In addition, regulatory shifts, including more stringent codes and LEED requirements, will enable emergent heating, ventilation and air conditioning (HVAC) technologies to achieve market traction at last.

Research analyst Eric Bloom said: “The next generation of energy efficiency will come through incremental improvements to existing HVAC technologies. But there is a great deal of untapped potential for innovation and the adoption of new technologies, such as geothermal heat pumps, that will transform the way buildings function.”

HVAC systems are expected to achieve high market penetration in coming years.

The research firm anticipates spread of new technologies like building energy management systems, thermal energy storage, under-floor air distribution, geothermal heat pumps, and evaporative cooling for rooftop units over the next few years.

Pike Research thinks that revenue from ice-based thermal energy storage systems on rooftops will expand at a compound annual growth rate of 84 percent between 2010 and 2015, reaching almost $171m.

The main objective of most HVAC installations and retrofits over the next five years will be reduced energy costs:  globally, 80% of decision-makers consider energy cost savings very important or extremely important in planning future HVAC changes, according to a survey conducted by Johnson Controls.

Have your say and discuss with your peers on the InfoGrok community.

Participate by posting your comments now.