Technology

HVAC Control Market Witnessing Stunning Growth at a CAGR of 5.7% by 2027 | By Share, Growth

HVAC Control Market Witnessing Stunning Growth at a CAGR of 5.7% by 2027 | By Share, Growth

According to a new report published by Allied Market Research, titled, “HVAC control market by system, implementation type, and end user: opportunity analysis and industry forecast, 2020–2027,” the global HVAC control market size was valued at $14.5 billion in 2019, and is projected to reach $19.9 billion by 2027, registering a CAGR of 5.7% from 2020 to 2027.

In 2019, Asia-Pacific dominated the global HVAC control market, in terms of revenue, accounting for around 49.4% of the global HVAC control market share, followed by Europe and North America. Moreover, the market in LAMEA is growing with high CAGR, owing to urbanization and economic development in developing countries such as Brazil.

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Leading Players:

The key players profiled in the report include Carrier Global Corporation,  Daikin Industries,  Danfoss,  Delta Controls,  Emerson Electric,  Honeywell International Inc,  Johnson Controls, LG Electronics,   Schneider Electric, and Siemens.

Global Hvac Control Market Segments

By System

  • Temperature Control Systems
  • Ventilation Control Systems
  • Humidity Control Systems
  • Integrated Control Systems

By Implementation Type

  • New Construction
  • Retrofit

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Key Findings Of The Study

  • The report provides an extensive analysis of the current and emerging HVAC control market trends and dynamics.
  • Depending on system, the temperature control system segment dominated the HVAC control market, in terms of revenue in 2019 and the integrated control system segment is projected to grow at a significant CAGR during the forecast period.
  • By end user, the commercial segment registered highest revenue in 2019.
  • Asia-Pacific is projected to register highest growth rate in the coming years.
  • Depending on implementation type, the new construction segment dominated the HVAC control market, in terms of revenue in 2019, and retrofit segment is projected to grow at a significant CAGR during the forecast period.
  • The key players within the HVAC control market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the HVAC control industry.
  • The report provides an extensive analysis of the current trends and emerging opportunities of the market.
  • In-depth HVAC control market analysis is conducted by constructing estimations for the key segments between 2020 and 2027.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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