Advanced HVAC Control Market to Record Growth at 10.8 % CAGR Over The Next 10 Years

Heating, Ventilation and Air Conditioning (HVAC) are devices that are used to control and manipulate the condition of one’s environment. Essentially, Heating, Ventilation and Air Conditioning (HVAC) systems adjust temperates and enhance the quality of indoor air by reducing the presence of carbon dioxide, airborne bacteria, moisture, smoke or dust, as well as other gases. They are used in residential, industrial and commercial buildings such as hospitals, factories, apartments, offices, hotels, etc. Heating, Ventilation and Air Conditioning (HVAC) systems primarily operate on the principles of thermodynamics, fluid mechanics and heat transfer.

Market.us has recently published a market research report titled, “Global Advanced HVAC (Heating, Ventilation and Air Conditioning) Control Market by Type, and by Application – Forecast from 2019 to 2028”. This report offers an in-depth analysis of the advanced HVAC (Heating, Ventilation and Air Conditioning) control market. It is through exhaustive and systematic research efforts, both primary and secondary, that the research results have been comprehensively examined over the study period. The global advanced HVAC (Heating, Ventilation and Air Conditioning) control market is projected to have a valuation of over US$ 6.95 Billion, from its estimated revenue of US$ 2.4 billion generated in 2018.

Advanced HVAC Control Market: Dynamics

An advanced HVAC control system is an entirely configurable apparatus that can be systematized as per the requirements of its intended users. An advanced HVAC system acts as the principal architect of an HVAC system device as it manages all of its intricate functions, from the flow of air, heat pump management and inversely adjusts the indoor environment to that of the outside of a particular structure.

An assisting factor in the growth of the advanced HVAC control market is the dependence of its devices on the use of intelligent technology, I.o.T, and smart devices. This has lead to a systematic decrease in the use of conventional HVAC systems. And, in countries where both heating and cooling systems are required for their ever-growing markets, the advanced HVAC control market has been steadily growing.

However, rising costs needed in the R&D sectors of the advanced HVAC control market, as well as the large overheads required to install and maintain these systems, may appear to hinder its future growth.

Global Advanced HVAC Control Market: Segmental snapshot

The global advanced HVAC control market can be segmented on the basis of product type, application, and region.

Product type: the market is sectioned into smart HVAC control, programmable HVAC, etc. The programmable HVAC control faction accounted for approximately or contributed 30.9% in 2018. It is expected to grow at a CAGR of 5% during the forecasted period.

Application: segmentation occurs in the form of industrial, commercial, residential and other forms of applications. Wherein, residential applications account for a majority of its portion.

Region: the market is segmented into North America, South America, Europe, Asia-Pacific, Africa, and the Middle East. A majority share of the Advanced HVAC Control market belongs to North America followed by the Asian Pacific region.

Global Advanced HVAC Control Market: Competitive Analysis

The global advanced HVAC Control Market research report includes company profiles of major players such as Alphabet Inc., Schneider Electric SE, Fr. Sauter Holding Ag, Delta Controls Inc., Honeywell International Inc., Johnson Controls International Plc, Lennox International Plc, Siemens AG, Ingersoll-Rand Plc, Kreuter Engineering Inc., Acquity Brands Inc., SALUS Controls, Ecobee Inc., Emerson Electric Co., OJ Electronics A/S, etc.