Rapid urbanization and the growing need for energy efficient heating solutions and ventilation systems are some of the key factors bolstering industry growth. Additionally, rising government approval requirements and growing awareness level among general population is predicted to fuel product demand over the coming years as well. The Global HVAC Market was valued at US$ 135 billion in 2019.
Governments across the globe are offering incentives and discounts for ventilation, and Air Conditioning (HVAC) units, thereby fostering product sales. Europe has witnessed massive growth over the past few years owing to the booming housing and tourism industry in the region. Additionally, rising sales of HVAC units across the North America region is credited to the well-established service industry and growing real-estate sector.
Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global HVAC market. Furthermore, the report would reflect on the key developments, global & regional sales network, business strategies, security & exchange overview, research & development activities, production facilities, product portfolio, employee strength, and key executive, for all the players considered under the scope of study. For instance, Johnson Controls International PLC reported revenues of US$ 31,400 Million in 2018 and the segment and geographic analysis of the company indicates that Building Technologies & Solutions is the dominating segment of the company, with the United States and China being the major revenue generating region.
The report titled “HVAC Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032” wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period.
Moreover, the HVAC market study takes into consideration market segmentation based heating equipment type, ventilation equipment type, cooling equipment type, implementation type, by application, and geography. Based on heating equipment type, the market is segmented into heat pumps, furnaces, boilers, and unitary heaters. Based on ventilation equipment, the market is segmented into humidifiers, dehumidifiers, air purifiers, air heaters, ventilation filters, and air handling units. Based on cooling equipment type, the market is segmented into room air conditioners, unitary conditioners, chillers, coolers, cooling towers, and VRF units). On the basis of implementation type, the market is segmented into new construction and retrofit. Based on application, the market is segmented into Commercial (Offices and buildings, Supermarkets/Hypermarkets, Government, Healthcare, Hospitality, and Transportation), Industrial (Oil and Gas, Food and Beverage, Automotive, and Energy and Utilities) and Residential). Based on geography, the market is segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa.
Additionally, the study provides in-depth analysis of individual company considered under the scope of study with a focus on all operating business segment, and would identify the segment of the company focusing on rocket and missile products. Further, market share of company in the global HVAC market would also be calculated. For instance, Johnson Controls International PLC operates through two business segments namely Building Technologies & Solutions and Power Solutions. Moreover, Building Technologies & Solutions segment of the company deals with HVAC with a revenue contribution of US$ 23,400 Million.
The report study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the HVAC manufacturing companies. Furthermore, the global HVAC market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the HVAC business segment of the company.
Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global HVAC market. For instance, "In the fourth quarter of fiscal 2016, Johnson Controls, Inc. ("JCI Inc.") and Tyco completed their combination with JCI Inc. merging with a wholly owned, indirect subsidiary of Tyco (the "Merger"). Following the Merger, Tyco changed its name to “Johnson Controls International plc” and JCI Inc. is a wholly-owned subsidiary of Johnson Controls International plc. The Merger was accounted for as a reverse acquisition using the acquisition method of accounting in accordance with Accounting Standards.
Major market players include Johnson Controls International PLC, Samsung Electronics Co., Ltd., Lennox International Inc., Ingersoll-Rand plc, United Technologies Co., Daikin Industries Ltd., and Mitsubishi Electric Co.
Segmentation:
By Heating Equipment Type
By Ventilation Equipment Type
By Cooling Equipment Type
By Implementation Type
By Application
By Region
Rapid urbanization and the growing need for energy efficient heating solutions and ventilation systems are some of the key factors bolstering industry growth.
Key HVAC market players are Johnson Controls International PLC, Samsung Electronics Co., Ltd., Lennox International Inc., Ingersoll-Rand plc, United Technologies Co., Daikin Industries Ltd., Mitsubishi Electric Co. and others.
Based on type, the HVAC market is segmented into Heat Pumps, Furnaces, Boilers and Unitary Heaters.
The HVAC analysis market has been assessed for the years 2023 to 2032.
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