Investment in HVAC Systems Continuing to Grow

Investment in HVAC systems continuing to grow

Australian companies are continuing to demand effective industrial ventilation.

Heating ventilation and air-conditioning (HVAC) systems are becoming more popular than ever, thanks to increasing demand from a range of industries and sectors.

With modern industrial processes demanding an ever growing number of unique heating and cooling solutions, organisations are continuing to invest in these systems in order to support further growth in their organisation. For remote projects like offshore oil and gas rigs, being able to regulate air temperatures effectively is an essential part of keeping an operation safe and running smoothly.

The resource sector and industrial processes more generally are also proving to be a substantial contributor to overall demand for HVAC systems across both Australia and the rest of the world.

Australian resource sector a leader for HVAC solutions

In Australia, the mining, oil and gas industries have been among the most widespread adopters of HVAC systems, according to analysis from IBISWorld.

The company’s research found that these sectors, along with the demand from large apartment blocks and infrastructure projects, constitute the largest source of demand within this $8 billion market. Asset management of installed HVAC solutions has also been picked as one of the areas where this industry is continuing to see substantial growth.

Among the further findings of the study was the substantial difference that exists between production in different parts of the country. In warmer northern states, demand is high for effective ventilation systems that can address the high temperatures seen in these areas. Unsurprisingly, in the country’s south demand was much more heavily focused on cooling.

While the Australian sector is continuing to see a heavy focus on industrial HVAC installations, the industry worldwide is moving from strength to strength on the back of high demand.

HVAC systems tipped for strong growth

The increasing importance of effective ventilation, particularly in industrial and engineering processes, is leading the sector to see significant growth globally.

According to research from consulting firm Lucintel, HVAC systems are going to see substantial growth in the future, thanks to increasing global demand. In fact, these systems are tipped to grow rapidly, reaching US$105.7 billion in 2019.

The report went on to identify a number of key trends that are driving this growth. Among the main reasons is the increasing demand coming from emerging economies like India and China, with new industrial development in these countries leading to even greater demand for these systems.

While growing Asian markets will see a rapid increase, demand for these systems will also remain high in established markets like Australia, the EU and US. Driving this growth in mature markets is the ongoing demand, specifically on large projects.

The report also highlighted that manufacturers are becoming increasingly inventive with the services they offer, with many now looking for innovative solutions to meet the demands of industrial clients.

Versatile systems needed for remote projects

While HVAC systems are continuing to grow in number around the world, there is still the challenge that comes from the variety of demands placed on this machinery around the world.

Just one example is the oil and gas industry, which faces unique demands when it comes to finding an effective HVAC system. Like many highly specialised industries around the world, offshore oil and gas platforms face unique logistical challenges that in turn make it harder to provide effective ventilation services.

At MPower, we are experts at providing effective HVAC systems to the oil and gas industry. Our track record includes some of Australia’s largest oil and gas developments, including the Gorgon LNG project.

Regardless of the project, MPower is ideally suited to offer a bespoke HVAC solution to your offshore rig needs.

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