The HVAC control systems market is currently growing. This market trend is expected to continue for some time. Every five years analysts indicate that there will be at least a 5% growth in the HVAC controls market. It is expected that developing countries are likely to register the highest rate of growth in the HVAC controls market over the next five years. Construction is on the rise, which has contributed significantly to the growth in the market. With the current expansion and growth in the controls market, there has been development of more advanced technology that improves on HVAC systems.
Trane Company has been in building integration for a considerably long time. It has, however, recently branded itself as both an air conditioning company and a control systems company. Companies have been able to successfully combine the manufacturing business and the integration business due to the use of the open protocol systems. As a matter of fact, companies are investing heavily in the controls market, as it appears to be a big business opportunity. There are three main reasons that triggered the controls market growth. They include the ability to store a high capacity of data, very high internet speeds, and interfaces that are web-enabled.
Key industry players predict that there will be a drastic change in the way HVAC systems are used as new technology is introduced. It is now possible to easily monitor the equipment by use of a remote. As a matter of fact, soon the equipment will be able to communicate with the manufacturers about defects and immediate attention will be given.
There are possible hindrances that can have adverse effects on the growth of the HVAC controls market. Some of these hindrances include the slackened or stagnant growth in the world’s major economies. Due to the looming fuel crisis major world economies have stood to lose a lot in terms of growth. This has been transferred to every other field and the controls market is slowly being affected. However, since new systems use Building Automation Systems, the overall costs of energy and maintenance are cut greatly. In an attempt to save money many buildings, both commercial and residential, are being installed with new HVAC systems. This is further contributing to the growth of the market.
