Europe HVAC Controls Market Size

Europe HVAC Controls Market Analysis

The Europe HVAC controls market is expected to grow at 7.1% CAGR during the forecast period of 2021 - 2026. The COVID-19 pandemic disrupted various industries across the region. The pandemic significantly influenced the HVAC industry, as the demand for the systems observed a major drop during the initial months, owing to lockdown restrictions and businesses refraining from investing in new equipment. Owing to this, the HVAC services market observed a significant hit during those months. 

• The market is driven by the growing demand for remote technology, IoT usage, smart homes complemented by the growth of HVAC equipment adoption. This could be further attributed to the increase in new households, rising average construction spending, rising government spending on sustainable building development, rapid urbanization, and growth in disposable income across several European economies.
• The increased focus on smart technologies across Europe is driving the need for HVAC control systems. The control systems help optimize the management of air handling units and chiller units in domestic, commercial, and industrial settings. The need to control temperature settings according to the external atmosphere and the current occupancy is furthering the growth of the studied market.
• The HVAC control systems help reduce energy consumption costs, allowing automation of the HVAC equipment and saving the operational cost of companies. The higher efficiency level could be achieved through wireless controls and sensors in residential, commercial, and industrial settings and contributes to the broader adoption of HVAC control systems.
• The surging demand for improved energy-efficient control systems that have a low impact on the environment positively impacts the market's growth. This is favored by government legislation that stresses lowering the environmental impact of HVAC systems and could be achieved by using the HVAC controls.
• The adoption of the control systems for HVAC equipment is marked with stunted awareness amongst industry players. Alongside stipulated budget for investing in HVAC control systems, the inconsistency in awareness could create uncertainties for the acceptance of HVAC control systems.
• The COVID 19 pandemic has led to an unprecedented impact on the supply chain of industries across Europe, and the studied market was also impacted by the same. Although, the adoption of IoT-enabled devices and remote working due to the pandemic is expected to help in the revival of the market.
• Furthermore, the pandemic raised concerns of the spread of the Coronavirus through HVAC systems which were negated by various organizations. In March 2020, REHVA, the European Federation of HVAC associations, concluded that air conditioning, humidification, and duct cleaning have no considerable effect on the transmission of COVID-19. They insisted that air conditioning and humidification have no possible impact on the transmission of the virus.