HVAC equipment market
In a typical building, about 40% of the energy is used for heating, ventilation, and air conditioning (HVAC).
The market for HVAC systems will reach US$155.10 billion dollars by 2020. In 2013, the global HVAC equipment market stood at US$91.30 billion. The CAGR of the HVAC equipment market through this seven-year period is pegged at 6.2%.
Smart buildings will require a never-before-seen degree of innovation in the HVAC Equipment Market. The construction industry has turned a corner with smart industrial, commercial, and residential buildings. The profound effect of this change is already visible – smart devices for homes and commercial buildings are making their presence felt on the market. However, this trend is still in its infancy and is concentrated in the traditional markets of Europe and North America. The growth rate of both these regions in the HVAC equipment market will remain close, but North America will edge ahead. However, in terms of sheer size, Asia Pacific stands as the largest geographical HVAC equipment market.
The demand for cooling systems is expected to be higher than that for heating systems. However, even if it is moderate, growth will be seen in all product segments of the global HVAC equipment market.
There will be a conspicuous rise in the sales of heat pumps and air conditioners.
Saving on energy bills has traditionally been the aim of consumers in both commercial and residential sectors, but now attention has also turned toward ‘green and clean’ products. This, along with regulation, has prompted companies in the HVAC equipment market to launch HCFC- and CFC-free components and products.
The most notable drivers for growth in the market will be a proliferation of industrial units – both large and small – in emerging countries. Large countries such as India and China comprise different topographies with varying temperature characteristics. This creates a rather lucrative market for both cooling and heating functions. After witnessing moderate activity between 2008 and 2011, the construction sector is showing revival and resurgence in the Middle East and Asia Pacific. This increase in construction activity will cause a proportionate rise in the sales of HVAC equipment.
Smart homes are, by a long way, the biggest change to have hit the HVAC market, and companies that rise to the occasion will achieve success.
Featured articles and news
It was the tallest structure in the world for 3,800 years, but to this day the exact construction techniques are a mystery.
Shortlist for the industry's most coveted award announced.
Government responds to Mark Farmer's review of industry, rejecting the call for a levy on clients.
Peter Hansford to examine what wider lessons can be learned from the fire.
Every project is subject to uncertainty. How can construction better understand uncertainty for performance improvement?
MAD Architects reveal their designs for a futuristic campus for electric car manufacturer.
Homebuyers could borrow more with better forecasting of energy bills, according to industry consortium's new report.
Read our introductory article on carbon capture and storage.
Have a look at Frank Gehry's Binoculars Building in Los Angeles.
BRE publish new Loss Prevention Standard seeking to minimise fire risk from ducting.
Beneficial infrastructure projects
How do we tell which infrastructure projects will work?
CIAT announce the establishment of a Working Group in light of Grenfell and call for contributions.
In 1900, 15% of global population lived in cities. Now it’s over 50%. Which is why we need ‘hydroinformatics’ to consume smarter.
Have a look at these competition-winning designs for a new residential development in Eindhoven.
Grenfell Tower articles updated daily