Global Revenue for Commercial Energy-Efficient HVAC Systems is Expected to Reach $47.5 Billion in 2024, According to Navigant...
04 August 2015 - 7:15PM
Business Wire
Recovering industry growth in the United States is
counterbalanced by declines in China and stagnation in Europe,
report finds
A new report from Navigant Research analyzes the global market
for seven energy-efficient technologies that are the primary
components of commercial heating, ventilation, and air conditioning
(HVAC) systems, including market forecasts for revenue, through
2024.
HVAC equipment accounts for nearly 40 percent of total global
building energy consumption, while commercial buildings consume
about 12 percent of the world’s energy supply. As concerns about
the environmental impact of energy generation and uncertainty over
future energy prices increase, efficiency improvements in
commercial HVAC equipment are becoming more enticing. Click to
tweet: According to a new report from Navigant Research, global
revenue for commercial energy-efficient HVAC systems is expected to
increase from $22.8 billion in 2015 to $47.5 billion in 2024.
“Almost universally, building owners are investing in HVAC
equipment to lower energy consumption, lower operating costs, and
lower the impact on the environment,” says Benjamin Freas, senior
research analyst with Navigant Research. “Not only is this driving
incremental increases in the efficiency of equipment, it is
shifting design standards—we’re seeing variable refrigerant flow
(VRF) systems being designed in place of unitary systems and the
use of heat pumps is expanding.”
While growth in commercial HVAC sales for energy-efficient
buildings is recovering in the United States, that growth is
counterbalanced by sharp declines in China and is tempered by
stagnation in Europe, according to the report. However,
energy-efficient commercial HVAC equipment is still expected to
experience moderate to strong growth globally through 2024, driven
primarily by stricter environmental standards and demand for lower
operating costs.
The report, Energy-Efficient HVAC Systems for Commercial
Buildings, analyzes the global market opportunity for
energy-efficient commercial HVAC systems, including unitary
systems, heat pumps, furnaces, boilers, VRF systems, chillers, and
geothermal heat pumps. The report provides a comprehensive
assessment of the demand drivers, business models, and policy and
regulatory factors. Global market forecasts for HVAC systems,
segmented by region and technology, extend through 2024. The report
also examines the major technologies related to these systems and
profiles key industry players in depth. An Executive Summary of the
report is available for free download on the Navigant Research
website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant,
provides market research and benchmarking services for rapidly
changing and often highly regulated industries. In the energy
sector, Navigant Research focuses on in-depth analysis and
reporting about global clean technology markets. The team’s
research methodology combines supply-side industry analysis,
end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of
the Smart Energy, Smart Utilities, Smart Transportation, and Smart
Buildings sectors. Additional information about Navigant Research
can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is an independent specialized, global
professional services firm that combines deep industry knowledge
with technical expertise to enable companies to defend, protect and
create value. With a focus on industries and clients facing
transformational change and significant regulatory and legal
issues, the Firm serves clients primarily in the healthcare, energy
and financial services sectors which represent highly complex
market and regulatory environments. Professional service offerings
include strategic, financial, operational, technology, risk
management, compliance, investigative solutions, dispute
resolutions services and business process management services. The
Firm provides services to companies, legal counsel and governmental
agencies. The business is organized in four reporting segments –
Disputes, Investigations & Economics; Financial, Risk &
Compliance; Healthcare; and Energy. More information about Navigant
can be found at navigant.com.
* The information contained in this press release concerning the
report, Energy-Efficient HVAC Systems for Commercial Buildings, is
a summary and reflects Navigant Research’s current expectations
based on market data and trend analysis. Market predictions and
expectations are inherently uncertain and actual results may differ
materially from those contained in this press release or the
report. Please refer to the full report for a complete
understanding of the assumptions underlying the report’s
conclusions and the methodologies used to create the report.
Neither Navigant Research nor Navigant undertakes any obligation to
update any of the information contained in this press release or
the report.
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version on businesswire.com: http://www.businesswire.com/news/home/20150804005708/en/
Navigant ResearchEllie Stutts,
+1-202-973-3249ellie.stutts@navigant.comorMegan Maupin,
+1-312-583-5703megan.maupin@navigant.com