NEW YORK, July 12, 2016 /PRNewswire/ -- "Increasing demand for HVAC systems in building infrastructure drives the HVAC insulation market"
The global HVAC insulation market size is estimated to reach USD 5.29 billion by 2021 at a CAGR of 8.20%. With the rising per capita income, the standard of living is also increasing, which further translates to the rising demand for comfort and safety requirements among consumers. HVAC system is among these key requirements, which maintains internal ambience and comfort of a building. However, a huge amount of energy is required to run the HVAC system of a building. Therefore, insulation of the HVAC system is a key remedy to reduce the energy consumption of HVAC system in order to improve energy efficiency of the building.
"Commercial buildings: The largest application segment of HVAC Insulation"
HVAC insulations are used in various applications, such as residential, commercial, and industrial buildings. In 2015, the commercial segment accounted for the largest market share among all the applications, in terms of value, due to the larger size of HVAC systems used in these buildings and their consequently higher cost. Among all the applications, residential is estimated to register the highest CAGR between 2016 and 2021 in terms of value.
"Rising demand for HVAC insulation from the developing markets of Asia-Pacific is the major driver for the HVAC insulation market"
In 2015, Asia-Pacific is estimated to account for the largest market share, and is estimated to remain the market leader during the forecast period. High growth of the construction industry in China, India, Indonesia, and Australia resulted in an increased demand for HVAC insulation in both residential and non-residential building applications. This growth is further supported by the increasing energy efficiency awareness in the emerging countries of Asia-Pacific. China accounted for the largest market share in this region due to the huge construction industry of the country. Other emerging economies, such as India, Indonesia, UAE, and Saudi Arabia are the markets which are projected to grow rapidly.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The breakdown of primary interviews is given below.
- By Company Type - Tier 1 - 33%, Tier 2 – 60%, and Others - 7%
- By Designation - C level - 56%, Director level - 33%, and Others - 11%
- By Region - North America - 13%, Western Europe - 23%, Central & Eastern Europe-11%, Asia-Pacific - 20%, the Middle East & Africa - 13%, and Latin America - 7%
The key companies profiled in this market research report are Saint Gobain S.A. (France), PPG Industries Inc. (U.S.), Owen Corning Corporation (U.S.), Rockwool International A/S (Denmark), Armacell International S.A. (Germany), Johns Manville Corporation (U.S), Xiamen Goot Advanced Material Co., Ltd. (China), L'ISOLANTE K-FLEX S.p.A. (Italy), Glassrock Insulation Co S.A.E (Egypt), Knauf Insulation (Belgium), Arabian Fiberglass Insulation Co., Ltd. (Saudi Arabia), Fletcher Insulation Pty Ltd. (Australia), Kingspan Group plc (Ireland), Kuwait Insulating Material Manufacturing Co. (Kuwait), Paroc Group OY (Finland), and other local players.
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the HVAC insulation market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. It will help stakeholders to understand the dynamic of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. It will help stakeholders to understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes expansion, acquisitions, agreement, innovation, and new product developments,.
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