World trends in ventilation and air conditioning systems
Published on: Nov 17, 2023
Reading Time: 5 min
Current trends in the development of the ventilation and air conditioning global market
The global market for climate control equipment is one of the most dynamically developing segments. Technological innovation and climate change also play a role in addition to stable demand for products.
According to Fortune Business Insights, the global HVAC market could reach $29.7 billion by the end of 2023. This figure is projected to increase to $50.3 billion by 2030, provided current growth rates continue (7-8% annually). Only in 2020, a moderate decline was recorded (about 3–5%) caused by the coronavirus pandemic: most factories producing this equipment are located in Southeast Asian countries, where strict restrictions, including lockdowns, were introduced to combat COVID-19. In addition, the pandemic has disrupted supply chains, affecting both manufacturers and sellers of climate control systems.
The main reason for the increase in demand for air conditioning systems is further climate change. Scientists around the world are recording a trend towards an increase in average annual air temperatures. Over the past 100 years, this figure has increased by almost 1 degree Celsius. An increase in air temperature also entails faster evaporation of moisture, which leads to an increase in precipitation. The need for modern HVAC systems increases in warmer and more humid climates.
Global trends in ventilation and air conditioning systems
The first trend is the digitalization of ventilation and air conditioning systems, which includes, among other things, integration into the structure of a “smart building”. This is true for both residential and commercial buildings. In addition to ease of use, troubleshooting is also simplified.
The second trend is a further shift in demand to the Middle East, India and Southeast Asia. About 60% of the total sales volume of air conditioners and ventilation systems is realised in these countries. The reasons for this trend lie in large-scale urbanization, economic growth and climatic features.
The third trend is an increase in the share of “green” devices and energy saving. In the context of rising prices for utility resources, “green” and energy-saving technologies make it possible to optimize the cost of operating equipment. In addition, governments support the introduction of such technologies by providing benefits to both manufacturers and developers using such technologies.
The fourth trend is the rapid response of manufacturers to environmental challenges. For example, already during the coronavirus pandemic, devices with air disinfection functions were introduced to the market. Another example is the previously mentioned smart and energy-saving devices.
The fifth trend is the dynamic growth of the segment of climate control equipment for commercial real estate. As the coronavirus pandemic ends, more and more companies are moving their employees into offices full-time or on a hybrid schedule. Developers are not far behind them and have actively taken up the construction of new offices and multifunctional buildings in the world's largest cities. Accordingly, building owners and management companies have a need to modernize or install new climate control equipment.
The success of entering a new market for a company depends on understanding its key trends. The best way to learn the current trends and specifics of a particular national or international market is to participate in industry events that bring together a wide range of participants: developers, manufacturers and potential clients. An example of such an event is the International Exhibition of Equipment for Ventilation, Air Conditioning and Refrigeration AIRVent.
The main value of participation in this exhibition for manufacturers and suppliers is the opportunity to find new customers and expand their sales geography. In 2023, AIRVent was attended by 5,068 unique visitors, and 72% of them planned to purchase exhibitors’ products based on their visit. It is worth noting that according to the results of a survey of exhibition visitors, the most popular sections were ventilation equipment, which was the product of interest of 78% visitors (3,931 specialists) and air conditioning equipment, which was the product of interest of 59% visitors (3,012 specialists).
Do not miss the opportunity to demonstrate your ventilation and air conditioning systems to an interested audience at the 2nd International Exhibition of Equipment for Ventilation, Air Conditioning and Refrigeration AIRVent, which will take place on February 6–9, 2024 in Crocus Expo IEC, Moscow.
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