Global Commercial Building Automation Equipment Market Size, Share, and COVID-19 Impact Analysis, By Product Type (HVAC, Building Management Systems, Security and Access Control Systems, Fire Control Systems, Energy Management Systems, Lighting Management Systems & Others), By Application (Corporates, Retail, Airports, Hospital, Real Estate & Others), and by Region (North America, Europe, Asia-Pacific, South America, Middle East, and Africa) Analysis and Forecast 2022-2030

KEY MARKET INSIGHTS

The global commercial building automation equipment market was valued at USD 35.56 Billion in 2021 and is projected to reach USD 83.34 Billion by 2030, at a CAGR of 8.4%. Commercial building automation offers services for temperature control and regulation, energy and load management, blind and shutter control, security and fault monitoring, and lighting control and regulation. Implementing a smart commercial building automation system will save operational costs. Waste can be reduced with little effort by using a building automation system to control indoor temperatures and lighting in accordance with occupancy, the season, or other significant considerations. Building control systems manage the usage of heating, cooling, and lighting systems to maintain spaces' comfort and functionality while promoting productivity. When these spaces are not in use, energy is conserved.

COVID-19 ANALYSIS

The commercial building automation equipment industry has been badly impacted by the COVID-19 outbreak. All construction activities have been put on hold as a result of strict lockdowns and supply chain interruption. Commercial building automation market manufacturers are making up for the losses brought on by the epidemic. In the commercial building automation equipment industry, the majority of leading firms are making efforts to restart their abandoned projects. Manufacturers in the commercial building automation market will have plenty of profitable income prospects in the future years.

TREND

Surging Smart Buildings Across the Globe to Propel Growth

The most recent smart building solutions make use of cutting-edge technologies like IoT, Big Data, cloud computing, data analytics, deep learning, and artificial intelligence for energy conservation, decreased operational costs, increased occupant comfort, and compliance with ever-stricter international regulations and sustainability standards.

DRIVERS

Increased Construction Activities Poses Growth Opportunities

Increase in commercial building construction activities, rising desire for reduced construction running costs, and rising demand for comfort and satisfaction. For many years, there has been building automation. New technologies have, however, been established as a result of considerations including energy conservation and regulations for green building.

Government Support for Green Buildings Perseveres Growth

The main factors influencing the market under study are government initiatives to promote green buildings and an increase in green building development by a few different organizations. Green buildings are constructed utilizing repurposed waste materials from construction sites. In addition to commercial buildings, private buildings and workplaces also showed increased interest in green building materials.

RESTRAINT

Concerns of High Installation Costs Across SMEs to Hinder Growth

Building automation technologies contribute to energy conservation and lower operating and maintenance expenses. The installation costs are significant due to misinformed impression among end users and building owners which is hampering the market growth of the global commercial building automation equipment market.

SEGMENTATION INSIGHTS

Based on the product type, the market is categorized into HVAC, building management systems, security and access control systems, fire control systems, energy management systems, Lighting Management Systems & others. Based on application, the market is categorized into corporates, retail, airports, hospital, real estate & others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.

REGIONAL INSIGHTS

The global commercial building automation equipment market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America is expected to dominate the market share of global commercial building automation equipment market owing to the presence of major players and increased construction expenditure. Increasing automation services such as HVAC systems facilitate adequate air circulation, regulated HVAC systems aid in the automatic management of room temperatures, and they also contribute to energy conservation. Due to all these benefits, customers in North America are increasingly choosing to install HVAC systems in their homes, workplaces, and industries. All these benefits are courtesy of the market for building automation systems' expansion in North America.

However, Asia-Pacific is anticipated to emerge as the fastest-growing region over the forecast period. The market is driven by the demand for building automation systems in the area has been spurred by the growing adoption of the Internet of Things (IoT) and cutting-edge lighting solutions in commercial buildings and the industrial sector. Cities in China and India continue to be the ideal combination of affordable land, excellent infrastructure, and a lower labor expenditure to draw investments in industrial development. Building automation system adoption in APAC has been spurred by the region's strong economic growth, expanding infrastructure, and new construction.

LIST OF KEY COMPANIES PROFILED:

· ABB

· AMETEK.Inc.

· Beckhoff Automation

· Bosch Sicherheitssysteme GmbH

· Emerson Electric Co

· Endress+Hauser Group Services AG

· GVS Group

· HDL Automation

· Honeywell International Inc.

· Johnson Controls

· Mitsubishi Electric Corporation

· Rockwell Automation, Inc.

· Schneider Electric

· Siemens

· Texas Instruments Incorporated

· Trane

· Yokogawa India Ltd.

· Others

KEY INDUSTRY DEVELOPMENTS:

June 2022-

• Yokogawa Electric Corporation launched cloud-based plant asset monitoring service, OpreX™ Asset Health Insights which collects and refines distributed assets. It also offers real-time connection with assets and improves the lifecycle of any asset.
• ABB partnered with BE Partners to provide commercial building sector solution suppliers the chance to join the ABB AbilityTM Building Ecosystem and advance the development of sustainable and carbon-neutral buildings.

December 2021- AMETEK acquired Alphasense to expand their presence in the attractive environmental health and safety market.

July 2021- Johnson Controls launched OpenBlue Net Zero Buildings as a Service that will offer a one-stop shop for solution seeking to meet the renewable energy and net zero carbon targets covering entire range of sustainability capabilities, including onsite renewable energy integration, increased energy efficiency, building electrification, offsite renewable energy integration, and grid interaction.

January 2019- Honeywell launched Zio® TR120 Wall Module designed for use in commercial buildings which provides a color touchscreen wall module solution with an easy-to-use interface that is more contemporary, practical, and versatile.

SEGMENTATION

By Product Type

• HVAC
• Building Management Systems
• Security and Access Control Systems
• Fire Control Systems
• Energy Management Systems
• Lighting Management Systemss
• Others

By Application

• Corporates
• Retail
• Airports
• Hospital
• Real Estate
• Others

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa