The market for building control systems saw healthy growth in 2022, according to the latest Market Information Service report from the Building Controls Industry Association.
The annual report for 2022 estimated that the building energy management system sector is now worth around £835.8 million to the UK economy, representing an increase of 8% from the 2021 figure.
Despite this growth, rising costs within the construction industry could have a knock-on impact for the building controls market. That’s because construction output in Q3 2023 remained fairly static when compared to Q2 2023, increasing just 0.2%. However, the rolling year trend is more positive, with an increase of 15% compared to the year ending Q2 2022.
That has led Graeme Rees, BCIA President, to be upbeat about the future of the industry. In a statement commenting on the release of the new report, he noted, “Whilst there will always be market fluctuations throughout a calendar year, the rolling year trajectory is undoubtedly positive. This is a reflection of the growing understanding of the role building controls have in creating a greener and more sustainable built environment that will be crucial in helping the UK on its journey to net zero.”
Building Controls Industry Association members can read the full Market Information Service report on their members portal over on the BCIA website.