The market for district cooling is projected to grow from $5.14 billion in 2016 to $9.54 billion by 2021, at a CAGR of 13.19% from 2016 to 2021. Factors such as high temperature in the region, increased investments in infrastructure projects, and rapid urbanization are driving the market. Rising energy prices, growing environmental concerns, and rising demand for low cost andhigh-efficiency cooling systems are some of the other factors fueling the demand for district cooling.
The underfloor heating market is expected to achieve an advantageous CAGR during the forecast period (2019-2027), reports Market Research Future (MRFR). Rising consumer awareness about energy conservation combined with ongoing promotion of clean energy technologies is expected to benefit the underfloor heating market.
According to the new research report on “Hearth Market by Fuel Type (Wood, Gas, Electricity, and Pellet), Product (Fireplace, Stove, and Insert), Design (Traditional Hearth, and Modern Hearth), Placement, Application, Technology, and Geography – Global Forecast to 2023”, the hearth market, the market is expected to reach $19.01 billion by 2023 from $15.72 billion in 2018, at a CAGR of 3.87% between 2018 and 2023.
The market is likely to attain an advantageous CAGR in the duration of the forecast period. The requirement for maintainable and inexpensive heating systems are motivating the growth of under floor heating solutions. Market reports associated to the construction industry have been put forward by Market Research Future which generates reports on other industry verticals that target the study of recent market scenarios better.
The market for air conditioning (AC) has been one of the rapidly developing and growing markets in the past few decades, but in this era the air conditioning market has reached the maturity stage of the PLC (Product Life Cycle) and is expected to be in the maturity stage for a long period.
Drastic changes in climatic conditions due to global warming has made thermostat a necessity for homes across the world. Thermostat maintains appropriate temperature inside an enclosure to ensure comfort level with respect to the ambient atmospheric temperature. However, conventional thermostats lack features such as remote monitoring and control of HVAC systems, optimum utilization of energy sources, and cost effectiveness.