June 17, 2013: High-Efficiency Commercial HVAC to Surpass $33 Billion by 2020
North American Market Will Revive During 2013, See More Substantial Growth During 2014
Energy consumption of HVAC systems accounts for roughly 40 percent of total building energy consumption, notes the report.
“In the wake of the global recession of 2009, developed markets for efficient HVAC — especially in North America and Europe — remain sluggish,” said Bob Gohn, senior research director with Navigant Research. “However, the North American market will revive during 2013 and begin to experience more substantial growth during 2014. Europe will follow a similar trend, but recovery will likely not occur until mid to late 2014. The strongest region for energy efficient HVAC expansion, however, will be Asia Pacific, which will account for 55 percent of the world market by 2020.”
Publication date: 6/17/2013