Study: HVAC control market poised for growth
The HVAC market is mature and stable, increasing the need for controls and BAS.
The HVAC market, like nearly all other markets, has been significantly impacted by the economic turmoil that materialized in 2008 and accelerated through the first half of 2009, according to the ARC Advisory Group . The HVAC market enjoyed a strong 2007 and early in 2008 the market looked like it was going to enjoy another strong year, but the collapse of the U.S. housing market and subsequent chain reaction of events made for a very difficult business climate for the remainder of 2008 and into 2009.
The HVAC controls industry is in the middle of a very interesting transition. The market seems to be mature and stable - the seven largest suppliers account for more than four-fifths of all sales. "However, fundamental changes taking place in the market, such as the need for enterprise visibility, integration of HVAC systems with other building automation systems, increasing use of analytics in HVAC control, energy management initiatives, and the impact of web enabled systems and cloud computing make this dynamic market ripe for innovation," according to ARC Research Analyst Joseph Gillespie, the principal author of ARC's " HVAC Control Systems Worldwide Outlook ."
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey