HVAC Centrifugal Compressors Market Analysis

HVAC Centrifugal Compressors Market Analysis

Chillers are estimated to hold over 60% industry share in 2016. Globally, the expansion of commercial spaces, such as corporate offices and organized retail outlets, are likely to propel HVAC installations. Increasing demand for modern heating, ventilation, and air conditioning systems which offer better comfort, reliability, and cost-friendly solutions will provide a strong business outlook for manufactures. Regular energy audits in commercial and industrial sectors to regulate electricity consumptions is anticipated to trigger the replacement demand.
 

Heat pumps are expected to witness CAGR over 2% up to 2024. Improved demand for industrial and commercial applications to reduce greenhouse gases supporting this segment growth. Key properties as accurate pressure control, pressure ratio, and better reliability fuelling centrifugal heat pump system application. These factors are expected to enhance the HVAC centrifugal compressors market size over the forecast time frame.
 

North America HVAC centrifugal compressors accounted for over 15% industry share in 2016. Growing industrial sector is expected to fuel construction spending, which will propel regional energy requirements. Increasing necessity to reduce energy wastage and CO₂ footprint driving adoption of energy efficient system. In addition, improved demand for centralized cooling systems for commercial spaces will boost the industry growth.
 

MEA is expected to witness significant HVAC centrifugal compressors market growth over 2.5% the forecast period. Emerging economies including Saudi Arabia, Qatar, and Kuwait are set to witness a robust industrial growth. Favourable socio-economic conditions and government support to boost regional competitiveness will influence the overall market size. For instance, The Expo 2020-Dubai drives the high volume of constructional activities across the Emirates. As per the Expo 2020-Dubai Infrastructure Development, over USD 8 billion investment is allocated for infrastructure projects.