Major drivers of the global HVAC equipment market are increase in new households, rising average construction spending, rapid urbanization and growth in disposable income across several major economies.
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The Global HVAC Equipment market is valued at USD XX.XX billion in 2016 and is expected to reach a value of USD XX.XX billion by the end of 2022, growing at a projected CAGR of XX.XX% during the forecast period of 2017 – 2022. In residential, industrial or commercial buildings, heating or cooling is implemented by Heating, Ventilation, and Air Conditioning (HVAC) equipment.
It also provides fresh outdoor air to eliminate inner airborne contaminants such as volatile organic compounds and odours emitted from interior fittings or various cleaning chemicals among others. In the coming years, HVAC equipment is expected to witness high traction in residential and commercial market segments while moderate growth will be observed in the industrial segment.
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Growing requirement from commercial segment and high demand for HVAC products in the Asia Pacific region are other key drivers of the market. However, high energy consumption of HVAC equipment is a major factor restraining the growth of this market.
Over the forecast period, vendors of HVAC equipment have revenue generation opportunities in the areas related to the advancement of energy efficient systems, increasing trend of smart homes and implementation of green technologies. One of the key concerns that global manufactures are focusing on is energy efficiency.
Energy efficient HVAC products are already being launched by number of vendors such as Carrier, Daikin and Lennox to meet the demand arising from consumers and industries.
Market segmentation has been done on the basis of equipment type, end-use application, components and geography. Equipment type market is segmented into heating, air conditioning and ventilation.
It is further segmented into furnaces, heat pumps, boilers and unitary heaters. Air conditioning equipment is segmented into unitary air conditioners, coolers, room air conditioners and others.
Ventilation fans/air pumps and humidifiers/dehumidifiers are the further segmentations of the ventilation systems. End-use application market is segmented into commercial, industrial sector and residential.
On the basis of components the market is segmented into Fan Coil Unit (FCU), heating unit, cooling unit, Ventilation/ductwork and control systems.
Read more details of the report at: Global HVAC Equipment Market 2017-2022
Some of the key manufacturers of HVAC equipment mentioned in the report are LG Corporation, Carrier Corporation, Panasonic Corporation, Haier Ltd., Samsung Electronics, Daikin Industries Ltd., Lennox International Inc. and AB Electrolux among others
Table of Contents:
- Key Findings
- Market Overview & Dynamics
- Technology snapshot
- Market Segmentation
- Market Segmentation, By Region
- Company Profiles
- Investment Analysis
- Future of HVAC Equipment Market
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