The report, titled “HVAC Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022”, states that registering a healthy 6.20% CAGR between 2014 and 2022, the HVAC equipment market is likely to rise from a value of US$91.3 bn in 2013 to US$155.1 bn by 2022.
Albany, NY -- (SBWIRE) -- 01/11/2018 -- The global market for HVAC equipment is driven by technological developments, stringent government regulations, increased demand from the commercial sector, rising consumer expectations, climate variations, and strong demand from Asia Pacific. On the other hand, the HVAC equipment market is faced by a major challenge – increased energy consumption. However, ongoing trends such as smart homes, green technologies, and energy-efficient systems are anticipated to present several opportunities for growth over the next seven years.
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Heating, Ventilation, and Air Conditioning (HVAC) equipment implement heating or cooling for residential, industrial or commercial buildings. The HVAC systems also provide fresh outdoor air to remove interior airborne contaminants such as volatile organic compounds and odors emitted from interior furnishings or various cleaning chemicals among others. The HVAC equipment are anticipated to penetrate into both residential and commercial market segments in the coming years. The industrial segment is another key segment that is expected to witness moderate growth over the forecast period. The demand for air conditioning equipment was the largest globally and thus, this segment dominated the HVAC equipment market in 2013.
Key factors driving the global HVAC equipment market include rising urbanization, increase in new households and average construction spending, and rise in disposable income. Another key driver of this market is the growing demand from commercial segment and high growth and demand for HVAC products in the Asia Pacific region. However, a major factor restraining the growth of HVAC equipment market is high energy consumption of HVAC equipment. The market opportunities in the coming years are related to the growing trend of smart homes, development of energy efficient systems and adoption of green technologies by HVAC equipment manufacturers. Energy efficiency is thus one of the key concerns that global manufactures are focusing on. A large number of players such as Daikin, Carrier and Lennox have already started launching energy efficient HVAC products.
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The global HVAC Equipment market is segmented by equipment type, end-use application and geography. The market by equipment type is segmented into heating, air conditioning and ventilation. The heating equipment further studied include heat pumps, furnaces, unitary heaters and boilers whereas the air conditioning equipment include room air conditioners, unitary air conditioners and, coolers and others. The ventilation systems are further segmented into ventilation fans/air pumps and humidifiers/dehumidifiers. The market by end-use application is segmented into residential, commercial and industrial sector. The market size and forecasts in terms of revenue (US$ Bn) for each of these segments have been provided for the period 2012 to 2022, considering 2012 and 2013 as the base years. The report also provides compounded annual growth rate (CAGR) for each segment of the market for the forecast period from 2014 to 2022. Geographically, the HVAC Equipment market has been segmented into five regions, namely, North America, Europe, Asia-Pacific, Middle East and Africa (MEA) and Latin America.
The report includes market dynamics, porters five force analysis, legal and regulatory standards for HVAC equipment market. The report also includes analysis of key participants in the HVAC equipment along with their role in the ecosystem. The market share for different equipment types such as heat pumps, furnaces etc. have also been included in the report. We have included future trends that will impact the demand. The study provides market estimation in terms of revenue and forecast for the period 2012 to 2022.
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Some of the key manufacturers of HVAC equipment include Daikin Industries Ltd., Carrier Corporation, Haier Ltd., Samsung Electronics, Panasonic Corporation, Lennox International Inc., AB Electrolux and LG Corporation among others.
This report analyzes the global HVAC Equipment market in terms of revenue (US$ Bn). The market has been segmented as follows:
HVAC Equipment Market, by Equipment Type:
Room Air Conditioners
Unitary Air Conditioners
Coolers and Others
Ventilation Fans/Air Pumps
HVAC Equipment Market, by End-use Application:
HVAC Equipment Market, by Geography:
Rest of North America
Rest of Europe
Rest of Asia Pacific
Middle East and Africa (MEA)
Rest of MEA
Rest of Latin America