HVAC Controls Market Dynamics: Increasing Adoption of Smart Devices

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MarketsandMarkets Presents

HVAC Controls Market Dynamics Increasing
Adoption of Smart Devices HVAC Controls Market
by System (Temperature, Ventilation, Humidity,
Integrated Controls), Component (Sensors, and
Controllers Controlled Devices), Implementation
Type (New Construction, Retrofit), Application,
and Geography - Global Forecast to 2023
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The HVAC controls market is mainly dependent on
HVAC equipment, as they are a vital part of HVAC
systems. The demand for HVAC equipment is
increasing because of the boom in the
construction sector across the globe. Increasing
urbanization in developing countries of APAC has
created a huge demand for HVAC equipment. For
instance, upcoming projects in India related to
smart cities, bullet trains, and infrastructural
development are fueling the growth of the HVAC
equipment and controls market in this country.
Population growth and urbanization are driving
the market for HVAC equipment and, eventually,
the market for HVAC controls. An increasing
number of publicprivate partnership (PPP)
projects are boosting the construction sector in
the Middle East. The Tarif International Airport
construction project in Saudi Arabia is a prime
example of a PPP project, which includes the
construction of the airport to handle 5 million
passengers yearly. Several construction projects
are getting implemented in Qatar because of the
2022 FIFA World Cup. Suspended construction
projects in the UAE due to the global economic
crisis have been fully recovered. Such boom in
the construction sector is fueling the demand for
HVAC equipment, thus driving the HVAC controls
market growth. Browse 109 market data Tables
and 63 Figures spread through 161 Pages and
in-depth TOC on "HVAC Controls Market - Global
Forecast to 2023"
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Lack of awareness about the benefits of HVAC
controls Global warming and energy-saving have
become major issues to be handled globally.
However, awareness regarding the use of effective
HVAC systems and controls is low. The
implementation of HVAC in residential buildings
in developed countries is high however, because
of the high cost associated with the
implementation of HVAC, the adoption is low even
though the environmental benefits are high.
Setting up an HVAC system in a building is a part
of a subcontract given to a specialized company
by contractors. However, a majority of
subcontracting companies lack technical expertise
and also have the financial budget issue, which
lead to the implementation of ineffective HVAC
systems and controls. Additionally, with respect
to contractors of HVAC systems, there is a lack
of awareness regarding the standards for HVAC.
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HVAC construction firms are unaware of the latest
SEER standards, which would ultimately hamper
their business. These factors are hindering the
adoption of HVAC controls, which leads to the
setting up of HVAC equipment with manual
operation systems. However, governments support
the adoption of HVAC systems by providing tax
credits and rolling out regulations and standards.
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Increasing adoption of smart devices Continuous
development of technologies and rapid innovation
in various devices have increased the interest of
customers toward the use of devices such as
smartphones in HVAC. Inability to understand the
technicality of devices and handle HVAC systems
in a building has given rise to the concept of
smart devices such as smartphone, smart
thermostat, and smart meter. Smart devices
deliver real-time data and enable a user to
remotely manage HVAC systems. In case of
commercial buildings, smart devices help gather
information in the cloud architecture and send it
to a facility manager (FM)of a building this
enables the FM to optimize the energy consumption
in the building. The trend of remotely handling
HVAC controls in a residential building has
increased owing to the high use of smartphones.
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plications of the aforementioned devices in
commercial buildings allow operators to collect
data over time and optimize energy consumption.
The use of Wi-Fi thermostat and programmable
thermostat via smart phones helps in managing and
saving energy. Honeywell, Emerson, Venstar,
Danfoss. and Rheem Manufacturing Company are some
of the companies that develop smart devices,
including color touch thermostat and
voice-enabled thermostat.
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