Heating And Cooling

The global energy generation & consumption has observed a significant transition provided with the paradigm shift toward efficient fuel sources. Countries across the globe have unveiled projects to expand the output of different fuels to cater to the exponentially mounting consumption of heating & cooling solutions. Energy intake has also excessively grown owing to the setup of new large-scale industries consisting of manufacturing, pharmaceuticals, and petrochemicals coupled with other energy-intensive sectors including building infrastructures and transportation fleets.

The increasing primary energy consumption globally has resulted in growing investments in a wide range of technologies. A variety of conventional & unconventional fuels have experienced a strong demand to support the low-carbon energy generation. In addition, a wide array of end-use verticals including residential, commercial, and industrial are increasingly heading toward centralized temperature maintenance solutions to enhance energy efficiency and output to vast areas. Furthermore, favorable policy frameworks to support the adoption of different-sized co-generation systems operating on a variety of fuels are catering to the rising thermal energy demand across establishments. Moreover, the governments have also introduced several financial benefit programs including tax rebates, subsidy programs, low-interest loans, among others, to retain consumers toward the acceptance of cleaner alternatives.

The integration of digitalized alternatives has reformed the energy value chain, creating substantial developments in energy management across various establishments. The growing combination of advanced technologies including Internet of Things (IoT) and automation solutions has streamlined the prevailing electricity & heat production and delivery mechanisms. The increased rate of diffusion of innovative technologies by small & large industry participants is helping them to strive toward incorporating new solutions to provide energy value chain with enhanced resiliency.

Drivers:

• Increasing investments and public-private participation toward infrastructure development along with the deployment of energy efficient products including heat pumps has created a positive business scenario across the globe.
• Extreme variation in climatic temperatures across different geographies have propelled the deployment of advanced heating & cooling solutions over the years.
• Rising concerns on account of increasing surface temperatures and focused regulatory policies toward energy efficiency has enhanced the adoption of sustainable technologies.
• Stern policy framework for carbon emissions & green energy buildings along with increasing focus on the adoption of sustainable heating & cooling systems will complement the industry growth.
• Increasing share and contribution of renewables in the heating & cooling sector along with growing focus on regulations comprising of National Energy & Climate Plans (NECPs) primarily in the European countries will augment the business landscape.
• Growing demand for space heating and cooling along with upsurge in the energy consumption specifically in the residential sector is set to spur the market growth.