Variable Air Volume Systems Market Worth $13.44 Billion by 2021
The single duct VAV system is the most widely used
PUNE, India — The global variable air volume (VAV) systems market is projected to reach $13.44 billion by 2021, at a compound annual growth rate (CAGR) of 6.56 percent from 2016 to 2021, according to a new report published by MarketsandMarkets.
This growth is expected to be driven by the high demand for HVAC systems and the resulting increasing demand for VAV systems in the Asia-Pacific, South America, and the Middle-East & Africa regions.
The single duct VAV system is the most widely used for HVAC systems due to its advantages such as lower energy use, better dehumidification at part load, and less fan-generated noise at reduced speeds. These systems are commonly used in densely populated and large areas such as gymnasiums, cafeterias, lecture halls, auditoriums, large meeting rooms, churches, and arenas. They are available in the form of large air-handling units and rooftop units. With the increasing need for energy efficiency, single duct VAV systems are being adapted for use in smaller areas such as classrooms, retail stores, dormitories, and offices.
Commercial buildings are the largest application of VAV systems. VAV systems are used widely for all kinds of commercial buildings, including towers, skyscrapers, auditoriums, office buildings, mega structures, convention centers, shopping malls, supermarkets, warehouses, hotels, restaurants, and others. Increasing population and increasing business opportunities have created a rising need for commercial infrastructures, requiring the application of VAV systems, which is driving the global variable air volume systems market.
The Asia-Pacific region leads the global VAV systems market and the trend is expected to continue to 2021. Countries in this region such as China, India, Japan, South Korea, and Indonesia are witnessing a significant increase in the use of VAV systems for HVAC in commercial buildings. This region is undergoing rapid economic expansion and therefore growing at the highest rate. Globally, China is projected to be the fastest growing market from 2016 to 2021.
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Publication date: 11/4/2016