North America HVAC Controls Market Size, Share & Industry Trends Analysis Report By Application, By Component (Controllers & Controlled Equipment and Sensors), By Implementation Type, By System, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America HVAC Controls Market would witness market growth of 8.5% CAGR during the forecast period (2022-2028).
These Digital Device controllers (DDC) groups can be networked or not and still constitute a layer of systems. This "subsystem" is essential to the entire HVAC system's functionality and fundamental operation. The "brain" of the HVAC system is the DDC system. Every damper and valve in a system must be installed at a certain location as decided by the DDCs. It determines the type, speed, and capacity of fans, pumps, and chillers that operate.
This has transformed the idea of controls and made it easier to make way for building automation. Smart HVAC systems have the ability to automate HVAC controls and anticipate when maintenance is necessary before any serious problems begin to damage the system. This modern technological development can eliminate interruptions during routine checkup downtime. The planning, execution, and management of these processes are integrated into one or more HVAC systems in contemporary structures.
The need for HVAC systems is growing in a variety of industries, including the manufacturing, real estate, and service sectors, as a result of factors like the desire for convenience, rising heating costs, and rising disposable income. The highest contribution and penetration rate for heating HVAC equipment is in North America. Given the rising cost of building, continued development is anticipated to produce quick gains. As per the US Department of Energy and ENERGY STAR, Three million heating and cooling systems are replaced each year in the US, and tens of billion are spent on HVAC servicing and repairs.
The US market dominated the North America HVAC Controls Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5,876 million by 2028. The Canada market is poised to grow at a CAGR of 10.5% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 10.3% during (2022 - 2028).
Based on Application, the market is segmented into Commercial, Industrial, and Residential. Based on Component, the market is segmented into Controllers & Controlled Equipment and Sensors. Based on Implementation Type, the market is segmented into New Construction and Retrofit. Based on System, the market is segmented into Temperature Control System, Ventilation Control System, Humidity Control System, and Integrated Control System. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global HVAC Controls Market is Estimated to reach $28.9 Billion by 2028, at a CAGR of 9.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., LG Electronics, Inc. (LG Corporation), Siemens AG, Schneider Electric SE, Emerson Electric Co., Johnson Controls International PLC, Trane Technologies PLC, Daikin Industries, Ltd., Mitsubishi Electric Corporation, and Carrier Global Corporation.
Scope of the Study
Market Segments Covered in the Report:
- Controllers & Controlled Equipment
By Implementation Type
- New Construction
- Temperature Control System
- Ventilation Control System
- Humidity Control System
- Integrated Control System
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Honeywell International, Inc.
- LG Electronics, Inc. (LG Corporation)
- Siemens AG
- Schneider Electric SE
- Emerson Electric Co.
- Johnson Controls International PLC
- Trane Technologies PLC
- Daikin Industries, Ltd.
- Mitsubishi Electric Corporation
- Carrier Global Corporation
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