Variable Air Volume Systems Market by Type (Single Duct VAV, Dual Duct VAV, Induction VAV, and Fan Powered VAV), Application (Residential Buildings, Industrial Buildings, Commercial Buildings) - Global Forecast to 2021
LONDON, Nov. 3, 2016 /PRNewswire/ -- "High demand from HVAC systems in commercial buildings driving the Variable Air Volume (VAV) systems market"
The global market for variable air volume (VAV) systems is projected to reach USD 13.44 billion by 2021, at a CAGR of 6.56% from 2016 to 2021. Increasing demand from the HVAC systems in commercial buildings is the major driver for the VAV systems market. Lower awareness about VAV systems restricts the market and is a major restraint for the global VAV systems market. The global VAV systems market is expected to grow with the increasing demand for HVAC systems in major economies such as India, China, Japan, the U.S., the Middle East, and others.
"Commercial buildings, the fastest-growing application for variable air volume systems"
The growth of the global VAV systems market is mainly due to the increasing demand for the use of VAV systems in the HVAC systems used in commercial, industrial, and residential buildings. Commercial buildings are the fastest-growing application for VAV systems products. The Asia-Pacific region is the fastest-growing region for the application of VAV systems, as the various countries in Asia, mainly India and China are growing at a rapid pace and expanding exponentially with a high growth in the numbers of commercial buildings such as hotels, offices, and malls.
"Asia-Pacific, the largest and fastest-growing market for variable air volume systems"
The Asia-Pacific region is the largest market for VAV systems globally, with China leading the market. The market in the region is also witnessing the highest growth rate, which is attributed to the rapid economic expansion the region is undergoing.
This study has been validated through primary interviews conducted with various industry experts globally. The breakdown of primary interviews on the basis of company type, designation, and region is given below:
- By Company Type- Tier 1- 33%, Tier 2- 59% and Tier 3- 8%
- By Designation- Directors-17%, C level- 25%, and Others- 58%
- By Region- Europe- 8%, Asia-Pacific- 67%, North America- 8%, Middle-East & Africa- 17%
The report also includes company profiles and competitive strategies adopted by the major market players such as United Technologies Corporation (U.S.), Honeywell International Inc. (U.S.), Ingersoll Rand Inc. (Ireland), KMC Controls (U.S.), Johnson Controls (U.S.), Emerson Electric Co. (U.S.), and Daikin Industries, Ltd. (Japan).
Research Coverage
This report covers the market for VAV systems by value and forecasts the market size till 2021. The report includes the market segmentation by type, application, and region. It also includes company profiles and competitive strategies adopted by the major market players in the global VAV systems market.
Reasons to buy the report:
- To understand the global, regional, and national scenarios
- To understand the market trends and dynamics along with the key factors affecting it
- To identify the present and upcoming market opportunities
- To identify the potential markets in various regions for variable air volume systems
- To track the recent developments in the variable air volume systems market
- To understand the competitive background of the industry, and positioning of participants in the market
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