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 HVACunitmarket 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 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. The 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 grow exponentially.
Selected Heating and Cooling Type Analysis were done in the HVAC equipment market Report:
The HVAC Equipment market is segmented into Heating Equipments and Cooling Equipments. 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. A heat pump is a segment of the heating equipment market, which is projected to hold the 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 to78.4% 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.
Excerpts on HVAC equipment market Growth Factors
- Increasing the 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 a 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.
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. Lennox 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
I. Steam Boilers II. Hot Water Boilers
- Space Heaters
- Unitary Heaters
I. Gas Unit Heaters II. Oil-Fired Unit Heaters III. Electric Unit Heaters
B. Global HVAC Equipment Market - By Cooling Equipment and Components
- Cooling Towers
I. Evaporative Cooling Towers II. Dry Cooling Towers III. Hybrid Cooling Towers
I. Window Air Conditioner II. Split Air Conditioner III. Packaged Air Conditioner IV. Central Air Conditioning System
I. Scroll Chillers II. Screw Chillers III. Centrifugal Chillers IV. Reciprocating Chillers V. Absorption Chillers
I. Ducted Coolers II. Window Coolers
- Variable Refrigerant flow Systems
C. Global HVAC Equipment Market – By Ventilation (Air Handling and Air Treatment) Equipment and Components
- Air Distribution Equipment
I. Fans II. Duct Construction III. Air-Cooling and Dehumidifying Coils IV. Air Treatment Equipment V. Air Purifiers VI. Air Filtration
I. Warm-Mist Humidifiers II. Ultrasonic Humidifiers III. Cool-Mist Humidifiers
I. Refrigeration Dehumidifiers II. Absorption Dehumidifiers
- Air Purifiers
I. Hepa Air Purifiers II. Activated Carbon Air Purifiers III. Electrostatic Air Purifiers IV. Ionic Air Purifiers
- 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
- Centrifugal Pumps
- Control Systems
I. Sensor II. Controller III. Controlled Devices IV. Actuators, Transducers, Valves, Dampers
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
I. Office II. Lodging III. Retail IV. Healthcare V. Warehouse Non-Manufacturing VI. Educational and Government Institutions VII. Airports
I. Industrial II. Automotive
F. HVAC System Market, By Implementation Type
- New Construction
G. HVAC Equipment Market by Geography (covers 10+ countries) H. HVAC Equipment Entropy Market
Companies Cited / Interviewed in HVAC equipment market:
- Honeywell International Inc.
- United Technologies Corp.
- Ingersoll Rand Plc(Trane)
- Daikin Industries Ltd.
- Danfoss A/S
- Whirlpool Corporation
- Blue Star Ltd.
- Mitsubishi Electric
- Voltas Limited
- Hitachi Automotive Systems
- Sharp Corporation
- Johnson Controls
- Vaillant Group
- Nortek Inc.
- Uponor Corporation
- Lg Electronics Inc.
- Gree Electric Appliances Inc.
- Company 19
- Company 20
Company 21+ What can you expect from the report? The HVAC Equipment Market Report is Prepared with the Main Agenda to Cover the following 20 points:
Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
- Market trends & Relevant Market Data 12. Country level Analysis
- Manufacturer Landscape 13. Competitor Analysis
- Distributor Landscape 14. Market Shares Analysis
- Pricing Analysis 15. Value Chain Analysis
- Top 10 End user Analysis 16. Supply Chain Analysis
- Product Benchmarking 17. Strategic Analysis
- Product Developments 18. Current & Future Market Landscape Analysis
- Mergers & Acquisition Analysis 19. Opportunity Analysis
- Patent Analysis 20. Revenue and Volume Analysis
Frequently Asked Questions: Q. Does IndustryARC publish country or application based reports inHVAC Equipment Market segment? Response: Yes, we do have separate reports as mentioned below:
- America HVAC Equipment Market Share(2018-2023)
- Europe HVAC Equipment Market Growth(2018-2023)
- Asia-Pacific HVAC Equipment Market Analysis(2018-2023)
- HeatingHVAC Equipment Market Forecast(2018-2023)
- Cooling HVAC Equipment Market Value (2018-2023)
- Ventilation HVAC Equipment Market Insights(2018-2023)
- ComponentsHVAC Equipment Market (2018-2023)
- End-user industry HVAC Equipment Market (2018-2023) Q. Does IndustryARC provide customized reports and charge additionally for limited customization? Response:Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
- Increase the level of data in application or end user industry.
- Increase the number of countries in geography chapter.
- Find out market shares for other smaller companies or companies which are of interest to you.
- Company profiles can be requested based on your interests.
- Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting services.
About IndustryARC:IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.