The global advanced HVAC controls market size is poised to grow by USD 4.81 billion during 2020-2024, progressing at a CAGR of over 8% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Advanced HVAC Controls Market 2020-2024 (Graphic: Business Wire)
Refrigerated warehouses are increasingly adopting advanced HVAC controls because of their ability to operate at low temperatures and reduce contamination levels. Firms across the food and pharmaceutical industries must maintain a hygienic and contamination-free environment in warehouses. Food products such as ice cream and sea produce need to be maintained at temperatures as low as -31 oF. As workers find it challenging to work at such low temperatures, advanced HVAC controls are deployed in refrigerated warehouses. With the expected growth of the refrigerated warehousing market, the advanced HVAC control market will witness steady growth during the forecast period.
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The major advanced HVAC controls market growth came from the sensors segment. Sensors play a major role in the performance of advanced HVAC controls as they provide data for efficient operations and tasks to be performed in various conditions. A wide verity of sensors are used in HVAC system controls, which include temperature, humidity, occupancy, carbon dioxide, and VOC sensors; pressure sensors; network sensors; dew point sensors; and wireless connectivity