Market Research Report
Advanced HVAC Controls Market by Product, End-users, and Geography - Global Forecast and Analysis 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||907865|
|Published||Content info||174 Pages
Delivery time: 1-2 business days
|Advanced HVAC Controls Market by Product, End-users, and Geography - Global Forecast and Analysis 2019-2023|
|Published: August 21, 2019||Content info: 174 Pages||
Technavio's advanced HVAC controls market analysis considers sales from both sensors, field devices, and level controllers. Our analysis also considers the sales of advanced HVAC controls in APAC, Europe, North America, South America, and MEA. In 2018, the sensors segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing innovations by vendors in the development of sensors will play a significant role in the sensors segment to maintain its market position. Also, our global advanced HVAC controls market report looks at factors such as rising adoption of integrated smart technologies, the growing use of HVAC systems in refrigerated warehouses, and increasing residential and commercial construction activities. However, limited skills and knowledge of workforce, presence of stringent government standards and regulations, and security concerns associated with automation control systems may hamper the growth of the advanced HVAC controls industry over the forecast period.
Refrigerated warehouses are operated at specific temperatures to preserve inventories, such as food products, dairy products, and pharmaceutical drugs, which have a short shelf lie. The adoption of automation by refrigerated warehouses is increasing. The ability of advanced HVAC controls to operate at low temperatures and reduce the levels of contamination is a key factor that increases the adoption of advanced HVAC controls in refrigerated warehouses. This will lead to the expansion of the global advanced HVAC controls market at a CAGR of over 10% during the forecast period.
The concept of smart homes is growing as the needs of consumers are changing, and they are focusing on convenience offered using electronic devices. The integration of AI platforms in advanced HVAC controls helps track the habits, behavioral characteristics, and activities of users. The use of natural language processing with HVAC systems helps in making household appliances such as air-conditioners and refrigerators more interactive among residential users. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global advanced HVAC controls market during the forecast period 2019-2023, view our report.
With the presence of several major players, the global advanced HVAC controls market is fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position. This report provides a detailed analysis of several leading advanced HVAC controls manufacturers, that include Azbil Corp., Delta Electronics Inc., Emerson Electric Co., Honeywell, International Inc., Ingersoll-Rand Plc, Johnson Controls International Plc, Lennox International Inc., Mitsubishi Electric Corp., Schneider Electric SE, Siemens AG.
Also, the advanced HVAC controls market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.