Driven by environmental policy uptake and increasing gasification in Asia, the domestic boiler market grew in 2016 to 12.7 million units, with China recording the most dynamic market uptake. The growth in the China and South Korea markets resulted in the UK dropping from being the largest world market for domestic boilers to the third largest, according to the latest Building Services Research & Information Association (BSRIA) market intelligence study.
The global cooling towers market is expected to reach $4.85 billion by 2025, according to a new report conducted by Grand View Research Inc. Cooling towers are used in power plants, particularly in thermoelectric power plants, to remove excess heat from the plant.
The global economizer market was valued at $7.70 billion in 2016 and is projected to reach $11.54 billion by 2022, growing at a compound annual growth rate (CAGR) of 6.7 percent from 2017 to 2022, according to the report, "Economizer Market by Type (Fluid Economizers and Air-side Economizers), Application (Power Plants, Boilers, HVAC, Refrigeration, and Data Centers), End-use Industry (Industrial and Commercial), Region - Global Forecast to 2022", published by MarketsandMarkets™.
According to the 2017 HVAC equipment market report, the global HVAC equipment market to grow at a compound annual growth rate (CAGR) of 4.9 percent during the period 2017-2021. The latest trend gaining momentum in the HVAC equipment market is rise in incorporation of building automation systems (BAS).
The global ventilation equipment market will reach $25 billion in revenues in 2017 and is estimated to reach $40 billion by 2025, expanding at 5.5 percent compound annual growth rate (CAGR), per a recent report from Persistence Market Research (PMR).
Central air conditioning (CAC) systems and direct expansion (DX) central air conditioning systems are projected to witness 6.7 percent growth in unit shipments and 7.2 percent in shipments value during the 2017-2022 analysis period.
The demand for unitary air conditioners is forecast to expand at a 4.9 percent yearly rate through 2021 reaching $11.0 billion and continuing to outperform air conditioning equipment sales as a whole. The replacement of units that have reached the end of their operational lives will remain the primary driver of sales.