B_1015_News_hvac

Commercial HVAC Market to Grow Through 2024

Oct. 8, 2015

Focus on efficient buildings, stringent regulations projected to drive gains.

While the commercial HVAC market is still recovering from the effects of the 2009 financial crisis, it is expected to make a strong recovery and grow by over 100% by 2024. The study, conducted by Navigant Research, shows that general improvements in the economy and a renewed focus on efficiency in buildings are the main drivers for near term growth. Over the long term, stringent energy regulations are also expected to play a role in the increasing value of commercial HVAC.

With findings from Oak Ridge National Laboratory showing that commercial buildings using approximately 12% of the world’s energy, the report’s authors point to rising concerns about the environmental impact of energy generation and uncertainty over future energy prices as other reasons for projecting the global market to grow from its current value of $22.8 billion to $47.5 billion in 2024.

Looking to boost your HVAC system’s efficiency? Check out these tips to maximize economizer performance.

Voice your opinion!

To join the conversation, and become an exclusive member of Buildings, create an account today!

Sponsored Recommendations

Building Better Schools

Download this digital resource to better understand the challenges and opportunities in designing and operating educational facilities for safety, sustainability, and performance...

Tips to Keep Facility Management on Track

How do you plan to fill the knowledge gap as seasoned facility managers retire or leave for new opportunities? Learn about the latest strategies including FM tech innovations ...

The Beauty & Benefits of Biophilic Design in the Built Environment

Biophilic design is a hot trend in design, but what is it and how can building professionals incorporate these strategies for the benefits of occupants? This eHandbook offers ...

The Benefits of Migrating from Analog to DMR Two-Way Radios

Are you still using analog two-way radios? Download this white paper and discover the simple and cost-effective migration path to digital DMR radios that deliver improved audio...