Rapid urbanization and infrastructural developments across the globe are expected to drive the variable air volume system market. Growing concerns regarding sustainability and energy consumption in residential and commercial sectors are further pushing sales in the market. The ongoing expansion of the healthcare and retail sector in countries in the Middle East and Africa is expected to boost the adoption of variable air volume systems.
NEWARK, Del, July 29, 2024 (GLOBE NEWSWIRE) — According to Future Market Insights (FMI), the variable air volume (VAV) system market is expected to grow at a CAGR of 10.2%, driven by increasing demand for energy-efficient HVAC systems. The industry is expected to reach USD 38,247 Million by 2034 because of stringent regulations regarding energy efficiency and environmental sustainability. The industry is anticipated to hold a value of USD 14,480 Million in 2024 due to the growing trend of smart buildings and automation technologies in the commercial and residential sectors.
The variable air volume system market is currently focused on meeting the needs of building occupants, with a growing emphasis on radiant cooling systems to improve energy efficiency and thermal comfort. Integrating occupant surveys into system control allows for better identification and resolution of thermal comfort issues.
VAV systems help meet building codes’ minimum ventilation requirements by using demand-controlled ventilation strategies based on real-time occupancy and air quality data. Advanced technologies, such as dedicated outdoor air systems are also gaining traction in the industry by restricting airflow to ventilation components, reducing energy needs for heating and cooling. These advancements are particularly beneficial for buildings with low cooling demands, offering opportunities for energy savings and improved operational efficiency.
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In the realm of cooling technologies, indirect evaporative cooling has gained popularity for its ability to cool indoor spaces without raising humidity levels. This technology is being leveraged in green buildings to enhance indoor climate conditions and save significant energy. The Asia-Pacific region is projected to lead in terms of the adoption of VAV systems. Growth is driven by factors such as increasing disposable income and a shift towards high standards of living.
The rising utilization of air volume modulation systems in various applications, including commercial, residential, and industrial buildings, contributes to the sector’s growth in this region. The commercial building and construction sector is experiencing increased demand for variable air volume (VAV) systems due to their compact designs and various benefits, including low power consumption, reduced fan noise, and enhanced precision.
Despite these advantages, the industry faces challenges such as high installation and maintenance costs compared to traditional constant air volume (CAV) systems, as well as fluctuations in raw material prices. Additionally, the lack of skilled labor and stringent governmental regulations pose significant restraints to industry development. Overcoming these challenges will be crucial for sustained market growth and widespread implementation of air volume modulation systems in various sectors.
Industrialization, energy consumption, and government regulations play a crucial role in shaping the market for air volume modulation systems. There is a strong emphasis on energy efficiency and government-building energy codes.
What are the Opportunities in the Variable Air Volume System Market?
Stringent regulations regarding sustainability and energy consumption in various countries are expected to create opportunities for growth in the market. In addition to this, rising investments in the development of infrastructural projects across the globe will boost the market in the forthcoming years.
Surging demand for single-zone variable air volume systems is projected to gain traction over the forecast period. These systems offer higher energy efficiency, less fan noise, and better dehumidification. The design of these systems is compact, which makes them easier to install and manage.
Further, increasing preference for centralized cooling systems in public places such as auditoriums, theatres, hotels, restaurants, malls, and supermarkets is pushing sales in the market. As per FMI, this trend is expected to continue over the forecast period.
What are the Challenges in the Variable Air Volume System Market?
Complexity in the design of high-volume variable air volume systems involves high capital investments, which is hindering growth in the market. Providing adequate temperature control in multiple zones with different climatic conditions acts as a challenge in these systems.
Further, the installation of multiple ducts is a cumbersome process and requires extra fitting and redesigning in commercial spaces. This might negatively impact sales of variable air volume systems in the forthcoming years.
“The variable air volume system market presents opportunities in energy-efficient HVAC innovations and improved indoor climate conditions. It is driven by factors such as rapid industrialization and strict government regulations,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Key Takeaways from the Variable Air Volume System Market Report:
- The VAV system industry is anticipated to be worth USD 14,480 Million in 2024.
- In 2024, the single zone VAV segment is expected to account for around 45.4% share in terms of product.
- France is projected to showcase a CAGR of 7.1% in the forecast period.
- Spain is anticipated to register a CAGR of 7.7% over the forecast period.
Competitive Landscape:
The variable air volume (VAV) system market is fiercely competitive, with top manufacturers and new entrants focusing on innovation. These systems are vital for energy-efficient temperature control and air quality management in commercial buildings.
Companies are heavily investing in research and development for advanced VAV systems with IoT integration. Moreover, they are offering custom solutions, forging strategic partnerships, and targeting high-growth regions to drive market growth. Emphasizing compliance with green building standards and providing robust after-sales service further enhances customer satisfaction and contributes to success in the VAV system market.
- Vemco Inc., based in Pittsburgh, Pennsylvania, is a key supplier of full-scale energy management solutions, encompassing HVAC control systems and building automation technologies.
- Trane Inc., headquartered in Swords, Ireland, is a well-known global supplier of heating, ventilation, and air conditioning (HVAC) systems and services, delivering sustainable and effective solutions for residential, commercial, and industrial uses.
Leading Players in the Variable Air Volume System Market:
- Honeywell International Inc.
- Schneider Electric
- KMC Controls Inc.
- Vemco Inc.
- Trane Inc.
- Emerson Climate Technologies
- Johnson Controls
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Get More Insights into the Variable Air Volume System Market Report:
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the variable air volume system industry, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the region’s industry potential, growth, and scope, the industry is segmented based on product types (single zone VAV and multiple zone VAV), applications (residential, commercial, and industrial), and regions.
Variable Air Volume System Market Segmentation Analysis:
By Product Type:
- Single-zone VAV
- Multiple-zone VAV
By Application:
- Residential
- Commercial
- Industrial
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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The industrial automation division of Future Market Insights offers a novel approach and innovative perspective in analyzing the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of the installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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