Variable Air Volume Systems Market By Type (Single Duct VAV, Dual Duct VAV, Induction VAV, And Fan Powered VAV), Application (Residential Buildings, Industrial Buildings, Commercial Buildings) - Global Forecast To 2021
LONDON, Nov. 3, 2016 /PRNewswire/ -- "High demand from HVAC systems in commercial buildings driving the Variable Air Volume (VAV) systems market" The global market for variable air volume (VAV) systems is projected to reach USD 13.44 billion by 2021, at a CAGR of 6.56% from 2016 to 2021. Increasing demand from the HVAC systems in commercial buildings is the major driver for the VAV systems market. Lower awareness about VAV systems restricts the market and is a major restraint for the global VAV systems market. The global VAV systems market is expected to grow with the increasing demand for HVAC systems in major economies such as India, China, Japan, the U.S., the Middle East, and others. "Commercial buildings, the fastest-growing application for variable air volume systems" The growth of the global VAV systems market is mainly due to the increasing demand for the use of VAV systems in the HVAC systems used in commercial, industrial, and residential buildings. Commercial buildings are the fastest-growing application for VAV systems products. The Asia-Pacific region is the fastest-growing region for the application of VAV systems, as the various countries in Asia, mainly India and China are growing at a rapid pace and expanding exponentially with a high growth in the numbers of commercial buildings such as hotels, offices, and malls.