The global advanced HVAC control systems market was valued at $3,115.7 million in 2022 and is projected to reach $6,795.9 million by 2032, registering a CAGR of 8.3 % from 2023 to 2032. An advanced HVAC control system is a sophisticated and automated solution that enhances the management and efficiency of HVAC systems by incorporating technologies like IoT, AI, and automation. It enables precise control over temperature, humidity, air quality, and other environmental factors, contributing to energy savings and improved comfort in residential, commercial, and industrial spaces.
The advanced HVAC control systems market is witnessing a rapid growth rate owing to surge in concerns over the deteriorating condition of the earth’s environment due to the excess release of greenhouse gases. Advanced HVAC control systems automate the operation HVAC system based on the total occupancy of the space, temperature, humidity, and various other elements. This prevents the wastage of energy on the HVAC system. Moreover, HVAC systems are an integral part of many buildings including residential, and commercial. Therefore, the market is witnessing growth, with the rise in the number of buildings. Industries especially food and beverages, pharmaceuticals, and warehouses make significant use of HVAC systems, and rise in industrialization is driving the market growth. However, the high cost of these systems is anticipated to have a negative impact on the market growth. Contrarily, advancements in technology that make the advanced HVAC control systems more user-friendly is expected to be a major growth opportunity for the market.
Furthermore, the price of oil & gas and the price of raw materials are experiencing increased volatility globally, due to a rise in inflation mainly driven by Ukraine-Russia war. This has led to slow-paced growth of the advanced HVAC control systems market.
The advanced HVAC control systems market is segmented on the basis of installation type, system, application, and region. By Installation type, the market is divided into new installation, and retrofit. By system, the market is categorized into temperature control system, ventilation control system, humidity control system, and integrated control system. By application, the market is divided into residential, commercial, and industrial. Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
In-depth advanced HVAC control systems market analysis is conducted by constructing market estimations for key market segments between 2022 and 2032.
Extensive analysis of the advanced HVAC control systems market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The advanced HVAC control systems market revenue and volume forecast analysis from 2023 to 2032 is included in the report.
The key players within the advanced HVAC control systems market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the advanced HVAC control systems industry.
The advanced HVAC control systems market is witnessing a rapid growth rate owing to surge in concerns over the deteriorating condition of the earth’s environment due to the excess release of greenhouse gases. Advanced HVAC control systems automate the operation HVAC system based on the total occupancy of the space, temperature, humidity, and various other elements. This prevents the wastage of energy on the HVAC system. Moreover, HVAC systems are an integral part of many buildings including residential, and commercial. Therefore, the market is witnessing growth, with the rise in the number of buildings. Industries especially food and beverages, pharmaceuticals, and warehouses make significant use of HVAC systems, and rise in industrialization is driving the market growth. However, the high cost of these systems is anticipated to have a negative impact on the market growth. Contrarily, advancements in technology that make the advanced HVAC control systems more user-friendly is expected to be a major growth opportunity for the market.
Furthermore, the price of oil & gas and the price of raw materials are experiencing increased volatility globally, due to a rise in inflation mainly driven by Ukraine-Russia war. This has led to slow-paced growth of the advanced HVAC control systems market.
The advanced HVAC control systems market is segmented on the basis of installation type, system, application, and region. By Installation type, the market is divided into new installation, and retrofit. By system, the market is categorized into temperature control system, ventilation control system, humidity control system, and integrated control system. By application, the market is divided into residential, commercial, and industrial. Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competition Analysis
Competitive analysis and profiles of the major players in the advanced HVAC control systems market are provided in the report. Major companies in the report include Carrier Global Corporation, Danfoss A/S, Lennox International Inc., Honeywell International Inc., Johnson Control, Schneider Electric SE, Siemens AG, Daikin Industries, OJ Electronics A/S, and Ecobee Inc. Major players to remain competitive adopt development strategies such as product launches, business expansion, acquisitions, expansion, partnerships, and mergers.Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging advanced HVAC control systems market trends.In-depth advanced HVAC control systems market analysis is conducted by constructing market estimations for key market segments between 2022 and 2032.
Extensive analysis of the advanced HVAC control systems market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The advanced HVAC control systems market revenue and volume forecast analysis from 2023 to 2032 is included in the report.
The key players within the advanced HVAC control systems market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the advanced HVAC control systems industry.
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Key Market Segments
By Installation Type
- New Installation
- Retrofit
By System
- Temperature Control System
- Ventilation Control System
- Humidity Control System
- Integrated Control System
By Application
- Residential
- Commercial
- Industrial
By Region
- North America
- U.S.
- Canada
- Maxico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- Danfoss A/S
- johnson control
- Schneider Electric SE
- Ecobee Inc.
- Siemens AG
- Lennox International Inc.
- Carrier Global Corporation
- Honeywell International Inc.
- Daikin Industries, Ltd.
- OJ Electronics A/S
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ADVANCED HVAC CONTROL SYSTEMS MARKET, BY INSTALLATION TYPE
CHAPTER 5: ADVANCED HVAC CONTROL SYSTEMS MARKET, BY SYSTEM
CHAPTER 6: ADVANCED HVAC CONTROL SYSTEMS MARKET, BY APPLICATION
CHAPTER 7: ADVANCED HVAC CONTROL SYSTEMS MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the advanced hvac control systems market was valued at $3.1 billion in 2022, and is estimated to reach $6.8 billion by 2032, growing at a CAGR of 8.3% from 2023 to 2032. Advanced HVAC control systems autonomously regulate the functioning of HVAC systems. Equipped with sensors that detect environmental conditions in space, these advanced control systems utilize a microprocessor to direct commands to HVAC components. The instructions are predefined or determined by the built-in Artificial Intelligence (AI) in control systems.Key factors driving the growth of the advanced HVAC control systems market include the development of the building construction market, the growing trend for sustainable development, and the rise in demand for building automation systems (BASs). There is an increase in the demand for energy with the growing population and rising industrialization. For example, between 1971 and 2019, the world’s total energy supply including electricity increased 2.6 times, in which the energy derived from fossil fuels accounted for a larger share of over 80%. Among all the major sector that consumes a high amount of energy, the building sector holds a significant position. The building sector is responsible for about 55% of the global electricity consumption. Out of all the electricity-consuming appliances and components in a building, HVAC systems are by far the largest consumers of electricity, consuming around 40% of the electricity. In addition, inefficient operations can easily account for an additional 20-30% of the total energy waste.
Advanced HVAC control systems are among the few of the systems that can substantially reduce the total electricity consumption. According to various independent studies, advanced HVAC control systems can lead to a saving of nearly 20-30% of electricity saving. This is due to the fact that advanced HVAC control systems automate the HVAC systems. For example, when there is no person in a room, the advanced HVAC control systems set the HVAC to the least power or on sleep mode; thereby, saving electricity. Also, depending on the occupancy of a space, and other environmental factors such as humidity, air quality, the advanced HVAC controls can automatically modify the HAVC operation settings. Thus, the growing demand for sustainable development which promotes the installation of systems that can make the HVAC more energy-efficient including advanced HVAC controls is driving the market growth. In addition, rapid penetration of HVAC control has been witnessed in building automation systems (BASs), which acts as one of the critical factors driving the overall market growth. In addition, the adoption of BASs is increasing considerably, owing to advancements in wireless sensor network technology and wireless protocols. Moreover, the rise in the need for deployment of BASs in office buildings and large shopping complexes to improve the productivity of management systems augments the growth of the market, globally. Furthermore, increase in need for energy-efficient HVAC systems and improvement in standard of living propel the demand for HVAC control in building automation systems in residential applications, thereby propelling the market growth.
Moreover, the advancement of technologies such as IoT, AI, and various others has paved the way for the introduction of new, and user-friendly ways of managing and controlling HVAC systems. For example, smartphone apps are taking advantage of these technological advancements. Apps such as LG ThinQ App, airCloud Go, and various others from third parties, as well as OEMs, are coming into the market. Similarly, other ways of controlling HVAC such as through smart IoT devices such as Alexa, Google Home, and others have also been developed. Such developments that make it easier to control HAVC are providing growth opportunities to businesses in the advanced HVAC control systems market.
The advanced HVAC control systems market is segmented on the basis of installation type, system, application, and region. By installation type, the market is divided into new installation, and retrofit. By system, the market is categorized into temperature control system, ventilation control system, humidity control system, and integrated control system. By application, the market is divided into residential, commercial, and industrial. Region-wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competitive analysis and profiles of the major players in the advanced HVAC control systems market are provided in the report. Major companies in the report include Carrier Global Corporation, Danfoss A/S, Lennox International Inc., Honeywell International Inc., Johnson Control, Schneider Electric SE, Siemens AG, Daikin Industries, OJ Electronics A/S, and Ecobee Inc. Major players to remain competitive adopt development strategies such as product launches, business expansion, acquisitions, expansion, partnerships, and mergers.
Key Market Insights
By material, the installation type segment was the highest revenue contributor to the market and is estimated to reach $3.48 billion by 2032, with a CAGR of 7.9%.By system, the temperature Control System segment dominated the global market. However, the integrated control system segment is expected to be the fastest-growing segment with a CAGR of 9.6% during the forecast period.
Based on application, the commercial segment was the highest revenue contributor to the market, which is expected to grow at a CAGR of 8.4% during the forecast period.
Based on region, Asia-Pacific garnered the largest revenue share in 2022 and is anticipated to grow at the highest CAGR of 8.9% during the forecast period.
Companies Mentioned
- Danfoss A/S
- johnson control
- Schneider Electric SE
- Ecobee Inc.
- Siemens AG
- Lennox International Inc.
- Carrier Global Corporation
- Honeywell International Inc.
- Daikin Industries, Ltd.
- OJ Electronics A/S
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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