HVAC systems to receive major investment over the next five years
According to the study, because of rising energy prices and the drive to reduce greenhouse gas (GHG) emissions associated with building operations, many building owners have begun to manage energy cost as an asset, rather than a fixed cost.
The tools for improving efficiency of HVAC systems are multiplying, including building energy management systems (BEMS), onsite ice-based thermal energy storage systems, underfloor air distribution, and chilled beams, to name a few.
The research firm forecasts that the market for geothermal heat pumps in commercial buildings, including equipment and installation costs, will total $13 billion between 2010 and 2015. Revenue from BEMS will increase from $0.9 billion in 2010 to more than $1.3 billion by 2015.
Investment in underfloor air distribution will total $1.2 billion during the period from 2010 to 2015. Ice-based thermal energy storage systems revenue will expand from $17m in 2010 to more than $190m in 2015.
Revenue for Western Climate Challenge-Certified Rooftop Units will reach $26m by 2015 under a baseline scenario, with the upside opportunity of $40m by 2015 under a more aggressive forecast scenario, said the research firm.
Levin Nock, industry analyst at Pike Research, said: â€œThe HVAC industry changes slowly. Most commercial space is in small and medium-sized buildings and is heated and cooled by packaged units sold as commodities.
"But with HVAC accounting for almost one-third of the energy cost in commercial buildings, the savings potential is quite significant. An increasing number of industry players, including both established vendors as well as startups, are focused on addressing this market opportunity using a variety of innovative technologies.â€
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