Global HVAC Terminal Units Market 2018-2022
About this market
The emergence of net zero energy buildings will result in significant growth of the HVAC terminal units market during the forecast period. Net zero buildings use renewable technology to produce the same amount of energy which is being consumed from the grid by the building over the course of a year. The designing and construction of net zero energy buildings have become more practical with the emergence of advanced 3D Energy and Daylight modelling, and improvements in construction technology, building controls and renewable energy systems. Government initiatives such as WGBC, EEB, and NBI which creates awareness regarding the benefits of going green are also encouraging the development and construction of net zero energy buildings. Since, HVAC systems play a critical role in achieving net zero energy goals, the emergence of net zero energy buildings will boost the growth of the HVAC terminal units market during the forecast period. Technavio’s analysts have predicted that the HVAC terminal units market will register a CAGR of over 5% by 2022.Market Overview
Increase in construction activities
The number of construction activities is increasing in developed as well as emerging countries. The income of people in countries such as India, China, Saudi Arabia, Malaysia, UAE, and Indonesia is increasing. These countries are also undergoing rapid urbanization. New housing and infrastructure are required to accommodate people that are shifting from rural to urban areas. Governments of several countries are investing in the development of public infrastructure. This will create a demand for HVAC terminal units during the forecast period and thereby boost market growth.
Fluctuations in raw material prices
The cost of raw materials such as stainless and steel is influenced by several factors including inflation, production, and availability. The price of steel can be affected by factors such as natural disasters, state of the world economy, and strength of the American dollar. Large companies are immune to such fluctuations of raw material prices due to the long-term contracts with their suppliers. However, instability in raw material prices affects the profit margins of small vendors which in turn has a negative impact on market growth.
For the detailed list of factors that will drive and challenge the growth of the HVAC terminal units market during 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including DAIKIN INDUSTRIES, and Honeywell the competitive environment is quite intense. Factors such as the increasing construction activities, will provide considerable growth opportunities to HVAC terminal unit companies. DAIKIN INDUSTRIES, Honeywell, Ingersoll-Rand, Johnson Controls, UNITED TECHNOLOGIES (Carrier) are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global HVAC Terminal Units Market 2018-2022
Technavio recognizes the following companies as the key players in the global HVAC terminal units market: DAIKIN INDUSTRIES, Honeywell, Ingersoll-Rand, Johnson Controls, UNITED TECHNOLOGIES (Carrier).
Commenting on the report, an analyst from Technavio’s team said: “HVAC systems play a crucial role in the development of energy efficient net zero energy buildings. Thus, the emergence of net zero energy buildings is identified as a key trend fueling the growth of HVAC terminal units market.”
According to the report, one of the major drivers for this market is the increasing number of construction activities across the world. This will augment the demand for HVAC terminal units and boost the growth of the market during the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is the fluctuations in prices of raw materials such as stainless steel and copper. This affects the profit margins of vendors and thereby hampers market growth.
UNITED TECHNOLOGIES (Carrier)
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