by Shane Henson — May 31, 2013—Manufacturers of energy-efficient heating, ventilation and air-conditioning (HVAC) equipment for North American buildings should expect their products to be in demand as more facilities managers have room in their budgets to make purchases for aging buildings and look to buy products that will be key in helping to reduce energy costs, according to new analysis from Frost & Sullivan.
Per the market research company’s report, Analysis of the North American HVAC Equipment Market, the HVAC market earned revenue of $13.05 billion in 2012 and is estimated to reach $14.78 billion in 2017. As the report notes, with space heating and cooling accounting for close to 40 percent of all the energy consumed in the building sector in the United States, there is a pressing need for energy-efficient HVAC, especially within aging commercial, institutional and industrial buildings.
“Acknowledging the need to reduce energy consumption and achieve significant energy savings, end users are opting for HVAC equipment with the latest technologies,” said a Frost & Sullivan energy and environment industry analyst. “Consequently, original equipment manufacturers are increasingly incorporating energy-saving technologies, such as variable speed compressors, variable speed fans, and high-efficiency heat exchangers.”
Research and development efforts are likely aimed at making the equipment more energy efficient and silent. Another major area of focus is the use of controls to improve the efficiency of the overall system rather than just the efficiency of the components, according to the report.
Furthermore, the United States passed legislation including the Energy Policy Act of 2005 and the Energy Independence and Security Act of 2007, which mandate buildings must save at least 30 percent more energy than current levels. They also set regional minimum average efficiency rates for HVAC products. These targets bode well for the HVAC market as end users must install higher-efficiency HVAC equipment to meet these targets, the report forecasts.
