The growing adoption of R32 refrigerant in air conditioners is one of the major trends being witnessed in the global industrial HVAC market 2018-2022. The global industrial HVAC market is moving toward the adoption of newer, advanced refrigerants that have better efficiency and are more environment-friendly than traditional refrigerants. All air conditioning and refrigeration systems use some form of refrigerant to absorb the heat from the air to cool.
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According to Technavio analysts, one of the key factors contributing to the growth of the global industrial HVAC market is the increasing demand for energy-efficient HVAC systems:
Global industrial HVAC market: Increasing demand for energy-efficient HVAC systems
The need for energy-efficient equipment for different industrial processes has increased as end-user industries have been increasing their production volume to cater to the growing demand. On an average, almost 9% of the cost of production in most of the industries is spent on electricity. However, in energy-intensive industries such as oil and gas, the cost spent on electricity is almost 40%.
According to a senior analyst at Technavio for research on unit operations, “The increasing consumption of electricity in energy-intensive industries has propelled regulatory authorities to encourage the adoption of energy-efficient equipment. Regulatory authorities around the world have implemented many stringent guidelines related to energy efficiency.”
Global industrial HVAC market: Segmentation analysis
The global industrial HVAC market research report provides market segmentation by end-user (process industry and discrete industry), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major end-users, the process industry segment held the largest market share in 2017, contributing to around 68% of the market. This end-user segment will dominate the global market throughout the forecast period.
APAC held the largest share of the market in 2017, accounting for close to 42% share. It was followed by EMEA and the Americas respectively. The APAC region is anticipated to dominate the global market throughout the forecast period.
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- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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