Asia Pacific Heating Ventilation and Air Conditioning Market Anticipated to Grow at a Cagr of 3.27% from 2016-2022

Wednesday 23 November 2016, Amsterdam

With the advent of latest environmental regulations in the Asia-Pacific (APAC) region such as Australian Minimum Energy Performance Standards (MEPS), China’s Green Building Evaluation Label (GBEL), and India’s Bureau of Energy Efficiency Standards and Labeling Program (BEE Labeling program) among others, the Air Conditioning (AC) market in the Asia-Pacific region is shifting towards environmental friendly AC refrigerants with a low rate of  Global  Warming  Potential (GWP) and energy efficient technologies.

Many leading Japanese split system AC makers such as Daikin and Fujitsu have been expanding increasingly the R-32 refrigerant based AC for the Asia-Pacific market (specifically in Australia, China and India). For example, in 2014, Daikin introduced R-32 refrigerant based AC, UruruSarara 7 (2.5kW) which is said to be the first AC in Australia to attain a 7 star Super Efficiency rating with an Energy efficiency ratio (EER) of 5.95, making it the most energy efficient AC system in the country.

The market study undertakenby BIS Research, titled “Asia Pacific Heating, Ventilation and Air Conditioning (HVAC) Market- Analysis & Forecast, 2016 – 2022” has acknowledged the growth and trends of the APAC HVAC market.

Factors such as growing urban population, increase in disposable income, and varying climatic conditions, will create demand for HVAC products. The APAC market is witnessing a spurt in multiple real estate projects and public-private investments in various residential, industrial and commercial development zones because of the boom in urbanization. The present trend is expected to stay and gain momentum over the forecast period and hence, it is a big growth driver for the APAC HVAC players around the world.