HVAC acquired the largest revenue share in the building automation systems market of Brazil in recent years – 6Wresearch.
Brazil building automation systems market witnessed a decline during the period 2017-2020 owing to reduction in commodity prices and a subsequent major decline in 2020 caused by the halt in all construction and manufacturing operations and disruptions of demand and ecosystem of building automation systems market due to the government imposed nation-wide lockdown owing to the outbreak of Covid-19. However, the market is expected to revive from 2021 with the gradual lifting of lockdown restrictions and the revival of the construction industry, which provides major application areas for building automation systems.
According to 6Wresearch, the Brazil Building Automation Systems Market size is projected to grow at a CAGR of 4.8% during 2021-2027. The rising government investment in the development of residential buildings, healthcare, tourism, and education infrastructure, would create a huge demand for efficient HVAC, security management, and fire control systems, thereby leading to a surge in demand for building automation systems in Brazil in the forthcoming years. Furthermore, the rising demand for green buildings and the growing concerns regarding global warming and the government’s targets to reduce the emissions of greenhouse gases would act as a catalyst for the adoption of building automation systems, which would further fuel the demand for building automation systems in the country.
According to Arjun Khurana, Research Associate, 6Wresearch, "By-products, HVAC control systems in Brazil building automation market had witnessed the majority revenue size in 2020 and would continue to dominate the market during the forecast period owing to the rising demand for efficient cooling and ventilation in the office buildings and commercial spaces."
"Moreover, by regions, South Eastern region acquired the maximum revenue size in the market in 2020 as this region is the hub for service sector that employ building automation systems for efficient operations of office buildings. Additionally, the increasing number of residential buildings owing to the rising housing demand due to the growing population in the region would drive the market for building automation in industrial applications in this region in the upcoming years”, Arjun further added.
According to Bhawna Singh, Research Analyst, 6Wresearch, "The commercial sector emerged as a major market revenue shareholder during the period 2017-2020, owing to growing deployment of building automation systems in service sector like banks, hospitals, hotels, among others, which accounts for 70% of the country’s gross domestic product that drives the demand for automation systems in buildings. Furthermore, the same trend is anticipated to persist over the coming years on account of rising on-going commercial projects such as Brascan Century Plaza Torre Office, Faria Lima B32 Office Tower, among others."
"Brazil Building Automation Systems Market (2021-2027)" report provides an in-depth analysis with 17 figures and 04 tables, covered in 79 pages. The report estimates and forecasts Brazil building automation systems market by-products, control technology, applications, and regions. The report provides an unbiased and detailed analysis of the ongoing trends, opportunities/ high growth areas, and market drivers, which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
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