HVAC Controls Market

Honeywell International Inc (US), Johnson Controls (US) and Schneider Electric (France) are Leading Players in the HVAC Controls Market

The HVAC controls market is projected to grow from USD 14.8 billion in 2020 to USD 24.4 billion by 2025; it is expected to grow at a CAGR of 10.5% from 2020 to 2025. The rapid adoption of digital infrastructures is becoming critical to remain connected all the time. Hence, the smart homes revolution is expected to drive the demand for HVAC systems and subsequently for HVAC controls in next four to five years. The Growing demand for cloud computing in HVAC helps in adhering to regulations, selecting energy-efficient HVAC systems and controls, and storing sales data, and maintaining data for technicians which creates future scope for the sales of HVAC control systems. The the high costs and technical complexities associated with installation of HVAC control systems is a major factor restraining the growth of the HVAC control market. In addition, complexities in upgrading existing HVAC systems is a major challenge for the market players.

The market for HVAC controls is highly competitive and is marked by the presence of a number of large, as well as small and mid-sized players, driving the growth of the market. The market includes few of the key players that occupy a significant share in the overall HVAC control market −  Honeywell International (US), Johnson Controls (US), Schneider Electric (France), and Siemens (Germany). Key strategies adopted by these players to enhance their product portfolios, increase their market share, and expand their presence in the market mainly include product launches, acquisitions, agreements, contracts joint ventures, and partnerships. These strategies enabled them to efficiently cater to the growing demand for HVAC control systems for various applications and expand their footprint by offering products in all the major regions.

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For instance, in September 2020, Carrier (US) launched WeatherExpert line of rooftop units, the true variable-speed cooling capacity and control, which includes the variable-speed 48JC gas/electric and 50JC electric/electric models designed to vary cooling capacity down to 25% and up to 105% of normal capacity. Similarly, in August 2020, Siemens (Germany) launched its two new building automation controllers. Desigo PXC4 and PXC5, which offer a wide range of benefits for automating small- and medium-sized buildings to get the most flexible and scalable building automation. In July 2020, J2 Innovations, a siemens company, the developer of a software platform for building automation and IoT applications, partnered with Clivet SpA (Italy) to develop innovative HVAC plant and building optimization solutions  Further, in June 2020, Schneider Electric partnered with Cisco (US) to drive advances in smart buildings and to deliver more secure, resilient, scalable, and easy to manage IP-based building system networks while maximizing connectivity. Similarly, in June 2020, Honeywell International (US) and SAP Se (Germany) partnered to improve building performance with integrated cloud-based business and operational technology data, which will provide corporate and real estate owners and building operators with aggregated financial and operational intelligence for their portfolios.

Honeywell International Inc (US)

Honeywell International Inc (Honeywell) is a multinational conglomerate that specializes in inventing and commercializing technologies to address critical challenges in the fields of energy, safety, security, productivity, and urbanization. Honeywell is a software-industrial company, which offers industry-specific solutions to aerospace and automotive products and services. The HBT business unit deals with the HVAC controls market. Honeywell Building Technologies products and services include advanced software applications for building control and optimization; sensors, switches, control systems, and instruments for energy management; access control; video surveillance; fire products; remote patient monitoring systems; and the installation, maintenance, and upgrades of systems. Honeywell has a diversified product portfolio and a balanced revenue base, which gives it a competitive advantage over its peers. Indirectly, this helps reduce the companys dependence on a single market for revenue generation.

Johnson Controls (US)

Johnson Controls is a multi-industrial leader and has expertise in diversified technologies serving clients in more than 150 countries. Johnson Controls operates through four primary business segments, based on financial reporting, they are classified into Building Solutions North America, Building Solution EMEA/LA, Building Solutions Asia Pacific, and Global Products. The company provides HVAC control products under the building automation & controls product segment. The company is a global market leader in developing and installing building products and systems, which include HVAC equipment, HVAC controls, security systems, energy management systems, fire detection systems, and fire suppression solutions. The company further serves customers by providing technical services (in the HVAC, security, and fire-protection space), energy-management consulting, and data-driven solutions via its data-enabled business. The company also delivers residential air-conditioning and heating systems and industrial refrigeration products.

Schneider Electric (France)

Schneider is a leading company in the field of energy management and automation for residential homes, office buildings, commercial data centers, and industries. The company caters to the HVAC controls market, by providing HVAC controllers, sensors, valves and actuators, programmable regulators, and centralized building management systems. Schneider is primarily engaged in the design, manufacturing, and sale of integrated products, systems, services, software, and solutions for electric distribution, and automation & control. Schneider Electric’s range of thermostat products is used in applications such as relays, HVAC equipment, pneumatic actuators, and dampers, etc. The company provides different types of valves such as zone valves, ball valves, globe valves, among others. Schneider Electric valve actuators are curated to regulate the throttling, rotation, opening, and closing of the valves in the machinery. The company operates in more than 100 countries.

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HVAC Controls Market with COVID-19 Impact by System (Temperature, Integrated Controls), Component (Sensors, and Controllers & Controlled Devices), Implementation Type (New Construction, Retrofit), Application, and Geography - Global Forecast to 2025

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Report Code
SE 2314
RI Published ON
12/8/2020
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