The global energy efficient HVAC systems market to grow at a CAGR of 11.08 % during the period 2018-2022.
Global Energy Efficient HVAC Systems Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one of the major drivers for this market is Demand for reducing energy consumption and operating costs. Most residential, commercial, and industrial buildings around the world use some form of heating, cooling, or climate control technologies for providing thermal comfort and satisfactory levels of indoor air quality. Many buildings also directly burn fossil fuels, such as heating oil, natural gas, and even coal, to provide for the space heating requirements. The energy consumed for such space heating and cooling applications in buildings and other areas represents significant cost incurred by the owner or operator. Therefore, the demand for energy efficient HVAC systems is growing to cater to the need to minimize the energy consumption in buildings and reduce operating costs.
The latest trend gaining momentum in the market is growing adoption of R32 refrigerant in air conditioners. All air conditioning and refrigeration systems use some form of refrigerant to absorb the heat from the air to cool it. Traditionally used fluid refrigerants include chlorofluorocarbons (CFCs), hydrochlorofluorocarbons (HCFCs), ammonia, and halons. The global HVAC industry is now moving toward the adoption of newer, advanced refrigerants that have better efficiency than traditional refrigerants.
Further, the report states that one of the major factors hindering the growth of this market is Higher initial cost of energy efficient HVAC systems. The ongoing drive toward increasing the energy efficiency, reducing energy costs, and lowering the emissions is expected to create a significant opportunity for the growth of the global energy efficient HVAC systems market. However, the higher initial cost of capital and installation is a major challenge that may impede the growth of the global market.
Key vendors
DAIKIN INDUSTRIES
Ingersoll-Rand
Johnson Controls
Lennox International
LG Electronics
United Technologies (Carrier)
Market drivers
Demand for reducing energy consumption and operating costs
For a full, detailed list, view the full report
Market challenges
Higher initial cost of energy efficient HVAC systems
For a full, detailed list, view the full report
Market trends
Growing adoption of R32 refrigerant in air conditioners
For a full, detailed list, view the full report
Key questions answered in this report
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
You can request one free hour of the analyst's time when you purchase this market report. Details are provided within the report.
Executive Summary:
New Report Released: - Global Energy Efficient HVAC Systems Market 2018-2022
The author of the report recognizes the following companies as the key players in the global energy efficient HVAC systems market: DAIKIN INDUSTRIES, Ingersoll-Rand, Johnson Controls, Lennox International, LG Electronics, and United Technologies (Carrier)
Commenting on the report, an analyst from the research team said:
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Global Energy Efficient HVAC Systems Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one of the major drivers for this market is Demand for reducing energy consumption and operating costs. Most residential, commercial, and industrial buildings around the world use some form of heating, cooling, or climate control technologies for providing thermal comfort and satisfactory levels of indoor air quality. Many buildings also directly burn fossil fuels, such as heating oil, natural gas, and even coal, to provide for the space heating requirements. The energy consumed for such space heating and cooling applications in buildings and other areas represents significant cost incurred by the owner or operator. Therefore, the demand for energy efficient HVAC systems is growing to cater to the need to minimize the energy consumption in buildings and reduce operating costs.
The latest trend gaining momentum in the market is growing adoption of R32 refrigerant in air conditioners. All air conditioning and refrigeration systems use some form of refrigerant to absorb the heat from the air to cool it. Traditionally used fluid refrigerants include chlorofluorocarbons (CFCs), hydrochlorofluorocarbons (HCFCs), ammonia, and halons. The global HVAC industry is now moving toward the adoption of newer, advanced refrigerants that have better efficiency than traditional refrigerants.
Further, the report states that one of the major factors hindering the growth of this market is Higher initial cost of energy efficient HVAC systems. The ongoing drive toward increasing the energy efficiency, reducing energy costs, and lowering the emissions is expected to create a significant opportunity for the growth of the global energy efficient HVAC systems market. However, the higher initial cost of capital and installation is a major challenge that may impede the growth of the global market.
Key vendors
DAIKIN INDUSTRIES
Ingersoll-Rand
Johnson Controls
Lennox International
LG Electronics
United Technologies (Carrier)
Market drivers
Demand for reducing energy consumption and operating costs
For a full, detailed list, view the full report
Market challenges
Higher initial cost of energy efficient HVAC systems
For a full, detailed list, view the full report
Market trends
Growing adoption of R32 refrigerant in air conditioners
For a full, detailed list, view the full report
Key questions answered in this report
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
You can request one free hour of the analyst's time when you purchase this market report. Details are provided within the report.
Executive Summary:
New Report Released: - Global Energy Efficient HVAC Systems Market 2018-2022
The author of the report recognizes the following companies as the key players in the global energy efficient HVAC systems market: DAIKIN INDUSTRIES, Ingersoll-Rand, Johnson Controls, Lennox International, LG Electronics, and United Technologies (Carrier)
Commenting on the report, an analyst from the research team said:
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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