London, 21 July 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market in Europe, which is expected to grow at CAGR of 2.88 percent from 2013-2018.
HVAC systems are used in buildings to help with their mechanization. They are primarily used to provide good indoor air quality through adequate ventilation and air filtration. They use equipment such as heat exchangers, pumps, and fans to control and regulate the humidity and temperature in rooms. HVAC systems are widely used across various sectors including the commercial and residential sectors.
Key Market Drivers
- Need for Energy-efficient HVAC Systems
- Stringent Energy and Environmental Regulations
- Aging Population
- Recovery in Developed Market
Key Market Trends
- Recovery in Construction Industry
- Increased Use of Green Technology and Renewable Energy Sources
- Evolution of Monitoring Systems and Intelligent Technology
- Development of User-friendly Energy-efficient Equipment
“HVAC control systems are going through a rapid technological development phase,” says Faisal Ghaus, Vice President of TechNavio.
“Currently, vendors offer HVAC systems equipped with advanced control systems. There are various types of HVAC control systems, including sensors, field devices, floor-level controllers, and building-level controllers. These help reduce energy consumption and enhance the performance of these units.”
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
