Selbyville, Delaware, June 16, 2020 (GLOBE NEWSWIRE) -- Global HVAC controls market was valued at USD 14.7 billion in 2019 and is projected to record a CAGR of 12.2% over 2019-2026. The burgeoning construction sector across the globe will add substantial momentum to the sales of HVAC controls in the approaching years. Growing demand for efficient temperature management solutions is encouraging the installation of HVAC systems across commercial and residential establishments.
The report also includes insights pertaining to the key aspects such as growth drivers and challenges alongside the various updates regarding the COVID-19 pandemic that will play a key role in determining the market growth in the coming years. The report is inclusive of other pivotal parameters such as the market trends, market share, and market valuations that will influence the worldwide industry over the forecast timeline. A detailed study of the key market players and their product portfolio are also highlighted in the report. Furthermore, the report outlines the potential growth opportunities over the estimated timeframe which are slated to boost the revenue graph of the participating enterprises of this business space.
The International Construction Market Survey reveals that worldwide construction industry registered a growth rate of nearly 3.5% in 2017, which grew to approximately 3.9% in 2018. In addition, the 2017 annual report of European Construction Industry Federation (FIEC) unveiled that construction activity in Europe grew by 2.2% in 2016, reaching a valuation of about EUR 1,278 billion. Similar growth trends across various regions are expected to proliferate the demand for HVAC controls in the upcoming years. Furthermore, rapid urbanization, and rise in disposable income are complementing the industry outlook.
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For the record, Heating ventilation and air conditioning (HVAC) technology used to regulate room temperature, humidity, and air drift in a special area. The primary goal of these systems is to provide thermal comfort and optimal air quality.
Although, the global HVAC controls market is projected to witness commendable gains in the future years, the high installation cost of such technology is likely to negatively impact the growth graph in the coming years.
COVID-19 impact on the overall HVAC controls industry:
The COVID-19 pandemic has adversely impacted the worldwide HVAC controls industry with the major manufacturing facilities remaining shut for a prolonged duration across China, Japan, U.S., and Europe. This has led to a slowdown in the production of HVAC equipment across the globe. Lockdown imposed by governments for stopping the spread of COVID-19 has not only brought the manufacturing industry to a halt, but has also withheld consumer demand for HVAC equipment.
Top regional contributors:
Speaking of the regional terrain, the global HVAC controls market is segregated into North America, Europe, Asia Pacific, Latin America, and Rest of the World. Among these, North America holds a significant market share owing to rapid commercialization and industrialization in the region.
Asia Pacific HVAC controls market is anticipated to show tremendous growth over the analysis period, supported by the thriving construction sector, rapid urbanization, and significant increase in disposable income among the people in the region.
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The worldwide HVAC market is segmented on the basis of component, system, application, region, and competitive landscape.
HVAC Controls Market Component Analysis (Revenue, USD Billion, 2018-2026)
- Sensor
- Controllers
- Controlled Device
HVAC Controls Market System Analysis (Revenue, USD Billion, 2018-2026)
- Ventilation Control
- Integrated Control
- Temperature & Humidity Control
HVAC Controls Market Application Analysis (Revenue, USD Billion, 2018-2026)
- Residential
- Commercial
- Industrial
HVAC Controls Market Regional Analysis (Revenue, USD Billion, 2018-2026)
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
Asia Pacific
- India
- China
- Japan
Latin America
- Brazil
- Mexico
Rest of the World
HVAC Controls Market Competitive Landscape Analysis (Revenue, USD Billion, 2018-2026)
- United Technologies Corporation
- Honeywell International
- Delta Controls
- Johnson Controls
- Mitsubishi Electric Corporation
- Lennox International Inc.
- Nest Labs
- Siemens
- Ingersoll-Rand plc
- Trane
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2026 (USD Billion)
1.2.1. HVAC Controls Market, by Region, 2018-2026 (USD Billion)
1.2.2. HVAC Controls Market, by Component, 2018-2026 (USD Billion)
1.2.3. HVAC Controls Market, by System, 2018-2026 (USD Billion)
1.2.4. HVAC Controls Market, by Application, 2018-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global HVAC Controls Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global HVAC Controls Market Dynamics
3.1. HVAC Controls Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global HVAC Controls Market Industry Analysis
4.1. Porter’s 5 Force Model
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global HVAC Controls Market, by Component
5.1. Market Snapshot
5.2. Global HVAC Controls Market by Component, Performance - Potential Analysis
5.3. Global HVAC Controls Market Estimates & Forecasts by Component 2016-2026 (USD Billion)
5.4. HVAC Controls Market, Sub Segment Analysis
5.4.1. Sensors
5.4.2. Controllers
5.4.3. Controlled Device
Chapter 6. Global HVAC Controls Market, by System
6.1. Market Snapshot
6.2. Global HVAC Controls Market by System, Performance - Potential Analysis
6.3. Global HVAC Controls Market Estimates & Forecasts by System 2016-2026 (USD Billion)
6.4. HVAC Controls Market, Sub Segment Analysis
6.4.1. Temperature & Humidity Control
6.4.2. Ventilation Control
6.4.3. Integrated Control
Chapter 7. Global HVAC Controls Market, by Application
7.1. Market Snapshot
7.2. Global HVAC Controls Market by Application, Performance - Potential Analysis
7.3. Global HVAC Controls Market Estimates & Forecasts by Application 2016-2026 (USD Billion)
7.4. HVAC Controls Market, Sub Segment Analysis
7.4.1. Residential
7.4.2. Commercial
7.4.3. Industrial
Chapter 8. Global HVAC Controls Market, Regional Analysis
Related Report:
HVAC Air Quality Monitoring Market Size, Share & Forecast to 2025
HVAC Air Quality Monitoring will surpass USD 6 billion by 2025, according to a new research report. Rising worldwide pollution concerns have led to many green initiatives such as green building, green energy, etc. Along with new sustainable development goals 2030 into effect all across the globe, the product demand will escalate in near future. Also, increasing pollution is likely to affect the indoor air quality leading to formation of biological impurities such as fungi and molds causing asthma and other allergic responses, that can affect an individual’s health.
Rapid industrialization and urbanization activities in these regions have degraded the indoor air quality to hazardous level. While governments in these regions are now focused to formulate strong regulations and strengthen to the indoor air quality controlling & monitoring.
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