Market Research Reports

HVAC Equipment Market (Equipment Type: Heating (Heat Pumps, Furnaces, Unitary Heaters, Boilers), Air Conditioning (Room Air Conditioners, Unitary Air Conditioners, Coolers and Others), Ventilation (Ventilation Fans/Air Pumps, Humidifier/Dehumidifiers); End-use Application: Residential, Commercial, Industrial) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022

105pages
Published Date: 2015-07-16
 

Description



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.

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.

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:
  • Heating
    • Heat Pumps
    • Furnaces
    • Unitary Heaters
    • Boilers
  • Air Conditioning
    • Room Air Conditioners
    • Unitary Air Conditioners
    • Coolers and Others
  • Ventilation
    • Ventilation Fans/Air Pumps
    • Humidifiers/Dehumidifiers
HVAC Equipment Market, by End-use Application:
  • Residential
  • Commercial
  • Industrial
HVAC Equipment Market, by Geography:
  • North America
    • U.S.
    • Rest of North America
  • Europe
    • EU7
    • CIS
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • Indian Subcontinent
    • Australasia
    • Rest of Asia Pacific
  • Middle East and Africa (MEA)
    • GCC Countries
    • North Africa
    • South Africa
    • Rest of MEA
  • Latin America
    • Brazil
    • Rest of Latin America

Table of Contents



Chapter 1 Preface
1.1 Report Scope
1.2 Market Segmentation
1.3 Research methodology

Chapter 2 Executive Summary
2.1 Global HVAC Equipment Market Revenue, 2012 – 2022 (US$ Bn) and Year-on-Year Growth (%)
2.2 Global HVAC Equipment Market Snapshot
     2.2.1 Market Snapshot: Global HVAC Equipment Market (2013 and 2022)

Chapter 3 HVAC Equipment Market Analysis
3.1 Market overview
3.2 Key Trends Analysis
     3.2.1 Market Trends
     3.2.2 Future Outlook
3.3 Legal and Regulatory Standards
     3.3.1 Montreal Protocol
     3.3.2 Kyoto Protocol
     3.3.3 LEED certification
     3.3.4 SEER rating
3.4 Market Dynamics
     3.4.1 Drivers
             3.4.1.1 Stringent Government Regulations
             3.4.1.2 Technological Developments To Meet Consumer Expectations
             3.4.1.3 Climate Variations (Shift From Historical Records)
             3.4.1.4 Commercial Segment and Asia-Pacific Region Driving The Growth
     3.4.2 Restraints
             3.4.2.1 Higher Consumption Of Energy
             3.4.3 Opportunities
             3.4.3.1 Development Of Energy Efficient Systems
             3.4.3.2 Trend Of Smart Homes
             3.4.3.3 Higher Market Penetration Aided By Green Technologies
     3.4.4 Porter’s Five Forces Analysis
             3.4.4.1 Bargaining Power Of Suppliers
             3.4.4.2 Bargaining Power Of Buyers
             3.4.4.3 Threat Of New Entrants
             3.4.4.4 Threat Of Substitutes
             3.4.4.5 Degree Of Competition
3.5 HVAC Equipment Market: Distribution Channel Analysis
3.6 Global HVAC Equipment Market, by Equipment Type, 2013 and 2022 (%)
     3.6.1 Heating equipment
             3.6.1.1 Global Heating Equipment Market Size and Forecast, 2012 – 2022 (US$ Bn)
             3.6.1.2 Global Heat Pumps Market Size and Forecast, 2012 – 2022 (US$ Bn)
             3.6.1.3 Global Furnaces Market Size and Forecast, 2012 – 2022 (US$ Bn)
             3.6.1.4 Global Unitary Heaters Market Size and Forecast, 2012 – 2022 (US$ Bn)
             3.6.1.5 Global Boilers Market Size and Forecast, 2012 – 2022 (US$ Bn)
3.6.2 Air Conditioning Equipment
             3.6.2.1 Global Air Conditioning Equipment Market Size and Forecast, 2012 – 2022 (US$ Bn)
             3.6.2.2 Global Room Air Conditioners Market Size and Forecast, 2012 – 2022 (US$ Bn)
             3.6.2.3 Global Unitary Air Conditioners Market Size and Forecast, 2012 – 2022 (US$ Bn)
             3.6.2.4 Global Other Cooling Equipment (Coolers) Market Size and Forecast, 2012 – 2022 (US$ Bn)
     3.6.3 Ventilation equipment
             3.6.3.1 Global Ventilation Equipment Market Size and Forecast, 2012 – 2022 (US$ Bn)
             3.6.3.2 Global Ventilation Fans Market Size and Forecast, 2012 – 2022 (US$ Bn)
            3.6.3.3 Global Humidifiers/Dehumidifiers Market Size and Forecast, 2012 – 2022 (US$ Bn)
3.7 Global HVAC Equipment Market, By End-use Application, 2012 - 2022 (%)
     3.7.1 Global Residential HVAC Equipment Market Size and Forecast, 2012 – 2022 (US$ Bn)
     3.7.2 Global Industrial HVAC Equipment Market Size and Forecast, 2012 – 2022 (US$ Bn)
     3.7.3 Global Commercial HVAC Equipment Market Size and Forecast, 2012 – 2022 (US$ Bn)
3.8 Competitive landscape
     3.8.1 Summary
     3.8.2 Market Share Analysis of Top 5 Players Manufacturing HVAC Equipment
     3.8.3 Market Share Analysis of Top 5 Players Manufacturing Heat Pumps
     3.8.4 Market Share Analysis of Top 5 Players Manufacturing Furnaces
     3.8.5 Market Share Analysis of Top 5 Players Manufacturing Unitary Heaters
     3.8.6 Market Share Analysis of Top 5 Players Manufacturing Boilers
     3.8.7 Market Share Analysis of Top 5 Players Manufacturing Humidifiers/Dehumidifiers
     3.8.8 Market Share Analysis of Top 5 Players Manufacturing Room Air Conditioners
     3.8.9 Market Share Analysis of Top 5 Players Manufacturing Unitary Air Conditioners
     3.8.10 Market Share Analysis of Top 5 Players Manufacturing Ventilation Fans
     3.8.11 Market Share Analysis of Top 5 Players Manufacturing Coolers

Chapter 4 North America HVAC Equipment Market Analysis, 2012 – 2022 (US$ Bn)
4.1 Overview
     4.1.1 North America HVAC Equipment Market Revenue, 2012 – 2022 (US$ Bn) and Year-on-Year Growth (%)
4.2 North America HVAC Equipment Market, By Equipment Type, 2012 - 2022 (%)
     4.2.1 North America HVAC Equipment Market Revenue and Forecast, by Equipment Type, 2012 – 2022 (US$ Bn)
     4.2.2 Heating Equipment
       4.2.2.1 North America HVAC Equipment Market Revenue and Forecast, by Heating Equipment, 2012 – 2022 (US$ Bn)
     4.2.3 Air Conditioning Equipment
            4.2.3.1 North America HVAC Equipment Market Revenue and Forecast, by Air Conditioning Equipment, 2012 – 2022 (US$ Bn)
     4.2.4 Ventilation equipment
        4.2.4.1 North America HVAC Equipment Market Revenue and Forecast, by Ventilation Equipment, 2012 – 2022 (US$ Bn)
4.3 North America HVAC Equipment Market, By End-use Application, 2012 - 2022 (%)
     4.3.1 North America HVAC Equipment Market Revenue and Forecast, by End-use Application, 2012 – 2022 (US$ Bn)
4.4 North America HVAC Equipment Market, By Country, 2012 - 2022 (%)
     4.4.1 North America HVAC Equipment Market Revenue and Forecast, by Country, 2012 – 2022 (US$ Bn)

Chapter 5 Europe HVAC Equipment Market Analysis, 2012 – 2022 (US$ Bn)
5.1 Overview
     5.1.1 Europe HVAC Equipment Market Revenue, 2012 – 2022 (US$ Bn) and Year-on-Year Growth (%)
5.2 Europe HVAC Equipment Market, By Equipment Type, 2012 - 2022 (%)
     5.2.1 Europe HVAC Equipment Market Revenue and Forecast, by Equipment Type, 2012 – 2022 (US$ Bn)
     5.2.2 Heating Equipment
          5.2.2.1 Europe HVAC Equipment Market Revenue and Forecast, by Heating Equipment, 2012 – 2022 (US$ Bn)
     5.2.3 Air Conditioning Equipment
       5.2.3.1 Europe HVAC Equipment Market Revenue and Forecast, by Air Conditioning Equipment, 2012 – 2022 (US$ Bn)
     5.2.4 Ventilation equipment
       5.2.4.1 Europe HVAC Equipment Market Revenue and Forecast, by Ventilation Equipment, 2012 – 2022 (US$ Bn)
5.3 Europe HVAC Equipment Market, By End-use Application, 2012 - 2022 (%)
     5.3.1 Europe HVAC Equipment Market Revenue and Forecast, by End-use Application, 2012 – 2022 (US$ Bn)
5.4 Europe HVAC Equipment Market, By Country, 2012 - 2022 (%)
     5.4.1 Europe HVAC Equipment Market Revenue and Forecast, by Country, 2012 – 2022 (US$ Bn)

Chapter 6 Asia Pacific HVAC Equipment Market Analysis, 2012 – 2022 (US$ Bn)
6.1 Overview
     6.1.1 Asia Pacific HVAC Equipment Market Revenue, 2012 – 2022 (US$ Bn) and Year-on-Year Growth (%)
6.2 Asia Pacific HVAC Equipment Market, By Equipment Type, 2012 - 2022 (%)
     6.2.1 Asia Pacific HVAC Equipment Market Revenue and Forecast, by Equipment Type, 2012 – 2022 (US$ Bn)
     6.2.2 Heating Equipment
          6.2.2.1 Asia Pacific HVAC Equipment Market Revenue and Forecast, by Heating Equipment, 2012 – 2022 (US$ Bn)
     6.2.3 Air Conditioning Equipment
        6.2.3.1 Asia Pacific HVAC Equipment Market Revenue and Forecast, by Air Conditioning Equipment, 2012 – 2022 (US$ Bn)
     6.2.4 Ventilation equipment
       6.2.4.1 Asia Pacific HVAC Equipment Market Revenue and Forecast, by Ventilation Equipment, 2012 – 2022 (US$ Bn)
6.3 Asia Pacific HVAC Equipment Market, By End-use Application, 2012 - 2022 (%)
     6.3.1 Asia Pacific HVAC Equipment Market Revenue and Forecast, by End-use Application, 2012 – 2022 (US$ Bn)
6.4 Asia Pacific HVAC Equipment Market, By Country, 2012 - 2022 (%)
     6.4.1 Asia Pacific HVAC Equipment Market Revenue and Forecast, by Country, 2012 – 2022 (US$ Bn)

Chapter 7 Middle East and Africa HVAC Equipment Market Analysis, 2012 – 2022 (US$ Bn)
7.1 Overview
     7.1.1 Middle East and Africa HVAC Equipment Market Revenue, 2012 – 2022 (US$ Bn) and Year-on-Year Growth (%)
7.2 Middle East and Africa HVAC Equipment Market, By Equipment Type, 2012 - 2022 (%)
     7.2.1 Middle East and Africa HVAC Equipment Market Revenue and Forecast, by Equipment Type, 2012 – 2022 (US$ Bn)
     7.2.2 Heating Equipment
           7.2.2.1 Middle East and Africa HVAC Equipment Market Revenue and Forecast, by Heating Equipment, 2012 – 2022 (US$ Bn)
     7.2.3 Air Conditioning Equipment
         7.2.3.1 Middle East and Africa HVAC Equipment Market Revenue and Forecast, by Air Conditioning Equipment, 2012 – 2022 (US$ Bn)
     7.2.4 Ventilation equipment
         7.2.4.1 Middle East and Africa HVAC Equipment Market Revenue and Forecast, by Ventilation Equipment, 2012 – 2022 (US$ Bn)
7.3 Middle East and Africa HVAC Equipment Market, By End-use Application, 2012 - 2022 (%)
     7.3.1 Middle East and Africa HVAC Equipment Market Revenue and Forecast, by End-use Application, 2012 – 2022 (US$ Bn)
7.4 Middle East and Africa (MEA) HVAC Equipment Market, By Country, 2012 - 2022 (%)
     7.4.1 Middle East and Africa (MEA) HVAC Equipment Market Revenue and Forecast, by Country, 2012 – 2022 (US$ Bn)

Chapter 8 Latin America HVAC Equipment Market Analysis, 2012 – 2022 (US$ Bn)
8.1 Overview
     8.1.1 Latin America HVAC Equipment Market Revenue, 2012 – 2022 (US$ Bn) and Year-on-Year Growth (%)
8.2 Latin America HVAC Equipment Market, By Equipment Type, 2012 - 2022 (%)
     8.2.1 Latin America HVAC Equipment Market Revenue and Forecast, by Equipment Type, 2012 – 2022 (US$ Bn)
     8.2.2 Heating Equipment
        8.2.2.1 Latin America HVAC Equipment Market Revenue and Forecast, by Heating Equipment, 2012 – 2022 (US$ Bn)
     8.2.3 Air Conditioning Equipment
           8.2.3.1 Latin America HVAC Equipment Market Revenue and Forecast, by Air Conditioning Equipment, 2012 – 2022 (US$ Bn)
     8.2.4 Ventilation equipment
       8.2.4.1 Latin America HVAC Equipment Market Revenue and Forecast, by Ventilation Equipment, 2012 – 2022 (US$ Bn)
8.3 Latin America HVAC Equipment Market, By End-use Application, 2012 - 2022 (%)
     8.3.1 Latin America HVAC Equipment Market Revenue and Forecast, by End-use Application, 2012 – 2022 (US$ Bn)
8.4 Latin America HVAC Equipment Market, By Country, 2012 - 2022 (%)
     8.4.1 Latin America HVAC Equipment Market Revenue and Forecast, by Country, 2012 – 2022 (US$ Bn)

Chapter 9 Company Profiles
9.1 United Technologies Corporation (Carrier)
9.2 Daikin Industries. Ltd.
9.3 Haier Inc.
9.4 Samsung Electronics
9.5 Panasonic Corporation
9.6 Lennox International Inc.
9.7 AB Electrolux
9.8 LG Corporation

List of Figures

FIG. 1 Global HVAC Equipment Market Revenue, 2012 – 2022 (US$ Bn) and Year-On-Year Growth (%)
FIG. 2 Montreal Protocol and EPA Schedule: HCFC Refrigerant Phase-Out Timeline
FIG. 3 Porter’s Five Forces Analysis
FIG. 4 Global HVAC Equipment Market, By Equipment Type, 2013 and 2022 (%)
FIG. 5 Global Heating Equipment Market Size and Forecast, 2012 – 2022 (US$ Bn)
FIG. 6 Global Heat Pumps Market Size and Forecast, 2012 – 2022 (US$ Bn)
FIG. 7 Global Furnaces Market Size and Forecast, 2012 – 2022 (US$ Bn)
FIG. 8 Global Unitary Heaters Market Size and Forecast, 2012 – 2022 (US$ Bn)
FIG. 9 Global Boilers Market Size and Forecast, 2012 – 2022 (US$ Bn)
FIG. 10 Global Air Conditioning Equipment Market Size and Forecast, 2012 – 2022 (US$ Bn)
FIG. 11 Global Room Air Conditioners Market Size and Forecast, 2012 – 2022 (US$ Bn)
FIG. 12 Global Unitary Air Conditioners Market Size and Forecast, 2012 – 2022 (US$ Bn)
FIG. 13 Global Other Cooling Equipment (Coolers) Market Size and Forecast, 2012 – 2022 (US$ Bn)
FIG. 14 Global Ventilation Equipment Market Size and Forecast, 2012 – 2022 (US$ Bn)
FIG. 15 Global Ventilation Fans Market Size and Forecast, 2012 – 2022 (US$ Bn)
FIG. 16 Global Humidifiers/Dehumidifiers Market Size and Forecast, 2012 – 2022 (US$ Bn)
FIG. 17 Global HVAC Equipment Market, By End-use Application 2012 and 2022 (%)
FIG. 18 Global Residential HVAC Equipment Market Size and Forecast, 2012 – 2022 (US$ Bn)
FIG. 19 Global Industrial HVAC Equipment Market Size and Forecast, 2012 – 2022 (US$ Bn)
FIG. 20 Global Commercial HVAC Equipment Market Size and Forecast, 2012 – 2022 (US$ Bn)
FIG. 21 Market Shares Of Key Players, 2013 (%)
FIG. 22 Market Shares Of Key Players, 2013 (%)
FIG. 23 Market Shares Of Key Players, 2013 (%)
FIG. 24 Market Shares Of Key Players, 2013 (%)
FIG. 25 Market Shares Of Key Players, 2013 (%)
FIG. 26 Market Shares Of Key Players, 2013 (%)
FIG. 27 Market Shares Of Key Players, 2013 (%)
FIG. 28 Market Shares Of Key Players, 2013 (%)
FIG. 29 North America HVAC Equipment Market Revenue, 2012 – 2022 (US$ Bn) and Year-On-Year Growth (%)
FIG. 30 Europe HVAC Equipment Market Revenue, 2012 – 2022 (US$ Bn) and Year-On-Year Growth (%)
FIG. 31 Asia Pacific HVAC Equipment Market Revenue, 2012 – 2022 (US$ Bn) and Year-On-Year Growth (%)
FIG. 32 Middle East and Africa HVAC Equipment Market Revenue, 2012 – 2022 (US$ Bn) and Year-On-Year Growth (%)
FIG. 33 Latin America HVAC Equipment Market Revenue, 2012 – 2022 (US$ Bn) and Year-On-Year Growth (%)

List of Tables

TABLE 1 Market Snapshot: Global HVAC Equipment Market (2013 and 2022)
TABLE 2 Impact Analysis of Drivers
TABLE 3 Growth in Industrial Output, through First Quarter of 2013 (%)
TABLE 4 North America HVAC Equipment Market Revenue and Forecast, by Equipment Type, 2012 – 2022 (US$ Bn)
TABLE 5 North America HVAC Equipment Market Revenue and Forecast, by Heating Equipment, 2012 – 2022 (US$ Bn)
TABLE 6 North America HVAC Equipment Market Revenue and Forecast, by Air Conditioning Equipment, 2012 – 2022 (US$ Bn)
TABLE 7 North America HVAC Equipment Market Revenue and Forecast, by Ventilation Equipment, 2012 – 2022 (US$ Bn)
TABLE 8 North America HVAC Equipment Market Revenue and Forecast, by End-use Application, 2012 – 2022 (US$ Bn)
TABLE 9 North America HVAC Equipment Market Revenue and Forecast, by Country, 2012 – 2022 (US$ Bn)
TABLE 10 Europe HVAC Equipment Market Revenue and Forecast, by Equipment Type, 2012 – 2022 (US$ Bn)
TABLE 11 Europe HVAC Equipment Market Revenue and Forecast, by Heating Equipment, 2012 – 2022 (US$ Bn)
TABLE 12 Europe HVAC Equipment Market Revenue and Forecast, by Air Conditioning Equipment, 2012 – 2022 (US$ Bn)
TABLE 13 Europe HVAC Equipment Market Revenue and Forecast, by Ventilation Equipment, 2012 – 2022 (US$ Bn)
TABLE 14 Europe HVAC Equipment Market Revenue and Forecast, by End-use Application, 2012 – 2022 (US$ Bn)
TABLE 15 Europe HVAC Equipment Market Revenue and Forecast, by Country, 2012 – 2022 (US$ Bn)
TABLE 16 Asia Pacific HVAC Equipment Market Revenue and Forecast, by Equipment Type, 2012 – 2022 (US$ Bn)
TABLE 17 Asia Pacific HVAC Equipment Market Revenue and Forecast, by Heating Equipment, 2012 – 2022 (US$ Bn)
TABLE 18 Asia Pacific HVAC Equipment Market Revenue and Forecast, by Air Conditioning Equipment, 2012 – 2022 (US$ Bn)
TABLE 19 Asia Pacific HVAC Equipment Market Revenue and Forecast, by Ventilation Equipment, 2012 – 2022 (US$ Bn)
TABLE 20 Asia Pacific HVAC Equipment Market Revenue and Forecast, by End-use Application, 2012 – 2022 (US$ Bn)
TABLE 21 Asia Pacific HVAC Equipment Market Revenue and Forecast, by Country, 2012 – 2022 (US$ Bn)
TABLE 22 Middle East and Africa HVAC Equipment Market Revenue and Forecast, by Equipment Type, 2012 – 2022 (US$ Bn)
TABLE 23 Middle East and Africa HVAC Equipment Market Revenue and Forecast, by Heating Equipment, 2012 – 2022 (US$ Bn)
TABLE 24 Middle East and Africa HVAC Equipment Market Revenue and Forecast, by Air Conditioning Equipment, 2012 – 2022 (US$ Bn)
TABLE 25 Middle East and Africa HVAC Equipment Market Revenue and Forecast, by Ventilation Equipment, 2012 – 2022 (US$ Bn)
TABLE 26 Middle East and Africa HVAC Equipment Market Revenue and Forecast, by End-use Application, 2012 – 2022 (US$ Bn)
TABLE 27 Middle East and Africa (MEA) HVAC Equipment Market Revenue and Forecast, by Country, 2012 – 2022 (US$ Bn)
TABLE 28 Latin America HVAC Equipment Market Revenue and Forecast, by Equipment Type, 2012 – 2022 (US$ Bn)
TABLE 29 Latin America HVAC Equipment Market Revenue and Forecast, by Heating Equipment, 2012 – 2022 (US$ Bn)
TABLE 30 Latin America HVAC Equipment Market Revenue and Forecast, by Air Conditioning Equipment, 2012 – 2022 (US$ Bn)
TABLE 31 Latin America HVAC Equipment Market Revenue and Forecast, by Ventilation Equipment, 2012 – 2022 (US$ Bn)
TABLE 32 Latin America HVAC Equipment Market Revenue and Forecast, by End-use Application, 2012 – 2022 (US$ Bn)
TABLE 33 Latin America HVAC Equipment Market Revenue and Forecast, by Country, 2012 – 2022 (US$ Bn)

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Free Market Analysis


The global HVAC equipments market is forecast to record moderate growth rate for the period 2012 - 2018. The market is expected to be dominated by cooling systems, which are estimated to account for more than eight deciles of the overall industry growth. Of the different macroeconomic and microeconomic factors influencing the growth trends worldwide, rise in the number of new households, increase in disposable income, surge in demand for energy efficient and environment friendly products, and need of product upgrade or replacement demand are seen as key determinants. However, the latter is more prominent in North America and Europe while the other factors are driving the demand across Asia Pacific and Rest of the World (RoW) regions.

The different HVAC equipments are broadly segmented into three types: heating equipments, cooling equipments, and ventilation equipments. Heat pumps among the heating equipments and room air conditioners among the cooling equipments are the fastest growing product types, and are collectively expected to account for more than fifty percent of the global market. This is due to enhanced energy efficiency provided by room air conditioners and multiple uses of heat pumps (for both heating and cooling). Moreover, the energy efficiency issues related with other heating equipments, such as furnaces, unitary heaters and boilers, is restricting their growth. These systems, except for unitary heaters, are widely used in district heating systems.

Unitary air-conditioners are the second fastest growing product segment in the cooling equipments category. Despite the global rise of cooling equipments, coolers are witnessing a gradual declining trend, with demand coming from Third World countries and low income segments of emerging economies of the Asia Pacific region. 

The market by industry type is dominated by the non-residential sector, with commercial sector demand alone accounting for more than one third of the global market share. However, the residential sector is experiencing healthy growth, and marginally lags behind the commercial sector. Industrial sector is still recovering slowly, and is expected to lose market share to residential and commercial sectors. Tourism alone accounts for around fifty percent of the demand for commercial sector, followed by the construction segment. However, a large share of this commercial demand comes from cooling and ventilation equipments. 

Cross sectional analysis of the HVAC equipments by components signifies the importance of cooling units in a HVAC system. Issues related to environment and energy efficiency are key challenges faced by industry players with stakes in the segment. Cooling units are valued to account for the largest share of the market, and is the fastest growing component type. Different control systems used in HVAC equipments/systems too are seeing rising demand and increased preference, due to shift in preference for smart devices with advanced features. This trend is more evident in the developed markets of North America and Europe. As a result, the two regions are growing at a close rate, with Europe marginally lagging behind. However, Asia Pacific, on account of its large scale and fast adoption, is expected to remain the largest geographic market throughout the forecast period. 

Amidst intense competition, industry players are adopting rigorous strategies to ensure their competitive advantage over competitors. Mergers and acquisitions are seen as mitigating strategies for competition from small players. Recent acquisition of Goodman by Daikin is seen as an effort by Daikin to gain a strong foothold in North America. This move is expected to see Daikin taking over Carrier as the leading global brand. The other market participants are Haier, Electrolux, LG, Samsung, and many other regional and small players. 

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