Global HVAC Control Systems Market - Analysis, Technologies & Forecasts to 2021 - Increased Focus on Integrated Building Management Systems (IBMS) - Research and Markets

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Mar 22, 2017, 10:00 ET

DUBLIN, Mar 22, 2017 /PRNewswire/ --

Research and Markets has announced the addition of the "Global HVAC Control Systems Market 2017-2021" report to their offering.

The global HVAC control systems market to grow at a CAGR of 8.78% during the period 2017-2021.

The report, Global HVAC Control Systems Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.

The latest trend gaining momentum in the market is increased focus on integrated building management systems (IBMS). In order, to reduce operational and maintenance costs and optimize energy consumption, building owners are deploying advanced lighting cooling, heating and ventilation systems that account for roughly 60%-70% of a building's energy consumption. However, advancements in building automation system technology have incorporated changes that can successfully integrate two or more systems for optimizing the energy performance of the building.

According to the report, one of the major drivers for this market is harnessing benefits of HVAC control systems. Developing economies around the world are undergoing a phase of rapid industrial growth which has subsequently led to an increase in energy consumption. It is predicted that the global energy demand will rise by 35% by 2035. The rising energy demand due to various infrastructure development activities has forced countries as well as companies to take concerted steps in optimizing energy usage.

Further, the report states that one of the major factors hindering the growth of this market is high initial investment for vendors and end-users. To improve the overall energy efficiency and improve asset performance in any building facility, end-users need to invest in energy-efficient products and services. It is found that the usual cost of investment behind a building that runs on energy-efficient products is higher than those with conventional products and installations. The subsequent high cost of investment made to improve the building's energy efficiency acts as a major complication for the market to grow.

Key vendors

Honeywell International
Johnson controls
Schneider Electric
ABB
Cylon
Trane

Key Topics Covered:

PART 01: Executive summary

PART 02: Scope of the report

PART 03: Market research methodology

PART 04: Introduction

PART 05: Market landscape

PART 06: Market segmentation by component

PART 07: Market segmentation by end-user

PART 08: Geographical segmentation

PART 09: Market drivers

PART 10: Impact of drivers

PART 11: Market challenges

PART 12: Impact of drivers and challenges

PART 13: Market trends

PART 14: Vendor landscape

PART 15: Appendix

For more information about this report visit http://www.researchandmarkets.com/research/hpqbtw/global_hvac

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SOURCE Research and Markets