Pune, India -- (SBWIRE) -- 04/13/2019 -- The report on HVAC Controls Market by control (heating, cooling, humidifying and dehumidifying, ventilating, cleaning & air movement), application (residential, commercial, and industrial) trends analysis and forecasts up to 2024 studies the market sizes, key trends and opportunities in the main geographies such as North America, Europe, Asia-Pacific, Rest of the World. According to the report the Global HVAC Controls Market is projected to grow at a CAGR in terms of value over the period of 2018-2024. The growth in the world market is primarily driven by a significant contribution by North America (Leading region) region to this market. The global HVAC controls market is projected to grow at a CAGR of 11.8% over the forecast period of 2018-2024.

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HVAC Control Market: Industry Insight

HVAC control systems are used to regulate the operation of a heating and/or air conditioning equipment. The HVAC control system has four basic elements such as sensor, controller, controlled device and source of energy for the simplest room thermostat to the most complicated computerized control. The HVAC control system is typically distributed across three areas such as the main mechanical room, air handling units and individual rooms.

HVAC Control Market: Drivers and Restraints

The increasing demand to improve building performance, reduce energy consumption and environmental footprint of commercial buildings is the major driving factor for the growth of the HVAC controls market. Controls systems help to maintain thermal comfort conditions, monitor the performance of the HVAC systems, identify maintenance problems and maintains optimum indoor air quality. In addition, these systems reduce energy use and manpower costs and offer safe plant operation, that all provide economic benefits to the building facilities which increases the adoption of these controls. Furthermore, increasing investments in the construction sector such as real estate and infrastructure to maximizing energy efficiency is expected to generate opportunities for the growth of the HVAC controls market.

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HVAC Control Market: Segmentation

The global HVAC controls market is segmented into control and application. Based on the type of control, the markets are classified into heating, cooling, humidifying and dehumidifying, ventilating, and cleaning & air movement. Based on applications, the market is bifurcated into residential, commercial, and industrial. The commercial applications are anticipated to hold the largest share in the HVAC controls market. The increasing demand to reduce environmental footprints and to create cost-effective systems has increased the adoption of HVAC controls in the commercial spaces. In addition, the continuous evolution and improvement in building automation systems in firms will facilitate the growth of this segment in the HVAC controls market.

HVAC Control Market: Regional Insight

North America held the largest share in the global HVAC control market. The emergence of adoption of new technologies, new regulations that stipulate adoption of energy efficient HVAC systems and need for refurbishing or upgrading the existing HVAC systems are the major factors that drive the growth of the North American HVAC control market. Presence of huge population, changing lifestyles, favorable government regulations and programs that promote adoption of HVAC systems in the Asia Pacific region. The boom in construction activities, varying weather conditions related to global warming, in the Asia Pacific region and increasing demand from countries such as China, India, and Japan drive the growth of the Asia-Pacific HVAC controls market.

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HVAC Control Market: Competitive Analysis

The HVAC control market is moderately fragmented. The major players in the report are Johnson Controls, Honeywell, Siemens, Emerson, Schneider Electric, Ingersoll-Rand, Delta Controls, Lennox, United Technologies, and Distech Controls.

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- Comprehensive analysis of global as well as regional markets of the HVAC Controls.

- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.

- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.

- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.