International.
The global climate control market is projected to increase at a compound annual growth rate (CAGR) of 8.67%, from 2016 to 2020, according to a report by Sandler Research.
In developing countries such as China, a growing need for air quality monitoring is expected to drive the growth of the climate control market, with the aim of avoiding an increase in the incidence of respiratory diseases. In the U.S., demand for advanced thermostats is expected to help drive the HVAC controls market.
Improving the efficiency of air conditioning and lighting, as well as integrating controls, reduces energy consumption and costs, improves environmental conditions, and creates a better indoor environment for building occupants.
Because HVAC consumes nearly 40% of the electricity used in commercial buildings, improved control systems can significantly reduce energy consumption and costs. The sensor segment contributed the largest share of the revenue to the market during 2015 and sensors are increasingly being used in advanced climate control systems.
