The worldwide variable air volume systems industry is predicted to be worth close to USD 11.5 billion in 2020 and is predicted to attain USD 16.3 billion by the end of year 2025, with a current CAGR of 6.8% during the foreseen period. Variable air volume (VAV) systems are defined as HVAC (heating, ventilation and air conditioning) systems that are responsible for providing air flow at different temperatures and pressures to the infrastructure in which they are installed. These are very efficient methods of air supply, as they can induce greater energy efficiency in infrastructure by reducing the supply of airflow when the need is reduced and saving energy consumption for your operations.
Market drivers and restraints:
Escalated disposable income, sustainability concerns, escalated infrastructure investments, energy efficiency legislations are some of the key factors driving the expansion of the variable air volume systems market. Installation costs are very specific to the application, construction and design of the building and whether it is new or updated. Escalating construction activity around the world is predicted to drive the market during the foreseen period. The escalating need for variable air volume systems in various business sectors such as offices, hotels, shopping malls and warehouses has also contributed significantly to the growing call from the Vav market. Escalating emphasis on and understanding of growing energy use is also predicted to drive call expansion in the coming years. Growing environmental concerns and energy efficiency regulations imposed by governments in various countries are another factor driving this expansion in call. The high volume of ongoing construction activity worldwide is predicted to have a positive impact on market expansion. Escalated focus and awareness on reducing energy consumption; This factor is predicted to drive market expansion. Escalated personal income coupled with strong concern about sustainability of operations is predicted to drive market expansion. Growing concerns about sustainability and energy efficiency laws are another factor driving the expansion of this market. The availability of several alternative systems and technologies that can be employed for similar functions is predicted to slow market expansion.
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Report segmented as:
· Single duct VAV
· Dual duct VAV
· Induction VAV
· Fan Powered VAV
· Residential buildings
· Industrial buildings
· Commercial buildings
North America is the largest market for variable air volume (VAV) systems, due to their escalating use in various applications such as commercial buildings, residential buildings, and industrial buildings. High per capita income, huge clientele, high standard of living, and huge migration rate due to industrial development have driven the expansion of residential and commercial infrastructure in the region. All these attributes should drive VAV system installations in the region. North America led the worldwide industry for variable air volume systems on the basis of industry revenue, followed by Europe. Asia Pacific and Japan are predicted to experience substantial expansion and contribute to the worldwide market value of Variable Air Volume System showing strong CAGR over the foreseen period.
Important market players:
Few of the major competitors currently working in the global variable air volume (VAV) systems market are Johnson Controls; Ingersoll-Rand plc; Honeywell International Inc; United Technologies Corporation; DAIKIN INDUSTRIES, Ltd.; Siemens; Emerson Electric Co.; TROX GmbH; KMC Controls; Schneider Electric; Systemair AB; KAD AIR CONDITIONING; METAL INDUSTRIES, INC.; Halton Group; Dynacraft Air Controls; Advanced Air UK Ltd; Waterloo Air Products Plc; Airmaster Equipments Emirates LLC among others.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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