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Extreme climatic conditions is a major factor driving HVAC controls market revenue growth
— Emergen Research
VANCOUVER, BC, CANADA, November 17, 2022 /EINPresswire.com/ — The global Heating, Ventilation, and Air Conditioning (HVAC) controls market size was USD 16.74 Billion in 2021 and is expected to register a revenue CAGR of 9.5% during the forecast period, according to latest analysis by Emergen Research. Industrial transformation and incorporation of Internet of Things (IoT)-enabled devices in HVAC systems have significantly increased application of HVAC system in industrial and commercial facilities, which is a major factor driving market revenue growth. Primary benefit of incorporating IoT components, such as sensors and others into HVAC systems is that, operators can easily operate them from remote locations. In addition, it aids in providing customer-centric services, which thereby increases profitability and customer retention. Another major advantage of incorporating IoT-enabled devices in HVAC system is minimum energy consumption. IoT-enabled devices also aid in providing real-time data when connected to a computer system, which enables industrial professionals and engineers to perform critical maintenance during equipment downtime.
The latest report titled Global HVAC Controls Market contains an in-depth analysis of the fundamental parameters contributing to the global HVAC Controls market scenario. This research report offers readers an in-depth interpretation of the dynamics of the HVAC Controls market, including key drivers, opportunities, threats, and challenges. The report also briefly discusses key business strategies, supply-demand ratios, key regions, prominent market players, and offers a future outlook for the overall HVAC Controls industry. The market research report is a prototype 360° overview of the global HVAC Controls industry with estimated market value, share, growth trends, total revenue, competitive overview, prominent manufacturers and buyers, available product types, and end-use applications. reveal.
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Some Key Highlights From the Report
The temperature control system segment accounted for a significant revenue share in 2021. Wide availability of cost-effective temperature control systems is a major factor driving revenue growth of this segment. A temperature control system is most widely used HVAC control system mainly due to their ability to adjust room temperature as per preference of users. In addition, market companies are significantly investing in research & development activities and manufacturing temperature control system components that significantly aid in lower operating costs and provide constant comfort. This is achieved by sensing or detecting temperature of an enclosed area and thereby heating and cooling accordingly. Increasing construction activities, rising global temperature, and increasing government support are among other factors that contribute to revenue growth of this segment.
The commercial segment accounted for a significant revenue share in 2021. Significant investments in renovation of buildings and incorporation of building automation systems are major factors driving revenue growth of this segment. HVAC operation accounts for nearly half of a commercial facility’s energy consumption on average. Building owners can save a lot of money and energy by installing right HVAC control system. More importantly, as it provides temperature control, fresh air circulation, and filtration, HVAC control is responsible for comfort and health of a building’s occupants. Various equipment features offered by market companies have also played a key role in driving revenue growth of this segment. For instance, Computrols offers additional features, such as a lifetime warranty, integrations to open and proprietary systems, and others, with their HVAC control products available in the market.
Major Players/Manufacturers profiled in the report are:
Honeywell International Inc., Johnson Controls, Schneider Electric, Siemens, Emerson Electric Co., Delta Controls, Trane Technologies plc, Lennox International Inc., Daikin Industries, Ltd., Ecobee, Robert Bosch GmbH, and Jackson Systems & Supply.
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Emergen Research has segmented the global HVAC controls market based on component, system, application, and region:
Component Outlook (Revenue, USD Billion; 2019-2030)
Sensors
Controllers and Controlled Devices
System Outlook (Revenue, USD Billion; 2019-2030)
Temperature Control System
Ventilation Control System
Humidity Control System
Integrated Control System
Application Outlook (Revenue, USD Billion; 2019-2030)
Residential
Commercial
Industrial
The Global Hvac Controls Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Hvac Controls market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report offers insightful information about the market dynamics of the Hvac Controls market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Hvac Controls market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Hvac Controls market.
Report Highlights:
Besides offering a vivid depiction of the global HVAC Controls business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2022-2030).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
Thank you for reading our report. To inquire about customization or any query about the report, please get in touch with us. Our team will make sure the report is best suited to your needs. Emergen Research also offers a country-wise customized report as per clients’ needs.
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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