INDUSTRY REPORT
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“ Building codes , energy regulations and rising operating costs are encouraging building developers to upgrade existing HVAC infrastructure to Smart HVAC equipment .”
INDUSTRY REPORT
CLIMATE CONTROL
HVAC ( heating , ventilation and air conditioning ) systems are designed to create and maintain a comfortable and healthy indoor environment , no matter the weather outside . They play a crucial role in residential homes , commercial buildings and industrial facilities by regulating temperature , ensuring adequate ventilation and improving air quality . Analyst BCC Research projects the global HVAC market to reach US $ 346.7 billion by 2028 , growing at a 5.6 % CAGR .
HVAC systems are installed in two main ways : new construction and retrofitting or replacement . New construction refers to installing HVAC systems in newly built structures ( such as homes , offices or commercial buildings ). Retrofitting and replacement involves upgrading or replacing existing HVAC systems in older buildings to improve efficiency , performance or to meet updated regulations or standards .
Energy efficiency is a major driver for the HVAC market , influenced by stringent regulations and standards aimed at reducing carbon footprints
We highlight trends , technological developments and innovations in global HVAC ( heating , ventilation and air conditioning ) markets for manufacturers .
“ Technological developments in HVAC systems have made them more efficient , smarter and better for the environment . New systems use less energy , saving money and reducing emissions . Smart controls allow users to adjust settings remotely with smartphones , while artificial intelligence ( AI ) and IoT integration helps systems to learn preferences , predict maintenance needs and optimise performance . Improved filters and ventilation also enhance indoor air quality , making spaces healthier and more comfortable ,” outlined BCC Research .
“ Upgrading to advanced HVAC systems can cut energy use by 50 %, and integrating AI and IoT can save an additional 20-25 % on electricity ,” it added .
32 | ismr . net | ISMR November 2024