Heating, ventilation, and air conditioning (HVAC) equipment consumes a substantial portion of energy in commercial buildings—roughly 40% of total building energy consumption depending on climate and other factors. Moreover, commercial buildings consume a significant proportion of the world’s energy supply, approximately 12% according to estimates from Oak Ridge National Laboratory. As concerns about the environmental impact of energy generation and uncertainty over future energy prices increase, efficiency improvements in HVAC equipment become more enticing.
Nearly 6 years into the recovery from the 2009 financial crisis, persistent weakness remains in the commercial HVAC market. However, improvements in the economy and an increased focus on efficiency are driving increases in the market for energy-efficient HVAC equipment. In the near term, growth will be buoyed by the continuing economic rebound, together with concurrent increases in new commercial building starts, including green and efficient buildings.
