SINGAPORE, Jan. 18 /PRNewswire/ -- With various governments implementing national or regional initiatives and programs to encourage energy conservation activities, the 'green' trend is taking off in a big way in the Asia Pacific. The governments' endeavors offer tremendous opportunities to technologists in the green and energy efficiency space in the heating, ventilating, and air conditioning (HVAC), building automation systems (BAS), and lighting systems markets.
New analysis from Frost & Sullivan (http://www.buildingtechnologies.frost.com), Strategic Analysis of Green Technologies Market - Energy Efficiency (HVAC, BAS, and Lighting), finds that market is likely to register more than 10 percent growth annually until 2015 due to the increasing price of conventional energy.
The Green Building trend is breaking out of the confines of the Japanese market and is gaining currency in many other countries in the Asia Pacific. Despite green technologies' high costs, consumers are increasingly basing their purchase decisions on the product's environment friendliness and their ability to reduce energy costs and carbon footprints.
In fact, this enhanced environmental consciousness among consumers is compelling companies and industries to become more responsible corporate citizens and invest in green HVAC, BAS, and lighting systems. Even the businesses and building owners that deem these technologies too expensive to install and maintain can be persuaded with a demonstration of the technology's long-term returns on investment.
"Green HVAC, BAS, and lighting technologies can greatly improve the bottom line of the business, provided that they are applied properly," says Frost & Sullivan Consultant Melvin Leong. "They generate financial benefits through energy efficiency, energy and water savings, reduced wastage, improved indoor environmental quality, greater employee comfort or productivity, as well as lower operations and maintenance costs."
These benefits have to be conveyed using effective promotion, education, and public awareness programs through collaborations with all parties such as the government, non-government organizations (NGOs), businesses, and the media.
By advertising their green drives, companies can also set themselves apart in their markets. A proper policy framework and enforcements on green efforts and initiatives could also give a huge boost to the market.
Meanwhile, the steady stream of innovations in green technologies are finding their way into HVAC, BAS, and lighting systems.
"The HVAC segment has been using advanced technology that allow air conditioners to intelligently lower power levels once the ideal ambient temperature is reached, which, in turn, lowers users' electricity bills," notes Leong. "In the BAS sector, building owners and facility managers are provided with a web-based BAS that unifies diverse equipment systems and control devices into a single, easy-to-navigate website."
In the lighting sector, energy management systems installed in lighting fixtures have a detector that measures the amount of natural light from any nearby windows or natural light source to control the dimness of the lighting equipment.
As R&D plays a vital role in developing new green HVAC, BAS, and lighting technologies, governments or NGOs have to provide financial grants or assistance to the developers. Market participants could also establish strong linkages among international or regional research institutions in green technology in order to stay abreast of the latest technological developments.
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Strategic Analysis of Green Technologies Market - Energy Efficiency (HVAC, BAS, and Lighting)
SOURCE Frost & Sullivan