Hyderabad, India -- (SBWIRE) -- 08/06/2018 -- In the Report "HVAC equipment market: By Heating (Heat Pumps, Warm Air Furnaces, Boiler, Space Heaters, Unitary Heaters and Others); By Cooling (Cooling Towers, A.C., Chillers, Coolers and VRF Systems); By Ventilation (Air Handling, Humidifiers, Dehumidifiers, Air Purifiers, Air Filters and Ventilation Fans); By General Components (Condenser, Compressor, Centrifugal Pumps, Radiators, Control Systems and Coils); By End Use Verticals (Commercial, Residential, Industrial and Automotive); By Geography - Forecast (2018-2023)" published by IndustryARC, the market is driven by rise in number of households, demand in energy efficient product, and replacement of old equipment are seen as key determinants.
Asia-Pacific dominates with major share and growth in the HVAC Equipment Market
Asia-Pacific for heating equipment market held maximum revenue of $25432.8 million in 2017. The Heating HVAC unit market is anticipated to grow at a faster CAGR of 11.9% to reach revenue of $56332.94 million by 2023, followed by North America market. The increase in developing countries in middle class families leading towards increasing purchase due to changing lifestyle is the major driver for the industry in the APAC region. Cooling equipment market for Asia-Pacific is expected to grow at a CAGR of 8.14% to register revenue of $79074.44 million by 2023, followed by North America market. Rise in the growing demand for cooling equipment is mostly satisfied by imports of cooling equipment's, mostly from Chinese manufacturers are helping the market to grown exponentially.
Selected Heating and Cooling Type Analysis done in the full Report:
The HVAC Equipment market is segmented into Heating Equipment's and Cooling Equipment's. The revenue generated by HVAC heating equipment contributed to nearly 35% of overall revenue generated by Global HVAC market by generating revenue of $55.30 billion in 2017. The market is expected to grow at a CAGR of 8.90% to reach revenue of $93.22 billion by 2023. Heat pump is a segment of heating equipment market, which is projected to hold highest revenue for the forecast period. The heat pump market is expected to grow at a CAGR of 9.80% to reach revenue of $78.95 billion by 2023. The Cooling equipment contributed nearly to 78.4% of global revenue generated by Global HVAC industry, with Air-Conditioners leading the cooling segment market. The Air-Conditioner market is expected to grow at a CAGR of 7.505% to gain revenue of $103667.50 million by 2023.
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Excerpts on Market Growth Factors
Increasing cost of energy has forced the manufacturers to develop energy efficient devices. The launch of energy efficient products has maximized and made it more convenient for the consumer to adopt the technology. Hence, the market is expected to continue growing in the coming future.
Considering new government rules, efficient low carbon heating and its environmental friendly is growing at a good pace and has captured significant market in the residential sector.
In the commercial sector, the demand for central air conditioners, which establishes cooling towers and chillers is moderately higher due to increasing demand from the construction and refurbishment activity, will lead the market to grow decently.
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Key players of the HVAC Equipment Market
The significant marketplace holders in the HVAC market are Carrier, Trane, Johnson Controls followed by Emerson Climate Technologies as well as Lennox. These top players occupy nearly up to 46% of the overall market share. Trane is an organization, which has a model named as Trane XLi Air Source heat Pumps that comes with infinity carrier. Lenonox is known for its products like Signature® Series (XP25, XP21, XP17). York has set of products as Affinity™ Series: YZH and YZF Heat pump, last but not least Daikin has its major patents such as DZ20VC, DZ18TC, DZ16TC, DZ16SA and generally these are used under higher efficiency of equipment.
HVAC Equipment Market report is segmented as below
A. Global HVAC Equipment Market – By Heating Equipment and Components
1. Heat Pumps
I. Air-To-Air Heat Pumps
II. Air-To-Water Heat Pumps
III. Water-To-Water Heat Pumps
2. Warm Air Furnaces
I. Oil Furnaces
II. Gas Furnaces
III. Electric Furnaces
3. Boilers
I. Steam Boilers
II. Hot Water Boilers
4. Space Heaters
5. Unitary Heaters
I. Gas Unit Heaters
II. Oil-Fired Unit Heaters
III. Electric Unit Heaters
6. Others
B. Global HVAC Equipment Market - By Cooling Equipment and Components
1. Cooling Towers
I. Evaporative Cooling Towers
II. Dry Cooling Towers
III. Hybrid Cooling Towers
2. Conditioners
I. Window Air Conditioner
II. Split Air Conditioner
III. Packaged Air Conditioner
IV. Central Air Conditioning System
3. Chillers
I. Scroll Chillers
II. Screw Chillers
III. Centrifugal Chillers
IV. Reciprocating Chillers
V. Absorption Chillers
4. Coolers
I. Ducted Coolers
II. Window Coolers
5. Variable Refrigerant flow Systems
C. Global HVAC Equipment Market – By Ventilation (Air Handling and Air Treatment) Equipment and Components
1. Air Distribution Equipment
I. Fans
II. Duct Construction
III. Air-Cooling and Dehumidifying Coils
IV. Air Treatment Equipment
V. Air Purifiers
VI. Air Filtration
2. Humidifiers
I. Warm-Mist Humidifiers
II. Ultrasonic Humidifiers
III. Cool-Mist Humidifiers
3. Dehumidifiers
I. Refrigeration Dehumidifiers
II. Absorption Dehumidifiers
4. Air Purifiers
I. Hepa Air Purifiers
II. Activated Carbon Air Purifiers
III. Electrostatic Air Purifiers
IV. Ionic Air Purifiers
5. Air Filters
I. Ventilation Fans
II. Cross flow Fans
III. Axial Fans
IV. Centrifugal Fans
V. Domestic Fans
VI. Range Hood Fans
VII. Power Roof Fans
D. Global HVAC Equipment Market - By General Components
1. Condenser
2. Compressor
3. Centrifugal Pumps
4. Control Systems
I. Sensor
II. Controller
III. Controlled Devices
IV. Actuators, Transducers, Valves, Dampers
5. Coils
I. Hot Water Heating Coils
II. Standard Steam Coils
III. Steam Distributing Coils
IV. Chilled Water Cooling Coils
V. DX/Evaporator Coils
E. Global HVAC Equipment Market – By End Use Verticals Analysis
1. Commercial
I. Office
II. Lodging
III. Retail
IV. Healthcare
V. Warehouse Non-Manufacturing
VI. Educational and Government Institutions
VII. Airports
2. Residential
I. Industrial
II. Automotive
F. HVAC System Market, By Implementation Type
1. New Construction
2. Retrofit
G. HVAC Equipment Market by Geography (covers 10+ countries)
H. HVAC Equipment Entropy Market
Companies Citied / Interviewed
1. Honeywell International Inc.
2. United Technologies Corp.
3. Ingersoll Rand Plc(Trane)
4. Daikin Industries Ltd.
5. Danfoss A/S
6. Whirlpool Corporation
7. Blue Star Ltd.
8. Mitsubishi Electric
9. Voltas Limited
10. Hitachi Automotive Systems
11. Sharp Corporation
12. Siemens
13. Johnson Controls
14. Vaillant Group
15. Nortek Inc.
16. Uponor Corporation
17. Lg Electronics Inc.
18. Gree Electric Appliances Inc.
19. Company 19
20. Company 20
21. Company 21+
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