Variable Air Volume Systems | Fortune Business Insights
Posted by RahulGadve on April 23rd, 2020
The global variable air volume systems market size is expected to boost owing to increasing awareness for reducing energy consumption across several economies. Fortune Business Insights, in its latest report, titled “Variable Air Volume Systems Market Size, Share, & Industry Analysis, By Type (Single Duct VAV Systems, Dual Duct VAV Systems Induction Powered VAV Systems), By Application (Air filter, Heating & Cooling Coil, Fan (Inlet & Outlet), Diffuser, Radiator, ThermostatOthers (Sensors & Inductors)), By End-use Vertical (Residential, Industrial, CommercialOthers) Others and Regional Forecast, 2019-2026.”, reports promising growth for the market during the forecast period.
Variable air volume (VAV) systems generally supply air through an air-handling unit (AHU) at a variable temperature. The AHU pulls in fresh air and displaces air in the building while either heating or cooling it before it reaches the occupied space. VAV terminals are used to adjust the amount of air that helps to control the space temperature. Furthermore, VAV systems when maintained properly provide high levels of energy efficiency with low running costs. Increasing Industrialization and commercialization across the globe will drive the growth for the market during the forecast period.
What does the Report Include?
The report includes detailed information on the growth parameters such as the drivers, challenges, opportunities, and restraints that the market will go through during the forecast period. Furthermore, it provides qualitative and quantitative details about the regional demographics present in the market. Moreover, the competitive landscape includes in-depth information of the companies proliferating in the market and the strategies such as mergers and acquisitions, product launches, and collaborations adopted by them to gain market presence.
Drivers and Restraints:
Technological Advancements to Promote Growth
In March 2020, researchers at IIT Mandi, Himachal Pradesh, have developed an Algorithm that helps to detect failure in HVAC system. This software tool can help large buildings save operational and maintenance costs of the HVAC systems and be energy-efficient. Furthermore, the researchers have focused on the VAV system known as the VAV damper. The VAV damper beneficial for adjusting its position to either increase or decrease the air flow of the from, is used as an indicator to give alerts in case of failure or faults occurring ion the VAV systems. On-time detection of faults can be useful to manage the conditions of HVAC systems that can help cut costs and improve the systems efficiency. Moreover, rising infrastructural development across the globe will contribute to the growth of the market in the forthcoming years.
However, higher product cost and huge installation charges may cause restraints for the growth of the market during the projected horizon.
Increasing Infrastructural Development in Asia-Pacific to Augur Demand
Among the regions, Asia-Pacific is expected to hold the largest share for the market during the projected horizon. This is ascribable to factors such as increasing infrastructural development in countries such as India, China, and Japan. Additionally, increasing economic development will drive the growth of the market in Asia-Pacific during the forecast period. On the other hand, the market in Europe will witness substantial growth backed by increasing construction projects and redevelopment of old structures between 2019 and 2026.
Product Launches by Companies to Stimulate Growth
Cylon Controls, a leading solutions provider, on June 2019, announced the release of new BACnet IP-based building controllers and mobile applications for efficient energy management of HVAC systems. The companies adopting strategies such as product development and launches is anticipated to drive the variable air volume systems market revenue in the forthcoming years. Moreover, the key players are striving to gain maximum market share by collaborating with other companies to maintain market stronghold during the projected horizon. Below is an industrial development for the market:
List of Companies Operating in the Market:
About the AuthorRahulGadve
Joined: April 8th, 2020
Articles Posted: 84
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