The global commercial HVAC market is expected to post a CAGR of close to 6% during the period 2018-2022, according to the latest market research report by Technavio
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Technavio has published a new market research report on the global commercial HVAC market from 2018-2022. (Graphic: Business Wire)
The data center market is expected to boost the growth of the global commercial HVAC market. A data center comprises highly sensitive electronic components wherein temperature, humidity, airflow, and cleanliness should be maintained to avoid equipment failures. The HVAC systems form a crucial part of data centers and cooling incurs a significant cost in data center operations.
This market research report on the global commercial HVAC market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the emerging smart and connected HVAC as one of the key emerging trends in the global commercial HVAC market:
Global commercial HVAC market: Emerging smart and connected HVAC
End-users can manage their HVAC systems better with the advantages of portable devices and monitoring systems. Air monitoring systems in HVAC equipment assist in detecting and removing allergens, harmful particulate matter, stale air, and virus-causing contaminants. They also clean and regulate the moisture levels for optimal indoor air quality.
"Thermostats are one of the significant beneficiaries of smart technologies. Many vendors are introducing smart thermostats. These systems are automatically installed with advanced firmware and algorithms, which in addition to their learning ability, aid in boosting the energy efficiency of buildings while incurring low installation costs," says a senior analyst at Technavio for research on engineering tools.
Global commercial HVAC market: Segmentation analysis
This market research report segments the global commercial HVAC market by application (equipment and services) and geography (APAC, EMEA, and the Americas).
The equipment segment held the largest market share in 2017, accounting for over 69% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with more than 48% of the market share. It was followed by EMEA and the Americas respectively. The market share occupied by the APAC region is anticipated to increase by almost 2% by 2022.
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Some of the key topics covered in the report include:
- 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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