HVAC Commercial Market

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The global market for air conditioning systems was pegged at a value of $104.4 billion in 2015 and is projected to rise to $167 billion by the end of 2024, expanding at a 5.1 percent compound annual growth rate (CAGR) from 2016 to 2024, according to a report from Transparency Market Research.

Mitsubishi Electric US Cooling & Heating Division has announced a collaboration with JB & Associates Extended Warranties LLC. (JB&A) to be its new provider of extended service agreements.

US Chiller Services, provider of repair, maintenance, retrofit, and servicing of large tonnage chillers, has entered into a joint venture with New York-based HVAC specialist, The BP Group, to offer a full range of HVAC services for large tonnage chillers and equipment to an expanded client portfolio in the New York tri-state area.

Aerco International, a Watts company and a leading supplier of boilers and water heating products, has announced that James F. Dagley has been appointed as the company’s new president.

The technical program has been set for the ASHRAE and IBPSA-USA SimBuild 2016: Building Performance Modeling Conference. The conference takes place Aug. 10-12 in Salt Lake City.

Babcock & Wilcox Enterprises Inc. (B&W) announced it has completed its acquisition of SPIG S.p.A., a global provider of custom-engineered cooling systems and services. The acquisition is based on an enterprise value of €155 million, subject to certain adjustments.

The integrated data center energy management market is expected to emerge first within campus environments and large facilities with significant data center resources onsite, notes Navigant Research.

Enrgistx Inc. announced that it has signed an exclusive agreement to distribute the full product line of Shuangliang Eco-Energy Systems Co. Ltd. in the United States. These products include absorption chillers, heat pumps, air-cooled condensers, and desalination systems.