LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global HVAC safety devices market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The research study by Technavio on the global HVAC safety devices market for 2017-2021 provides a detailed industry analysis based on the applications (electrical safety devices and flow and pressure safety devices), end-user (non-residential and residential), and geography (APAC, EMEA, and the Americas).
|HVAC safety devices can be installed in residential, commercial and industrial buildings, where regulation of the temperature, humidity levels, and the indoor and outdoor quality of the air is required. Technavio analysts forecast the global HVAC safety devices market to grow at a CAGR of nearly 6% over the forecast period.|
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The top three emerging trends driving the global HVAC safety devices market according to Technavio research analysts are:
- Adoption of VRF systems
- Integration of IoT with HVAC systems
- Increasing popularity of smart homes
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Adoption of VRF systems
“Variable refrigerant flow is a system of air-conditioning where there are multiple indoor units and one outdoor condensing unit. The variable refrigerant flow systems are currently used in large commercial buildings such as office spaces in Japan and Europe, although there is a trend in terms of adoption in the US too,” says Neelesh Prakash Singh, a lead analyst at Technavio.
The growing demand for variable refrigerant flow (VRF) systems in commercial spaces, as well as high-end residential homes, will contribute to the market growth of HVAC safety devices. VRF systems are best installed in new spaces, where builders would save cost, space, and material by not needing an extensive duct system. These safety devices are installed as a part of the advanced controller and condenser to provide surge protection.
Integration of IoT with HVAC systems
Advances in technology are a driving force for the global HVAC market. The integration of the Internet of things (IoT) to provide intelligent HVAC equipment is opening new avenues for the market in terms of revenue. The implementation of IoT is still in its nascent stage in the market, with commercial buildings expected to be the earliest adopter of this technology. The integration of intelligent HVAC safety in commercial buildings will enhance the efficiency and reliability of the building automation systems (BAS).
Intelligent HVAC equipment provides real-time remote monitoring and actionable analytics. These systems act as “force multipliers” and allow management teams to improve building and equipment control, thus reducing the operating costs. Manufacturers are also introducing innovations owing to concerns about energy consumption and global warming.
Increasing popularity of smart homes
A smart home is equipped with network connected products used for controlling, optimizing, and automating functions such as lighting, safety, security, temperature, and entertainment, either remotely or by a tablet, a smartphone, computer or a separate system within the home itself. It is expected that by 2020, the percentage of global households with Internet access will touch 69% while global smartphone penetration is expected to reach 75%.
“The home automation and control systems market are using the increase in the number of smart homes to include access controls, HVAC controls and corresponding safety devices, and entertainment controls. They also include outdoor controls, communication protocols, home management systems, wireless technologies, and management and metering,” says Neelesh.
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