Explore the latest findings from MarketsandMarkets' research report on the HVAC controls market, shedding light on its current status and future prospects. According to the report titled "HVAC Controls Market by Component, System, Implementation Type, Application, and Region - Global Forecast to 2027," the market is set to undergo significant growth, with an estimated value of USD 26.7 billion by 2027, marking a robust CAGR of 9.2% from 2022 to 2027.

One of the key drivers propelling market growth is the burgeoning construction sector, coupled with the increased adoption of HVAC controls. Furthermore, the integration of IoT-enabled HVAC systems, along with the rising demand for energy-efficient solutions in buildings and building automation systems (BAS), further fuels market expansion.

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Key Highlights:

Government Initiatives for Sustainable HVAC Systems: Governments worldwide are focusing on reducing greenhouse gas emissions and incentivizing sustainable HVAC technologies, driving the adoption of energy-efficient HVAC systems.

Controllers and Controlled Equipment: This segment is expected to dominate the market share during the forecast period, with innovations such as electrically actuated HVAC/BAC control valves contributing to its growth.

Rise of Integrated Control Systems: Integrated control systems, particularly in smart homes, are projected to witness substantial growth, driven by the increasing adoption of smart technologies and collaborations between HVAC providers and IoT industries.

Commercial Applications Driving Market Growth: The commercial application segment, fueled by the construction of smart and green buildings, is expected to witness significant growth, with HVAC controls playing a crucial role in optimizing energy consumption.

APAC Emerging as a Key Market: Asia Pacific (APAC) is poised to lead the global HVAC controls market, with China spearheading market growth. Strategic contracts, such as Carrier China's USD 17 million deal for variable refrigerant flow (VRF) systems, underscore the region's pivotal role in market expansion.

Key Players:

The HVAC controls market boasts a robust presence of major players, including Honeywell International Inc., Johnson Controls, Siemens, Carrier, Emerson Electric Co., and others. Their contributions and innovations continue to shape the HVAC controls landscape, driving advancements and market growth.