Market drivers include pent-up replacement demand,
corporate sustainability commitments, government incentives and
cooling equipment adoption
BOULDER, Colo.,
Oct. 1,
2024 /PRNewswire/ -- A new report from Guidehouse
Insights explores the global market for commercial HVAC
equipment that can reduce energy consumption and, increasingly,
decarbonize heating systems and eliminate onsite fossil fuel
use.
Despite being fairly saturated, the global market for commercial
HVAC equipment is expected to grow over the next decade. According
to a new report from Guidehouse Insights, commercial HVAC revenue
is expected to grow from an estimated $229.2
billion in 2024 to $326.6
billion in 2033, at a compound annual growth rate (CAGR) of
4.0%.
"The commercial HVAC market is highly competitive among
supply-side stakeholders, including manufacturers, distributors,
sales representatives, contractors, and engineering firms," says
Hannah Bastian, research analyst
with Guidehouse Insights. "M&A activity has been robust in the
last few years and does not show signs of slowing down in the near
term, suggesting the market is likely to continue growing and
changing over the next decade."
Several market drivers are creating demand for HVAC equipment
that can reduce energy consumption and, increasingly, decarbonize
heating systems and eliminate onsite fossil fuel use. Cooling
equipment is also becoming more common in both existing and new
buildings around the world, driving revenue growth in the
commercial HVAC market.
At the same time, several barriers may limit and slow this
growth. Macroeconomic conditions like inflation, workforce
shortages, and high interest rates have made it challenging for
building owners to pursue equipment upgrades. Supply-side
bottlenecks like inflated material costs and manufacturing capacity
have limited manufacturers' ability to keep up with demand, and
this situation is likely to continue in the near future, according
to the report.
The report, Commercial HVAC Market, evaluates how market
drivers, barriers, and trends are likely to affect the commercial
HVAC market over the next 10 years. It provides an overview of the
key market stakeholders and their role in the industry value chain,
and offers recommendations for how they can stay competitive as the
market evolves in the near and long term. The analyses in this
report estimate commercial HVAC revenue growth from 2024 to 2033,
segmented by technology type, construction type, and global region.
An executive summary of the report is available for free download
on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the
dedicated market intelligence arm of Guidehouse, provides research,
data, and benchmarking services for today's rapidly changing and
highly regulated industries. Our insights are built on in-depth
analysis of global clean technology markets. The team's research
methodology combines supply-side industry analysis, end-user
primary research, and demand assessment, paired with a deep
examination of technology trends, to provide a comprehensive view
of emerging resilient infrastructure systems. Additional
information about Guidehouse Insights can be found at
www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a global consultancy
providing advisory, digital, and managed services to the commercial
and public sectors. Guidehouse is purpose-built to serve the
national security, financial services, healthcare, energy, and
infrastructure industries. Disrupting legacy consulting delivery
models with its agility, capabilities, and scale, the firm delivers
technology-enabled and focused solutions that position clients for
innovation, resilience, and growth. With high-quality standards and
a relentless pursuit of client success, Guidehouse's more than
17,000 employees collaborate with leaders to outwit complexity and
achieve transformational changes that meaningfully shape the
future. guidehouse.com
* The information contained in this press release concerning
the report, Commercial HVAC Market, is a
summary and reflects the current expectations of Guidehouse
Insights based on market data and trend analysis. Market
predictions and expectations are inherently uncertain and actual
results may differ materially from those contained in this press
release or the report. Please refer to the full report for a
complete understanding of the assumptions underlying the report's
conclusions and the methodologies used to create the report.
Neither Guidehouse Insights nor Guidehouse undertakes any
obligation to update any of the information contained in this press
release or the report.
For more information, contact:
Cecile Fradkin for Guidehouse
Insights
+1.646.941.9139
cfradkin@scprgroup.com
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SOURCE Guidehouse Insights