Global HVAC Controls Market will grow to US$15.571 billion by 2021, from US$9.312 billion in 2015, at a CAGR of 8.95% over the forecast period. Falling prices of sensors and advancement in HVAC control systems technologies are fuelling the growth of this market. Factors such as excessive energy consumption, growing demand for improved energy-efficient sustainable devices and supportive government initiatives and policies boost the demand for HVAC Controls systems worldwide. Rising construction of commercial buildings will further propel the growth of this market over the forecast period.
Developing countries like China and India are projected to witness high market growth owing to rising population, urbanization, and increasing investment in infrastructure, construction, and real estate activities. High installation costs and lack of skilled personnel are some of the factors that hinder the growth of global HVAC Controls market.
The first section of the report deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
Next section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of HVAC Controls. Complete industry analysis has also been covered by Porter’s Five Forces model as a part of this report section.
Thirdly, HVAC Controls market has been segmented by system, component, end user, and geography. On the basis of system, the market is segmented as humidity control, temperature control, ventilation control, and integrated control. By component, segmentation has been done as sensors, heating and cooling coils, controllers, and others. The market has also been segmented on the basis of end users such as residential, industrial and commercial as a part of this report.
Important regions for vendors in terms of market size are covered through detailed geographical segmentation and country Pressure forecasts. Geographical regions covered as a part of this section are Americas, Europe Middle East and Africa, and Asia Pacific.
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry player profiles as part of this section are Honeywell International, Siemens, Emerson Electric and Trane among other companies.