The global variable air volume (VAV) systems market is estimated to increase from USD 11.8 billion in 2019 to USD 16.0 billion by 2024, at a CAGR of 6.3% during the forecast period. The global variable air volume (VAV) Systems market is driven mainly by the increasing construction activities, globally and the rising awareness for reducing energy consumption. New construction activities in the residential, commercial, and industrial sectors have augmented the demand for VAV systems, thereby increasing the revenue of the market.
Ingersoll Rand (Ireland), Honeywell International Ltd (US), United Technologies Corporation (US), Daikin Industries Ltd. (Japan), Johnson Controls (US), Siemens (Germany), Emerson Electric Co (US), TROX (Germany), DAIKIN INDUSTRIES, Ltd., (Japan), KMC Controls (US), and Barcol Air Ltd. (Switzerland), among others are the leading Variable Air Volume (VAV) Systems manufacturers, globally. These companies adopted new product development, joint venture, and merger or acquisition as their strategies between January 2015 and August 2018 to earn a competitive advantage in the Variable Air Volume (VAV) Systems market.
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Johnson Controls (US) is one of the leading players in the Variable Air Volume (VAV) Systems market. The company has been focusing on both organic and inorganic strategies to maintain its leading position in the market. For example, In April 2019, Johnson Controls-Hitachi Air Conditioning, India launched its latest range of energy-efficient and expandable Inverter AC solutions. With the launch of this product, the organization aims to bring about a revolution in Indian AC industry and to become Indias leading HVAC brand.
Ingersoll Rand (Ireland) is another major player in the Variable Air Volume (VAV) Systems market. In February 2017, the company planned to acquire the business of Thermocold Costruzioni S.r.l (Italy), a manufacturer and distributor of heating, ventilating and air-conditioning (HVAC) systems and solutions. This acquisition will further strengthen its position in the global HVAC and VAV market.
Variable Air Volume (VAV) Systems Market by Type (Single-duct VAV, Dual-duct VAV, Induction VAV, Fan-powered VAV), Application (Commercial building, Industrial building, Residential building), and Region - Global Forecast to 2024
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