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HVAC Centrifugal Compressor Market Share | Industry Developments, Outlook, Current Trends by 2024

Author : Rahul Varpe | Published Date : 2020-08-24 

The HVAC centrifugal compressor market is predicted to register noteworthy growth over the forthcoming years on account of proliferating demand for efficient cooling and heating systems. Centrifugal compressors play a vital role in a wide variety of applications such as pipeline transport of natural gas and vapor compression refrigeration.

Growing inclination towards sustainable and energy-efficient products that have low running costs could hugely benefit the industry landscape. Additionally, supportive federal initiatives to promote renewable energy could massively enhance product demand. These systems help in reducing energy wastage, further benefiting customers in cost savings.

Rising imposition of stern guidelines by local agencies over product manufacturing to curb carbon emissions according to Kyoto Protocol could stimulate the demand for HVAC centrifugal compressors. Lately, several countries have begun to offer financial support in the form of subsidies. These subsidies on heating and cooling systems could broaden the horizon for energy efficient products in the future.

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How will rapid infrastructural developments augment UAE HVAC centrifugal compressor market?

Increasing number of commercial projects across Dubai might boost the demand for HVAC centrifugal compressors. The introduction of Big 5 Dubai project accelerated the demand for HVAC machinery, allowing the HVAC sector to generate USD 1.5 billion in 2016.

Evidently, the entire contract value of this urban development and upgradation project in Dubai, which will run on compressor technology, is estimated to cross USD 59 billion by 2021. Additionally, the introduction of prominent government initiatives such as UAE Vision 2021 and Dubai 2021 Smart City Plan could further strengthen regional business outlook.

What are the benefits of heat pumps?

Growing concerns over carbon emissions and greenhouse gases could boost the demand for standardized heat pump systems. Earlier in 2016, the heat pump market was valued over USD 345 thousand.

Factors like the product’s remarkable properties such as precise pressure control and improved vapor compression technology could play a significant role in making the system more energy efficient. Meanwhile, growing adoption of heat pumps over conventional heating systems like furnaces, boilers, fireplaces, and gas-fired heaters could broaden the business horizon for HVAC centrifugal compressors.

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Which business strategies are favorable for HVAC centrifugal compressor companies?

The HVAC centrifugal compressor industry is mainly dominated by international manufacturers like Mitsubishi Heavy Industries, SKF, Hitachi, Atlas Copco, and Danfoss. These companies are implementing innovative business strategies like signing strategic collaboration deals and acquisitions to maintain their market dominance.

For instance, Danfoss modernized office building spaces at the Katowice Business Centre with its hydronic balancing solutions. Reportedly, the company offered its AB-QM balancing and control valves along with its revolutionary NovoCon® actuators. Meanwhile, other prominent participants include GFA, Elliott Group, Howden Group, Celeroton, and Ingersoll Rand.

 

 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. [email protected] | https://twitter.com/varperahul

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