Advanced HVAC Control Market Size, Share, Growth, Global Industry Analysis by Type (Programmable HVAC Control, Smart HVAC Control, and Others) By Application (Commercial, Residential, and Others), and Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2024 To 2032

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ADVANCED HVAC CONTROL MARKET REPORT OVERVIEW

The global advanced hvac control market size was valued at USD 2.36 billion in 2023 and is projected to touch USD 8.68 billion by 2032, at a CAGR of 15.6% during the forecast period. Asia-Pacific holds leading position in advanced hvac control market share in 2023.

The term "HVAC control" refers to the process of regulating the functioning of air conditioning and heating systems. It's essentially a control system with a sensing device that compares the current condition, such as temperature, to a goal state.  Advanced HVAC control systems are a range of devices that control heating, cooling, and ventilation of any infrastructure. A sensing device is used in the HVAC system which compares actual and required state of the environment. One of the major needs is to efficiently manage the energies in buildings. There arises a need for having a proper control system that can help in better functioning of HVAC systems. Having a proper control for heating and cooling is very important for any building.

In many industries like mining and power generation, increased industrialization has resulted in a boom in demand for heating and cooling equipment. Increased energy bills, and rigorous environmental requirements, have compelled a variety of commercial organizations and industries to install HVAC controls in their working locations. Furthermore, a spike in demand for simple-to-use remote access control systems has led to significant increases in HVAC system investments by commercial, industrial, and residential end users.

COVID-19 Impact: Ceasing of Construction Sector to Impede Sales 

Due to the shutdown imposed by the COVID-19 epidemic, several goods in the hardwood decking industry have been halted. Furthermore, as the COVID-19 vaccine becomes available, the number of COVID-19 cases is projected to decline in the near future. This has resulted in the reopening of wooden decking businesses at full capacity. This will assist in the market's recovery, following the drop in COVID-19 infection cases, equipment and machinery manufacturers must focus on protecting their employees, operations, and supply networks in order to respond to urgent emergencies and build new working procedures.

LATEST TRENDS

"Cloud-based Computing to Augment Market Growth"

The rise in adoption of advanced HVAC controlled systems and equipment is seen maximum in the commercial sector and rise in usage of IoT-fueled systems is expected to support the current recovery from the pandemic. In HVAC systems, information regarding HVAC equipment, loads, proposals, maintenance, and controls is stored. It creates many systems that are not connected to each other. To solve this, a common platform known as cloud computing can be used to connect such systems and make a unified platform for all the activities. Updated information regarding projects, controls, access to everyone involved in the project and equipment can be enabled with the cloud platform. Cloud computing is expected to take on advanced HVAC control market growth.     

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ADVANCED HVAC CONTROL MARKET SEGMENTATION

• By Type

According to type; the market is divided into programmable HVAC control, smart HVAC control, and others.

Programmable HVAC control provides flexible, scalable, and uniform solutions that will adjust the heating and cooling automatically. Smart HVAC control uses components that are networked and makes use of IoT. This evolution is due to building automation. People can control HVAC with their phones or tablets as well.

• By Application

Based on the application; the market is divided into commercial, residential, and others.

In commercial applications, it is used in zoning systems, which help in regulating temperatures by ventilation, heating, and cooling. Commercial applications accounted for the second largest share in the market. Management of air-conditioning systems of residential buildings for efficient energy and environment.  

DRIVING FACTORS

"Rise of IoT-based HVAC systems to Drive Demand in Market"

Rapid industrialization and urbanization in countries like India, China, Brazil, Mexico, and other countries have led to an increase in demand for cooling and heating equipment. Rising energy bills and regulations regarding the environment have affected and forced organizations and companies to use HVAC systems. An increase in remote-controlled systems that are easy to operate enables anyone to access the systems easily. The merger of IoT and HVAC systems has provided customer-centric systems. Implementation of IoT enables machine-to-machine connection that helps in cost saving. This is one of the drivers for IoT-based HVAC systems. There has been a growing demand for cloud-based HVAC systems which is promoting advanced HVAC control market growth. With this, environmental regulations to save energy are also expected to drive this market.  

"New Technologies to Boost Demand in Market"

Control systems are essential for controlling and functioning of the HVAC control systems which can be a driving factor for the advanced HVAC control market. Innovative technologies introduced lead to better results with improved performance. This new product launches with a range of product lines to control humidity, temperature moderation, and automated control system. New innovations such as sustainable HVAC systems, geothermal HVAC systems, thermal powered HVAC systems, etc. are some of the technologies that are trending in the advanced HVAC control market that are expected to create new demand for such systems.

RESTRAINING FACTORS

"Costly Systems to Decline Demand "

The restraints for this market are high installation costs, maintenance costs, and high energy consumption are some of the factors associated with this market that may pose a challenge in adoption of advanced HVAC systems. Advancements in the control systems have also upped the prices which may prove to be costly for some organizations. In addition to this, there may not be enough knowledge about HVAC systems, the benefits regarding them are still unknown in many regions.

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ADVANCED HVAC CONTROL MARKET REGIONAL INSIGHTS

"Technological Advancements to Augment Growth in Asia Pacific"

Asia Pacific holds the largest part of the advanced HVAC control market share due to the energy-saving and efficient products and technological advancements. This growth is attributed to the environmental awareness in the developing and developed countries with the adoption of green initiatives in the commercial sector and also numerous construction projects.

North America holds the second-largest share in the market owing to government plans, laws, and programs. Other key factors promoting growth in this region include supportive government policies, beneficial legislation, programs, and associations. However, because to the negative effects of COVID-19 on the infrastructural, industrial, and commercial sectors, the US market is predicted to shrink significantly. The shutdown of numerous on-going building projects may have a significant impact on HVAC control system adoption in 2020. With these projects gradually resuming operations, demand for HVAC control systems employed in these projects may rise over time in the future years, as the economy improves.

KEY INDUSTRY PLAYERS

"Key Players to Boost Demand Leading to Market Growth"

The report delivers information about the list of market players and their working in the industry. It encompasses information that is done with proper research, new products, technological developments, acquisitions, mergers, and partnerships. Other facets analyzed for the advanced HVAC control market include which companies are generating the maximum revenue, bringing innovations in products, value proposition, and pricing of their products.

LIST OF TOP ADVANCED HVAC CONTROL COMPANIES

• NeST (U.S.)
• Schneider (France)
• Honeywell (U.S.)
• Johnson Controls (Ireland)
• Trane (Ireland)
• Siemens (Germany)
• SALUS Controls (U.K.)
• Emerson (U.S.)
• Ecobee (Canada)
• Oj Electronics (Denmark)
• Regin Controls (Sweden)
• Lennox (U.S.)
• KMC Controls (U.S.)
• Sauter AG (Switzerland)
• Delta Controls (Canada)
• Distech Controls (Canada)

INDUSTRY DEVELOPMENT

April 2020: Johnson Controls International started a new HVAC rooftop center of excellence at Oklahoma. The center is the facility for research, testing, and manufacturing for HVAC rooftop units.

September 2020: Carrier launched WeatherExpert rooftop units which are designed to have cooling capacity down by 25% and up to 105% of normal capacity. 

REPORT COVERAGE

This research projects an analysis of the firms that exist in the market that can affect the forecasting period. It also offers a comprehensive analysis by examining the factors like segmentation, segmentation, trends, growth, size, restraints, etc. This analysis is subject to change if the key players and projected analysis of market dynamics change.