Global Heating, Ventilation and Air Conditioning Systems Market Analysis, Trends, and Forecasts 2019-2025 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 28, 2020--
The “Heating, Ventilation and Air Conditioning (HVAC) Systems - Market Analysis, Trends, and Forecasts” report has been added to ResearchAndMarkets.com’s offering.
The global market for Heating, Ventilation and Air Conditioning (HVAC) Systems is projected to reach US$241.8 billion by 2025, driven by the ubiquitous importance of temperature control in homes and production environments.
In the residential sector, climate change is a key driving force encouraging the development of the HVAC market. Extreme weather conditions such as rising temperatures alternating between unusually cold winters is spurring the need for cooling and warming indoor spaces such as homes and office buildings. Home temperature control is aimed at keeping interiors of the house at a comfortable, uniform temperature. In the industrial sector, temperature control is vital to ensure machines operate within specified temperatures and humidity for optimal efficiency and longer life. Temperature control is also important in ensuring the desired quality of manufactured product. A case in point is the importance of plant temperature control for plastic injection molding machines, a widely used piece of technology present in most manufacturing parts to produce millions of parts and components. Incorrect maintenance of temperature can result in the production of faulty products.
Plastic injection molding is therefore a major application for process chillers. Temperature control is also vital to ensure conformance to occupational safety standards. For instance, in boiler rooms, commercial kitchens, food canneries and chemical plants, temperature has to be controlled to safeguard against heat-related illnesses. Also, the progressively worsening air pollution levels the world over and the resulting concerns over indoor air quality (IAQ) is pushing up the importance of HVAC as the front line of defense against poor indoor air quality. Incorporation of high quality HEPA filters in HVAC systems ensures effective removal of airborne contaminants and microscopic particulates. Development of innovative pleated fabric filters capable of filtering contaminants as small as 3 microns also bodes well for market growth.
Given that HVACs are important and indispensable with omnipresent applications in virtually all buildings and factories, their growing carbon footprint is a major area of concern. HVAC systems utilize refrigerants to trap and transfer indoor heat to the outdoors. A majority of these refrigerants are volatile organic compounds (VOC) that emit greenhouse gasses (GHG) responsible for the depletion of the earth’s ozone layer. In the United States, over 45% of CO2 emissions are generated by residential HVAC systems used for heating and cooling purposes. The scenario is helping drive replacement demand for energy efficient systems. A significant percentage of technology innovations are directed at achieving energy efficiency. From variable refrigerant flow (VRF) technology, environmentally friendly filters, more efficient air handling units (AHUs), to the use of superior insulation materials, the market is witnessing a flurry of innovations. Of noteworthy importance is the integration of Internet of things (IoT) capabilities to enhance HVAC performance by continuous monitoring, management and improved controllability.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
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INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY
SOURCE: Research and Markets
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PUB: 01/28/2020 08:49 AM/DISC: 01/28/2020 08:49 AM