Applied products sector anticipates growth in HVAC sector

Applied Products in the HVAC sector are set to experience a global growth rate of almost 7% in the coming few years, according to a leading market intelligence and research agency. The market is being propelled by all governments instigating immediate initiatives to encourage individuals and industries to use energy efficient HVAC devices.  

The industry growth is being driven by the global demand for more energy efficient and acceptable HVAC products and systems, which are non-carbon fuelled and, in the case of refrigerants, as least harmful as possible – hence the proliferation of R290 low GWP refrigerant. 

This sea change is occurring at the same time as gas-fired appliances such as commercial and residential boilers are likely to be on the descent with ever-decreasing market share.  

Electricity seems likely to be the dominant global fuel of the future, with hydrogen, synthetic, Liquified Natural Gas and BioLPG also being developed for the mass markets. Electricity will be generated from a variety of sources but nearly all of them will be renewable and sustainable sources such as solar thermal or heat pump appliances.  

Building services consultants, designers, larger M&E contractors and end users will n eed to adapt to this changing market.  

Tony Gittings of Rinnai said: “I have spent my career – almost 45 years now – in product manufacturing and I have never seen a greater need for flexibility and versatility from the manufacturers and suppliers.”  

www.rinnaiuk.com