The global substation automation market is projected to reach $67.89 billion by 2033 from $35.29 billion in 2023, growing at a CAGR of 6.76% during the forecast period 2023-2033.
The heating, ventilation, air conditioning, and refrigeration (HVAC-R) market was valued at $422.91 billion in 2023, and it is expected to grow at a CAGR of 6.33% and reach $781.05 billion by 2033.
The global HVAC-R market was valued at $193.6 billion in 2021 and is projected to reach $257.9 billion in 2027, following a CAGR of 5% during the forecast period 2022-2027.
The global immersion cooling market accounted for $251.0 million in 2021 and is expected to grow with a CAGR of 36.3% and reach $1,605.5 million by 2027.
The global smart lighting market generated revenue of $11,932.0 million in 2020 and is expected to reach to $34,500.0 million by 2025 at a CAGR of 23.1%.
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The global energy management system market is projected to grow from $10.55 billion in 2020 to $30.15 billion by 2025, at a CAGR of 23.37% from 2020 to 2025.
The Australia and New Zealand HVAC Market - Analysis and Forecast by BIS Research projects the market size is expected to reach $4.57 billion by 2024.
The building energy management system market is projected to grow from $5.86 billion in 2018 to $12.72 billion by 2025, growing at a CAGR of 11.71% from 2018 to 2025.
The global solar LED street lighting market is expected to grow at a CAGR of 16.5% in terms of volume and 13.2% in terms of value during the forecast period 2018-2024.
The global lighting as a service market is expected to grow at a CAGR of 40.8% in the forecast period 2018-2025.
The global HCL market is expected to grow with a CAGR of 37.2% and 35.2% in terms of volume and value, respectively during the forecast period 2018-2024.
The global HVAC market is estimated to witness growth at a CAGR of 4.5% and 2.6% over the period 2018-2024 in terms of volume and value, respectively.
The intelligent lighting controls market generated revenue of $1,792.8 million in 2017 and is expected to reach to $5,508.0 million by 2024.
The LED lights market has undergone significant transformation in the last couple of years. The Energy Independence and Security Act (EISA) passed in 2007 led to a major change in the lighting industry as it replaced the outdated inefficient lighting technology.
The market is expected to grow at a CAGR of 9.30% during the forecast period (2017-2023).
The global building energy management systems market is expected to reach $9.32 billion by 2023. The increasing demand for reduction in energy consumption and greenhouse gas emissions along with concerns over climatic changes are some of the factors driving the overall market growth for this industry.
The Americas HVACR market volume is estimated to grow at a CAGR of 5.65% during the forecast period, 2017-2023. The demand for HVACR equipment in this region is witnessing an overall steady growth. The growth rate can be attributed to countries such as Brazil, Argentina and Mexico that have shown a huge increase in the demand.
Middle East HVACR market volume is expected to reach a volume of 6,490.83 thousand units by 2022. The demand for HVACR products in the Middle East market is mainly driven by factors such as rising population, developments in the residential markets, along with growing commercial and industrial units, among others.
The energy efficient devices market is expected to reach a market size of $908.49 billion by 2022. The increasing demand for reduction in energy consumption and greenhouse gas emissions along with concerns over climatic changes are some of the factors driving the overall market growth for this industry.
The growth of the APAC HVAC market is owing to various key factors such as growing urban population, increase in disposable income, and varying climatic conditions. The region experience extreme climatic conditions. South-East Asian countries such as Thailand and Malaysia are known for their wet and humid climates.
The global LED emergency lighting market is expected to grow at a significant rate during the forecast period. This is due to factors such as the integration of security industry with LED lighting, changing the paradigm of lighting industry to electronics & healthcare industry, and continuous advancement in upcoming product range.
The scope of this report is focused towards global heating, ventilation and air conditioning (HVAC) market. The study includes the analysis of HVAC products, in addition to the market study of the HVAC industry across different geographies.
The growth of the U.K.’s temperature control market is owed to various factors such as construction projects specially in London by both public and private sectors, various policy and regulatory laws pertaining to the areas of environmental concerns, increasing energy efficiency, usage of renewable sources of energy, rising prices of fuels and other raw materials, and the usage of low GWP refrig
The Australia and New Zealand HVAC markets have been covered by both value and volume. The market by value is growing at a CAGR of 9.82% from 2016 to 2022, while the market by volume is growing at a CAGR of 7.33% from 2016 to 2022 in which Australia is a dominant player.
High urbanization rate, decent economic growth, growth in constructional activities along with diverse climatic conditions will create demand for HVAC products. In terms of volume, the Turkey HVAC market will increase at a CAGR of 5.31% from 2016-2022.
According to the report titled ‘Middle East and Africa (including North Africa and South Africa) Heating, Ventilation and Air Conditioning (HVAC) Market- Forecast & Analysis, 2016 – 2022’, the market is expected to generate over $16.23 billion value by 2022.
The following points are key executive findings available in the report titled “North Africa HVAC Market, 2015-2022”. Heating, Ventilation and Air Conditioning (HVAC) is referred to as a type of technology which provides comfort in terms of temperature variation in applications such as residential, commercial, industrial and institutional, among others.
APAC air purifier market is expected to reach about $19.02 billion by the end of 2015 in terms of revenue. This is attributed to the increasing health hazards and air pollution caused in major countries in APAC. China, India, South Korea, Malaysia, Japan and Indonesia contributes to the rising demand owing to increasing air pollution, smog formation, yellow smog, grey air formed due to huge coal f
The scope of this report is focused towards global heating, ventilation and air conditioning (HVAC) market. The study includes the analysis of HVAC products, in addition to the market study of the HVAC industry across different geographies.
As global warming and other environmental concerns are increasing, the government bodies are attempting to regulate the manufacturing standards of the Heating, Ventilation and Air Conditioning (HVAC) units in the Middle East and Africa (MEA) region.
The AC market growth is propelled by increasing demand for the Air Conditioners in the commercial and residential applications, reduction of energy consumption and innovative solutions that have created a demand for the ACs.
The global HVAC-R market was valued at $193.6 billion in 2021 and is projected to reach $257.9 billion in 2027, following a CAGR of 5% during the forecast period 2022-2027.
The LED lights market has undergone significant transformation in the last couple of years. The Energy Independence and Security Act (EISA) passed in 2007 led to a major change in the lighting industry as it replaced the outdated inefficient lighting technology.
The global building energy management systems market is expected to reach $9.32 billion by 2023. The increasing demand for reduction in energy consumption and greenhouse gas emissions along with concerns over climatic changes are some of the factors driving the overall market growth for this industry.
The scope of this report is focused towards global heating, ventilation and air conditioning (HVAC) market. The study includes the analysis of HVAC products, in addition to the market study of the HVAC industry across different geographies.
BIS Research has estimated the industry to grow over $78 billion by 2022 at a CAGR of 11.7% through 2015-2022, with Asia Pacific leading the market.
The Australia and New Zealand HVAC markets have been covered by both value and volume. The market by value is growing at a CAGR of 9.82% from 2016 to 2022, while the market by volume is growing at a CAGR of 7.33% from 2016 to 2022 in which Australia is a dominant player.
APAC air purifier market is expected to reach about $19.02 billion by the end of 2015 in terms of revenue. This is attributed to the increasing health hazards and air pollution caused in major countries in APAC. China, India, South Korea, Malaysia, Japan and Indonesia contributes to the rising demand owing to increasing air pollution, smog formation, yellow smog, grey air formed due to huge coal f
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Building & Home Automation
Smart Home and Building Automation Market & Industry Overview
The smart home and building automation industry is focused on integrating technology to enable efficient and intelligent management of residential and commercial spaces. This includes automation of lighting, HVAC systems, security, and entertainment, among others. The industry is driven by the demand for convenience, energy efficiency, and enhanced security in homes and buildings. The building automation system and smart building technology is experiencing rapid growth.
Key players in the industry include technology providers, manufacturers of smart devices and sensors, and home automation service providers. The industry is characterized by advancements in connected devices, machine learning, and the Internet of Things (IoT). Challenges in the industry include interoperability issues, data security concerns, and the need for user-friendly interfaces. Overall, the smart home and building automation industry is poised for significant growth as more and more consumers and businesses embrace the benefits of smart technologies in their living and working spaces.
BIS Research aims to study the technological developments influencing the home automation industry. Technologies such as HVAC air purification, and smart lighting all are being studied under this category along with the recent regulations and norms being mandatory for compliance.
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