Report : South America HVAC Controls Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component Type (Sensors, Controllers, Smart Vents, and Others), 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)
At 16.1% CAGR, the South America HVAC Controls Market is speculated to be worth US$ 1,102.18 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the SAM HVAC controls market was valued at US$ 450.06 million in 2022 and is expected to reach US$ 1,102.18 million by 2028, registering an annual growth rate of 16.1% from 2022 to 2028. Growth in construction sector and implementation of smart, connected, and energy efficient IOT-enabled HVAC systems.
Implementation of IoT into the HVAC sector enables remote appliance control and significantly better customer-centric services. The main advantages of integrating IoT in the energy sector are the operational insight into HVAC appliances and techniques to significantly reduce energy usage. For instance, 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 readily 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. Lighting and HVAC systems use the most energy in commercial or residential buildings. The 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 will drive the demand for HVAC controls market. This is expected to drive the market during the forecast period.
On the contrary, lack of awareness among end-users leads to low HVAC controls adoption hurdles the growth of SAM HVAC controls market.
Based on component type, the SAM HVAC controls market is divided into sensors, controllers, smart vents, and others. The smart vents HVAC controls segment held 26.2% market share in 2022, amassing US$ 108.00 million. It is projected to garner US$ 203.43 million by 2028 to expand at 9.5% CAGR during 2022–2028.
Based on installation type, the SAM HVAC controls market is categorized into new installation and retrofit. The new installation segment held 61.6% market share in 2022, amassing US$ 277.40 million. It is projected to garner US$ 488.64 million by 2028 to expand at 9.9% CAGR during 2022–2028.
Based on system, the SAM HVAC controls market is categorized into temperature control system, humidity control system, ventilation control system, and integrated control system. The humidity control system segment held 33.9% market share in 2022, amassing US$ 152.48 million. It is projected to garner US$ 313.08 million by 2028 to expand at 12.7% CAGR during 2022–2028.
Based on end user, the SAM HVAC controls market is categorized into residential, commercial, and industrial. The commercial segment held 50.7% market share in 2022, amassing US$ 228.28 million. It is projected to garner US$ 464.00 million by 2028 to expand at 12.5% CAGR during 2022–2028
Based on country, the SAM HVAC controls market has been categorized into the Brazil, Argentina, and Rest of SAM. Our regional analysis states that Brazil captured 52.8% market share in 2022. It was assessed at US$ 237.75 million in 2022 and is likely to hit US$ 759.79 million by 2028, exhibiting a CAGR of 21.4% during the forecast period.
Key players dominating the SAM HVAC controls market are Carrier Global Corporation; DAIKIN INDUSTRIES, Ltd.; Delta Controls; Distech Control; Emerson Electric Co.; Honeywell International Inc.; Johnson Controls, Inc.; Schneider Electric SE; Siemens AG; and Lennox International Inc. among others.
- In June 2022, Liechtenstein chooses sustainable and future-proof Siemens power distribution.
- In June 2022, Carrier Launches Certified Healthy Air Systems Program - Verifying Building Systems to Drive Healthy Indoor Air Quality.
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