PUNE, India, October 26, 2016 /PRNewswire/ --
The report "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", published by MarketsandMarkets, the global market is projected to reach USD 13.44 Billion by 2021, at a CAGR of 6.56% from 2016 to 2021.
Browse 75 market data Tables and 58 Figures spread through 142 Pages and in-depth TOC on "Variable Air Volume Systems Market"
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This growth is expected to be driven by the high demand for HVAC systems and the resulting increasing demand for VAV systems in the Asia-Pacific, South American, and the Middle-Eastern & African regions.
Single Duct VAV System: The most-widely used type variable air volume system
The single duct VAV system is widely used for HVAC systems due to advantages such as lower energy use, better dehumidification at part load, and less fan-generated noise at reduced speeds. These systems are commonly used in densely populated and large areas such as gymnasiums, cafeterias, lecture halls, auditoriums, large meeting rooms, churches, and arenas. They are available in the form of large air-handling units and rooftop units. With the increasing need for energy efficiency, the single duct VAV systems are being adapted for use in smaller areas such as classrooms, retail stores, dormitories, and offices.
Commercial buildings: The largest application of variable air volume systems
Commercial buildings are the largest application of the VAV systems. VAV systems are used widely for all kinds of commercial buildings, including towers, skyscrapers, auditoriums, office buildings, mega structures, convention centers, shopping malls, supermarkets, warehouses, hotels, restaurants, and others. Increasing population and increasing business opportunities have created a rising need for commercial infrastructures, requiring the application of VAV systems, which is driving the global variable air volume systems market.
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Asia-Pacific: The largest market for variable air volume systems
The Asia-Pacific region leads the global Variable Air Volume Systems Market and the trend is expected to continue till 2021. Countries in this region such as China, India, Japan, South Korea and Indonesia are witnessing a significant increase in the use of VAV systems for HVAC systems in commercial buildings. This region is undergoing rapid economic expansion and therefore growing at the highest rate. Globally, China is projected to be the fastest-growing market from 2016 to 2021.
The VAV systems market has very few global players competing for their market shares. These companies are actively investing in various strategies such as new product developments and expansions to increase their market shares. Major players such as United Technologies Corporation (U.S.), Honeywell International, Inc. (U.S.), Ingersoll Rand Inc. (Ireland), Johnson Controls (U.S.), The Emerson Electric Co. (U.S.), and others have adopted various organic developmental strategies.
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