Global HVAC Controls Market is expected to reach USD 19.72 Billion by 2024 from USD 11.75 Billion in 2016 at a CAGR of 12.3% (Detailed analysis of the market CAGR is provided in the report).
Global HVAC Controls Market based on system, the integrated control systems market is expected to be major contributor for the market growth during the forecast period. Integrated control systems integrate communication modes such as Wi-Fi, the Internet of Things (IoT) and cloud computing that would help in controlling, maintaining and monitoring the Global HVAC Controls Market systems from virtually anywhere. The market based on component, the sensors market is expected to grow at a high rate during the forecast period. Sensors are responsible for sensing various elements in the atmosphere and sending this information correctly to controllers, which then processed for taking appropriate actions. The market for the new construction of the Global HVAC Controls Market controls is expected to grow at a high rate during the forecast period. This is due to the infrastructural developments, increased level of standard of living various government regulations to implement energy efficient HVAC system and controls.
Geographically, the HVAC Controls market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Asia Pacific is expected to be largest market for Global HVAC Controls Market during the forecast period. This is due to the growth in building construction and strict regulations to maintain high energy efficient HVAC system in new buildings in emerging countries of this region.
The years that have been considered for the study are:
• Base year – 2016
• Estimated year – 2017
• Forecast period – 2017 to 2024
• Global HVAC Controls market analysis and forecast, in terms of volume and value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global HVAC Controls Market
• Global HVAC Controls market segmentation on the basis of system, component, implementation type, application and geography (country-wise) has been provided.
• Global HVAC Controls market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of the study.
• Global HVAC Controls market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the global HVAC Controls market are also profiled.
The market is estimated by triangulation of data points obtained from various sources and feeding them into a simulation model created individually for each market. The data points are obtained from paid and unpaid sources along with paid primary interviews with key opinion leaders (KOLs) in the market. KOLs from both, demand and supply side were considered while conducting interviews to get an unbiased idea of the market. This exercise was done at the country level to get the fair idea of the market in countries considered for this study. Later this country-specific data was accumulated to come up with regional numbers and then arrive at global market value for Global HVAC Controls Market.
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