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
Independent Building Control review panel
Five members of the newly established, Grenfell Tower Inquiry recommended, panel appointed.
ECA progress on Welsh Recharging Electrical Skills Charter
Working hard to make progress on the ‘asks’ of the Recharging Electrical Skills Charter at the Senedd in Wales.
A brief history from 1890s to 2020s.
CIOB and CORBON combine forces
To elevate professional standards in Nigeria’s construction industry.
Amendment to the GB Energy Bill welcomed by ECA
Move prevents nationally-owned energy company from investing in solar panels produced by modern slavery.
Gregor Harvie argues that AI is state-sanctioned theft of IP.
Heat pumps, vehicle chargers and heating appliances must be sold with smart functionality.
Experimental AI housing target help for councils
Experimental AI could help councils meet housing targets by digitising records.
New-style degrees set for reformed ARB accreditation
Following the ARB Tomorrow's Architects competency outcomes for Architects.
BSRIA Occupant Wellbeing survey BOW
Occupant satisfaction and wellbeing tool inc. physical environment, indoor facilities, functionality and accessibility.
Preserving, waterproofing and decorating buildings.
Many resources for visitors aswell as new features for members.
Using technology to empower communities
The Community data platform; capturing the DNA of a place and fostering participation, for better design.
Heat pump and wind turbine sound calculations for PDRs
MCS publish updated sound calculation standards for permitted development installations.
Homes England creates largest housing-led site in the North
Successful, 34 hectare land acquisition with the residential allocation now completed.
Scottish apprenticeship training proposals
General support although better accountability and transparency is sought.
The history of building regulations
A story of belated action in response to crisis.
Moisture, fire safety and emerging trends in living walls
How wet is your wall?
Current policy explained and newly published consultation by the UK and Welsh Governments.
British architecture 1919–39. Book review.
Conservation of listed prefabs in Moseley.
Energy industry calls for urgent reform.