HVAC Equipment Market: Global Size, Share, Trends, Growth and Forecast, 2022-2032

Industry Insights

Global heating, ventilation, and air conditioning (HVAC) equipment market witnessed a market value of USD XXXX million in 2020 and is estimated to reach USD XX million in 2032, registering a compound annual growth rate (CAGR) of XX% between 2022 and 2032. HVAC systems are used in different types of buildings such as industrial, commercial, residential and institutional buildings. HVAC systems are milestones of building mechanical systems that provide thermal comfort for occupants accompanied by indoor air quality.

Market Insights

Growth Drivers – HVAC Equipment Market

Rising Construction Activities

The global construction industry is flourishing, the development of new commercial buildings, residential apartments, government buildings are on rise, thus creating a huge demand for HVAC equipment. Robust gains in building construction spending, especially growth in improvement and repair expenditures as replacement demand are expected to augment the growth of global heating, ventilation, and air conditioning (HVAC) equipment market in previous years.

Technological Advancements

The continuous improvement in heating, ventilation, and air conditioning (HVAC) equipment and development of High-Performance HVAC systems are bolstering the adoption rate of HVAC equipment worldwide. Rapid urbanization and the emergence of energy-efficient heating and ventilation systems are the driving force for the growth of the HVAC equipment market. Furthermore, governments across the globe promote the use of energy-efficient Heating, Ventilation, and Air Conditioning (HVAC) units by offering incentives and rebate programs that are anticipated to bolster the growth in the near future. Also, the inference of Internet of Things technologies in the HVAC system is expected to bring ample growth opportunities for global HVAC equipment in the coming years.

Market Barriers

The market of HVAC equipment is facing several challenges such as the installation and maintenance cost, high-energy consumption, and others which are likely to leave an adverse impact on the growth of the market. Unfavorable climate conditions at different regional areas is another barrier that is limiting the growth of the global HVAC equipment market.

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Segmentation

The research offers a comprehensive analysis of HVAC Equipment market with respect to following sub-markets:

By Product Type

- Heating Equipment
       - Unitary Heaters
       - Furnaces
       - Boilers
       - Heat Pumps
- Ventilation Equipment
       - Air Purifiers
       - Air Filter
       - Ventilation Fans
       - Humidifiers
       - Air Handling Units
       - Others
- Cooling Equipment
       - Room Air Conditioners
       - Chillers
       - Coolers
       - Cooling Towers
       - Others

By End-User
- Residential
- Commercial
- Industrial

By Installation

- New Construction
- Retrofit

By Geography

- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)

Competitive Landscape

The report profiles various major market players such as:
- Daikin
- Ingersoll-Rand
- LG Electronics Inc.
- Johnson Controls
- United Technologies
- Electrolux
- Emerson
- Honeywell
- Lennox
- Nortek
- Other Prominent Players

Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, and recent news (acquisition, expansion, technology development, research & development expansion and other market activities).

The study also provides company’s positioning and market share in HVAC Equipment market.

Timeline Considered for Analysis:

• 2019- Base Year
• 2020 – Estimated Year
• 2020 to 2025 – Forecasted Year

Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis

Market Segmentation Analysis:

Industry report analyzes the global HVAC Equipment market by the following segments:
- Product Type
- End-User
- Installation

Geographic Market Analysis:

The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.

Key Questions Answered in the Global HVAC Equipment Industry Report

• What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
• Which region would have high demand for product in the upcoming years?
• What are the factors driving the growth of the market?
• Which sub-market will make the most significant contribution to the market?
• What are the market opportunities for existing and entry-level players?
• What are various long-term and short-term strategies adopted by the market players?