A new report by Research and Markets has found that the global market for variable air volume (VAV) systems is projected to reach USD 13.44 billion by 2021, at a compound annual growth rate of 6.56% from 2016 to 2021.
Research and Markets The report — "Variable Air Volume Systems Market - Global Forecast to 2021" — is available for purchase.
Increasing demand from the HVAC systems in commercial buildings is the major driver for the VAV systems market. Lower awareness about VAV systems restricts the market and is a major restraint for the global VAV systems market. The global VAV systems market is expected to grow with the increasing demand for HVAC systems in major economies such as India, China, Japan, the U.S., the Middle East, and others.
The growth of the global VAV systems market is mainly due to the increasing demand for the use of VAV systems in the HVAC systems used in commercial, industrial, and residential buildings. Commercial buildings are the fastest-growing application for VAV systems products. The Asia-Pacific region is the fastest-growing region for the application of VAV systems, as the various countries in Asia, mainly India and China are growing at a rapid pace and expanding exponentially with a high growth in the numbers of commercial buildings such as hotels, offices, and malls.
The Asia-Pacific region is the largest market for VAV systems globally, with China leading the market. The market in the region is also witnessing the highest growth rate, which is attributed to the rapid economic expansion the region is undergoing.
Companies Mentioned in the Report:
- Barcol-Air Ltd.
- Bion Safety Controls Pvt. Ltd
- Daikin Industries Ltd.
- Emerson Electric Co.
- Honeywell International Inc.
- Ingersoll Rand
- Johnson Controls
- KAD Air Conditioning
- KMC Controls
- United Technologies Corporation
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Variable Air Volume Market, By Type
8 Variable Air Volume Market, By Application
9 Variable Air Volume Market, By Region
10 Competitive Landscape
11 Company Profiles