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North America HVAC Controls Market Forecast to 2030
North America HVAC Controls Market Forecast to 2030 – Regional Analysis – by Component (Hardware and Software & Services), Installation Type (New Installation and Retrofit), System (Temperature Control System, Humidity Control System, Ventilation Control System, and Integrated Control System), and End User (Residential, Commercial, and Industrial)
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Description
Implementation of Smart, Connected, and Energy Efficient IOT-enabled HVAC Systems Drives North America HVAC Controls Market
Lighting and HVAC systems use the most energy in commercial or residential buildings. Air conditioners and electric fans contribute to ~20% of the total electricity consumption in a building. As per a report by International Energy Agency (IEA), the energy demand from air conditioners is expected to grow three times by 2050. According to the US Department of Energy (DOE), commercial buildings use energy worth US$ 190 billion annually. The growing energy consumption from HVAC systems raises electricity costs. Therefore, HVAC manufacturers are seeking ways to enhance the energy efficiency of their products and offer tools to customers that can help them monitor their devices/systems.
Implementation of IoT into HVAC systems enables remote appliance control and significantly better customer-centric services. Main advantage of integrating IoT in the energy sector is the operational insight into HVAC appliances and techniques to reduce energy usage significantly. HVAC contractors can get their devices to monitor occupancy inside the building by combining smart devices with motion sensors. The system might recommend that the customer dial down the heating (or cooling) to save energy through an app message when there is no movement for an extended time inside the building. Moreover, the controls use the most recent networking and AI technologies, enabling them to gradually learn the preferences of the tenants and adapt to their comfort requirements. HVAC manufacturers aim to grow their market share by offering consumers intelligent HVAC solutions. Implementation of machine-to-machine (M2M) connectivity with IoT in various applications supports cost savings, resource conservation, predictive maintenance, comfort control, and healthy building performance. As a result, there is a higher need for IoT-based HVAC control systems. Thus, implementation of smart, connected, and energy-efficient IoT-enabled HVAC systems bolsters the North America HVAC controls market growth.
North America HVAC Controls Market Overview
The North America HVAC controls market is segmented into the US, Canada, and Mexico. HVAC control systems are widely used across the region owing to several benefits, such as power-saving measures. The market is primarily driven by increasing housing projects, high construction spending, fast urbanization, and rising disposable income. Canada and the US are two of the top ten energy-consuming nations in the world, with the US registering the second position after China. The majority of people in the US have air conditioners. Moreover, Daikin is anticipated to increase the adoption of lower global warming potential (GWP) refrigerant R32 by creating ducted and ductless homes and light commercial and air conditioning solutions for North America. Daikin claims that the selection of R32 is consistent with its widespread popularity. Similarly, in January 2022, Daikin Applied introduced SiteLine Building Controls, a portfolio of cloud-based, scalable technologies to effortlessly monitor, connect, and manage individual HVAC equipment and integrated building systems. With SiteLine, building owners and operators will be able to access tools and insights to optimize performance, improve indoor air quality, and trim energy use and carbon emissions. The key firms operating in the market are spending tremendously on R&D and mergers and acquisitions to strengthen their positions. In January 2019, Huron Capital stated that its HVAC installations division, Pueblo Mechanical & Controls, acquired Newgaard Mechanical Inc. and CFM Mechanical LLC to expand its specialized HVAC goods and services portfolio. Similarly, the California Strategic Growth Council awarded the Electric Power Research Institute (EPRI) a US$ 4.7 million grant to develop advanced residential HVAC systems with low GWP refrigerants and conduct community studies to make the technology available to low-income people living in California. Moreover, Green HVAC systems are being created to increase energy efficiency and save energy costs. For instance, Ice Energy, a California-based company in Glendale, unveiled the Ice Bear—an ice-powered air conditioner that can cool structures while lowering their net energy usage. In North America, constant innovations are taking place in HVAC controls. HVAC controls have come a long way from manual to automatic, from programmable to smart, and toward interconnected and AI-driven systems. Thus, the HVAC control market in North America is growing significantly.
North America HVAC Controls Market Revenue and Forecast to 2030 (US$ Million)
North America HVAC Controls Market Segmentation
The North America HVAC controls market is segmented into component, installation type, system, end user, and country.
Based on component, the North America HVAC controls market is bifurcated into hardware and software & services. In 2022, the hardware and software & services segment registered a larger share in the North America HVAC controls market. The hardware is further segmented sensor, controllers, smart vents, and others.
Based on installation type, the North America HVAC controls market is bifurcated into new installation and retrofit. In 2022, the retrofit segment registered a larger share in the North America HVAC controls market.
Based on system, the North America HVAC controls market is segmented into temperature control system, humidity control system, ventilation control system, and integrated control system. In 2022, the temperature control system segment registered the largest share in the North America HVAC controls market.
Based on end user industry, the North America HVAC controls market is segmented into residential, commercial, and industrial. In 2022, the commercial segment registered the largest share in the North America HVAC controls market.
Based on country, the North America HVAC controls market is segmented into the US, Canada, and Mexico. In 2022, the US registered the largest share in the North America HVAC controls market.
Carrier Global Corporation; DAIKIN INDUSTRIES, Ltd.; Delta Controls; Acuity Brands, Inc.; Emerson Electric Co.; Honeywell International Inc.; Johnson Controls, Inc.; Schneider Electric SE; Siemens AG; and Lennox International Inc. are some of the leading companies operating in the North America HVAC controls market.
Summary Info
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According to the research team’ research, the North America HVAC controls market was valued at US$ 2,171.44 million in 2022 and is expected to reach US$ 8,613.05 million by 2030, registering a CAGR of 18.8% from 2022 to 2030. Growth in construction sector and implementation of smart, connected, and energy efficient IOT-enabled HVAC systems are the critical factors attributed to the North America HVAC controls market expansion.
In Nov 2020, Davis Center Ballroom has premier conference and event destination at Burlington undergone a construction project to reconfigure the HVAC ductwork and replace the HVAC control systems. Such adoptions of HVAC contributing to the growth of HVAC controls market worldwide. Also, the growth of the building industry is attributed to rapidly expanding urban population’s desire for a higher standard of living. Moreover, the development of commercial structures, including office buildings, movie theatres, retail malls, and recreational facilities, is accelerating the installation of HVAC systems. A few economies intend to expand their industrial sectors by fostering a welcoming business environment for foreign investors and providing assistance to domestic firms. HVAC system is one of the essential systems in the construction process. Thus, the expansion of construction activities propels the deployment of HVAC systems, which drives the growth of the North America HVAC controls market.
On the contrary, high cost and technical complexities hurdles the growth of North America HVAC controls market.
Based on component, the North America HVAC controls market is bifurcated into hardware and software & services. The hardware segment held 59.6% share of North America HVAC controls market in 2022, amassing US$ 1,293.88 million. It is projected to garner US$ 5,322.23 million by 2030 to expand at 19.3% CAGR during 2022–2030. The hardware segment is further segmented into sensor, controllers, smart vents, and others.
Based on installation type, the North America HVAC controls market is bifurcated into new installation and retrofit. The retrofit segment held 59.8% share of North America HVAC controls market in 2022, amassing US$ 1,298.68 million. It is projected to garner US$ 5,444.29 million by 2030 to expand at 19.6% CAGR during 2022–2030.
Based on system, the North America HVAC controls market is segmented into temperature control system, humidity control system, ventilation control system, and integrated control system. The temperature control system segment held 40.0% share of North America HVAC controls market in 2022, amassing US$ 868.63 million. It is projected to garner US$ 3,772.23 million by 2030 to expand at 20.1% CAGR during 2022–2030.
Based on end user industry, the North America HVAC controls market is segmented into residential, commercial, and industrial. The commercial segment held 53.9% share of North America HVAC controls market in 2022, amassing US$ 1,170.82 million. It is projected to garner US$ 4,950.53 million by 2030 to expand at 19.7% CAGR during 2022–2030.
Based on country, the North America HVAC controls market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 84.3% share of North America HVAC controls market in 2022. It was assessed at US$ 1,830.96 million in 2022 and is likely to hit US$ 7,398.30 million by 2030, exhibiting a CAGR of 19.1% CAGR during 2022–2030.
Key players operating in the North America HVAC controls market report Carrier Global Corporation; DAIKIN INDUSTRIES, Ltd.; Delta Controls; Acuity Brands, Inc.; Emerson Electric Co.; Honeywell International Inc.; Johnson Controls, Inc.; Schneider Electric SE; Siemens AG; and Lennox International Inc., among others.
o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America HVAC controls market
o Highlights key business priorities in order to assist companies to realign their business strategies
o The key findings and recommendations highlight crucial progressive industry trends in the North America HVAC controls market, thereby allowing players across the value chain to develop effective long-term strategies
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
o Scrutinize in-depth North America market trends and outlook coupled with the factors driving the HVAC controls market, as well as those hindering it
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1. Introduction
1.1 The Research Team Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America HVAC Controls Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in The Value Chain
5. North America HVAC Controls Market – Key Industry Dynamics
5.1 HVAC Controls Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Growth in Construction Sector
5.2.2 Implementation of Smart, Connected, and Energy Efficient IOT-enabled HVAC Systems
5.3 Market Restraints
5.3.1 High Cost and Technical complexities
5.4 Market Opportunities
5.4.1 Rising Adoption of Cloud Computing in HVAC
5.4.2 Development of Smart Cities
5.5 Future Trends
5.5.1 Advancement in Green Technology
5.6 Impact of Drivers and Restraints:
6. HVAC Controls Market – North America Market Analysis
6.1 North America HVAC Controls Market Revenue (US$ Million), 2022 – 2030
6.2 North America HVAC Controls Market Forecast and Analysis
7. North America HVAC Controls Market Analysis – Component
7.1 Hardware
7.1.1 Overview
7.1.2 Hardware Market, Revenue and Forecast to 2030 (US$ Million)
7.1.3 Sensor
7.1.3.1 Overview
7.1.3.2 Sensor Market, Revenue and Forecast to 2030 (US$ Million)
7.1.4 Controllers
7.1.4.1 Overview
7.1.4.2 Controllers Market, Revenue and Forecast to 2030 (US$ Million)
7.1.5 Smart Vents
7.1.5.1 Overview
7.1.5.2 Smart Vents Market, Revenue and Forecast to 2030 (US$ Million)
7.1.6 Others
7.1.6.1 Overview
7.1.6.2 Others Market, Revenue and Forecast to 2030 (US$ Million)
7.2 Software & Services
7.2.1 Overview
7.2.2 Software & Services Market, Revenue and Forecast to 2030 (US$ Million)
8. North America HVAC Controls Market Analysis – Installation Type
8.1 Retrofit
8.1.1 Overview
8.1.2 Retrofit Market Revenue, and Forecast to 2030 (US$ Million)
8.2 New Installation
8.2.1 Overview
8.2.2 New Installation Market Revenue, and Forecast to 2030 (US$ Million)
9. North America HVAC Controls Market Analysis – System
9.1 Temperature Control System
9.1.1 Overview
9.1.2 Temperature Control System Market Revenue, and Forecast to 2030 (US$ Million)
9.2 Integrated Control System
9.2.1 Overview
9.2.2 Integrated Control System Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Ventilation Control System
9.3.1 Overview
9.3.2 Ventilation Control System Market Revenue, and Forecast to 2030 (US$ Million)
9.4 Humidity Control System
9.4.1 Overview
9.4.2 Humidity Control System Market Revenue, and Forecast to 2030 (US$ Million)
10. North America HVAC Controls Market Analysis – End User
10.1 Commercial
10.1.1 Overview
10.1.2 Commercial Market Revenue, and Forecast to 2030 (US$ Million)
10.2 Industrial
10.2.1 Overview
10.2.2 Industrial Market Revenue, and Forecast to 2030 (US$ Million)
10.3 Residential
10.3.1 Overview
10.3.2 Residential Market Revenue, and Forecast to 2030 (US$ Million)
11. North America HVAC Controls Market – Country Analysis
11.1 Overview
11.1.1 North America HVAC Controls Market Revenue and Forecasts and Analysis – By Country
11.1.1.1 North America HVAC Controls Market Revenue and Forecasts and Analysis – By Country
11.1.1.2 US HVAC Controls Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.1.2.1 US HVAC Controls Market Breakdown by Component
11.1.1.2.1.1 US HVAC Controls Market Breakdown by Hardware
11.1.1.2.2 US HVAC Controls Market Breakdown by Installation Type
11.1.1.2.3 US HVAC Controls Market Breakdown by System
11.1.1.2.4 US HVAC Controls Market Breakdown by End User
11.1.1.3 Canada HVAC Controls Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.1.3.1 Canada HVAC Controls Market Breakdown by Component
11.1.1.3.1.1 Canada HVAC Controls Market Breakdown by Hardware
11.1.1.3.2 Canada HVAC Controls Market Breakdown by Installation Type
11.1.1.3.3 Canada HVAC Controls Market Breakdown by System
11.1.1.3.4 Canada HVAC Controls Market Breakdown by End User
11.1.1.4 Mexico HVAC Controls Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.1.4.1 Mexico HVAC Controls Market Breakdown by Component
11.1.1.4.1.1 Mexico HVAC Controls Market Breakdown by Hardware
11.1.1.4.2 Mexico HVAC Controls Market Breakdown by Installation Type
11.1.1.4.3 Mexico HVAC Controls Market Breakdown by System
11.1.1.4.4 Mexico HVAC Controls Market Breakdown by End User
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration
13. Industry Landscape
13.1 Overview
13.2 Market Initiatives
13.3 New Product Development
13.4 Merger and Acquisition
14. Company Profiles
14.1 Carrier Global Corporation
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 DAIKIN INDUSTRIES, Ltd.
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Delta Controls
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Acuity Brands, Inc.
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Emerson Electric Co.
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Honeywell International Inc.
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Johnson Controls, Inc.
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Schneider Electric SE
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Siemens AG
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Lennox International Inc.
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About Research Team
15.2 Word Index
LIST OF TABLES
Table 1. North America HVAC Controls Market Segmentation
Table 2. HVAC Controls Market Revenue and Forecasts To 2030 (US$ Million)
Table 3. North America HVAC Controls Market Revenue and Forecasts To 2030 (US$ Million) – Component
Table 4. North America HVAC Controls Market Revenue and Forecasts To 2030 (US$ Million) – Installation Type
Table 5. North America HVAC Controls Market Revenue and Forecasts To 2030 (US$ Million) – System
Table 6. North America HVAC Controls Market Revenue and Forecasts To 2030 (US$ Million) – End User
Table 7. North America HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 8. US HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 9. US HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 10. US HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation Type
Table 11. US HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 12. US HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 13. Canada HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 14. Canada HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 15. Canada HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation Type
Table 16. Canada HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 17. Canada HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 18. Mexico HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 19. Mexico HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 20. Mexico HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation Type
Table 21. Mexico HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 22. Mexico HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 23. Heat Map Analysis by Key Players
Table 24. List of Abbreviation
LIST OF FIGURES
Figure 1. North America HVAC Controls Market Segmentation, By Country
Figure 2. Ecosystem: North America HVAC Controls Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. North America HVAC Controls Market Revenue (US$ Million), 2022 – 2030
Figure 5. North America HVAC Controls Market Share (%) – Component, 2022 and 2030
Figure 6. Hardware Market Revenue and Forecasts To 2030 (US$ Million)
Figure 7. Sensor Market Revenue and Forecasts To 2030 (US$ Million)
Figure 8. Controllers Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9. Smart Vents Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. Software & Services Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. North America HVAC Controls Market Share (%) – Installation Type, 2022 and 2030
Figure 13. Retrofit Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. New Installation Market Revenue and Forecasts To 2030 (US$ Million)
Figure 15. North America HVAC Controls Market Share (%) – System, 2022 and 2030
Figure 16. Temperature Control System Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. Integrated Control System Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. Ventilation Control System Market Revenue and Forecasts To 2030 (US$ Million)
Figure 19. Humidity Control System Market Revenue and Forecasts To 2030 (US$ Million)
Figure 20. North America HVAC Controls Market Share (%) – End User, 2022 and 2030
Figure 21. Commercial Market Revenue and Forecasts To 2030 (US$ Million)
Figure 22. Industrial Market Revenue and Forecasts To 2030 (US$ Million)
Figure 23. Residential Market Revenue and Forecasts To 2030 (US$ Million)
Figure 24. North America HVAC Controls Market by Key Countries – Revenue (2022)
Figure 25. HVAC Controls Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 26. US HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 27. Canada HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 28. Mexico HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 29. Company Positioning & Concentration
The List of Companies – North America HVAC Controls Market
o Acuity Brands, Inc.
o Carrier Global Corporation
o DAIKIN INDUSTRIES, Ltd.
o Delta Controls
o Emerson Electric Co.
o Honeywell International Inc.
o Johnson Controls, Inc.
o Lennox International Inc.
o Schneider Electric SE
o Siemens AG
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