The global HVAC insulation market was valued at close to $4 billion in 2015 and is expected to surpass $5 billion by 2020, says Technavio.
Technavio has announced its latest market research report on HVAC insulation during the forecast period, 2016-2020. This market analysis, under the engineering tools vertical, discusses the major drivers and key emerging trends that will influence the growth of the global HVAC insulation market during the forecast period. Some of the top vendors listed in this industry analysis include Johns Manville, Knauf Insulation, Owens Corning, ROCKWOOL, and Saint-Gobain ISOVER.
In terms of geographical analysis, APAC will be the largest region in the global market and is expected to reach revenues of almost $3 billion by 2020. China, India, Indonesia, and Japan will emerge as the key revenue-generators.
“The commercial sector is adopting green systems in buildings to promote a healthy and productive environment, increase efficiency, and reduces the impact on the surroundings. The introduction of LEED certification or Energy Star designation is encouraging vendors and end-users to invest in energy saving technologies. Various organizations are also building energy management systems (BEMS) that aim to minimize energy savings and reduce GHG emissions,” says Anju Ajaykumar, a lead analyst at Technavio for research on engineering tools.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Increased construction activities
The new construction activities in the residential, commercial, and industrial sectors are boosting the demand for HVAC systems and HVAC insulations in the market. These systems help in improving the operational efficiency of the building resulting in higher revenues in the market. The manufacturers in the market are focusing on energy efficiency for buildings by implementing innovative technology while designing the premises. The implementation of various government regulations across the globe is encouraging vendors to concentrate on the development of systems that comply with the industry standards.
Accelerating demand for HVAC equipment
The growing concerns about energy consumption and carbon emissions will drive the growth of the HVAC insulation market. Various countries are focusing on air quality monitoring to prevent the increase in respiratory diseases due to the rampant pollution resulting in the increasing demand for HVAC systems. The rising the deployment of HVAC equipment in commercial, domestic, and industrial buildings will create a requirement for efficient and effective insulation systems. The use of technologically advanced insulation systems help reduce energy consumption, increase ROI, and reduce energy costs.
Growing energy conservation awareness
The growth in industrial activities increases energy consumption and is creating the awareness and the need for energy conservation. The storage of energy resources is prompting government agencies and building owners across the world to focus on optimizing energy consumption by adopting advanced HVAC insulation. HVAC insulation such as fiberglass, rock wool, and foamed plastics have the potential to save more energy that the traditional systems.
Other prominent vendors identified in this report are Armacell, CSR Building Products, K-Flex USA, Kingspan, and Huntsman.
This research report includes an in-depth analysis, market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global HVAC Insulation Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Commercial HVAC Market 2016-2020
- Global Automotive HVAC Market 2016-2020
- Global Cold Insulation Market 2015-2019
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