Hi Energy efficient HVAC market worth
$33.2bn by 2020!.
The global market for energy efficient HVAC (heating, ventilation, and air conditioning) systems will be worth $33.2bn (AED 121.9m) annually by 2020, according to a new report from Navigant Research.
Currently worth $17.2bn (AED 4.7bn), the market is expected to grow by 94.2% in the next seven years, with the Asia Pacific region predicted to take a majority share of global revenue.
“In the wake of the global recession of 2009, developed markets for efficient HVAC – especially in North America and Europe – remain sluggish,” said Bob Gohn, senior research director with Navigant Research. “However, the North American market will revive during 2013 and begin to experience more substantial growth during 2014.
Europe will follow a similar trend, but recovery will likely not occur until mid to late 2014. The strongest region for energy efficient HVAC expansion, however, will be Asia Pacific, which will account for 55%t of the world market by 2020.”
The global HVAC market, according to the report, is led by large suppliers, such as UTC (Carrier), Hitachi, Ingersoll-Rand (Trane), Daikin, and LG Electronics, many of which also produce various other products, technologies, and services.
HVAC-only manufacturers are largely limited to smaller and midsize brands such as Lennox and Uponor. Some larger suppliers, such as Johnson Controls, also provide integrated engineering and operations/ maintenance services, overlapping in part with services more traditionally provided by energy service companies.
The report, “Energy Efficient HVAC Systems”, analyses the global market opportunity for energy efficient commercial HVAC systems, including unitary systems, heat pumps, furnaces and boilers, ductless cooling, engineered cooling systems, radiant heating and cooling, and ventilation systems.
The report provides a comprehensive assessment of the demand drivers, business models, policy and regulatory factors, and technology issues associated with the global market for these systems. Key industry players are profiled in depth, and worldwide revenue forecasts – segmented by application, region, and key major countries – extend through 2020.