The global energy-efficient HVAC systems market size is expected to grow at a CAGR of close to 8% during the forecast period 2018-2028. The market growth can be attributed to demand for increasing adoption of renewable energy, shift from conventional power sources such as coal and nuclear power plants, climate change initiatives by governments around the world, technological advancement in developing energy-efficient HVAC system products, and growing awareness among people about environmental sustainability.
Energy efficient HVAC systems are a technology that uses less energy to help keep indoor air at an appropriate temperature. It includes various technologies, such as heat pumps and variable refrigerant flow (VRF). The aim of these technologies is to save on the amount of power needed by heating or cooling buildings.
On the basis of Type, the market is segmented into Heat Pumps, Water heating and cooling systems in Buildings, Efficient Air Conditioners, Efficient convectors/coils designs, Energy storage (heating and cooling), Regenerative processes in HVAC.
Heat pumps are machines that convert the heat from a lower temperature to a higher one. They can be used in both heating and cooling, depending on which direction they work - either extracting heat outside or adding it inside. A typical home uses four types of energy sources: electricity, gas, oil and wood pellets. Heat pumps cost less per unit than any other type of fuel except for solar panels over time.
Water heating and cooling systems are equipment used to heat or cool water, either for purposes of space heating or domestic hot water supply.
There're two types:
- air source heat pumps;
- ground source one
They can be manufactured in an integrated form with a gas boiler, solar thermal panels, or geothermal wells (for the first type) as well as electric resistance coils (to produce floor warming), or it may take the form of a modular system installed on top of the building's rooftop. They typically use electricity to drive them - but some units also have other sources such as natural gas, fuel oil, and propane.
Air Conditioners are equipment used to condition the air, typically for heating or cooling. They may take the form of an integrated heat pump or refrigeration system that also provides a means of space heating and domestic hot water supply (in countries with low winter temperatures). In 2017, the global market for energy-efficient air conditioning systems accounted for 27% of revenue share with a growth rate of 15%. The main drivers behind this high growth include stringent government policies on CO emissions to combat climate change especially in countries such as China; rise in awareness levels among consumers due to media coverage about the implications of climate change; increase use of property management software which automatically suggest measures that can improve efficiency.
Efficient convectors/coils designs are systems that use an air-to-air heat exchanger to provide heating and cooling. Air is heated or cooled by a process called the "latent" heat exchange, which means it's done without adding any substance. The efficiency of this type of design can be increased if there are multiple different coils (or pipes) considered as individual units.
Energy storage in HVAC systems is a technique that captures the surplus energy during periods of low demand and uses it to satisfy peak demands. This technology can be used with any type of heating or cooling system, including those using geothermal heat pumps (GHP), natural gas-fired furnaces, air conditioning units for offices and homes, etc. Traditional methods use thermal mass: tanks filled with water are heated when needed by solar panels or insulation techniques; this approach consumes too much energy as well as being expensive to install. Reversible electric compressors provide an alternative method that stores up unused electricity until there's a need for more power - then they release the stored electrons back into power grids during peak hours.
The process of reusing some form or energy to produce new products; in particular, a system that uses power generated by solar panels during periods when demand for electricity (i.e., peak hours) exceeds supply from generators to charge a battery bank that can then provide power back into the grid at times of need rather than relying exclusively on traditional sources like coal plants.
On the basis of Application, the market is segmented into Residential, Commercial, Office Buildings, Education Centers, Healthcare Centers, Hospitality, and Retail.
On the basis of Region, the market is segmented into North America (US & Canada), Latin America (Mexico Brazil), Europe- The Middle East and Africa(Poland Spain Germany Italy) Asia Pacific (India China Philippines Thailand Malaysia). In the North American market, there are significant opportunities in education centers and healthcare facilities. Factors such as increasing demand for new constructions, growing awareness about energy efficiency among customers, and competitive advantage due to the abundance of natural gas reserves will drive revenue expansion in this sector during the forecast period.
Up Market Research published a new report titled “Energy Efficient HVAC Systems Market research report which is segmented by Types (Heat Pumps, Water heating and cooling systems in buildings, Efficient air conditioning systems, Efficient convectors/coils designs, Energy storage (heating and cooling), Regenerative processes in HVAC), By Applications (Residential, Commercial, Office Buildings, Education Centers, Healthcare Centers, Hospitality, Retail Centers, Industrial, Others), By Players/Companies Apollo America, Azbil, Belimo, Daikin Industries, Delta Controls, Distech Controls, Emerson Electric, Honeywell, ICM Controls, Ingersoll-Rand, Jackson Systems, Johnson Controls, KMC Controls, Lennox, LG Electronics, PECO, Sauter, Schneider Electric, Siemens, United Technologies”.
|Report Attributes||Report Details|
|Report Title||Energy Efficient HVAC Systems Market Research Report|
|By Type||Heat Pumps, Water heating and cooling systems in buildings, Efficient air conditioning systems, Efficient convectors/coils designs, Energy storage (heating and cooling), Regenerative processes in HVAC|
|By Application||Residential, Commercial, Office Buildings, Education Centers, Healthcare Centers, Hospitality, Retail Centers, Industrial, Others|
|By Companies||Apollo America, Azbil, Belimo, Daikin Industries, Delta Controls, Distech Controls, Emerson Electric, Honeywell, ICM Controls, Ingersoll-Rand, Jackson Systems, Johnson Controls, KMC Controls, Lennox, LG Electronics, PECO, Sauter, Schneider Electric, Siemens, United Technologies|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||224|
|Number of Tables & Figures||157|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Heat Pumps, Water heating and cooling systems in buildings, Efficient air conditioning systems, Efficient convectors/coils designs, Energy storage (heating and cooling), Regenerative processes in HVAC and By Application Residential, Commercial, Office Buildings, Education Centers, Healthcare Centers, Hospitality, Retail Centers, Industrial, Others.
Some of the companies that are profiled in this report are:
Energy Efficient HVAC Systems Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Energy Efficient HVAC Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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