Global HVAC Equipment Market: Overview
Equipment that are used for heating, ventilation, and air conditioning (HVAC) have been in high demand since long in a number of developed countries but in the recent past, rapid urbanization in a number of emerging economies has further multiplied the demand. These equipment go a long way in providing a workable infrastructure to small and medium enterprises pertaining to commercial building as well as for residential and commercial buildings. These equipment also help in removing interior airborne contaminants such as odors from interior furniture and other cleaning chemicals besides providing fresh surrounding. According to this report, the demand in the global HVAC equipment market will expand at a notable CAGR of 6.20% during the forecast period of 2014 to 2022.
If the evaluations provided by the analysts of this report are to be believed, the opportunities in the HVAC equipment market, worldwide, will translate into a revenue of US$155.1 bn by 2022. Besides providing exclusive and essential data on how the demand for HVAC equipment has evolved in the recent past and what progressions can be expected over the course of the forecast period, the report also provides in-depth analysis of market dynamics such as trends, drivers, barriers, and opportunities as well as explores the quantity of demand that can be expected from various important regions and countries. To complete a comprehensive study that acts a decision-making tool for its targeted audiences such as component manufacturers, maintenance and service providers, technology investors, software and service providers, and system integrators, the report has included a featured chapter on the existing competitive landscape of the global HVAC equipment market.
Global HVAC Equipment Market: Trends and Opportunities
Rapidly incrementing activities of building and construction in a number of emerging economies, allowance of government incentives via tax credit programs as well as regulations to implement procedures that are in accordance to energy saving, and growing investments for smart homes are some of the key factors augmenting the demand in the global HVAC equipment market. In addition to that, growing trends such as rise in incorporation of building automation systems, rise in adoption of smartphones for controlling HVAC devices, development of low global warming refrigeration devices, and inclination on renewable energy sources for residential heating are expected to open new opportunities for the vendors of this market.
On the other hand, the stockholders connected to the value chain of the global HVAC equipment market must overcome challenges such as high cost of skilled labor, processes of integration and installation, and the lack of awareness regarding the benefits of HVAC systems to extract maximum profit out of the market.
Global HVAC Equipment Market: Segmentations
Based on equipment type, the market has been segmented into heating including heat pumps, furnaces, unitary heaters, and boilers, air conditioning including room air conditioners, coolers, unitary air conditioners, and others, and ventilation including air pumps or ventilation fans, and humidifier or dehumidifiers. End-use bifurcation of the market has been done into commercial, industrial, and residential. Geographically, the report analyzes the demand that can be expected out of the regions and countries of North America including the U.S., Europe including CIS, EU7, and rest of Europe, Asia Pacific including Japan, China, Indian subcontinent, and Australasia, the Middle East and Africa including GCC countries, and Latin America including Brazil.
Global HVAC Equipment Market: Competitive Landscape
Carrier Corporation, AB Electrolux, Haier Ltd., Lennox International Inc., Panasonic Corporation, LG Corporation, Samsung Electronics, and Daikin Industries Ltd. are some of the notable companies currently operating in the global HVAC equipment market.