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Commercial HVAC System Shipments Valued at US$354 Billion in 2030 Driven by Innovations in Cooling, Energy Efficiency, and Sustainability


News provided by

ABI Research

03 Oct, 2024, 12:30 GMT

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Building codes, energy regulations, and rising operating costs are encouraging building developers to upgrade existing HVAC infrastructure to Smart HVAC equipment

NEW YORK, Oct. 3, 2024 /PRNewswire/ -- Building operations and their hardware components are undergoing a wave of digitalization by implementing smart technologies that enable convenience, comfort control, energy efficiency, and operational cost savings. Pressures to comply with sustainability regulations and demand for energy efficiency encourage building owners and engineers to develop optimized Heating, Ventilation, and Air Conditioning (HVAC) strategies to reduce operational costs. According to global technology intelligence firm ABI Research, the current commercial HVAC hardware shipments market is valued at US$161 billion and will grow to US$354 billion in 2030, at an advancing CAGR of 11.9%. This includes packaged systems & rooftop units, conventional systems, Variable Refrigerant Flow Systems (VRF), and multi-split system types.

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Traditional HVAC systems have a binary function of 'On & Off'. Smart HVAC systems have different modes which condition the air based on multiple factors such as ambient temperature, occupancy, equipment scheduling, and energy consumption. "Smart HVAC systems go beyond basic cooling and heating functions by bridging the connected and unconnected through intelligent climate control (temperature, air quality, and humidity tracking), remote management, proactive, predictive maintenance, and energy optimization. Currently, over 75% of the HVAC systems are hard-wired, as awareness grows over the forecast period by 2030, adoption of wireless connected Smart HVAC systems will reach over 55%," explains Rithika Thomas, Senior Analyst for Sustainable Technologies at ABI Research.

Building codes and energy utilization regulations globally stress the need for efficient use of HVAC equipment, low-impact/sustainable refrigerant, and optimal set points to reduce energy costs. Energy Performance of Buildings Regulations (EPBD), F-Gas Regulations, the Health and Safety at Work Act 1974, the Control of Legionella Bacteria Regulations 2014, and Indoor Air Quality (IAQ) Regulations are a few edicts shaping the HVAC landscape with a focus on refrigerant type & use, maintenance, environmental impact, and a healthy workplace.

Bosch Group's recent acquisition of Johnson Controls Residential and Light Commercial HVAC business has cemented its market share in the HVAC market. Established brands like Haier Electronics, Honeywell International, LG Electronics, Mitsubishi Electric Corporation, Panasonic, Midea Group, and Samsung Electronics, to name a few, are strengthening their offerings powered by Artificial Intelligence (AI), to cater to high energy efficiency HVAC systems with low-frequency noise, efficient water use, smart control features, and enhanced cooling capabilities. SMEs digitizing building operations and Building Automation System (BAS) providers like ALE, CIM, SensMax, and Sensgreen are partnering with established market players and commercial developers to prototype, manufacture, test, and deploy smart HVAC solutions in commercial buildings.

HVACs contribute between 38% - 70% of a conventional commercial building's energy consumption. "Maximizing energy efficiency in HVAC systems for commercial buildings is crucial to creating energy-efficient, sustainable, and comfortable built environment. Smart HVAC empowers occupants to control the temperature of a space on a granular level from dedicated devices, such as a digital dashboard or phone, to achieve thermal comfort. Upskilling of building operators, technicians, and installers on new digital and smart HVAC capabilities is critical to the success and implementation of connected HVAC systems. The smarter era of HVAC will drive connected living to new heights through comfort, convenience, efficiency, and savings," Thomas concludes.

These findings are from ABI Research's HVAC Systems & Hardware in Commercial Buildings market data report. This report is part of the company's Smart Buildings research service, which includes research, data, and ABI Insights. Market Data spreadsheets comprise deep data, market share analysis, and highly segmented, service-specific forecasts to provide detailed insight into where opportunities lie.

About ABI Research

ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.

ABI Research是一家全球性的技术情报公司,拥有得天独厚的优势,充当终端市场公司和技术解决方案提供商之间的桥梁,通过提供独家研究和专业性指导,推动成功的技术实施和提供经证明可吸引和留住客户的战略,无缝连接这两大主体。

For more information about ABI Research's services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.

Contact Info: 

Global
Deborah Petrara
Tel: +1.516.624.2558
pr@abiresearch.com  

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