Opportunities for the Chinese HVAC equipment market to reach $37.3 billion by 2022
According to a new market report published by Lucintel, the future of the Chinese HVAC (heating, ventilation and air conditioning) equipment market looks promising with opportunities in the residential and commercial construction industries. China’s HVAC equipment market is expected to reach an estimated $37.3 billion by 2022 and it is forecast to grow at a CAGR of 6.5% from 2017 to 2022.
The major drivers of growth are higher rate of building construction and strict regulations regarding energy efficient buildings in China to make existing facilities energy efficient.
In this market, furnace, heat pumps, central AC, and room AC are the segments by product type.
Within the Chinese HVAC equipment market, residential is expected to remain the largest segment during the forecast period. Increasing penetration and renovation activities are the major driving forces that will spur growth for this segment over the forecast period.
For business expansion, Lucintel’s report suggests innovation and new product development, particularly in terms of energy-efficiency, high performance, and becoming more environmentally friendly.
Emerging trends, which have a direct impact on the dynamics of the market, include the increasing use of green HVAC, and increasing use of air purification technology. Gree Electric Appliances, GD Midea, Haier are the major manufacturers of HVAC equipment in China.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the China’s HVAC equipment market by product type, and end use has compiled a comprehensive research report entitled “Growth Opportunities in the China’s HVAC Equipment Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a springboard for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the China’s HVAC equipment market by product type, and end use as follows:
By Product Type [Volume (M units) and Value ($ million) from 2011 to 2022]:
- Heat Pump
- Central AC
- Room AC
By End Use [Volume (M units) and Value ($ million) from 2011 to 2022]:
This 120-page research report will enable you to make confident business decisions in this globally competitive marketplace.
For more information:Make an Inquiry about this report HERE!