“Almost universally, building owners are investing in HVAC equipment to lower energy consumption, lower operating costs, and lower the impact on the environment,” said Benjamin Freas, senior research analyst with Navigant Research. “Not only is this driving incremental increases in the efficiency of equipment, it is shifting design standards — we’re seeing variable refrigerant flow (VRF) systems being designed in place of unitary systems and the use of heat pumps is expanding.”

While growth in commercial HVAC sales for energy-efficient buildings is recovering in the United States, that growth is counterbalanced by sharp declines in China and is tempered by stagnation in Europe, according to the report. However, energy-efficient commercial HVAC equipment is still expected to experience moderate to strong growth globally through 2024, driven primarily by stricter environmental standards and demand for lower operating costs.

The report, Energy-Efficient HVAC Systems for Commercial Buildings, analyzes the global market opportunity for commercial HVAC systems including unitary systems, heat pumps, furnaces, boilers, VRF systems, chillers, and geothermal heat pumps.

An executive summary of the report is available here.

Publication date: 8/11/2015