Replacement Demand to Drive the Advanced HVAC Control Market
Market will rely on retrofits, replacements, and incremental upgrades to existing facilities
LONDON — The global advanced HVAC control market is expected to reach close to $12.2 billion in revenue by 2020, according to the latest research study released by Technavio. The report provides an in-depth analysis of market growth in terms of revenue and emerging trends. It also includes an analysis of various market segments.
“The need for replacing aging infrastructure provides high opportunity to vendors to gain profitability through retrofits and replacements. The advanced HVAC control system market in North America and Europe will likely revive in the future with the rise in construction activities in these regions. Until then, the market will rely on retrofits, replacements, and incremental upgrades to existing facilities,” said Anju Ajaykumar, one of Technavio’s lead analysts.