Technavio analysts forecast the global air source heat pump market to grow at a compound annual growth rate (CAGR) of almost 11 percent during the forecast period, according to their latest report. The research study covers the present scenario and growth prospects of the global air source heat pump market for 2017-2021.
Central air conditioning (CAC) systems and direct expansion (DX) central air conditioning systems are projected to witness 6.7 percent growth in unit shipments and 7.2 percent in shipments value during the 2017-2022 analysis period.
The demand for unitary air conditioners is forecast to expand at a 4.9 percent yearly rate through 2021 reaching $11.0 billion and continuing to outperform air conditioning equipment sales as a whole. The replacement of units that have reached the end of their operational lives will remain the primary driver of sales.
Rapid adoption of newly set regulations among several countries of the world by building automation systems manufacturers is fueling the demand for building automation systems.
According to the “Heating Equipment Market in the U.S.” study from The Freedonia Group, forced-air heating is the preferred comfort delivery method in the U.S. Of those, warm-air furnaces comprise the vast majority of the overall demand with 64 percent of the total value of sales in 2016.
The home automation system market is expected to be valued at $79.57 billion by 2022 and is expected to grow at a compound annual growth rate (CAGR) of 11.3 percent between 2017 and 2022.
The global heat exchangers market was valued $12.61 billion in 2015 and is projected to reach $20.12 billion by 2022, growing at a compound annual growth rate (CAGR) of 6.9 percent from 2016 to 2022, according to Heat Exchangers Market Report published by Allied Market Research. The shell and tube heat exchanger segment held approximately one-fourth of the total market share in 2015.
The HVAC services market is forecast to grow at a compound annual growth rate (CAGR) of 6.62 percent, according to the new report by ReportsnReports.com, Global HVAC Services Market 2017-2021.
The global district cooling (DC) market was valued at $11.19 billion in 2015 and is expected to expand at a compound annual growth rate (CAGR) of 5.1 percent to reach $17.33 billion in 2024, according to a new Transparency Market Research report titled District Cooling Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024.
According to the new market research report, "Building Automation System [BAS] Market - by Communication Technology, Offering, Application, and Region - Global Forecast To 2022," published by MarketsandMarkets, the overall BAS market was valued at $53.66 billion in 2016 and is expected to reach $99.11 billion by 2022, growing at a compound annual growth rate (CAGR) of 10.73 percent between 2017 and 2022.