HVAC Control Systems Market to Reach USD 29.59 billion by 2026 Driven by the Growing Emphasis on Improved Workplace Environment

The global HVAC control systems market size is projected to reach USD 29.59 billion by 2026. Technological advancements have played a key role in the development of advanced HVAC control systems. According to a report published by Fortune Business Insights, titled “HVAC Control System Market Size, Share & Industry Analysis, By Product (Traditional HVAC Control Systems, Smart HVAC Control Systems), By Application (Residential, Commercial and Industrial), and Regional Forecast, 2019-2026,” the market size was USD 14.50 billion in 2018 and will exhibit a CAGR of 9.4% during the forecast period, 2019-2026.

An HVAC system is used to regulate ventilation, heating, and air conditioning in large residential and commercial areas. These systems are run by a software-integrated controller that is centralized. Technological advancements have played a vital role towards the wider product adoption of HVAC systems. The increasing industrialization and residential sectors have created several growth opportunities for the companies operating in the market. The increasing investment in the research and development of these products has emerged in favor of market growth. HVAC systems are normally deployed in areas where normal ACs are insufficient. The demand for improved workplace environment will create a subsequent demand for HVAC control systems in numerous countries across the world. The growing demand for the product will contribute to the growth of the market in the coming years.

To Cater to the Massive Demand for HVAC Systems, Johnson Controls Acquires EasyIO

The report highlights a few of the major industry developments of recent times and states their impact on the global market. Johnson’s Controls’ recent acquisition of EasyIO has made headlines across the world. With a bid to establishing a stronghold in the market, Johnson Controls announced that it will completing the acquisition of Malaysia-based Building and Energy System (BEMS)’ EasyIO. The company will look to enhance its portfolio of HVAC and refrigeration systems. This acquisition will not just help the company grow, but will have a positive impact on the growth of the global market in the forthcoming years.

To Get the detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/hvac-control-system-market-102448

Intelligent Thermostat Has Enabled Widespread Product Applications

The report encompasses several factors that have contributed to the growth of the market in recent years. The advent of intelligent thermostat has played a major role towards the widespread product adoption across the world. The ability of an intelligent thermostat to provide multistage heating and cooling. The growing emphasis on integrating intelligent thermostat in HVAC control systems will emerge in favor of the companies operating in the market.

Major Companies Are Focusing on Addressing Customized Requirements        

Due to the increasing customized needs of consumers, several large scale companies are focusing more on consumer-specific needs. Large scale companies are looking to invest more towards the research and development of newer systems that will cater to flexible needs. Johnson Controls is one of the major companies offering custom turnkey solutions. A few of the companies that are operating in the global HVAC control systems market include:

• Johnson Controls


• Daikin Industries, Ltd


• Mitsubishi Electric Trane HVAC US LLC


• Emerson Electric Co.


• Schneider Electric


• Honeywell International Inc.


• DELTA CONTROLS


• Carrier Corporation


• Siemens


• JACKSON CONTROL


• ICM Controls

Further Report Findings:

The report analyzes the ongoing HVAC control system market trends across:

• North America


• Latin America


• Europe


• Asia Pacific (Fastest Growing Region)
  
  
  
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    • 2017: USD 6.55 billion
    
    
    • 2018: USD 7.13 billion
    
    
    
    
  
  
  
  


• Middle East and Africa

The market is segmented on the basis of:

• Product


• Application

Industry Developments:

• November 2019: Johnson Controls to acquire Synchrony from Siemens, a global leader in the development of Active Magnetic Bearing (AMB) technology.

The global HVAC control systems market is segmented on the basis of: