HVAC Controls Market Size & Share, by Type (Temperature & Humidity Control, Ventilation Control, Integrated Control); Implementation (Retrofit, New Construction); End-user (Commercial, Residential, Industrial) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3477
  • Published Date: Aug 21, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

HVAC Controls Market size is poised to cross USD 45 Billion by the end of 2035, growing at a CAGR of 9% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of HVAC controls was USD 16 Billion. The reason behind the growth is impelled by the increasing ratio of smart homes throughout the world. Smart homes have an impact on daily routines which utilizes a smart home system that can be operated remotely and automate operations to assure constant comfort in the home. This can lead to higher adoption of HVAC systems that can be integrated into home automation systems.

For instance, the proportion of smart homes surpassed around 178 million across the globe in the year 2022. 

The globally rising construction of residential buildings is believed to fuel market growth. A radical increase in worldwide population has been observed which has doubled the construction of residential buildings within the past few decades in various regions of the world. Urban areas have been densely populated as a result of such a massive increase in the construction of residential buildings. Such an increase has been influencing the rise in the demand for HVAC control systems for the smooth functioning of several heating, ventilation, and cooling devices.

For instance, new residential construction in the United States was predicted to soar by approximately USD 89 billion in 2022.

HVAC Controls Market
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HVAC Controls Sector: Growth Drivers and Challenges

Growth Drivers

  • Global Effect of Climate Change– The massive rise in industrialization and urbanization has increased the ratio of carbon emissions in the environment. The issue of carbon has doubled the problem of climatic change within the past few decades. Owing to rising temperatures and the unpredictability of the weather, HVAC equipment has become a utility rather than a luxury, which is anticipated to fuel the market growth during the projected time frame. For instance, the earth's surface temperature in 2020 was about 0.97 Celsius degrees higher than it was on average during the 20th century.
  • Escalating Adoption of Smart Thermostats- A smart thermostat is completely a Wi-Fi-enabled device that can manage and control the heating and cooling of a smart home for optimal performance and tracking of energy consumption. As of these multiple advantages the integration of smart thermostats has been growing in residential, and commercial spaces, which is also projected to skyrocket market growth in the coming years. According to a survey statistic, in Germany, approximately 18% of homes had fitted smart thermostats by 2021.


  • Associated Complexities in Upgradation of HVAC Control Systems - HVAC controls have varied types of sensors and equipment that regulate airflow, temperature, and so on. Such complex configuration is also very sensitive to electrical issues. Thus, such complexities make it difficult to upgrade the existing HVAC control systems, which is estimated to hinder market growth in the coming years. 
  • High Cost of HVAC Controls
  • Lack of Skilled Professionals for Appropriate Installation and Retrofitting of HVAC Controls

HVAC Controls Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2022)

~ USD 16 Billion

Forecast Year Market Size (2035)

~ USD 45 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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HVAC Controls Segmentation

Type (Integrated Control, Temperature & Humidity Control, Ventilation Control)

The temperature & humidity control segment is estimated to hold 48% share of the global HVAC controls market in the coming years owing to the increasing adoption of heating and cooling systems such as air conditioners, furnaces, storage water heaters, and so on throughout the world. The ability of an HVAC system to remove humidity, maintain ideal indoor air quality, and guard against health and safety risks, has led to a higher demand for HVAC temperature & humidity control systems.

Moreover, it helps in efficiently regulating the temperature and also results in energy savings by lowering the need for excessive usage of heating and cooling systems. For instance, in the United States, the total shipments of gas-warm air furnaces reached approximately 379,295 units in December 2020. Whereas, the worldwide demand for room air conditioners grossed nearly 96.5 million units in 2021.

End-User (Residential, Industrial, Commercial)

The commercial HVAC controls market is set to garner a notable share of 50% shortly on the account of rapid globalization. As a result, there is more demand for HVAC systems in commercial settings since they are essential to control the environment in a business building to maintain comfortable working conditions. Moreover, commercial structures need to function well during their full lifespan, therefore they require HVAC control systems to optimize energy management in commercial buildings, which lowers running costs and ensures occupant comfort and health.

Our in-depth analysis of the global market includes the following segments:


  • Temperature & Humidity Control
  • Ventilation Control
  • Integrated Control


  • Retrofit
  • New Construction


  • Commercial
  • Residential
  • Industrial

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HVAC Controls Industry- Regional Synopsis

APAC Market Forecast

HVAC Controls market in Asia Pacific is predicted to account for the largest share of 45% by 2035 impelled by the expanding industrialization in the various countries. This would increase the need for efficient temperature regulation in residential and commercial spaces which may increase the demand for HVAC control in the region to ensure sustainable operations Bangladesh's industrial sector expanded by around 7.2% in 2020. In contrast, Vietnam saw a nearly 5% boost in the same.

North American Market Statistics

The North America HVAC controls market is estimated to hold the second largest of 25%, during the forecast timeframe led by the increasing frequency of commercial construction activities. HVAC systems are a crucial component of contemporary structures since large-capacity buildings require sufficient ventilation, this may increase the demand for HVAC control systems in the region to make sure that people who spend a lot of time in business buildings may do so in a relaxed and controlled setting. For instance, in 2020, the proportion of commercial buildings in the United States increased to around 6 million.

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HVAC Controls Market Size
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Companies Dominating the HVAC Controls Landscape

    • Schneider Electric SE
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Honeywell International Inc.
    • Siemens AG
    • Carrier Global Corporation
    • Emerson Electric Co.
    • Lennox International Inc.
    • Delta Controls Inc.
    • Johnson Controls International plc
    • Danfoss A/S


In The News

  • Honeywell International Inc. has collaborated with DunAn Environment Co., Ltd. to facilitate the adoption of the non-flammable, low-GWP refrigerant Solstice N41 for the HVAC industry. Solstice N14 is a substitution for R-410A in static air conditioning systems, with global warming mitigation at almost 65%.
  • Lennox International Inc. introduced the Lennox S40 Smart Thermostat and accessories, along with the Lennox Smart Air Quality Monitor and the Lennox Smart Room Sensor, to its industry-leading portfolio of smart devices.

Author Credits:  Rushikesh, Richa Gupta

  • Report ID: 3477
  • Published Date: Aug 21, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing ratio of smart homes throughout the world and the globally rising construction of residential buildings are the major factors driving the growth of the market.

The market size of HVAC Controls is anticipated to attain a CAGR of 9% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Honeywell International Inc., Siemens AG, Carrier Global Corporation, Emerson Electric Co., Lennox International Inc., Delta Controls Inc., Johnson Controls International plc, Danfoss A/S.

The temperature & humidity control segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
HVAC Controls Market Report Scope

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