International. Navigant Research published a new report analyzing the global market for seven energy efficiency technologies for commercial HVAC.
It notes that HVAC equipment accounts for almost 40% of total global energy consumption in buildings, while commercial buildings consume about 12% of the world's energy supply.
Because concerns about the environmental impact of power generation and uncertainty about future energy price increases, efficiency improvements in commercial HVAC equipment are becoming increasingly attractive. According to the report, global revenue from commercial energy efficiency HVAC systems is expected to increase from $22.8 billion in 2015 to $47.5 billion in 2024.
While commercial sales growth of HVAC for energy-efficient buildings is recovering in the United States, that growth is offset by sharp declines in China and is tempered by stagnation in Europe, according to the report. However, energy-efficient commercial HVAC equipment is still expected to experience moderate to strong growth globally through 2024, driven primarily by stricter environmental standards and demand for lower operating costs.
