by Brianna Crandall — March 25, 2016—The growing need for air quality monitoring systems is likely to boost the advanced HVAC (heating / ventilation / air-conditioning) controls market growth with an objective of preventing an increase in the incidence of respiratory diseases in developing countries such as China, according to a recent report from Sandler Research. In the United States, the high demand for controlling heating and air-conditioning equipment (thermostats) will drive the need for HVAC control.
The analysts forecast that the global advanced HVAC controls market will grow at a compound annual growth rate (CAGR) of 8.67% during the period 2016-2020. Improving the efficiency of lighting and HVAC technologies, as well as integrating controls, reduce energy consumption and costs, improve environmental conditions, and create a better indoor environment for building occupants, notes the report.
In the present scenario, rising energy demand and its growing consumption are leading to various monetary, political, and environmental consequences. Enhancing energy efficiency has, therefore, become an important issue, reminds the report, and building owners, operators, governments, and regulatory agencies are progressively focusing on optimizing building energy use through improved HVAC controls.
The accelerating demand for HVAC equipment is expected to play a significant role in boosting the global advanced HVAC controls market during the forecast period. The rise in the deployment of HVAC equipment in commercial, domestic and industrial buildings will create demand for efficient and effective control systems. Since HVAC consumes almost 40% of the electricity used in commercial buildings, improved control systems will significantly reduce energy consumption, increase return-on-investment (ROI), and reduce energy costs, points out the report.
Strongest segments
The sensors segment contributed the majority of the revenue to the market during 2015. Sensors are increasingly used in advanced HVAC controls systems, with temperature sensing and control as the most vital functions in these systems.
According to the report, the global advanced HVAC controls market by nonresidential users is expected to register the fastest growth during the forecast period, posting a CAGR of over 8%. The nonresidential users of advanced HVAC controls are healthcare and educational institutions, manufacturing and industrial buildings, as well as offices and retail stores.
Key players
The global advanced HVAC controls market is well diversified, with the presence of numerous international and local vendors, with many local vendors providing customized advanced HVAC control systems at a lower price than international suppliers. The market is also witnessing the entry of many new players, but they find it difficult to compete with the international vendors in terms of features, quality, functionalities, and services, according to the report.
The analysis identifies key players in the global advanced HVAC controls market: Honeywell International, Johnson Controls, Mitsubishi Electric, Schneider Electric and Siemens. Other prominent vendors in the market are: Azbil, Delta Controls, Distech Controls, Innotech Systems, KMC Controls, NanoSense, Reliable Controls, Sauter, Trane, and Triatek.
The complete 65-page Global Advanced HVAC Controls Market 2016-2020 report is available for purchase from Sandler Research.
