This market research report includes a detailed segmentation of the global advanced HVAC controls market by products (sensors, field devices, and floor-level and building-level controllers) and by end-users (residential buildings and non-residential buildings). It also outlines the market shares for key regions such as the Americas, APAC, and EMEA. The key vendors analyzed in this report are Honeywell, Johnson Controls, Mitsubishi Electric, Schneider Electric, and Siemens.
Technavio has released a new market research report on the global advanced HVAC controls market, which is expected to grow at a CAGR of 9% between 2016 and 2020. In the present scenario, rising energy demand and its growing consumption are leading to various consequences such as monetary, political, and environmental. Enhancing energy efficiency has, therefore, become an important issue. Building owners, operators, governments, and regulatory agencies are progressively focusing on optimizing building energy use through improved HVAC controls.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The accelerating demand for HVAC equipment will play a significant role in boosting the global advanced HVAC controls market during the forecast period. The rise in the deployment of HVAC equipment in commercial, domestic, and industrial buildings will create demand for efficient and effective control systems. Since HVAC consumes almost 40% of the electricity used in commercial buildings, improved control systems will significantly reduce energy consumption, increase ROI, and reduce energy costs,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research
The global advanced HVAC controls market by non-residential users is expected to register the fastest growth during the forecast period, posting a CAGR of over 8%. The non-residential users of advanced HVAC controls are healthcare and educational institutions, manufacturing and industrial buildings, as well as offices and retail stores
The key vendors in the global advanced HVAC controls market are Honeywell, Johnson Controls, Mitsubishi Electric, Schneider Electric, and Siemens. The market is well diversified with the presence of numerous international and local vendors, with many local vendors providing customized advanced HVAC control systems at a lower price than international suppliers. The market is also witnessing the entry of many new players, but they find it difficult to compete with the international vendors in terms of features, quality, functionalities, and services.
A more detailed analysis is available in the Technavio report Global Advanced HVAC Controls Market 2016-2020
We can customize reports by other regions and specific segments upon request.
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