$17.51 Billion HVAC Controls Market Analysis & Forecasts by System, Component, Revenue Source, Application, and Geography - Research and Markets

Apr 06, 2016, 09:10 ET from Research and Markets

DUBLIN, April 6, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "HVAC Controls Market by System, Component, Revenue Source, Application, and Geography - Global Trend and Forecast to 2022" report to their offering. 

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The HVAC controls market is expected to reach USD 17.51 Billion by 2022 at a CAGR of 10.8% between 2016 & 2022

The growth of the market is driven by factors such as the increasing demand for improved energy-efficient devices and low environmental impact with the use of HVAC controls, increasing use of IP technology, growing number of construction activities, and increased legislation and energy management initiatives. Factors such as high level of efficiency through wireless controls & sensors and tax reduction offered by government for the implementation of HVAC controls are also supporting the growth of this market. 

The HVAC controls market for the commercial and residential buildings applications is expected to grow at a high CAGR as compared to that for the industrial buildings application. Building owners are implementing HVAC systems to reduce energy consumption and increase energy efficiency to reduce energy costs. There are a number of government regulations encouraging the implementation of HVAC controls in existing and new residential buildings. Furthermore, several governments offer tax credit on the installation of HVAC controls, which has further accelerated the adoption rate of HVAC controls in the residential buildings application. 

The market for integrated control systems is growing because of their benefit of providing various controls such as temperature, ventilation, and humidity controls through a single device. It is majorly used in the industrial buildings application where there is a need to maintain the temperature according to the manufacturing process, the requirement of the products being manufactured, and the raw materials stored. The market for integrated control systems is expected to grow at the highest CAGR since these systems help in identifying and collecting data regarding the requirement of the environment to be maintained in that area and automatically maintain the environment at appropriate levels. 

Honeywell International Inc. (U.S.) invests heavily in R&D for designing innovative products to match the market needs and explore new opportunities to drive the growth and profitability. The company is focusing on new product developments and acquisitions as the major growth strategies. In February 2016, the company launched a new app which would provide managers with real-time data and analysis of a plant on their smartphones. In January 2016, it acquired Elster Division of Melrose Industries PLC (U.S.), one of the leading providers of thermal gas solutions for commercial, industrial, and residential heating systems. 

Scope of the Report: 

By System: 

- Temperature Control 
- Ventilation Control 
- Humidity Control 
- Integrated Control 

By Component: 

- Sensors 
- - By Sensor Type 
- Controllers & Controlled Devices 
- - Controlled Equipment 
- - - Control Valves 
- - - Heating and Cooling Coils 
- - - Dampers 
- - - Actuators 
- - - Pumps & Fans 
- - Smart Vents 
- - Controllers 
- - - VAV Controllers 
- - - FCU Controllers 

By Revenue Source: 

- HVAC Controls 
- Building Energy Management Systems (BEMS) 

By Application: 

- Residential Buildings 
- Industrial Buildings 
- Commercial Buildings 
- - Office Buildings 
- - Education Centers 
- - Healthcare Centers 
- - Hospitality Centers 
- - Retail Centers 
- - Others 

Companies Mentioned 

- Delta Controls Inc. 
- Distech Controls Inc. 
- Emerson Electric Co. 
- Honeywell International Inc. 
- Ingersoll Rand PLC. 
- Johnson Controls, Inc. 
- KMC Controls, Inc. 
- Lennox International Inc. 
- Schneider Electric SE 
- Siemens AG 
- United Technologies Corporation 

For more information visit http://www.researchandmarkets.com/research/bq3466/hvac_controls

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SOURCE Research and Markets