New construction segment held the largest share of HVAC controls market

The HVAC controls industry, based on implementation type, is led by the new construction segment (in terms of size). Rapid infrastructural developments, improved standard of living, and increased focus on developing energy-efficient HVAC systems are fueling the growth of the HVAC controls market for new construction. Various government regulations to implement energy-efficient HVAC systems and controls have resulted in the wide adoption of HVAC controls in new buildings.