Variable Air Volume (VAV) Systems Market – Overview
Variable air volume or VAV system is an important type of heating, ventilating, and/or air-conditioning (HVAC) systems. This system, unlike the constant air volume counterpart, supplies a variable airflow at constant temperatures. The main advantage of variable air volume (VAV) systems is that they offer more precise temperature control, consumer lower energy, cut down the wear and tear of the compressor, and have lower fan noise. It also provides passive dehumidification. Such host of benefits is naturally helping to increase the popularity of the global variable air volume (VAV) systems market.
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Variable Air Volume (VAV) Systems Market – Notable Developments
Some of the notable developments in the global variable air volume (VAV) systems market are listed below:
- In February 2017, Ingersoll Rand, a prominent name in the global variable air volume (VAV) systems market, announced that the company has acquired Thermocold Costruzioni SRL, a key manufacturer and distributor of HVAC systems, solutions, and services.
- In March 2019, Trox GmbH announced that the company has agreed to sign a joint venture agreement with an Egyptian air conditioning supplier and manufacturer – Tiba El Manzalawi Group. With this agreement, Trox is aiming to serve the growing Egyptian market as well as gain entry in the other promising markets in the Middle East and Africa.
- In June 2019, Johnson Controls announced that the company has expanded its facilities in the eastern regions of China to support and expand its subsidiary, York (Wuxi) Air Conditioning and Refrigeration Co. Ltd. With this expansion, the company is now trying to bolster its presence in the Asia Pacific region.
Some of the key players in the global variable air volume (VAV) systems market include names such as Ingersoll Rand (Ireland), Honeywell International Ltd (US), United Technologies Corporation (US), Daikin Industries Ltd.(Japan), and Johnson Controls(US) among others.
Variable Air Volume (VAV) Systems Market – Drivers and Restraints
There are several factors that are positively influencing the growth of the global variable air volume (VAV) systems market. The primary driving factor for the growth of the global variable air volume (VAV) systems market is due to its increasing demand in the commercial constructions and buildings sector. The growth of the variable air volume (VAV) systems market is also driven by increasing applications of variable air volume (VAV) systems across different end use sectors such as retail, office, hospitality, and warehouse among others. Due to its host of benefits such as low power consumption, lesser fan noise, and enhanced precision among others, it has become increasingly popular as compared to the traditional HVAC systems. This has thus helped in driving the overall development of the global variable air volume (VAV) systems market.
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Variable Air Volume (VAV) Systems Market – Geographical Outlook
The global variable air volume (VAV) systems market is mainly divide into five key geographical regions like North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Of these, the market has been traditionally dominated by North America due to increasing applications of variable air volume (VAV) systems across a wide range of industries including industrial to commercial buildings. However, the Middle East and Africa and Asia Pacific regions are now showing high rate of growth in adopting these variable air volume (VAV) systems. Nations such as UAE, Egypt, China, and India have emerged as highly profitable construction and industrial installations. This trend is expected to continue over the course of the given forecast period.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.