Private sector investments have helped the government in the Southeast Asian region to bridge the infrastructural gap among the South East Asian countries. Furthermore, installation of local Heating, Ventilation, Air Conditioning and Refrigeration (HVACR) component manufacturing units in this region have a strong growth potential for the HVACR market in the recent years.
According to a new market research report by BIS Research, the HVACR market is estimated to reach $13.63 billion by 2023 at a CAGR of 9.30% during the period 2017 to 2023. The high growth in the construction sector is driving the market in this region along with increased private investments.
The market intelligence report, titled “South East Asia HVACR Market Analy…ecast (2017-2023)”, provides a detailed analysis of the key growth drivers and restraining forces of the SEA HVACR market, with an extensive insight into various forms of developments, trends and key participants in the market. The rapid pace at which the technological developments are taking place has helped this market witness a paradigm shift towards energy efficient solutions.
Various companies such as Trane, Daikin, and Carrier, among others have invested in the SEA region to get a stronghold and increase their market share in this growing market. The companies have laid major focus on setting up their manufacturing plants in this region and also improve the sales and distribution network.
According to analysts at BIS Research, HVACR market possesses a range of opportunities across the SEA region which is untapped. These opportunities arrive at a time when there is a rise in urban population and unprecedented growth in the construction sector.
Geographically, Indonesia was the largest market in SEA region in the year 2016 in terms of value. The country is witnessing a high growth in hospitality and food industry and the increased awareness and focus on energy conservation have further contributed to the growth of this market.
Furthermore, Malaysia is expected to witness the highest growth during the forecast period.
The market report includes a thorough analysis of the market trends and size, along with market estimation based on key geographical regions. Inculcating detailed financial analysis of key players in the market, the report provides individual SWOT analysis of each company.
Some of the key players analyzed in the report are Daikin, Carrier, Mitsubishi Electric, L.G. Corporation and Lennox International, among others.
The key strategies being adopted by the market players are product launches, joint ventures, collaborations, partnerships, and contracts to attain their respective market shares in this domain.
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The report addresses the following questions about the SEA HVACR market:
- Ø What are major types of HVACR products prevalent in the Southeast Asian region?
- Ø Who are the major players in the Southeast Asia HVACR market and what is their respective company profile?
- Ø What are the key market developments and strategies of the leading players in the Southeast Asia HVACR market?
- Ø What are major drivers, challenges, and opportunities for the Southeast Asia HVACR market?
- Ø What is the market size (value and volume) of window and portable/moveable air conditioners in the major countries across Southeast Asia?
- Ø What is the market size (value and volume) of mini split systems in different countries across Southeast Asia?
- Ø What is the market size (value and volume) of single packed systems in different countries across Southeast Asia?
- Ø What is the market size (value and volume) of chillers in the Southeast Asia HVACR market?
- Ø What is the market size (value and volume) of both water–cooled and air-cooled AHU and FCU in different countries across Southeast Asia?
- Ø What is the market value of refrigerant components and supporting components of each product?
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