Research Shows HVAC Controls Market Rising at 10.8% CAGR to 2022
PUNE, India, April 5, 2016 /PRNewswire/ --
Global HVAC controls market is projected to hit $17.51 billion by 2022 at a CAGR of 10.8% to 2022 led by increasing use of IP technology, growing number of construction activities, and increased legislation and energy management initiatives for increasing the adoption of HVAC.
Complete report on global HVAC controls market spread across 222 pages, profiling 11 companies and supported with 86 tables and 101 figures is now available at http://www.reportsnreports.com/reports/522161-hvac-controls-market-by-system-temperature-ventilation-humidity-integrated-controls-component-sensors-and-controllers-controlled-devices-revenue-source-hvac-controls-bems-application-and-geography-global-trend-and-forecast-to-2022.html
The main factors which positively impact the HVAC controls market are the demand for improved energy-efficient devices and low environ mental impact with the use of HVAC controls, increasing use of IP technology, growing number of construction activities, and increased legislation and energy management initiatives for increasing the adoption of HVAC. The high level of efficiency through wireless controls and sensors and tax reduction offered by government for the implementation of HVAC controls are some of the other factors supporting the growth of the market.
The market for the commercial buildings application-which includes office buildings, educational centers, healthcare centers, hospitality centers, retail centers, and others-is expected to grow at a high CAGR. HVAC system is the highest energy consumer in commercial places. Various government regulations and tax credit schemes for retrofits are encouraging the growth of the HVAC controls market. Additionally, Federal Energy Policy Act of 2005 also provides a tax credit to the owners of new or existing commercial buildings on the implementation of heating, cooling, ventilation, or hot water systems which would help to reduce the total energy consumption of the building and also reduce energy-related costs. Thus, the owners of commercial building increasingly prefer implementing HVAC controls to reduce the energy consumption.
The increasing real estate and infrastructural activity in the Asia-Pacific region along with the increasing population and urbanization in countries such as China and India drive the growth of the market for HVAC controls. HVAC controls are gradually becoming an integral part of digitalized households. The market for HVAC controls in the residential, commercial, as well as industrial buildings applications is expected to grow with the new construction activities which are expected to implement HVAC controls on a large scale. Integrated control systems are expected to hold the largest share of the market in the future owing to its benefit of offering different controls through a single device.
The major companies involved in the development of HVAC controls market include Delta Controls Inc. (U.S.), Distech Controls Inc. (U.S.), Emerson Electric Co. (U.S.), Honeywell International Inc. (U.S.), Ingersoll Rand Plc. (Ireland), Johnson Controls, Inc. (U.S.), KMC Controls Inc. (U.S.), Lennox International Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), and United Technologies Corporation (U.S.). Order a copy of HVAC Controls Market by System (Temperature, Ventilation, Humidity & Integrated Controls), Component (Sensors and Controllers & Controlled Devices), Revenue Source (HVAC Controls & BEMS), Application, and Geography - Global Trend and Forecast to 2022 research report at http://www.reportsnreports.com/purchase.aspx?name=522161
This research report categorizes the global HVAC controls market on the basis of system, component, revenue source, application, and geography. This report describes the drivers, restraints, opportunities, and challenges with respect to the HVAC controls market. The Porter's five forces analysis has been included in the report with a description of each of the forces along with its respective impact on the HVAC controls market.
On a related note, another research on Building Automation System Market Global Forecasts to 2022 says, the growing demand for energy efficient and enhanced security buildings would drive the building automation system market. Commercial buildings sector to hold the largest share of the building automation system market. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities. Companies like Honeywell International Inc., United Technologies Corporation, Johnson Controls Inc., Hubbell, Inc., Schneider Electric SE, Siemens AG, Legrand SA, Ingersoll Rand PLC, ABB and Robert Bosch GmbH have been profiled in this 162 pages research report available at http://www.reportsnreports.com/reports/219401-global-building-automation-controls-market-2013-2018-by-product-lighting-security-access-hvac-entertainment-outdoor-elevator-controls-building-management-systems-bms-application-geography-americas-europe-apac-row-.html
Explore more reports on semiconductors and electronics market at http://www.reportsnreports.com/market-research/semiconductor-and-electronics/
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