"HVAC systems market to exhibit high growth potential during the forecast period”
The HVAC systems market is expected to grow at a CAGR of 5.9% between 2016 and 2022 and reach USD 173.16 billion by 2022. The key driving factors for the growth of the HVAC systems market are government incentives through tax credit programs, increasing construction activities, and government regulations and policies for energy saving.
The growth of the heating equipment market is mainly driven by government financial incentive programs, low operating cost and high operating capacity, higher efficiency of equipment, and increasing demand in the residential market.
“APAC to be the leading and fastest-growing market for HVAC systems during the forecast period”
The growth of the HVAC systems market in APAC is attributed to the increase in industrialization and urbanization, increase in the disposable income of consumers, and change in climate conditions. Further, introduction of government programs for promoting energy savings has also helped the HVAC industry to grow in the region. Some of the regulations contributing to the growth of the region are Commercial Building Disclosure (CBD) Program (Australia), Energy Conservation Building Codes (India), LEED-INDIA, and Indian Society of Heating, Refrigerating, and Air-Conditioning Engineers (ISHRAE).
Break-up of the profiles of primary participants for the report has been given below:
- By Company Type: Tier 1 – 45%, Tier 2 – 40%, and Tier 3 – 15%
- By Designation: C–Level Executives – 25%, Directors– 35%, Others – 40%
- By Region: North America - 30%, Europe – 25%, APAC – 40%, RoW – 5%
The key players in the market include Daikin Industries Limited (Japan), Ingersoll Rand Plc. (Ireland), Johnson Controls, Inc. (U.S.), Nortek, Inc. (U.S.), United Technologies Corporation (U.S.), Electrolux AB (Sweden), Emerson Electric Co. (U.S.), Honeywell International Inc. (U.S.), Lennox International Inc. (U.S.), LG Electronics (South Korea), Mitsubishi Electric (Japan), Panasonic Corporation (Japan), Qingdao Haier Co. Ltd. (China), Samsung Electronics (South Korea), and Whirlpool Corporation (U.S.).
Reasons To Buy the report:
- Illustrative segmentation, analysis, and forecast for the market based on heating equipment, ventilation equipment, cooling equipment, implementation type, application, software and service, and geography has been conducted to give an overall view of the HVAC systems market.
- The Porter’s five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the HVAC systems market.
- The major drivers, restraints, opportunities, and challenges for the HVAC systems market have been detailed in this report.
- The report includes a detailed competitive landscape along with key players, in-depth analysis, and revenue of key players.