Commercial HVAC Market to Grow at 6.48% CAGR Driven by Increased Construction Activities to 2020
Increase in construction activities worldwide, especially in developing countries such as India and China, will propel growth of the global commercial HVAC market, new constructions in the commercial sector have increased the demand for HVAC systems to improve building efficiencies, thus generating high market revenue.
Pune, India – February 26, 2016 /MarketersMedia/ —
The analysts forecast global commercial HVAC market to grow at a CAGR of 6.48% during the period 2016-2020. Advances in building automation systems (BAS) and highly efficient maintenance and support services for HVAC systems will have a positive impact on the market during the forecast period. Building automation systems (BAS) control and monitor HVAC and other facilities of a building. These systems are improved by embedding with computing and digital communication tools that allow them to enhance energy efficiency. The number of integrated BAS installations has increased due to rise in the number of construction projects and building retrofits.
Complete report on commercial HVAC market spread across 101 pages, analyzing 5 major companies and providing 34 data exhibits is now available at http://www.reportsnreports.com/reports/496137-global-commercial-hvac-market-2016.html.
HVAC systems ensure high air quality in residential and commercial establishments through the process of ventilation and filtration. These systems use components like heat exchangers, pumps, and fans to control and regulate humidity and temperature levels. The traditional HVAC systems that are used in commercial, residential, and industrial applications consume a large amount of electricity. This has led to the augmented popularity of chillers, variable refrigerant flow (VRF), and air handling units (AHUs) as they are highly energy-efficient.
The global commercial HVAC market is part of heavy industry research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as construction, engineering tools, test and measurement, tools and components, and unit operations.
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These commercial HVAC market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.
Key players in the global commercial HVAC market: Carrier, Daikin Industries, Ingersoll-Rand, Johnson Controls, and LG.
Other prominent vendors in the market are: AB Electrolux, Bosch Thermotechnik, Fujitsu, GD Midea, Gree Electric Appliances, Haier, Hitachi, Lennox International, Nortek, Paloma Industries, Samsung, Siemens, and Vaillant Group.
Further, the report states that the commercial HVAC market is highly competitive due to the presence of many regional and international vendors. The low-cost HVAC systems offered by regional vendors negatively impact the market share of international players.
Another related report is Global Residential HVAC Market 2015-2019, the analysts forecast Global residential HVAC market to grow at a CAGR of 10.38% during the period 2015-2019. The growth rate of the global elderly population is 1.9%, significantly higher than the total population growth rate of 1.2%. Aging populations require added comfort and ease of use in both buildings and vehicles. Therefore, the need for advanced HVAC systems that can provide controlled indoor environments is increasing. Browse complete report @ http://www.reportsnreports.com/reports/461305-global-residential-hvac-market-2015-2019.html.
Key players in the global residential HVAC market: Daikin Industries, HCM and LG Electronics
Other prominent vendors in the market are: Haier Electronics, Mitsubishi Electric, Broad Air Conditioning Co. Ltd., Century Corporation, GD Midea, AB Electrolux, Haier, Lennox International, EAW Energieanlagenbau GmbH, and Johnson Controls.
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