Industry Background:
Variable air volume is a type of ventilating, heating, or/and air-conditioning system. It supplies constant airflow at variable temperatures. There are numerous factors positively impelling the variable air volume systems market growth. The principle driving factor is growing applications in commercial buildings. Additionally, single-duct variable air volume systems expected to market significant growth during the forecasted period. Moreover, rising demand from the developing economies expected to generate lucrative opportunities for the market players.This growth is primarily driven by Increasing Construction Activities Worldwide and Growing Awareness about Reducing Energy Consumption.
Globally, a noticeable market trend is evident Technological Advancement in the Variable Air Volume Systems. Major Manufacturers, such as Ingersoll Rand (Ireland), Honeywell International Ltd (United States), United Technologies Corporation (United States), Daikin Industries Ltd. (Japan), Johnson Controls (United States), Siemens (Germany), Emerson Electric Co (United States), TROX (Germany), DAIKIN INDUSTRIES, Ltd., (Japan), KMC Controls (United States) and Barcol Air Ltd (Switzerland) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
21st March 2019, Trox GmbH entered in a joint venture with air conditioning supplier and manufacturer in Egypt, Tiba El Manzalawi Group. With this joint venture, the company aims to expand its business in the Egyptian market as well as other markets in the North & East Africa and the Middle East.
11th June 2019, Johnson Controls expanded its production facilities in East China to widen its subsidiary, York (Wuxi) Air Conditioning and Refrigeration Co. Ltd. It will help the company to establish its position in the APAC region.
Market Drivers
- Increasing Construction Activities Worldwide
- Growing Awareness about Reducing Energy Consumption
Market Trend
- Technological Advancement in the Variable Air Volume Systems
Restraints
- High Cost of Variable Air Volume Systems
- Complex and Costly Installation Process
Opportunities
Rising Demand from the Commercial Sector and Increasing Demand from the Developing Economies
Challenges
Lack of Awareness about Variable Air Volume Systems and Availability of Alternative Technologies
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