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HVAC Controls Market Trends

Report ID: GMI7914
Published Date: Jan 2024
Report Format: PDF

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HVAC Controls Market Trends

The HVAC industry is witnessing an increase in smart systems that incorporate IoT devices for real-time monitoring and control. Smart HVAC solutions allow users to remotely alter settings, reducing energy usage and improving overall system efficiency. These systems frequently use machine learning algorithms for predictive maintenance, which improves longevity and lowers operational costs.

Building automation, which involves the integration of HVAC controls into centralized management systems, is an important trend. This method simplifies operations, improves coordination across building systems, and enables real-time adjustments based on occupancy, weather & other factors. Building automation improves not only energy efficiency but also simplifies maintenance and provides a comprehensive view of a building's performance.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

HVAC controls industry size surpassed USD 21 billion in 2023 and is set to expand at over 10% CAGR from 2024 and 2032 driven by rapid urbanization and ongoing construction activities with new buildings requiring efficient heating, ventilation & air conditioning systems.

The temperature control system segment held over 30% share of the HVAC controls market in 2023 and is estimated to witness high demand through 2032 owing to their increasing use in residential, commercial, and industrial applications.

Asia-Pacific held more than 30% revenue share of the HVAC controls industry in 2023 and is poised to expand at a notable CAGR through 2032 attributed to the growing construction activities, increasing urbanization, and the strong emphasis on energy efficiency across the region.

Some of the major HVAC controls industry players are Carrier Global Corporation, Daikin Industries, Johnson Controls, Honeywell International Inc., Schneider Electric, Trane Technologies, and Siemens, among others.