What's driving the Heating & Cooling Market trends? Danfoss, Johnson Control, Siemens
Heat derivatives accounted for a significant portion of the overall energy consumption and is expected to sustain a proportionate growth. Rapid adoption of cogeneration technologies coupled with technological improvements across micro CHP installations will positively influence the business scenario. In addition, rising share of electricity-based heat supply networks along with integration of renewable energy infrastructure will foster the industry share. Moreover, refurbishment and expansion of district heating (DH) networks in alignment to the energy efficiency concord will further complement the business outlook.
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Major players operating in the heating & cooling market are Danfoss, Johnson Control, Siemens etc.
Global Heating & Cooling Market in 2018, exceeded USD 1 Trillion and is predicted to represent an annual consumption of 60 Exa-Joule by 2025. Stringent measures with an aim to curb carbon emissions in line with extreme climatic conditions will foster the demand for effective HVAC systems.
Some major findings of the heating & cooling market report include:
- Demand for district heating infrastructure is gaining impetus on account of their lower thermal losses and effective fuel utilization.
- Stringent energy efficiency concord across developed economies is expected to drive the industry growth.
- Integration of effective cogeneration technologies in buildings to augment renewable based heating & cooling consumption.
- Companies opt for strategic alliances with technology providers to implement effective monitoring & control.
- Large scale suburban migration & ongoing industrial expansion across Asia Pacific & Middle East have led to considerable increase in demand for space and water heating & cooling.
Upsurge in demand for efficient heating & cooling solutions in line with favorable policies to support HVAC integration across the residential deployments will propel the industry share. Moreover, integration of energy management systems (HEMS) accompanied by green building reforms will boost the technological adoption. Rise in urban population, real estate investments along with ongoing integration of decentralized generating systems will further complement the industry outlook.
Industries in 2018, incurred over USD 300 Billion of expenditure towards heating & cooling activities. Operational protection from leakages through curtailment in conveyance losses have been few parameters fueling the demand for efficient district heating infrastructure across industrial units. Integration of biomass aided DH units have inculcated an energy efficient & environment friendly operational scenario across chemical plants. Moreover, introduction of wood pellet-based fuel subject to their abundance & processional feasibility will complement the industry scenario.
Industry giants have developed various integral technology and research platforms to suffice the technological enhancements with an aim to foster their market penetration. Revenue generation through service provisions along with long term strategic tie-ups with utilities have been a major strategic breakthrough. Moreover, global focus towards sustainable generation technologies have rendered industry players to adopt and deliver cost effective and technologically coherent HVAC systems. Leading market participants have aligned their focus towards emerging markets across Asia Pacific, the Middle East and Africa.
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