HOME › Top Market Reports › HVAC Controls Market by System (Temperature, Ventilation, Humidity, Integrated Controls), Component (Sensors, and Controllers & Controlled Devices), Implementation Type (New Construction, Retrofit), Application, and Geography - Global Forecast to 2023

HVAC Controls Market by System (Temperature, Ventilation, Humidity, Integrated Controls), Component (Sensors, and Controllers & Controlled Devices), Implementation Type (New Construction, Retrofit), Application, and Geography - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: May 2018
Report Code: SE 2314

HVAC controls are used to automate and control air conditioning of various types of buildings with the help of controls, sensors, and controlling devices such as thermostats, control valves, and controllers. It eliminates the need for human interference for maintaining the temperature in a building, thereby increasing the safety, especially in hazardous and complex setups in industrial buildings. In the long run, HVAC controls help reduce both energy consumption and cost. The HVAC controls market was valued at USD 11.71 Billion in 2017 and is expected to reach USD 27.04 Billion by 2023, at a CAGR of 12.1% during the forecast period. The base year considered for the study is 2017, and the forecast period is between 2018 and 2023. Major factors driving the growth of the HVAC controls market include the need for efficient use of energy in buildings, growing construction market, increasing adoption of IoT in the HVAC industry, and rising demand for building automation systems (BASs).

The objective of the report is to provide a detailed analysis of the HVAC controls market segmented on the basis of system, component, implementation type, application, and geography. It also provides detailed information on the major factors influencing the growth of the HVAC controls market.

The research methodology used to estimate and forecast the HVAC controls market begins with obtaining the data on the revenues of key vendors through secondary research via sources such as The American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) and Air Conditioning Contractors of America Association (ACCA). The vendors’ offerings have also been considered to determine market segments. The bottom-up procedure has been employed to arrive at the overall size of the HVAC controls market from the revenues of key players. After arriving at the overall market size, the market has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with the key experts such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments. The breakdown of the profiles of primaries has been depicted in the following figure.

HVAC Controls Market

To know about the assumptions considered for the study, download the pdf brochure

Some of the major players operating in the HVAC controls market are Honeywell (US), Johnson Controls (US), Schneider Electric (France), Siemens (Germany), and United Technologies (US). The HVAC controls provided by these players are required to meet the standards mandated by governmental organizations, such as International Organization for Standardization (ISO).

Key Target Audience

Architecture consultants
HVAC control system component manufacturers
HVAC control system providers
HVAC equipment manufacturers
HVAC system distributors
MEP distributors
Research organizations and consulting companies
System integrators
Technology investors
Technology standard organizations, forums, alliances, and associations

“This study answers several questions for the stakeholders, primarily, which market segments to focus on in the next 2–5 years for prioritizing efforts and investments”

Scope of the Report

This research report categorizes the HVAC controls market on the basis of system, component, implementation type, application, and geography.

HVAC controls Market, by System:

Temperature Control System
Humidity Control System
Ventilation Control System
Integrated Control System

HVAC controls Market, by Component:

Sensors
- By Type
  - Temperature and Humidity Sensors
  - Occupancy Sensors
  - Pressure Sensors
  - Flow Sensors
  - Other sensors
- By Connection Type
  - Wired Sensors
  - Wireless Sensors
Controllers And Controlled Devices
- Controlled Equipment
  - Control Valves
  - Heating and Cooling coils
  - Dampers
  - Pumps and Fans
- Smart Vents
- Controllers and Controlled Devices
  - VAV Controllers
  - FCU Controllers

HVAC controls Market, by Implementation Type:

New Construction
Retrofit

HVAC controls Market, by Application:

Residential
Commercial
Industrial

HVAC controls Market, by Geography:

North America
Europe
Asia Pacific (APAC)
Rest of the World (RoW)

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Company Information:

Detailed analysis and profiling of additional market players (up to 5)

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Definition
    1.3 Scope of the Study
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency & Pricing
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           2.1.1 Secondary and Primary Research
           2.1.2 Secondary Data
                    2.1.2.1 List of Major Secondary Sources
                    2.1.2.2 Secondary Sources
           2.1.3 Primary Data
                    2.1.3.1 Primary Interviews With Experts
                    2.1.3.2 Key Data From Primary Sources
                    2.1.3.3 Key Industry Insights
                    2.1.3.4 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Arriving at the Market Share By the Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing the Market Share By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 34)
    4.1 Attractive Growth Opportunities for the HVAC Controls Market
    4.2 HVAC Controls Market, By System (2018–2023)
    4.3 HVAC Controls Market, By Component (2018–2023)
    4.4 HVAC Controls Market, By Application (2018–2023)
    4.5 HVAC Controls Market in APAC, By Component (2018)
    4.6 HVAC Controls Market, By Geography (2018)

5 Market Overview (Page No. - 38)
    5.1 Introduction
           5.1.1 Drivers
                    5.1.1.1 Need for Efficient Use of Energy in Buildings
                    5.1.1.2 Growing Construction Market to Boom the Adoption of HVAC Controls
                    5.1.1.3 Increasing Adoption of IoT in the HVAC Industry
                    5.1.1.4 Rising Demand for Building Automation Systems (BASs)
           5.1.2 Restraints
                    5.1.2.1 Lack of Awareness About the Benefits of HVAC Controls
                    5.1.2.2 Huge Investments for Carrying Out R&D and Product Differentiation
           5.1.3 Opportunities
                    5.1.3.1 Growing Demand for Cloud Computing in Hvac
                    5.1.3.2 Increasing Adoption of Smart Devices
           5.1.4 Challenge
                    5.1.4.1 Complexity in Upgrading the Existing HVAC Systems

6 HVAC Controls Market, By System (Page No. - 43)
    6.1 Introduction
    6.2 Temperature Control System
    6.3 Ventilation Control System
    6.4 Humidity Control System
    6.5 Integrated Control System

7 HVAC Controls Market, By Components (Page No. - 55)
    7.1 Introduction
    7.2 Sensors
           7.2.1 By Type
                    7.2.1.1 Temperature and Humidity Sensors
                    7.2.1.2 Occupancy Sensors
                    7.2.1.3 Pressure Sensors
                    7.2.1.4 Flow Sensors
                    7.2.1.5 Other Sensors
           7.2.2 Sensors, By Connection Type
                    7.2.2.1 Wired Sensors
                    7.2.2.2 Wireless Sensors
    7.3 Controllers and Controlled Devices
           7.3.1 Controlled Equipment
                    7.3.1.1 Control Valves
                    7.3.1.2 Heating and Cooling Coils
                    7.3.1.3 Dampers
                    7.3.1.4 Pumps and Fans
           7.3.2 Smart Vents
           7.3.3 Controllers
                    7.3.3.1 VAV Controllers
                    7.3.3.2 FCU Controllers

8 HVAC Controls Market, By Implementation Type (Page No. - 70)
    8.1 Introduction
    8.2 New Construction
    8.3 Retrofit

9 HVAC Controls Market, By Application (Page No. - 74)
    9.1 Introduction
    9.2 Residential
    9.3 Commercial
           9.3.1 Office Buildings
           9.3.2 Education Centers
           9.3.3 Healthcare Centers
           9.3.4 Hospitality
           9.3.5 Retail Centers
           9.3.6 Others
    9.4 Industrial

10 Geographic Analysis (Page No. - 88)
     10.1 Introduction
     10.2 North America
             10.2.1 Regulatory Framework
             10.2.2 Events to Be Held in North America in 2018
             10.2.3 US
             10.2.4 Canada
             10.2.5 Mexico
     10.3 Europe
             10.3.1 Regulatory Framework
             10.3.2 Events to Be Held in Europe in 2018
             10.3.3 UK
             10.3.4 Germany
             10.3.5 France
             10.3.6 Rest of Europe
     10.4 APAC
             10.4.1 Regulatory Framework
             10.4.2 Events to Be Held in APAC in 2018
             10.4.3 China
             10.4.4 India
             10.4.5 Japan
             10.4.6 Rest of APAC
     10.5 RoW
             10.5.1 Regulatory Framework
             10.5.2 Events to Be Held in RoW in 2018
             10.5.3 South America
             10.5.4 Middle East
             10.5.5 Africa

11 Competitive Landscape (Page No. - 116)
     11.1 Overview
     11.2 Ranking of Players, 2017
     11.3 Competitive Situation and Trends
             11.3.1 Product Launches and Developments
             11.3.2 Acquisitions
             11.3.3 Joint Ventures, Mergers, Contracts, and Agreements
             11.3.4 Expansions

12 Company Profiles (Page No. - 122)
     12.1 Introduction
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
     12.2 Key Players
             12.2.1 Honeywell
             12.2.2 Johnson Controls
             12.2.3 Schneider Electric
             12.2.4 Siemens
             12.2.5 United Technologies
             12.2.6 Emerson Electric
             12.2.7 Ingersoll-Rand
             12.2.8 Lennox
             12.2.9 Delta Controls
             12.2.10 Distech Controls
     12.3 Other Key Players
             12.3.1 KMC Controls
             12.3.2 Daikin Industries
             12.3.3 LG Electronics
             12.3.4 Jackson Systems
             12.3.5 PECO
             12.3.6 Belimo
             12.3.7 Apollo America
             12.3.8 ICM Controls
             12.3.9 Azbil
             12.3.10 Sauter

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 156)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Introducing RT: Real-Time Market Intelligence
     13.4 Available Customizations
     13.5 Related Reports

List of Tables (69 Tables)

Table 1 HVAC Controls Market, By System, 2015–2023 (USD Billion)
Table 2 HVAC Controls Market for Temperature Control System, By Component, 2015–2023 (USD Billion)
Table 3 HVAC Controls Market for Temperature Control System, By Application, 2015–2023 (USD Billion)
Table 4 HVAC Controls Market for Temperature Control System, By Region, 2015–2023 (USD Billion)
Table 5 HVAC Controls Market for Ventilation Controls System, By Component, 2015–2023 (USD Million)
Table 6 HVAC Controls Market for Ventilation Control System, By Application, 2015–2023 (USD Million)
Table 7 HVAC Controls Market for Ventilation Control System, By Region, 2015–2023 (USD Million)
Table 8 HVAC Controls Market for Humidity Control System, By Component, 2015–2023 (USD Million)
Table 9 HVAC Controls Market for Humidity Control System, By Application, 2015–2023 (USD Million)
Table 10 HVAC Controls Market for Humidity Control System, By Region, 2015–2023 (USD Million)
Table 11 HVAC Controls Market for Integrated Control System, By Component, 2015–2023 (USD Million)
Table 12 HVAC Controls Market for Integrated Control System, By Application, 2015–2023 (USD Billion)
Table 13 HVAC Controls Market for Integrated Control System, By Region, 2015–2023 (USD Billion)
Table 14 HVAC Controls Market, By Components, 2015–2023 (USD Billion)
Table 15 HVAC Controls Market Size, By Sensor, 2015–2023 (USD Billion and Billion Units)
Table 16 HVAC Controls Market of Sensors, By Sensor Type, 2015–2023 (USD Million)
Table 17 HVAC Controls Market of Sensors, By Connection Type, 2015–2023 (USD Billion)
Table 18 HVAC Controls Market of Wired Sensors, By Application, 2015–2023 (USD Million)
Table 19 HVAC Controls Market of Wired Sensor, By Region, 2015–2023 (USD Million)
Table 20 HVAC Controls Market of Wireless Sensors, By Application, 2015–2023 (USD Million)
Table 21 HVAC Controls Market of Wireless Sensors, By Region, 2015–2023 (USD Million)
Table 22 HVAC Controls Market for Sensors, By System, 2015–2023 (USD Million)
Table 23 HVAC Controls Market for Sensors, By Application, 2015–2023 (USD Million)
Table 24 HVAC Controls Market for Sensors, By Region, 2015–2023 (USD Million)
Table 25 HVAC Controls Market, By Controllers and Controlled Equipment, 2015–2023 (USD Billion)
Table 26 HVAC Controls Market for Controllers and Controlled Equipment, By System, 2015–2023 (USD Billion)
Table 27 HVAC Controls Market for Controllers and Controlled Equipment, By Application, 2015–2023 (USD Billion)
Table 28 HVAC Controls Market for Controllers and Controlled Equipment, By Region, 2015–2023 (USD Billion)
Table 29 HVAC Controls Market, By Implementation Type, 2015–2023 (USD Billion)
Table 30 HVAC Controls Market, By Application, 2015–2023 (USD Million)
Table 31 HVAC Controls Market for Residential Application, By System, 2015–2023 (USD Million)
Table 32 HVAC Controls Market for Residential Application, By Component, 2015–2023 (USD Billion)
Table 33 HVAC Controls Market for Residential Application, By Region, 2015–2023 (USD Billion)
Table 34 HVAC Controls Market for Residential Application, By Connection Type, 2015–2023 (USD Million)
Table 35 Difference Between Residential and Commercial Applications
Table 36 HVAC Controls Market for Commercial Application, By System, 2015–2023 (USD Billion)
Table 37 HVAC Controls Market for Commercial Application, By Component, 2015–2023 (USD Billion)
Table 38 HVAC Controls Market for Commercial Application, By Region, 2015–2023 (USD Billion)
Table 39 HVAC Controls Market for Commercial Application, By Connection Type, 2015–2023 (USD Million)
Table 40 HVAC Controls Market for Industrial Application, By System, 2015–2023 (USD Million)
Table 41 HVAC Controls Market for Industrial Application, By Component, 2015–2023 (USD Billion)
Table 42 HVAC Controls Market for Industrial Application, By Region, 2015–2023 (USD Million)
Table 43 HVAC Controls Market for Industrial Application, By Connection Type, 2015–2023 (USD Million)
Table 44 HVAC Controls Market, By Region, 2015–2023 (USD Billion)
Table 45 HVAC Controls Market in North America, By Country, 2015–2023 (USD Billion)
Table 46 HVAC Controls Market in North America, By System, 2015–2023 (USD Million)
Table 47 HVAC Controls Market in North America, By Application, 2015–2023 (USD Billion)
Table 48 HVAC Controls Market in North America, By Component, 2015–2023 (USD Billion)
Table 49 HVAC Controls Market in North America, By System, 2015–2023 (USD Million)
Table 50 List of Events to Be Held in Europe in 2018
Table 51 HVAC Controls Market in Europe, By Country/Region, 2015–2023 (USD Million)
Table 52 HVAC Controls Market in Europe, By System, 2015–2023 (USD Million)
Table 53 HVAC Controls Market in Europe, By Application, 2015–2023 (USD Million)
Table 54 HVAC Controls Market in Europe, By Component, 2015–2023 (USD Billion)
Table 55 HVAC Controls Market in Europe, By Connection Type, 2015–2023 (USD Million)
Table 56 German Greenhouse Gas Emission Reduction Sector Targets 2030
Table 57 List of Events to Be Held in APAC in 2018
Table 58 HVAC Controls Market in APAC, By Country, 2015–2023 (USD Billion)
Table 59 HVAC Controls Market in APAC, By System, 2015–2023 (USD Million)
Table 60 HVAC Controls Market in APAC, By Application, 2015–2023 (USD Billion)
Table 61 HVAC Controls Market in APAC, By Component, 2015–2023 (USD Billion)
Table 62 HVAC Controls Market for Sensors in APAC, By Connection Type, 2015–2023 (USD Million)
Table 63 List of Events to Be Held in RoW in 2018
Table 64 HVAC Controls Market in RoW, By Region, 2015–2023 (USD Million)
Table 65 HVAC Controls Market in RoW, By System, 2015–2023 (USD Million)
Table 66 HVAC Controls Market in RoW, By Application, 2015–2023 (USD Million)
Table 67 HVAC Controls Market in RoW, By Component, 2015–2023 (USD Billion)
Table 68 HVAC Controls Market in RoW, By Connection Type, 2015–2023 (USD Million)
Table 69 Ranking of the Key Players in the HVAC Controls Market, 2017

List of Figures (63 Figures)

Figure 1 HVAC Controls Market Segmentation
Figure 2 HVAC Controls Market: Research Design
Figure 3 HVAC Controls Market: Bottom-Up Approach
Figure 4 HVAC Controls Market: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Assumptions for the Research Study
Figure 7 HVAC Controls Market for Integrated Control System to Grow at the Highest CAGR During the Forecast Period
Figure 8 Commercial Application to Hold the Largest Size of the HVAC Controls Market By 2023
Figure 9 Controllers and Controlled Equipment of HVAC Controls Market to Grow at A Higher CAGR During the Forecast Period
Figure 10 HVAC Controls Market for New Construction to Have the Largest Market Share By 2023
Figure 11 HVAC Controls Market, By Region
Figure 12 Need for Efficient Use of Energy in Buildings, Growing Construction Market and Adoption of IoT Boost Adoption of HVAC Controls
Figure 13 Market for Temperature Control System to Grow at the Highest CAGR During the Forecast Period
Figure 14 Market for Controllers and Controlled Equipment to Hold the Largest Share of the HVAC Controls Market for Components During the Forecast Period
Figure 15 Commercial Application to Dominate the HVAC Controls Market in 2018
Figure 16 Temperature Control System to Hold the Largest Share of the HVAC Controls Market in APAC
Figure 17 HVAC Controls Market in India to Grow at the Highest CAGR During the Forecast Period
Figure 18 Need for Efficient Use of Energy in Buildings Drives the HVAC Controls Market
Figure 19 India’s Projected Energy Demand By 2047
Figure 20 HVAC Controls Market, By System
Figure 21 Temperature Control System to Dominate the HVAC Controls Market During the Forecast Period
Figure 22 General Temperature Control System
Figure 23 Commercial Application for Temperature Control System to Grow at the Highest Rate in Forecast Period
Figure 24 Controllers and Controlled Equipment to Hold the Largest Size of Market for Ventilation Controls System By 2023
Figure 25 Market for Humidity Control System for Residential Application to Grow at the Highest CAGR Between 2018 and 2023
Figure 26 North America to Hold the Largest Size of the HVAC Controls Market for Integrated Control System By 2023
Figure 27 HVAC Controls Market, By Components
Figure 28 Controllers and Controlled Equipment to Dominate the HVAC Controls Market During the Forecast Period
Figure 29 Working of Thermocouple
Figure 30 HVAC Controls Market for Occupancy Sensors to Grow at the Highest CAGR Between 2018 and 2023
Figure 31 Temperature Control System to Hold the Largest Size of the HVAC Controls Market for Sensors By 2023
Figure 32 Commercial Application to Dominate the Market of Controllers and Controlled Equipment During the Forecast Period
Figure 33 HVAC Controls Market, By Implementation Type
Figure 34 New Construction to Dominate the HVAC Controls Market During the Forecast Period
Figure 35 HVAC Controls Market, By Application
Figure 36 Commercial Application to Dominate the HVAC Controls Market During the Forecast Period
Figure 37 Controllers and Controlled Equipment to Hold the Largest Size of the HVAC Controls Market for Residential Application By 2023
Figure 38 HVAC Controls Market for Sensors in Commercial Application to Grow at A Higher CAGR Between 2018 and 2023
Figure 39 Wireless Sensor to Grow at A Highest Rate in Commercial Application in HVAC Controls Market During Forecast Period
Figure 40 Temperature Control Systems to Hold the Largest Size of the HVAC Controls Market for Industrial Application By 2023
Figure 41 APAC to Hold the Largest Size of the HVAC Controls Market for Industrial Application By 2023
Figure 42 HVAC Controls Market, By Geography
Figure 43 Geographic Snapshot of the HVAC Controls Market
Figure 44 HVAC Controls Market in APAC to Hold the Largest Size During the Forecast Period
Figure 45 North America: Market Snapshot
Figure 46 Integrated Control System to Lead the HVAC Controls Market in North America During the Forecast Period
Figure 47 Europe: Market Snapshot
Figure 48 HVAC Controls Market in the Germany Held the Largest Size in Europe in 2018
Figure 49 Sensors are Expected to Grow at A Higher Rate in HVAC Controls Market in Europe Between 2018 and 2023
Figure 50 APAC: Market Snapshot
Figure 51 Temperature Control System to Dominate the HVAC Controls Market in APAC During the Forecast Period
Figure 52 Wired Sensor to Dominate the HVAC Controls Market for Sensors in APAC During the Forecast Period
Figure 53 South America to Dominate the HVAC Controls Market in RoW Between 2018 and 2023
Figure 54 Commercial Application to Dominate the HVAC Controls Market in RoW Between 2018 and 2023
Figure 55 Product Launches and Developments Emerged as the Key Growth Strategies Adopted By the Market Players Between 2015 and 2018
Figure 56 Honeywell: Company Snapshot
Figure 57 Johnson Controls: Company Snapshot
Figure 58 Schneider Electric: Company Snapshot
Figure 59 Siemens: Company Snapshot
Figure 60 United Technologies: Company Snapshot
Figure 61 Emerson Electric: Company Snapshot
Figure 62 Ingersoll-Rand: Company Snapshot
Figure 63 Lennox: Company Snapshot

The HVAC controls market is expected to grow from USD 13.63 billion in 2018 and is expected to reach USD 27.04 billion by 2023, at a CAGR of 12.1% between 2018 and 2023. Factors that drive the growth of the market include the need for efficient use of energy in buildings, growing construction market, increasing adoption of IoT in the HVAC industry, and rising demand for building automation systems (BASs).

The integrated control systems market is expected to grow at the highest CAGR between 2018 and 2023. The integrated control system includes the combination of temperature, ventilation, light, and other control systems. This combined effect enables the user to benefit from the different features of different controls. Integrated control systems are also expected to integrate communication modes such as Wi-Fi, cloud computing, and the Internet of Things (IoT) which would help in controlling, monitoring, and maintaining the HVAC systems from virtually anywhere.

The sensors market is expected to grow at the highest CAGR between 2018 and 2023. Sensors are responsible for sensing various elements in the atmosphere and sending this information accurately to controllers, which can then be processed for taking appropriate actions. These sensors also detect whether the actions taken by controllers and controlled equipment have given the desired results. The development of wireless technology and its application in IoT and smart homes is fueling the market for sensors in HVAC controls.

The market for the new construction of the HVAC controls for implementation type is expected to grow at the highest CAGR between 2018 and 2023. Infrastructural developments, increased level of standard of living and focus on the development of energy-efficient HVAC systems are fueling the growth of the HVAC controls market for new construction. Various government regulations to implement energy efficient HVAC system and controls has resulted in the wide adoption of HVAC controls in new buildings.

The HVAC controls market for commercial application is expected to grow at the highest CAGR between 2018 and 2023. The rise in the adoption of smart buildings and green buildings increases the use of smart sensors and HVAC control equipment, such as programmable thermostat, which would save a lot of energy in these buildings. The application of HVAC controls in commercial buildings ensures switching on or off the HVAC equipment in a particular area, which is not currently occupied. In a huge commercial complex, all the areas are not constantly occupied by a number of people; hence for sensing occupancy of the people in an area, HVAC controls play an important role by enabling efficient use of energy.

HVAC Controls Market

The HVAC controls market in APAC is expected to grow at the highest CAGR between 2018 and 2023. Among major countries in APAC, China is contributing immensely to the HVAC controls market. China is one of the fastest-growing economies in the world according to an announcement made by International Monetary Fund (IMF) in 2017. It also has a large construction industry, which is driven by the need to meet the increasing demand for HVAC in the country. Growth in building construction and strict regulations for maintaining high energy efficiency of the HVAC equipment in new buildings are increasing. China plans to have 50% of all the new buildings to be certified green buildings by 2020. This requires an efficient utility of energy, which can be achieved with the use of energy-efficient HVAC systems and HVAC controls.

Major factors restraining the growth of the HVAC controls market include lack of awareness about the benefits of HVAC controls and huge investment for carrying out R&D and product differentiation. Key market players such as Honeywell (US), Johnson Controls (US), Siemens (Germany), Schneider Electric (France), and United Technologies (US) have adopted strategies such as product launches and developments, expansions, acquisitions, agreements, contracts, and partnerships to gain a competitive edge in the HVAC controls market.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Custom Market Research Services