimum levels increases their adoption in cold storage plants and data centers. Therefore, the rapid increase in storage plants and data centers is expected to further drive the demand for HVAC controls.
Advances in temperature control systems such as thermostats and control valves are increasing the adoption of HVAC control systems across various industries. For instance, zoning systems allow users to set varying heating and cooling parameters to regulate temperatures in different zones. Such advances and continuous innovations in HVAC control systems are expected to boost the growth of the market during the forecast period.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Azbil Corp.
- Delta Electronics Inc.
- Emerson Electric Co.
- Honeywell International Inc.
- Ingersoll-Rand Plc
- Johnson Controls International Plc
- Lennox International Inc.
- Mitsubishi Electric Corp.
- Schneider Electric SE
- Siemens AG
Market Segmentation by Category and Product Types:
The HVAC Control Systems Market can be broadly categorized into the following applications:
- Controlled devices
Key Regions for the HVAC Control Systems Market:
Featuring a breakdown of region-wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
Market segmentation analysis
- Market definition
Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
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