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Guidehouse Insights Estimates Global Market for Commercial HVAC Equipment Will Grow to Nearly $327 Billion by 2033

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2 months ago

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Market drivers include pent-up replacement demand, corporate sustainability commitments, government incentives and cooling equipment adoption 

BOULDER, Colo., Oct. 1, 2024 /PRNewswire/ — A new report from Guidehouse Insights explores the global market for commercial HVAC equipment that can reduce energy consumption and, increasingly, decarbonize heating systems and eliminate onsite fossil fuel use.

Despite being fairly saturated, the global market for commercial HVAC equipment is expected to grow over the next decade. According to a new report from Guidehouse Insights, commercial HVAC revenue is expected to grow from an estimated $229.2 billion in 2024 to $326.6 billion in 2033, at a compound annual growth rate (CAGR) of 4.0%.

“The commercial HVAC market is highly competitive among supply-side stakeholders, including manufacturers, distributors, sales representatives, contractors, and engineering firms,” says Hannah Bastian, research analyst with Guidehouse Insights. “M&A activity has been robust in the last few years and does not show signs of slowing down in the near term, suggesting the market is likely to continue growing and changing over the next decade.”

Several market drivers are creating demand for HVAC equipment that can reduce energy consumption and, increasingly, decarbonize heating systems and eliminate onsite fossil fuel use. Cooling equipment is also becoming more common in both existing and new buildings around the world, driving revenue growth in the commercial HVAC market. 

At the same time, several barriers may limit and slow this growth. Macroeconomic conditions like inflation, workforce shortages, and high interest rates have made it challenging for building owners to pursue equipment upgrades. Supply-side bottlenecks like inflated material costs and manufacturing capacity have limited manufacturers’ ability to keep up with demand, and this situation is likely to continue in the near future, according to the report.  

The report, Commercial HVAC Market, evaluates how market drivers, barriers, and trends are likely to affect the commercial HVAC market over the next 10 years. It provides an overview of the key market stakeholders and their role in the industry value chain, and offers recommendations for how they can stay competitive as the market evolves in the near and long term. The analyses in this report estimate commercial HVAC revenue growth from 2024 to 2033, segmented by technology type, construction type, and global region. An executive summary of the report is available for free download on the Guidehouse Insights website.

About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.

About Guidehouse
Guidehouse is a global consultancy providing advisory, digital, and managed services to the commercial and public sectors. Guidehouse is purpose-built to serve the national security, financial services, healthcare, energy, and infrastructure industries. Disrupting legacy consulting delivery models with its agility, capabilities, and scale, the firm delivers technology-enabled and focused solutions that position clients for innovation, resilience, and growth. With high-quality standards and a relentless pursuit of client success, Guidehouse’s more than 17,000 employees collaborate with leaders to outwit complexity and achieve transformational changes that meaningfully shape the future. guidehouse.com

* The information contained in this press release concerning the report, Commercial HVAC Market, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.

For more information, contact:

Cecile Fradkin for Guidehouse Insights
+1.646.941.9139
cfradkin@scprgroup.com 

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SOURCE Guidehouse Insights

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Technology

Comviva appoints Raja Mansukhani to accelerate growth and transformation

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16 minutes ago

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November 27, 2024

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NEW DELHI, Nov. 27, 2024 /PRNewswire/ — Comviva, a global leader in digital transformation solutions, specializing in customer experience management, data monetization, and mobile financial services, today announced the appointment of Raja Mansukhani as its Chief Strategy, Technology, and Transformation Officer. In this key role, Raja will drive the execution of strategic initiatives that are central to Comviva’s transformation and the realization of its ambitious Comviva 2.0 vision.

Raja brings over two decades of leadership experience across IT, telecommunications, fintech, and digital platforms. He has led organizations through large-scale business and operational transformations, market expansions, and the launch of innovative products and technologies in diverse global markets. Prior to joining Comviva, Raja was the CEO of a Digital Platforms company within the Axiata Group.

Welcoming Raja to the Comviva leadership team, Rajesh Chandiramani, Chief Executive Officer at Comviva, said, “We are thrilled to have Raja on board during this transformative phase for Comviva. His deep industry knowledge and proven ability to drive growth and innovation align perfectly with our vision for Comviva 2.0. Raja’s leadership will be instrumental in shaping our strategic direction and technology roadmap, as we continue to deliver cutting-edge digital solutions for our customers worldwide.”

Raja Mansukhani shared his enthusiasm about joining the Comviva team, stating, “I am honored to be part of Comviva, a company renowned for its pioneering solutions and steadfast commitment to a customer-centric approach. As the industry undergoes rapid transformation, this is an exciting opportunity to lead strategic initiatives alongside a talented team that will unlock new opportunities and accelerate Comviva’s growth while delivering differentiation and significant value creation for our customers. As a team, we will drive innovation, foster value-driven transformation, and work towards achieving the bold objectives of Comviva 2.0.”

With Raja’s appointment, Comviva reaffirms its commitment to delivering innovative, customer-first solutions while accelerating its transformation efforts to stay ahead in the rapidly evolving digital economy.

As part of its strategic growth, Comviva is enhancing its capabilities in digital commerce, data monetization, and customer experience solutions. By focusing on partnerships with technology leaders and hyperscalers, and advancing operational excellence across MarTech, FinTech, DigiTech, and RevTech, Comviva is positioning itself as a catalyst for innovation. These initiatives align with the company’s vision to lead the digital transformation journey, empowering businesses to unlock new revenue streams and deliver exceptional customer value.

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SOURCE Comviva

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Waterdrop Inc. to Report Third Quarter 2024 Financial Results on December 11, 2024

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16 minutes ago

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November 27, 2024

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BEIJING, Nov. 27, 2024 /PRNewswire/ — Waterdrop Inc. (NYSE: WDH) (“Waterdrop” or the “Company”), a leading technology platform dedicated to insurance and healthcare service with a positive social impact, today announced that it will report its unaudited financial results for the third quarter ended September 30, 2024, before U.S. markets open on Wednesday, December 11, 2024.

Waterdrop’s management team will hold a conference call on December 11, 2024 at 7:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time on the same day) to discuss the financial results. Dial-in details for the earnings conference call are as follows:

International:

1-412-317-6061

United States Toll Free:

1-888-317-6003

Hong Kong Toll Free:

800-963976

Hong Kong:

852-58081995

Mainland China:

4001-206115

Chinese Line (Mandarin) Entry Number:

4533234

English Interpretation Line Entry Number:

2061532

Participants can choose between the Chinese and the English interpretation lines. Please note that the English interpretation option will be in listen-only mode. Please dial in 15 minutes before the call is scheduled to begin and provide the Elite Entry Number to join the call.

Telephone replays will be accessible two hours after the conclusion of the conference call until December 18, 2024 by dialing the following numbers:

United States Toll Free:

1-877-344-7529

International Toll:

1-412-317-0088

Chinese Line Access Code:

6305770

English Interpretation Line Access Code:

9765426

Additionally, live and archived webcasts of the conference call will be available at the Company’s investor relations website at http://ir.waterdrop-inc.com/.

About Waterdrop Inc.

Waterdrop Inc. (NYSE: WDH) is a leading technology platform dedicated to insurance and healthcare service with a positive social impact. Founded in 2016, with the comprehensive coverage of Waterdrop Insurance Marketplace and Waterdrop Medical Crowdfunding, Waterdrop aims to bring insurance and healthcare service to billions through technology. For more information, please visit www.waterdrop-inc.com.

For investor inquiries, please contact

Waterdrop Inc.
IR@shuidi-inc.com

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SOURCE Waterdrop Inc.

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Technology

Qareeb Data Centres and Gcore Forge Strategic Partnership to Elevate GCC AI and Cloud Infrastructure

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16 minutes ago

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November 27, 2024

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MANAMA, Bahrain, Nov. 27, 2024 /PRNewswire/ — Qareeb Data Centres, the Middle East’s first edge data centre provider, and Gcore, a global leader in edge AI, cloud, network, and security solutions, signed a Memorandum of Understanding (MoU) at the Touchdown Middle East 2024 conference in Bahrain. This strategic partnership is set to boost digital infrastructure in the Gulf Cooperation Council (GCC) and support the region’s journey to becoming a hub of innovation, with a special focus on delivering cutting-edge AI and cloud computing services.

 

Qareeb will leverage its edge data centre infrastructure to deliver Gcore solutions to customers across the GCC market, fostering local digitalisation and supporting Gcore’s expansion in the region. By integrating Gcore’s advanced AI, cloud, and edge solutions with Qareeb’s data centre capabilities, this collaboration aims to enable innovation and scalability as well as provide reliable and secure cloud solutions to address the growing demand from businesses and public sector organisations throughout the GCC.

“Partnering with Gcore aligns with our vision to drive digital innovation across the GCC region,” said Annemarie Van Zadelhoff, Chief Strategy Officer at Qareeb Data Centres. “With the data centre market experiencing rapid growth, particularly in the demand for local edge colocation facilities, this partnership provides a strong foundation for our ambitious expansion across the Middle East while delivering advanced AI and cloud computing solutions to meet the shifting needs of organisations today and into the future.”

“We are thrilled to partner with Qareeb Data Centres to deliver cutting-edge AI and cloud services to the GCC,” said Fabrice Moizan, Chief Revenue Officer at Gcore. “Together, we will empower businesses with robust infrastructure solutions, driving innovation, economic growth, and technological advancement across the region.”

 

About Qareeb Data Centres
Qareeb Data Centres is on a mission to deliver world-class Edge Data Centre solutions in the Middle East, enabling businesses in their digital transformation through delivering best in class infrastructure tailored for cloud and AI-driven growth, with transparency and a customer-first approach at the core. Headquartered in Bahrain, Qareeb fuses international and local expertise to ensure a consistent exceptional customer experience tailored to regional needs.
To find out more, visit www.qareebdc.com/

About Gcore
Gcore is a global edge AI, cloud, network, and security solutions provider. Headquartered in Luxembourg, with a team of 600 operating from ten offices worldwide, Gcore provides solutions to global leaders in numerous industries. Gcore manages its global IT infrastructure across six continents, with one of the best network performances in Europe, Africa, and LATAM due to the average response time of 30 ms worldwide. Gcore’s network consists of 180 points of presence worldwide in reliable Tier IV and Tier III data centers, with a total network capacity exceeding 200 Tbps.
https://gcore.com/

 

This press release has been issued by Qareeb Data Centres Corporate Communications. For further information:

Media Contact
Avenue 10
eleri@avenue-10.com

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