BOULDER, Colo.--(BUSINESS WIRE)--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.
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.