The APAC HVAC Valves market accounted for US$ 2190.62 Mn in 2017 and is expected to grow at a CAGR of 5.6% over the forecast period 2018-2027, to account for US$ 3573.2 Mn in 2027
The APAC HVAC Valves market accounted for US$ 2190.62 Mn in 2017 and is expected to grow at a CAGR of 5.6% over the forecast period 2018-2027, to account for US$ 3573.2 Mn in 2027.
NEW YORK, Jan. 28, 2020 /PRNewswire/ --
The APAC HVAC Valves market accounted for US$ 2190.62 Mn in 2017 and is expected to grow at a CAGR of 5.6% over the forecast period 2018-2027, to account for US$ 3573.2 Mn in 2027. Factors including a growing acceptance of building an energy management system (BEMS) and rigorous rules and regulations enforced by governments on energy-efficient buildings is driving the APAC HVAC Valves market. Post the recovery from the recession in the year 2014; the construction market gathered pace. Lowering interest rates on housing loans, lower interest rates for businesses, subsidies by Governments for industrial setups have further helped the proliferation of construction market. Also, in most of the commercial buildings, footfalls create a difference for generating revenues, and therefore, the lighting, heating and air conditioning systems in the commercial buildings are highly emphasized upon. The market players are focusing on various initiatives to enhance its reach to rural areas and boost its position in the APAC HVAC Valves market.
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The APAC HVAC Valves market is fragmented with the presence of several industries and the competitive dynamics in the market is expected to change during the upcoming years.In addition to this, various initiatives are undertaken by the governmental bodies to accelerate the APAC HVAC Valves market further.
For instance, the governments of various economies of the Asia Pacific region are taking initiatives to boost their country's manufacturing sector.Some of these initiatives include 'Make in India,' and 'Made in China 2025' among others.
Also, the governments of various developing economies in the region are providing tax-rebates, funds, subsidiaries, and other such provisions to support the manufacturing industry.These initiative provide various benefits to the HVAC valves manufacturing companies located in the region.
These initiatives are implemented to enhance the technologies that positively impact on the APAC HVAC Valves market. These initiative provide various benefits to the HVAC Valves based companies located in the region thus, increasing the growth of APAC HVAC Valves markets. This is further expected to provide the APAC HVAC Valves market players to cope up with the rapidly transforming industrial requirement. This initiative provides multiple benefits to the companies present in this region and thus increasing the growth of APAC HVAC Valves market.
On the basis of application, the commercial segment is leading the APAC HVAC Valves market.However, the industrial segment is anticipated to grow at the highest CAGR.
HVAC is important in the design of medium to large industrial buildings.Conditions can be regulated with respect to temperature and humidity through natural ventilation using outside air without the use of fans or other mechanical systems.
Accurate ventilation control requires air flow and other atmospheric condition sensors.The manufacturing industries require a robust and efficient HVAC system for various purposes such as controlling the indoor air quality.
Excess humidity, odors, and contaminants can often be controlled via dilution or replacement with outside air. Currently, the market players are looking ahead to support the APAC HVAC Valves industry by innovating advanced technological components.
The overall APAC HVAC Valves market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the APAC HVAC Valves market.
It also provides an overview and forecast for the HVAC Valves market based on all the segmentation provided with respect to the APAC region.Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the HVAC Valves industry. Some of the players present in HVAC Valves market are AVK Group A/S, Belimo Holding AG, Danfoss A/S, Flowserve Corporation, Honeywell International Inc., Johnson Controls International Plc., Mueller Industries, Inc., Samson Controls, Inc., Schneider Electric SE, and Siemens AG among others.
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