According to a recent report from Navigant Research, worldwide annual revenue from advanced HVAC controls is expected to grow from $7 billion in 2014 to $11.7 billion in 2023.
“Although advanced controls technology for HVAC systems has been available for some time, adoption remains relatively low,” Benjamin Freas, research analyst with Navigant Research, said. “The drive to reduce energy use in commercial buildings has put a spotlight on improving the efficiency of HVAC systems, and HVAC controls retrofits offer a compelling value proposition through reduced energy consumption in existing buildings.”
According to the report, “Advanced HVAC Controls,” new-building certification and benchmarking regulations are driving faster retrofits of controls in existing buildings and changing how automation is designed into new buildings. The wider adoption of open standards for controls functions, such as BACnet, and of communications based on the Internet Protocol suite and Ethernet connectivity is expected to help bring advanced HVAC technology to a wider market.
The report analyzes the global market for remote advanced HVAC controls, segmented by equipment type—sensors, field devices, floor-level controllers, building-level controllers—as well as building use—office, retail, education, health care, hotels and restaurants, institutional/assembly, warehouse, transport—in each major world region. The report provides an analysis of the market issues, including technology advances, opportunities, and barriers, associated with advanced HVAC controls. Global market forecasts for unit shipments and revenue, segmented by device type and by region, extend through 2023.
An executive summary of the report is available for free download at http://www.navigantresearch.com/research/advanced-hvac-controls.