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HVAC Control Systems Market to reach a market size of $28.8 billion by 2025




 

According to a new report Global HVAC Control Systems Market, published by KBV Research, The Global HVAC Control Systems Market size is expected to reach $28.8 billion by 2025, rising at a market growth of 12.6% CAGR during the forecast period. The rising demand for controller replacement and retrofit would drive market growth. Consumers often replace their heating, ventilation and air conditioning appliances with high installation costs. Nevertheless, just changing the unit used for operating the HVAC equipment can enhance its efficiency. Therefore, over the forecast period, demand for replacement and retrofit systems is set to rise.

The Asia-Pacific market was dominant in the overall regional market of HVAC control systems during 2018. This dominance can be attributed to the rising demand for heating, ventilation, and air conditioning (HVAC) in emerging economies like India and China. Additionally, the regional market will be led by increasing disposable income among consumers. The North America market is expected to witness the prominent growth rate of 11.9 % over the forecast period due to increased adoption of smart homes in the region. In addition, the demand in this region will be dominated by the presence of major market players such as Nest and Honeywell in the region. The Europe market is expected to witness a CAGR of 12% during (2019-2025).

The sensor is an important element used to measure variables like temperature and humidity in the environment. It then sends this information to the controllers which are used to maintain a controlled environment. Although multiple sensors have been used in HVAC control systems, the most widely used are temperature sensors. Other sensors used are sensors for humidity, occupancy, economizer, dew point, and CO2. The segment of sensors held the largest market share in 2018 and is expected to dominate the market over the forecast period. The Controllers market is expected to witness a CAGR of 13.5% during (2019-2025). Additionally, The Controlled Devices market is expected to witness highest CAGR of 14% during (2019-2025).

The Temperature & Humidity Control market dominated the Global HVAC Control Systems by Type 2018, growing at a CAGR of 11.6 % during the forecast period. The Ventilation Control market is expected to witness a CAGR of 12.4% during (2019-2025).

Structural Insights: https://www.kbvresearch.com/hvac-control-systems-market/

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of United Technologies Corporation, Emerson Electric Co., Delta Electronics, Inc., Honeywell International, Inc., Schneider Electric SE, Siemens AG, Johnson Controls International Plc., Mitsubishi Electric Corporation, Ingersoll-Rand Plc. and Lennox International, Inc.

Recent Strategies Deployed in HVAC Control Systems Market

? Collaborations, Partnerships and Agreements:

Aug-2019: Honeywell came into partnership with Sanhua, a manufacturer of HVACR controls and components for commercializing its Solstice? N41 (R-466A) to use in existing and new HVAC applications. This R-446A is a lower global-warming potential and nonflammable refrigerant, which replaces R-410A in stationary air conditioning systems.
May-2019: Honeywell collaborated with Ouman, a producer of HVAC controllers in Baltics and Nordiac in order to strengthen their co-operation in the distribution of HVAC field devices in Nordiac and Baltics. The companies will also enhance their co-operation in developing HVAC technologies.
Mar-2019: Siemens teamed up with Petra in which Siemens will deliver supply building technology to Petra. Under this collaboration, Siemens will deliver HVAC application software, field services and instrumentation, hardware controllers, and building Desigo CC to Petra.

? Acquisition and Mergers:

Sep-2019: Trane, a business unit of Ingersoll-Rand took over Arctic Chiller Group, a Canadian-based HVAC manufacturer. This acquisition enables the company to incorporate Arctic Chiller solutions into its portfolio of energy-efficient systems and services; through this the company would be able to serve more choices to customers for reducing energy and operating costs.
Jun-2019: Trane, a brand of Ingersoll-Rand announced the acquisition of EcoFactor\-\-s energy analytics software. This acquisition allows the company to integrate EcoFactor?s ?unique artificial intelligence (AI) capabilities for HVAC fraud detection and energy efficiency into its existing Nexia home automation line.
Oct-2018: UTC Climate, Controls & Security acquired S2 Security for combining it with Lenel, which creates LenelS2, a leader in advanced access control systems and services. This business will operate as a part of UTC Climate, Controls and Systems, a leader in HVAC and refrigeration systems.
Apr-2018: Johnson Controls announced the acquisition of Triatek, a manufacturer of innovative airflow solutions for critical environments. This acquisition strengthens the Johnson Controls offering of HVAC airflow control systems for helping the healthcare and other research facilities, which reduces the spread of airborne chemicals and contaminants.
Jan-2018: Ingersoll-Rand acquired ICS Group, a manufacturer of temperature control systems and HVAC solutions. This acquisition is aimed at strengthening its Trane business and growth plans through offering wide range of products to the customers in European Markets.

? Product Launches:

Oct-2019: Emerson Electric released ENERGY STAR? certified Sensi smart thermostats, which is compatible with Awair?s indoor air quality monitoring platform for controlling the environments.
Sep-2019: Siemens introduced RDS120-B with BACnet IP network connectivity in order to control a wide variety of multi-use or light commercial applications.
Apr-2019: Carrier, a UTC company launched its new TruVu multi-purpose control (MPC) platform in order to monitor and control heating, ventilating, and air conditioning (HVAC) equipment.
Apr-2019: Siemens launched RDS120 Smart Thermostat, a HVAC thermostat, which is used in light commercial and managed residential applications. It comprises of multi-use space, dormitories, and residential systems. This solution offers control for conventional HVAC systems with upto two cooling stages and three heating stages or heat pumps upto two stages of auxiliary heat and two compressors.
Feb-2019: Ingersoll-Rand launched Oxbox, a new line of affordable, durable residential heating, ventilation and air conditioning (HVAC) equipment for homebuilders, single and multifamily replacement markets in North America. This Oxbox portfolio comprises of heat pumps, packaged units, air conditioning units, air handlers, coils and furnaces.
Jun-2018: Honeywell released Solstice? N41 (provisional R-466A), a lower global warming-potential and nonflammable refrigerant, which is developed for use in stationary air conditioning systems.
Mar-2018: Honeywell introduced INNCOM e7 Thermostat (e7) incorporated with Amazon Alexa voice control. This system is equipped with HVAC solutions and it reduces energy costs automatically for maximizing the guest comfort, operational efficiency and energy savings in hospitality industry.

? Expansions:

Oct-2019: Johnson Controls-Hitachi Air Conditioning opened a new global development center in Gujarat for designing and manufacturing heating, ventilation, refrigeration, and air conditioning (HVAC) equipment. This expansion aims at fulfilling the needs of Indian Market, South Asian, South East Asian, Middle East and African markets.
Oct-2019: Mitsubishi has established a new office in London for supporting the construction markets. This expansion has its focus on delivering energy efficient heating, ventilating, refrigeration, and air conditioning (HVAC) solutions, which increases the consultative offering of the company.
Aug-2019: Trane expanded its reach to Columbia through opening a new facility in South California focusing on the development of high performing energy-efficient heating, ventilation, refrigeration, and air conditioning (HVAC) products.
Apr-2019: Johnson Controls expanded its reach to United States by opening a new facility in Norman, Oklahoma. This expansion is based upon the research and testing of HVAC rooftop units; the expertise included in this enhances the speed to the market.

Global HVAC Control Systems Market Segmentation

By Component

Controllers
Sensors
Controlled Devices

By Type

Temperature & Humidity Control
Ventilation Control
Integrated Control

By End User

Residential
Commercial
Industrial

By Geography

North America

US
Canada
Mexico
Rest of North America

Europe

Germany
UK
France
Russia
Spain
Italy
Rest of Europe

Asia Pacific

China
Japan
India
South Korea
Singapore
Malaysia
Rest of Asia Pacific

LAMEA

Brazil
Argentina
UAE
Saudi Arabia
South Africa
Nigeria
Rest of LAMEA

Companies Profiled

United Technologies Corporation
Emerson Electric Co.
Delta Electronics, Inc.
Honeywell International, Inc.
Schneider Electric SE
Siemens AG
Johnson Controls International Plc.
Mitsubishi Electric Corporation
Ingersoll-Rand Plc.
Lennox International, Inc.

HVAC Control Systems Market Related Reports:

North America Market
Europe Market
Asia Pacific Market
LAMEA Market





Posted by on 19. December 2019. Filed under Picture Gallery, Semiconductors. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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