Heating, ventilation, and air conditioning (HVAC) control system is an automated mechanism for controlling the heating and cooling systems. They comprise energy sources, sensors, control valves, and equipment in the HVAC controls market. A few standard HVAC systems include ventilation, humidity, temperature, and integration. They are frequently used to keep an enclosed space at the ideal temperature, monitor and adjust HVAC performance, and provide a comfortable environment. HVAC control systems have sensors that allow them to compare the area’s actual temperature with a target temperature and take appropriate action. Electronic, pneumatic, and direct-acting systems are a few widely used control systems in the HVAC controls market. HVAC controls are frequently employed in various business sectors, including hospitality, corporations, retail, and residential in the HVAC controls market.
The HVAC controls market is expected to grow from US$ 6,500.0 million in 2021 to US$ 20,126.56 million by 2028; it is estimated to grow at a CAGR of 17.63% from 2022 to 2028.
Impact of COVID-19 Pandemic on HVAC Controls Market
The emergence of the COVID-19 created enormous disruption across industries, including electronics & semiconductors. Every phase of the business witnessed drastic change, including the manufacturing units, capital expenditures, R&D, demand, supply chain, production decisions, and mergers and acquisitions (M&A). Over the past several months, the COVID-19 outbreak severely challenged the electronics and manufacturers’ strategy making. The disruption among the raw material suppliers, temporary closure of manufacturing units, limited funding, and weak customer demand adversely impacted the electronics and semiconductor manufacturers in the HVAC controls market.
The HVAC controls market players focus on new product innovations and developments by integrating advanced technologies and features to compete with the competitors. In May 2022, Daikin announced its recent investment in Wlab Ltd., a startup company providing airborne allergy detection sensors. This investment accelerates the growth of Daikin in the AC business solutions.
Other Mentioned Players are – Carrier, Daikin, Delta Controls, Distech Control Inc., Emerson Electric Co., Honeywell International Inc,, Johnson Controls, Lennox International Inc, Siemens AG, Schneider Electric
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