While the market for advanced HVAC controls products is mature, adoption of the most modern technologies remains relatively low, except for in large buildings. HVAC controls retrofits, however, can provide a compelling value proposition through reduced energy consumption. The advanced HVAC controls market remains dependent on rates of new construction and building renovation, which in turn are driven by the overall economic conditions in each world region. The market has been negatively affected by the 2009 financial crisis and is only now beginning to experience a modest but accelerating recovery. Navigant Research forecasts that global advanced HVAC controls revenue will grow from $7.0 billion in 2014 to $12.7 billion in 2023.
This Navigant Research report analyzes the global market for advanced HVAC controls, with a focus on the following components: sensors, field devices, floor-level controllers, and building-level controllers. The study provides an analysis of the market issues, including drivers and barriers, regional trends, and the supplier landscape, associated with advanced HVAC controls. Global market forecasts for shipments and revenue, segmented by region, device type, and building type, extend through 2023. The report also examines the major technology trends and advances related to HVAC controls and profiles the key industry players.
To access the report, http://www.navigantresearch.com/research/advanced-hvac-controls.