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HVAC systems revenue to surpass $33 billion by 2020

Energy consumption by HVAC systems accounts for roughly 40% of total building energy consumption, and in turn, buildings account for 35% to 40% of total worldwide energy consumption, says Navigant, adding that HVAC energy consumption in commercial buildings is a key contributor to total global energy consumption.

Following the global recession in 2009, growth in efficient HVAC markets were slow, said Bob Gohn, senior research director with Navigant Research. “However, the North American market will revive during 2013 and begin to experience more substantial growth during 2014. Europe will follow a similar trend, but recovery will likely not occur until mid to late 2014. The strongest region for energy efficient HVAC expansion, however, will be Asia Pacific, which will account for 55% of the world market by 2020.”

The global HVAC market, according to the report, is led by large suppliers, such as UTC (Carrier), Hitachi, Ingersoll-Rand (Trane), Daikin, and LG Electronics, many of which also produce various other products, technologies, and services.  HVAC-only manufacturers are largely limited to smaller and mid-size brands such as Lennox and Uponor.  Some larger suppliers, such as Johnson Controls, also provide integrated engineering and operations/maintenance services, overlapping in part with services more traditionally provided by energy service companies.

The report analyzes the global market opportunity for energy efficient commercial HVAC systems. It provides a comprehensive assessment of the demand drivers, business models, policy and regulatory factors, and technology issues associated with the global market for these systems.