A recent report published by Infinium Global Research on HVAC equipment market provides an in-depth analysis of segments and sub-segments in the global as well as regional HVAC equipment market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional HVAC equipment market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global HVAC equipment market. According to the report, the global HVAC equipment market is projected to grow at a CAGR of 5.5% over the forecast period of 2018-2024.
Heating, ventilation, and air conditioning equipment is to maintain a comfortable environment through adequate ventilation with filtration and provide thermal comfort. HVAC equipment removes airborne pollutants, improve the odor and infuse fresh air into space. Fans/blowers, furnace/heating the unit, filters, compressor, condensing units, humidifiers, heat exchangers, chillers, evaporator (cooling coil), control System, air distribution system are some HVAC equipment used for commercial, residential and industrial purpose.
The growing demand for energy-efficient technologies in commercial and industrial infrastructure is a major factor driving demand for HVAC equipment market. Furthermore, a number of new households, rapidly increasing construction activities in developing countries and growth in disposable income are some factors contributes to the growth of the same. Moreover, changes in the atmospheric conditions in various regions augments the demand for HVAC equipment’s, as the extreme weather conditions affect human comfort. The preference for smart homes among consumers who look for energy efficient homes has a positive impact on the growth of the HVAC equipment’s market. However, the higher energy consumption of HVAC equipment may hamper the growth of HVAC equipment market. Going further, a number of key players are focusing on making energy-efficient HVAC equipment will help in meeting the needs of environmental sustainability. Which in turns, creates growth opportunities for the global HVAC equipment market in coming years.
Geographically, the global HVAC equipment’s market is segmented into North America, Europe, The Asia Pacific and RoW. North America holds the maximum share in the HVAC equipment market followed by Europe. Expanding demand for HVAC efficient system and increasing preference for smart devices with advanced features are some factors responsible for the growth of the market. Additionally, a number of key players in the North America region are expanding their focus on manufacturing HVAC equipment’s which provide ease of use, are more energy efficient. The North America and Europe region are expected to grow with the close rate with Europe slightly lagging behind. On the other hand, Asia Pacific is projected to expand with highest CAGR in HVAC equipment market during the forecast period owing to the high growth rate of urbanization, along with growth in disposable income. Additionally, China, Japan, and India are leading countries in HVAC equipment market. furthermore, increased demand for HVAC equipment in hotels, medium to large industrial and office buildings, hospitals, vehicles, cars, trains, airplanes, ships, and submarines, also augment the growth of Asia Pacific region.
The report on global HVAC equipment market covers segments such as type and end-user. On the basis of type, the sub-markets include heating equipment, ventilation equipment, air conditioning equipment, and chiller. On the basis of end-user, the sub-markets include commercial, residential, industrial, and others.
The report provides profiles of the companies in the market such as United Technologies Corporation (Carrier), Haier Inc., Samsung Electronics, Lennox International Inc., Daikin Industries. Ltd., Emerson Electric Company, Electrolux AB, LG Corporation, Panasonic Corporation, Danfoss A/S, and Carrier Corporation.
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 equipment market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. 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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