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Customers' Desire for Energy Savings Drives Demand for Efficient HVACs in North America Finds Frost & Sullivan - Manufacturers focus on awareness of long-term cost savings of HVAC to assuage concerns about high initial costs - BuildingTechnologies.Frost.com
Customers' Desire for Energy Savings Drives Demand for Efficient HVACs in North America Finds Frost & Sullivan

 

NewswireToday - /newswire/ - Mountain View, CA, United States, 2013/05/23 - Manufacturers focus on awareness of long-term cost savings of HVAC to assuage concerns about high initial costs - BuildingTechnologies.Frost.com .

   
 
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With space heating and cooling accounting for close to 40 percent of all the energy consumed in the building sector in the United States, there is a pressing need for energy-efficient heating, ventilation and air conditioning (HVAC) equipment. Due to the economic downturn, building owners and facility managers deferred equipment replacements, but with the markets bouncing back, they are gradually unfreezing their budgets. Additionally, replacement HVAC purchases will get a leg up from the aging of commercial, institutional and industrial buildings.

New analysis from Frost & Sullivan's (buildingtechnologies.frost.com) Analysis of the North American HVAC Equipment Market research finds the market earned revenue of $13.05 billion in 2012 and estimates this to reach $14.78 billion in 2017.

For more information on this research, please email Britni Myers, Corporate Communications, at britni.myers[.]frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.

"Acknowledging the need to reduce energy consumption and achieve significant energy savings, end users are opting for HVAC equipment with the latest technologies," said a Frost & Sullivan Energy and Environment industry analyst. "Consequently, original equipment manufacturers are increasingly incorporating energy saving technologies, such as variable speed compressors, variable speed fans, and high-efficiency heat exchangers."

Research and development efforts are likely aimed at making the equipment more energy efficient and silent. Another major area of focus is the use of controls to improve the efficiency of the overall system rather than just the efficiency of the components.

Furthermore, the United States passed legislation including the Energy Policy Act of 2005 and the Energy Independence and Security Act of 2007, which mandate buildings must save at least 30 percent more energy than current levels. They also set regional minimum average efficiency rates for HVAC products. These targets bode well for the HVAC market as end users must install higher-efficiency HVAC equipment to meet these targets.

However, the intense competition in the market and the high initial cost of HVAC equipment is limiting growth. End users tend to focus on the initial costs rather than the short- to medium-term payback accrued through energy savings.

In such a scenario, it is vital to educate customers about the lifecycle cost benefits of installing energy-efficient HVAC equipment. Manufacturers must ensure customers understand the long-term benefits of installing new HVAC equipment, such as the ability to comply with energy efficiency requirements and generate smaller carbon footprints.

"The higher awareness about indoor air quality will drive end users to demand better-performing HVAC systems," noted the industry analyst. "Building owners and managers are forced to maintain high indoor air quality to avoid lawsuits by tenants, in turn, boosting the sales of HVAC equipment."

Analysis of the North American HVAC Equipment Market is part of the Energy and Environment Growth Partnership Service program, which also includes: European Building Automation Systems Market, Residential LED Market in Asia-Pacific, and Analysis of the North American LED Lighting Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
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Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

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Analysis of the North American HVAC Equipment Market / NC35-19

 
 
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Customers' Desire for Energy Savings Drives Demand for Efficient HVACs in North America Finds Frost & Sullivan

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Publisher Contact: Britni Myers 
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