Smart HVAC Controls Market Scope
According to the International Energy Agency (IEA) smart HVAC control systems offers controlled use of energy, as the system maintains specific heating, cooling, and ventilation (HVAC) requirements, avoiding access energy consumption while considering end-user comfort. HVAC control is also known as Smart air conditioning systems. The combined technology provides thermal comfort and enhances indoor air quality. HVAC systems work on the mechanical engineering principles of thermodynamics, fluid transfer and heat transfer. It eliminates the need for human interference for maintaining the temperature in a building, thereby increasing the safety, especially in hazardous and complex setups in industrial buildings. HVAC controls help reduce both energy consumption and cost which is a factor propelling the market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | NeST (United States), Schneider Electric (France), Honeywell (United States), Johnson Controls (United States), United Technologies (United States), Trane (Ireland), Siemens (Germany), Salus Controls (United Kingdom), Emerson Electric Co. (United States), Ecobee (Canada), OJ Electronics (Denmark), Regin Controls (United Kingdom) and Distech Controls (United States) |
CAGR | 10.8% |
The Global Smart HVAC controls market is fragmented with numerous players involved in various innovations which are taking place to develop the Smart HVAC Controls Market. It includes the introduction and development of weather compensating controls along with the related components. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Smart HVAC Controls market throughout the predicted period.
NeST (United States), Schneider Electric (France), Honeywell (United States), Johnson Controls (United States), United Technologies (United States), Trane (Ireland), Siemens (Germany), Salus Controls (United Kingdom), Emerson Electric Co. (United States), Ecobee (Canada), OJ Electronics (Denmark), Regin Controls (United Kingdom) and Distech Controls (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Lennox (United States), KMC Controls (United States), Sauter (Switzerland) and Delta Controls (Canada).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Smart HVAC Controls market by Type , by Application (Commercial [Office Buildings, Education Centers, Hospitality Centers, Retail Centers], Residential and Others) and Region with country level break-up.
On the basis of geography, the market of Smart HVAC Controls has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In September 2018, Auburn Community Hospital has completed an energy-efficient indoor comfort solution, which reduces the healthcare facility’s heating and air conditioning energy use by 50 % and saves more than USD 220,000 in energy costs annually. The savings are reinvested in patient care. To achieve these results, the hospital collaborated with Trane Company, a global provider of indoor comfort and energy services solutions.
In June 2023, Siroco, an international supplier of thermal and electrical solutions for industrial vehicles, has launched its new 12-24V CAN/LIN BUS HVAC electronic controller.
Influencing Trend:
Evolution of Monitoring and Intelligent System, Demand for Building Automation System and Changes in Energy Regulations
Market Growth Drivers:
Increasing Adoption of IoT in HVAC System, Easy Fault Detection by Smart HVAC Controls and Concerns Related to Maintenance of IAQ and Health Issues
Challenges:
Complexity Associated with Upgradation of Existing HVAC Systems
Restraints:
Lack of Awareness Among Consumers About HVAC Control System
Opportunities:
Increasing Demand for Cloud Computing in HVAC Controls and High Penetration of Smart Devices
Key Target Audience
Architecture Consultants, Smart HVAC Control System Component Manufacturers, Smart HVAC Control System Providers, Smart HVAC Equipment Manufacturers, Smart HVAC System Distributors, Research Organizations and Consulting Companies, System Integrators & Technology Investors and Technology Standard Organizations, Forums, Alliances, and Associations