Why Are Governments Encouraging Installation of Smart HVAC Systems?
The construction sector of India, the U.S., Qatar, Saudi Arabia, and the U.A.E. is witnessing significant growth due to the soaring number of tourists and upcoming events, such as the FIFA World Cup 2022 and Dubai Expo 2020. To accommodate the rising number of tourists, sportspersons, and officials from around the world, these countries are focusing on the construction of hotels, restaurants, shopping complexes, airports, and skyscrapers at war footing. These facilities require heating, ventilation, and air conditioning (HVAC) equipment to offer comfort to customers.
Moreover, the surging number of government initiatives to replace old HVAC systems with energy-efficient variants will aid the HVAC market in exhibiting a CAGR of 4.8% during 2020–2030. The market was valued at $240.8 billion in 2019, and it is expected to generate $358.1 billion in 2030. For instance, the Ministry of Power, under the government of India, introduced the 'Eco-Niwas Samhita 2018', an Energy Conservation Building Code for Residential Buildings (ECBC-R), in December 2018. The code aims to limit heat loss and gain in residential and mixed-land-use buildings built on a plot area of ≥500 m2.
Additionally, even customers are showing a high preference for smart HVAC systems due to the mounting awareness about energy conservation and sustainable development. These solutions consist of intelligent thermostats, better controls, and advanced monitoring systems. In comparison to conventional HVAC models, the smart variants offer better temperature variability, produce lower noise, and generate cleaner air. Furthermore, these systems allow users to monitor their performance in real-time, thus making predictive maintenance possible, before any actual malfunctioning occurs.
Heating equipment, such as furnaces, unitary heaters, boilers, and heat pumps, and air conditioning equipment, such as chillers, room ACs, ducted split/packaged units, and variable refrigerant flow (VRF) systems, are being installed in residential, commercial, and industrial facilities across the world. Additionally, end users are installing humidifiers/dehumidifiers, ventilation fans, air cleaners, and air handling and fan coil units for ventilation purposes. In recent years, commercial structures have emerged as the largest user of such equipment due to the flourishing hospitality sector and soaring number of buildings and offices worldwide.
In recent years, HVAC equipment and service companies have been increasingly engaging in research and development (R&D) to offer more advanced HVAC systems. For instance, in November 2019, Danfoss A/S introduced six new refrigeration and AC components and systems for India. The new product portfolio includes Danfoss Intelligent Purging System (IPS)/air purger, Danfoss plate heat exchanger, Danfoss gas detector, ICSH 2-step solenoid valve, IFCD defrost module, and EKE 400. Likewise, in February 2020, Annexair Inc. introduced an eco-friendly biocomposite-based ventilation system constructed with recycled plastic bottles.
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