Europe is seeing rapid growth in the market for Smart Connected HVAC, according to BSRIA which estimates the total market for Smart Connected HVAC in Europe to be worth almost €200m
Smart connected HVAC, refers to a heating, cooling or air conditioning system which is connected to a network – usually the internet – enabling its performance to be monitored and analysed. This allows any faults to be swiftly identified, the causes diagnosed and potentially the correct replacement parts to be delivered.
BSRIA estimates that the total market for smart connected HVAC is set to more than double to reach more than €415m by 2023. This is according to new market studies published by BSRIA in January 2019.
Senior BSRIA analyst Henry Lawson commented: “Interestingly, our research shows that the European market for Smart Connected Air Conditioning is mainly driven by commercial, non-residential buildings. For smart connected heating – most of the activity and demand is in the residential sector.
“For commercial buildings, the biggest single driver is business continuity and maintaining optimal physical environment. If you are running a hotel or selling chilled food, or if you are responsible for a home or hospital for people who are ill or elderly – then any outage of air conditioning and cooling systems can have serious consequences, ranging from financial losses to risks to people’s health.
“Malfunctioning air conditioning is also a chronic waster of energy, with even something as simple as a blocked filter increasing energy consumption by up to 30%. Energy used by air conditioning also has environmental implications – especially with rising temperatures. The last two years have seen a stalling in Europe’s efforts to reduce greenhouse gas emissions and anything that can help is likely to be encouraged.
“Manufacturers benefit from improved customer loyalty and also from the wealth of data collected about the performance of their products.
“The European Smart Air Conditioning market is still relatively small, at about €45m in 2018, but is forecast to almost treble to €130m by 2023.”
Lawson added: “The UK is currently the largest market for smart connected heating, though demand is growing rapidly in the other major European markets.”