A recent report published by Infinium Global Research on HVAC systems market provides in-depth analysis of segments and sub-segments in the global as well as regional HVAC systems market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional HVAC systems market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global HVAC systems market. According to the report, the global HVAC systems market is projected to grow at a CAGR of 6.25% over the forecast period of 2019-2025.
Heating, Ventilation and Air Conditioning systems are mechanical systems that impart thermal comfort as well as quality air in a particular indoor space. HVAC systems filter air controls moisture and temperature as per predetermined requirements. HVAC systems improve the odor and infuse fresh air into space. Boilers, centralized air conditioners, chillers, coolers, cooling towers, furnaces, heat pumps, packaged systems, rooftop units, unitary air-conditioners, and unitary heaters are some of the major HVAC systems used for commercial, residential, and industrial purposes. Heat exchangers are now widely used as part of HVAC systems for heat recovery.
Global warming encourages change in climate in various regions to drive the demand for HVAC systems, as extreme weather conditions affect human comfort and productivity. Technological advancements are anticipated to drive the growth of the HVAC systems market, as new applications emerge in commercial, industrial and residential sectors. Tax credit programs and regulations aimed at promoting energy efficient systems are expected to enhance the demand for HVAC systems. The stability in the automobile industry is expected to drive the demand for HVAC systems, as customers prefer to have air-conditioning or heating systems in their vehicles, depending upon the local weather conditions. Besides, higher energy consumption by HVAC systems is a major restraint for the HVAC systems market, as it makes unaffordable to many consumers. Moreover, the countries with extreme weather conditions are expected to provide growth opportunities for the HVAC system in the upcoming years.
As per the geographies, North America dominated the growth for the HVAC systems market, followed by Europe. Asia-Pacific is anticipated to become the fastest growing and largest HVAC systems market during the forecast period. The adoption of new technologies, new regulations that demand the adoption of energy efficient HVAC systems and the need for renewing or upgrading the existing HVAC systems are the major factors that drive the growth of the North American HVAC systems market. The incentive programs for replacing old HVAC systems in countries such as France, Germany, and the UK are driving the growth of the European HVAC systems market. Presence of huge population, changing lifestyles, favorable government regulations and programs that promote adoption of HVAC systems boost the demand for HVAC system in Asia Pacific region.
The report on global HVAC systems market covers segments such as implementation type, equipment type, components, and application. On the basis of implementation type, the sub-markets include new construction, and retrofit building. On the basis of equipment type, the sub-markets include heating, ventilation, and cooling. On the basis of components, the sub-markets include services, and software. On the basis of application, the sub-markets include commercial, automotive, residential, and industrial.
The report provides profiles of the companies in the market such as Daikin Industries, Ltd., Electrolux AB, Johnson Controls International plc, Ingersoll-Rand plc, Lennox International Inc., Mitsubishi Electric Corporation, Nortek, Inc., Qingdao Haier Co., Ltd., Samsung Electronics Co., Ltd., United Technologies Corporation, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of HVAC systems market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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