The global HVAC control market is expected to witness a CAGR of 10.6% during the forecast period. The HVAC controls are adopted for automation and control heating, ventilation, and air conditioning of several buildings. The equipment used for this purpose includes controlled equipment, sensors, and control devices, such as thermostats, control valves, and controllers. The rising population in emerging economies like India, China, Mexico, Brazil, etc. has led to robust industrialization, resulting in the development of the industrial sector and a surge in the demand for HVAC controls. Governments all across the world are also assisting in the development of industrial infrastructure.

For example, in October 2020, the Indian government is expected to invest $1.4 trillion in infrastructure development over the next five years. Also, in August 2020, Tokyo International Conference on African Development (TICAD) announced will invest $20 billion in Africa over the next three years. During the projected period, this is expected to support the HVAC control market's growth. The increasing trend of smartphones during the COVID-19 pandemic has propelled the growth of the HVAC controls market. Furthermore, growth in the construction sector, development of IoT-enabled HVAC systems, rising need to attain energy efficiency in buildings will accelerate the growth of the HVAC controls market. Thus, these factors have propelled the growth of HVAC controls in industrial, residential, and commercial applications.

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The COVID-19 outbreak has halted the production in various industry verticals resulted in a decline in the growth of the HVAC controls. However, the market is anticipated to grow moderately once the end-user industries will recover from the impact of the crisis.

Based on the system, the global HVAC controls market is segmented into temperature control systems, ventilation control systems, humidity control systems, and integrated control systems. The temperature and humidity control system contributes to the largest share during the forecast period 2021-2027 owing to the increasing usage of heating and cooling equipment globally. Moreover, the businesses are focusing on providing systems that combine temperature and humidity control capabilities in a single unit. Munters offers the ML Plus System, a compact, standardized standalone dehumidification system that also controls temperature and humidity.

APAC is anticipated to grow at a faster pace owing to technological development and focus on energy-efficient products that will fuel the growth of the HVAC controls market in the region. The mounting population in emerging economies, environmental awareness, and rising adoption of green buildings and initiatives by the government in regulating energy-efficient practices in the commercial sector will propel the growth in the region.

Some of the major players in the global HVAC Control market include DAIKIN INDUSTRIES, Ltd., Johnson Controls, Emerson Electric Co, Honeywell International Inc., Schneider Electric, Siemens, Trane Technologies plc, Carrier, ACUITY BRANDS LIGHTING, INC, and Lennox International Inc.