About Commercial HVAC
HVAC systems enhance air quality in commercial establishments through ventilation and filtration, thereby ensuring thermal balance in the environment. These systems use heat exchangers, pumps, and fans to control and regulate humidity and temperature levels. Parameters such as heating and cooling, along with the air quality of the outdoor or indoor environment determine the type of HVAC system required.
Traditional HVAC systems that are used in commercial applications consume a large amount of electricity. However, in developing countries such as India, which is a highly price-sensitive market, customers prefer affordable energy-efficient solutions. This has led to increased popularity of energy-efficient and sustainable HVAC systems such as chillers, variable refrigerant flow (VRF) systems, and air handling units (AHUs). Radiant and geothermal cooling systems are the other advanced HVAC systems available in the market. These systems function on vapor-absorption chiller-machine technology.
Technavio’s analysts forecast the global commercial HVAC market to grow at a CAGR of 6.48% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global commercial HVAC market for 2016-2020. The market size has been calculated based on demand for HVAC equipment and services offered by market vendors.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Commercial HVAC Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Commercial HVAC Market: Carrier, Daikin Industries, Ingersoll-Rand, Johnson Controls, and LG.
Other Prominent Vendors in the market are: AB Electrolux, Bosch Thermotechnik, Fujitsu, GD Midea, Gree Electric Appliances, Haier, Hitachi, Lennox International, Nortek, Paloma Industries, Samsung, Siemens, and Vaillant Group.
Commenting on the report, an analyst from Technavio’s team said: “Advances in building automation systems (BAS) and highly efficient maintenance and support services for HVAC systems will have a positive impact on the market during the forecast period. Building automation systems (BAS) control and monitor HVAC and other facilities of a building. These systems are improved by embedding with computing and digital communication tools that allow them to enhance energy efficiency. The number of integrated BAS installations has increased due to rise in the number of construction projects and building retrofits”
According to the report, increase in construction activities worldwide, especially in developing countries such as India and China, will propel growth of the global commercial HVAC market. New constructions in the commercial sector have increased the demand for HVAC systems to improve building efficiencies, thus generating high market revenue.
Further, the report states that the commercial HVAC market is highly competitive due to the presence of many regional and international vendors. The low-cost HVAC systems offered by regional vendors negatively impact the market share of international players.
Carrier, Daikin Industries, Ingersoll-Rand, Johnson Controls, LG, AB Electrolux, Bosch Thermotechnik, Fujitsu, GD Midea, Gree Electric Appliances, Haier, Hitachi, Lennox International, Nortek, Paloma Industries, Samsung, Siemens, Vaillant Group.
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