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Advanced HVAC Controls Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025

  • Published: Apr 2021
  • Pages: 120
  • SKU: IRTNTR43817
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The advanced hvac controls market share is expected to increase by USD 5.14 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.12%.

This advanced hvac controls market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers advanced hvac controls market segmentations by product (sensors, field devices, and level controllers), end user (commercial and residential), and geography (APAC, North America, Europe, MEA, South America, APAC, North America, Europe, MEA, and South America). The advanced hvac controls market report also offers information on several market vendors, including Azbil Corp., Delta Electronics Inc., Emerson Electric Co., Honeywell International Inc., Ingersoll Rand Inc., Johnson Controls International Plc, Lennox International Inc., Mitsubishi Electric Corp., Schneider Electric SE, and Siemens AG among others.

What will the Advanced HVAC Controls Market Size be During the Forecast Period?

Advanced HVAC Controls Market Size

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Advanced HVAC Controls Market: Key Drivers, Trends, and Challenges

The rising adoption of integrated smart technologies is notably driving the advanced hvac controls market growth, although factors such as limited skills and knowledge of the workforce may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the advanced hvac controls industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Advanced HVAC Controls Market Driver

The rising adoption of integrated smart technologies is a major factor driving the global advanced hvac controls market share growth. Growth in the number of connected devices in various end-user industries has increased the volume of data generated within organizations and from consumers. As competition is intensifying, the demand for outcomes and profits will increase in the business environment. Business operators have realized that they must establish automated operational platforms to obtain operational efficiency, without any location barriers, to optimize costs, deliver good services, and increase revenues. Therefore, companies are introducing automation and flexible techniques for business processing and customer handling to enhance their market share. Most of the sales of household appliances, especially in regions such as North America and Europe, are repeat purchases by consumers. Repeat purchases are a result of innovations and advances in technology, especially in smart and innovative appliances. These appliances incorporate wireless connecting devices and IoT. Therefore, the adoption of smart technologies by both residential as well as commercial end-users will drive the growth of the market during the forecast period.

Key Advanced HVAC Controls Market Trend

The advent of integrated industry 4.0 with IoT is another factor supporting the global hvac controls market share growth. The global economy is currently witnessing the adoption of industrial automation across various end-user industries, which is called the 4.0 Industrial revolution. The current trend of automation for data exchange in manufacturing and other labor-intensive processes includes IoT, cyber-physical systems, and cloud computing. Robotics systems that are controlled by remote computers, which are equipped with machine learning, are used to process a wide range of materials with minimal human intervention. A factory is considered Industry 4.0 compliant if it provides several solutions. Many vendors are introducing new products with IoT compatibility. Automation is required to integrate all the systems in warehouses and distribution centers. Therefore, material handling processes, which are a key part of any facility, are increasingly being automated to adjust the temperature according to the requirement, which is expected to increase the demand for advanced, automated HVAC controls during the forecast period. Therefore, the demand for automated process handling equipment, including advanced HVAC controls, will increase during the forecast period as several companies are expected to adopt Iindustry 4.0.

Key Advanced HVAC Controls Market Challenge

The limited skills and knowledge of the workforce will be a major challenge for the global hvac controls market share growth during the forecast period. The benefits of automation control systems can only be achieved when the workforce is competent to skillfully use the systems and obtain a proper diagnosis. For instance, in-depth knowledge and technical expertise about the functionalities and operations of HVAC systems are indispensable for vendors. Lack of knowledge prevents end-users from investing in advanced HVAC systems. Most of the workforce in industrial facilities is not technology ready to effectively operate new systems. The use of advanced HVAC controls requires considerable knowledge and technical know-how, which the workforce is not accustomed to. Though some industrial participants are adopting HVAC systems, most rely on manual HVAC systems due to limited knowledge about advanced technologies. Therefore, the lack of technical expertise among users and the low availability of skilled workforce to develop advanced HVAC controls limit the scope of advanced HVAC controls.

This advanced hvac controls market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global advanced HVAC controls market is a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the advanced hvac controls market during the forecast period.

Who are the Major Advanced HVAC Controls Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

  • Azbil Corp.
  • Delta Electronics Inc.
  • Emerson Electric Co.
  • Honeywell International Inc.
  • Ingersoll Rand Inc.
  • Johnson Controls International Plc
  • Lennox International Inc.
  • Mitsubishi Electric Corp.
  • Schneider Electric SE
  • Siemens AG

This statistical study of the advanced hvac controls market encompasses successful business strategies deployed by the key vendors. The advanced hvac controls market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Azbil Corp.- The company offers advanced HVAC controls such as sensors, building management systems, user terminals, controllers, valves, actuators and others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The advanced hvac controls market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Advanced HVAC Controls Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the advanced hvac controls market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of global industrial machinery market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Advanced HVAC Controls Market?

Advanced HVAC Controls Market Market segmentation by region

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45% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for advanced hvac controls market in APAC. Market growth in this region will be faster than the growth of the market in regions.

The increasing preference for centralized HVAC systems will facilitate the advanced hvac controls market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 affected many countries in the region, including China, India, South Korea, and Japan. The outbreak impacted the construction sector in the region and consequently, affecting the demand for HVAC equipment. However, with the gradual control in the spread of the virus and relaxation of the lockdown restrictions, the market in focus in APAC is expected to recover during the forecast period.

What are the Revenue-generating Product Segments in the Advanced HVAC Controls Market?

Advanced HVAC Controls Market Segmentation

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The advanced hvac controls market share growth by the sensors segment will be significant during the forecast period. There is a wide variety of sensors that are used in HVAC system controls, which include temperature, humidity, occupancy, carbon dioxide, and VOC sensors; pressure sensors; network sensors; dew point sensors; and wireless connectivity sensors. Such product developments are encouraging end-users to adopt advanced HVAC controls. Owing to these factors, this segment of the market is expected to grow during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the advanced hvac controls market size and actionable market insights on post COVID-19 impact on each segment.

 

Advanced HVAC Controls Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 8.12%

Market growth 2021-2025

$ 5.14 billion

Market structure

Fragmented

YoY growth (%)

6.89

Regional analysis

APAC, North America, Europe, MEA, South America, APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 45%

Key consumer countries

US, China, India, Germany, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Azbil Corp., Delta Electronics Inc., Emerson Electric Co., Honeywell International Inc., Ingersoll Rand Inc., Johnson Controls International Plc, Lennox International Inc., Mitsubishi Electric Corp., Schneider Electric SE, and Siemens AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Advanced HVAC Controls Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive advanced hvac controls market growth during the next five years
  • Precise estimation of the advanced hvac controls market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the advanced hvac controls industry across APAC, North America, Europe, MEA, South America, APAC, North America, Europe, MEA, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of advanced hvac controls market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
  • 2.2 Market characteristics
    • Exhibit 02: Market characteristics
  • 2.3 Value chain analysis
    • Exhibit 03: Value Chain Analysis: Industrial machinery market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five Forces Analysis
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 15: Product - Market share 2020-2025 (%)
    • 5.2 Comparison by Product
      • Exhibit 16: Comparison by Product
    • 5.3 Sensors - Market size and forecast 2020-2025
      • Exhibit 17: Sensors - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Sensors - Year-over-year growth 2020-2025 (%)
    • 5.4 Field devices - Market size and forecast 2020-2025
      • Exhibit 19: Field devices - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Field devices - Year-over-year growth 2020-2025 (%)
    • 5.5 Level controllers - Market size and forecast 2020-2025
      • Exhibit 21: Level controllers - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Level controllers - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by Product
      • Exhibit 23: Market opportunity by Product

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 24: End user - Market share 2020-2025 (%)
    • 6.2 Comparison by End user
      • Exhibit 25: Comparison by End user
    • 6.3 Commercial - Market size and forecast 2020-2025
      • Exhibit 26: Commercial - Market size and forecast 2020-2025 ($ million)
      • Exhibit 27: Commercial - Year-over-year growth 2020-2025 (%)
    • 6.4 Residential - Market size and forecast 2020-2025
      • Exhibit 28: Residential - Market size and forecast 2020-2025 ($ million)
      • Exhibit 29: Residential - Year-over-year growth 2020-2025 (%)
    • 6.5 Market opportunity by End user
      • Exhibit 30: Market opportunity by End user

    7 Customer landscape

    • 7.1 Customer landscape
      • Exhibit 31: Customer landscape

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 32: Market share by geography 2020-2025 (%)
    • 8.2 Geographic comparison
      • Exhibit 33: Geographic comparison
    • 8.3 APAC - Market size and forecast 2020-2025
      • Exhibit 34: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 35: APAC - Year-over-year growth 2020-2025 (%)
    • 8.4 North America - Market size and forecast 2020-2025
      • Exhibit 36: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 37: North America - Year-over-year growth 2020-2025 (%)
    • 8.5 Europe - Market size and forecast 2020-2025
      • Exhibit 38: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 39: Europe - Year-over-year growth 2020-2025 (%)
    • 8.6 MEA - Market size and forecast 2020-2025
      • Exhibit 40: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 41: MEA - Year-over-year growth 2020-2025 (%)
    • 8.7 South America - Market size and forecast 2020-2025
      • Exhibit 42: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 43: South America - Year-over-year growth 2020-2025 (%)
    • 8.8 Key leading countries
      • 8.9 Market opportunity by geography
        • Exhibit 45: Market opportunity by geography ($ million)

      9 Drivers, Challenges, and Trends

      • 9.1 Market drivers
        • 9.2 Market challenges
          • Exhibit 46: Impact of drivers and challenges
        • 9.3 Market trends

          10 Vendor Landscape

          • 10.1 Vendor landscape
            • Exhibit 47: Vendor landscape
          • 10.2 Landscape disruption
            • Exhibit 48: Landscape disruption
            • Exhibit 49: Industry risks
          • 10.3 Competitive scenario

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 50: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 51: Market positioning of vendors
            • 11.3 Azbil Corp.
              • Exhibit 52: Azbil Corp. - Overview
              • Exhibit 53: Azbil Corp. - Business segments
              • Exhibit 54: Azbil Corp. - Key offerings
              • Exhibit 55: Azbil Corp. - Segment focus
            • 11.4 Delta Electronics Inc.
              • Exhibit 56: Delta Electronics Inc. - Overview
              • Exhibit 57: Delta Electronics Inc. - Business segments
              • Exhibit 58: Delta Electronics Inc. - Key offerings
              • Exhibit 59: Delta Electronics Inc. - Segment focus
            • 11.5 Emerson Electric Co.
              • Exhibit 60: Emerson Electric Co. - Overview
              • Exhibit 61: Emerson Electric Co. - Business segments
              • Exhibit 62: Emerson Electric Co. - Key news
              • Exhibit 63: Emerson Electric Co. - Key offerings
              • Exhibit 64: Emerson Electric Co. - Segment focus
            • 11.6 Honeywell International Inc.
              • Exhibit 65: Honeywell International Inc. - Overview
              • Exhibit 66: Honeywell International Inc. - Business segments
              • Exhibit 67: Honeywell International Inc. - Key offerings
              • Exhibit 68: Honeywell International Inc. - Segment focus
            • 11.7 Ingersoll Rand Inc.
              • Exhibit 69: Ingersoll Rand Inc. - Overview
              • Exhibit 70: Ingersoll Rand Inc. - Business segments
              • Exhibit 71: Ingersoll Rand Inc. - Key offerings
              • Exhibit 72: Ingersoll Rand Inc. - Segment focus
            • 11.8 Johnson Controls International Plc
              • Exhibit 73: Johnson Controls International Plc - Overview
              • Exhibit 74: Johnson Controls International Plc - Business segments
              • Exhibit 75: Johnson Controls International Plc - Key news
              • Exhibit 76: Johnson Controls International Plc - Key offerings
              • Exhibit 77: Johnson Controls International Plc - Segment focus
            • 11.9 Lennox International Inc.
              • Exhibit 78: Lennox International Inc. - Overview
              • Exhibit 79: Lennox International Inc. - Business segments
              • Exhibit 80: Lennox International Inc. - Key offerings
              • Exhibit 81: Lennox International Inc. - Segment focus
            • 11.10 Mitsubishi Electric Corp.
              • Exhibit 82: Mitsubishi Electric Corp. - Overview
              • Exhibit 83: Mitsubishi Electric Corp. - Business segments
              • Exhibit 84: Mitsubishi Electric Corp. - Key news
              • Exhibit 85: Mitsubishi Electric Corp. - Key offerings
              • Exhibit 86: Mitsubishi Electric Corp. - Segment focus
            • 11.11 Schneider Electric SE
              • Exhibit 87: Schneider Electric SE - Overview
              • Exhibit 88: Schneider Electric SE - Business segments
              • Exhibit 89: Schneider Electric SE - Key offerings
              • Exhibit 90: Schneider Electric SE - Segment focus
            • 11.12 Siemens AG
              • Exhibit 91: Siemens AG - Overview
              • Exhibit 92: Siemens AG - Business segments
              • Exhibit 93: Siemens AG - Key news
              • Exhibit 94: Siemens AG - Key offerings
              • Exhibit 95: Siemens AG - Segment focus

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Currency conversion rates for US$
                • Exhibit 96: Currency conversion rates for US$
              • 12.3 Research methodology
                • Exhibit 97: Research Methodology
                • Exhibit 98: Validation techniques employed for market sizing
                • Exhibit 99: Information sources
              • 12.4 List of abbreviations
                • Exhibit 100: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
              Interested in this report?
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              Advanced HVAC Controls Market market growth will increase by $5.14 bn during 2021-2025.
              The advanced hvac controls market market is expected to grow at a CAGR of 8.12% during 2021-2025.
              Technavio has segmented the advanced hvac controls market market by product (sensors, field devices, and level controllers) ,end user (commercial, residential, Europe, MEA, and South America) , and geography (APAC, North America, Europe, MEA, and South America).
              Azbil Corp., Delta Electronics Inc., Emerson Electric Co., Honeywell International Inc., Ingersoll Rand Inc., Johnson Controls International Plc, Lennox International Inc., Mitsubishi Electric Corp., Schneider Electric SE, Siemens AG are a few of the key vendors in the advanced hvac controls market market.
              APAC will register the highest growth rate of 45% among the other regions. Therefore, the advanced hvac controls market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the advanced hvac controls market market growth are:
              • Rising adoption of integrated smart technologies
              • Advent of integrated Industry 4.0 with IoT
              The advanced hvac controls market market vendors should focus on grabbing business opportunities from the sensors segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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              • Detailed vendors report with competitive landscape
              • Covid-19 impact and recovery analysis
              • Data on revenue-generating market segments
              • Details on the market shares of various regions
              • Five-force market analysis

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