Press release
HVAC Equipment Market 2022 Growth Outlook - Daikin Industries, Ltd., Johnson Controls - Hitachi Air Conditioning Company, LG Electronics Inc
The HVAC Equipment Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.The HVAC Equipment market is expected to grow at a CAGR of 4.7% over the forecast period (2021-2026).
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Top Leading Companies of HVAC Equipment Market are Daikin Industries, Ltd., Johnson Controls - Hitachi Air Conditioning Company, LG Electronics Inc., Raytheon Technologies Corporation (United Technologies), Emerson Electric Co., Honeywell International, Inc., Mitsubishi Electric Trane HVAC US LLC, Nortek Global HVAC, Danfoss AS, Panasonic Corporation, Haier Inc., Midea Group, Whirlpool Corp and others.
Industry News and Updates
February 2020 - Honeywell announced one of the first autonomous building sustainability solutions which evaluate whether a building's HVAC system is running at peak efficiency. Honeywell Forge Energy Optimization is a cloud-based, machine learning solution that regularly studies patterns such as building's energy consumption and automatically adjusts them to optimal energy saving settings without compromising occupant comfort levels.
- January 2020 - LG Air Conditioning Technologies USA announced the installation of its HVAC technologies in The Ebell of Los Angeles, a performance art facility located in Los Angeles, and The Lido Hous, a high-end property located in California. The company said that its Variable Refrigerant Flow (VRF) technology and ducted and duct-free solutions make significant inroads in the United States where the demand for high-performance, flexible HVAC technology continues to grow.
Key Market Trends
North America is Expected to Hold Significant Share
- The HVAC industry is expected to move towards smart technologies in North America, as the region is witnessing a massive level of IoT connections. The U.S. Energy Information Administration's (EIA) Residential Energy Consumption Survey (RECS) provided an estimation that 76 million occupied U.S. homes (64% of the total) engage in the usage of central air-conditioning equipment. About 13 million households (11%) use heat pumps for heating or cooling. By 2023, all the residential central air-conditioning and air-source heat pump systems sold in the United States will be required to meet the latest energy efficiency standards which are expected to fuel the growth of the HVAC equipment in the region.
- According to the U.S. Census Bureau, the value of construction starts in the United States is estimated to reach USD 135 billion in 2022. Additionally, according to a new forecast from the American Institute of Architect, construction spending is expected to grow through 2019. Based on short-term projections, the U.S. non-residential construction market is anticipated to rise to 2.4% in 2020 compared to the previous year. Hence such growth in construction in the region is expected to create opportunities for HVAC equipment across residential, commercial, and industrial applications.
Regional Outlook of HVAC Equipment Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The HVAC Equipment Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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