A new report from Markets and Markets outlines the HVAC controls market forecast growth at a CAGR of 10.5% over the next five years, from $14.8 billion to $24.4 billion by 2025. The demand is on a global scale, influenced by new commercial construction, demand for smart home control technologies and the impact of the pandemic.
New Construction in APAC Lead HVAC Controls Market Forecast
Rural areas in developing countries, especially in the Asia-Pacific region (APAC), are leading the growth in HVAC control systems. Taking a proactive approach, new construction builders across the world are incorporating smart and automation systems into their commercial, industrial and residential designs.
For example, India is currently developing urban smart cities in each state, with a goal of increasing energy efficiency and reducing emissions. This move is leading to more demand and investment in new HVAC equipment and smart HVAC controls.
The Indian government wants to develop a ‘green city’ in every state of the country, powered by renewable energy.— The Wire (@thewire_in) December 25, 2020
The ‘green city’ will mainstream environment-friendly power and electric mobility enabled public transport systems.https://t.co/onrTStoeFd
Demand for HVAC Controls Systems
HVAC control systems are in global demand because they help users, businesses, homeowners, and cities improve energy efficiency and reduce their carbon footprint, all while providing better control over their comfort.
For some homeowners, smart-home tech has become a hobby. But integrating devices can take time—and a little savvy. Is it time to hire a professional? https://t.co/zbrV5enLiz— REALTOR® Magazine (@realtormag) December 29, 2020
As an HVAC contractor, it’s important to stay up-to-date on technological advances in the HVAC products your clients are interested in. Promote the reasons why your professional installation is important to properly integrate these systems. This includes:
- Integrated smart control systems
- Smart vents
- Control Valves
The emergence and demand for these WiFi, IoT, cloud computing products will lead to more advances and product launches over the next five years.
Impact of the Pandemic
Homeowners and businesses across the world are looking for solutions to keep their indoor air clean. The impact of the pandemic has created a huge interest in indoor air quality and maintaining or retrofitting HVAC systems. HVAC control systems directly impact the way indoor spaces are ventilated, purified and filtered. By knowing how to speak about these systems and products, you can effectively sell them. Coupling knowledge of control systems with IAQ training, and you can differentiate yourself and your business from your competition.