LONDON, May 2, 2016 /PRNewswire/ -- The North American HVAC Controls Market : Energy-efficiency Targets and Connected Technology are the Driving Forces
The North American HVAC controls market has been fueled by integration, energy efficiency, indoor air quality, and connectivity needs. The study analyses the market identifying key trends and market dynamics such as market drivers and restraints, the competitive landscape, and distribution channel. The forecast period is 2012 to 2022 with 2015 as the base year. The total market is segmented by stand-alone controls, programmable HVAC controls systems (largest segment), and thermostats, and their revenue forecasts and market share analyses are provided. Vertical markets comprising commercial, industrial, residential, and institutional end-user applications are discussed. The commercial sector contributed the most revenue among all verticals.
Key Questions this Study will Answer
- Is the market growing, how long will it continue to grow, and at what rate?
- Which vertical market is poised for an attractive growth rate?
- What are the emerging technologies that will drive energy efficiency across all applications?
- How will the structure of the market change with time? Is the market ripe for acquisitions?
- Are the vendors in the space ready to go it alone, or do they need partnerships to take their businesses to the next level?
The heating, ventilation, and air conditioning (HVAC) controls market is mature and highly fragmented. Total market (systems and services) revenue is $ billion and growing at a compound annual growth rate (CAGR) of % (2015–2022).
- Along with the sale of systems, services (maintenance and repairs) are integral and highly lucrative for HVAC control manufactures. The companies are aggressively developing smarter and innovative solutions to provide value-added services to the end users.
- With increased flexibility and changes in consumer preferences, end users are looking for more tailored systems which either require elaborate functionalities or that are comparable with smart technologies. The end goal is optimum occupant comfort, and hence manufacturers are engaged in long-term relationships to take care of customers' unmet needs.
- The commercial sector contributed the most revenue among all verticals. The residential market is experiencing a rebound and will likely generate considerable revenue in the smart thermostat market.
- Homeowners and facility managers surely want to buy energy-efficient systems, but reliability also tops their priority list. Hence, with respect to services, contractors and distributors have to make sure that systems operate for a long time without excessive repair or replacement needed.
- Education institutions and healthcare are increasingly inclined towards connectedness. These two verticals require energy-efficiency and ease of system accessibility. The HVAC control systems are ever smarter and more sophisticated, which fulfills the needs of such spaces.
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