HVAC Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 - 2018
Albany, NY -- (SBWIRE) -- 07/09/2015 -- A new report published by Transparency Market Research (TMR), titled "HVAC Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018", offers an insight into the operations of the industry, its primary growth factors, and major restraints. The report helps in identifying the threat from substitute products and new entrants, bargaining power of customers and suppliers, and the intensity of competitive rivalry. According to the report, the global HVAC (heating, ventilation, and air conditioning) market is expected to reach US$139 billion by 2018, growing at a CAGR of 8.9% from 2012 and 2018.
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The global HVAC market includes heating, ventilation, and air conditioning solutions for consumers across the globe. Changes in energy regulations, growing demand for cooling and heating solutions in Asia Pacific, and innovative approaches towards designing products is accelerating the growth of the global HVAC market.
The international market for HVAC has been segmented on the basis of type, application, components, and geography. On the basis of type, the HVAC market includes heating equipment, cooling equipment, and ventilation equipment. The heating equipment segment is further divided into furnaces, heat pumps, boilers, and unitary heaters; cooling equipment includes unitary air conditioners, room air conditioners, and coolers; and ventilation equipment includes ventilation air pumps or fans and dehumidifiers or humidifiers. On the basis of application, the global HVAC market includes residential, commercial, and industrial. The components segment is fragmented into heating unit, fan coil unit, control work, and ventilation duct work. Geographically, the HVAC market is divided into North America, Europe, Asia Pacific, and Rest of the World.
The Asia-Pacific region is leading the global HVAC market due to increasing economic activities and expanding construction industry. This growth is majorly attributable to rampant urbanization and rising disposable incomes, which allows the consumer to spend on luxury goods and services. As North America continues to recover from the economic jolt it received a few years ago, the demand for HVAC solutions across residential sectors will grow at a steady pace in the coming few years. Furthermore, slowdown in industrial activities in western countries is likely to bring dormancy to the growth of the HVAC market in North America.
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The global market for HVAC is dominated by the non-residential sector, with the demand from the commercial sector accounting for one-third of the total market share. However, analysts predict that the residential sector will experience a good growth rate in the coming few years. The industrial sector is making slow progress and is predicted to lose its market share to residential and commercial sub-segments.
United Technologies Corporation – Climate, Control and Security Unit, AB Electrolux, Diakin Industries Ltd., Haier Inc., Panasonic Corporation, Samsung Electronics, Lennox International Inc., and LG Corporation are some of the notable participants of the global HVAC market.
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