Press release
Global HVAC Equipment Market foreseen to grow exponentially by USD 278.75 Billion over 2028
The Global HVAC Equipment Market Was Valued At USD 181.75 Billion In 2021 And Is Expected To Reach USD 278.75 Billion By The Year 2028, At A CAGR Of 6.3%.
HVAC, which stands for Heating, Ventilation, and Air Conditioning, is a widely used term referring to a system of devices designed to cool or heat air from an outdoor environment to an indoor area. This system is utilized in residential, commercial, and sometimes industrial settings to regulate and maintain the desired air temperature. The primary function of an HVAC system is to create a comfortable indoor environment by keeping it warm and cozy during the winter and cool during the summer. In addition to temperature control, the system incorporates filters to remove impurities and ensure clean and healthy indoor air quality. HVAC systems also play a role in regulating humidity levels, creating a more comfortable and pleasant atmosphere for occupants.
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Market Dynamics:
Driver:
Ventilation is a crucial component of HVAC systems and plays a significant role in driving the growth of the HVAC equipment market. It involves the process of bringing fresh air from the outside into an enclosed space to ensure proper air circulation and maintain a breathable environment. There are two main types of ventilation, natural ventilation, and mechanical ventilation. Natural ventilation relies on openings such as windows, doors, and vents to allow the exchange of indoor and outdoor air.
Opportunities:
The growth and development of residential and commercial properties present a significant opportunity for the HVAC industry. The construction industry is experiencing significant growth globally, with the construction of new residential and commercial properties on the rise. As these properties are built or renovated, the installation of HVAC systems becomes essential to provide comfortable indoor environments for residents, employees, and customers. The demand for HVAC equipment and solutions is directly linked to construction activities in the residential and commercial sectors.
The Report Will Include A Major Chapter
• Patent Analysis
• Regulatory Framework
• Technology Roadmap
• BCG Matrix
• Heat Map Analysis
• Price Trend Analysis
• Investment Analysis
• Company Profiling and Competitive Positioning
• Industry Value Chain Analysis
• Market Dynamics and Factors
• Porter's Five Forces Analysis
• Pestle Analysis
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Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years.
Market Segmentation
By System Type
• Heating & cooling split systems
• Hybrid split system
• Duct free
• Others
By End User
• Residential
• Commercial
• Industrial
Regional Analysis Of HVAC Equipment Market
North America is expected to dominate HVAC equipment market during the forecast period. North America is the developed region, the use of HVAC Equipment is in various areas like residential properties, commercial buildings, and the industrial sector. The countries like the USA, Mexico, and Canada have lots of commercial and residential properties, which is the main factor that boosts the growth of the HVAC Equipment Market. The population is high in the North America region so the consumer rate is also high for this product in this region. 80% of the people are uses HVAC systems in their houses; due to all this the demand for the HVAC Equipment is increased boosting the HVAC equipment market in North America region in the forecast period.
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)
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Top Key Players Covered In HVAC Equipment Market
Carrier Corporation (US)
Goodman Manufacturing Company L.P. (US)
Rheem Manufacturing Company (US)
Daikin Industries Ltd (Japan)
Emerson Electric Co (US)
HitachiLtd. (Japan)
Johnson Controls International (Ireland)
Lennox International Inc. (US)
Trane Technologies (US)
York (US)
American standard (US)
Daikin (Japan)
Ingersoll Rand (US)
LG Electronics (South Korea)
United Technologies (US)
Electrolux (Sweden)
Lennox (US)
Nortek (US) and Other Major Players.
Key Industry Development In The HVAC Equipment Market
In May 2022, Modine Company made a partnership with Global Plasma Solutions, Modine works in commercial HVAC solutions; their partnership offers a state-of-the-art GPS' patented needlepoint bi-polar ionization technology, which is used for school products, to maintain the high indoor air quality in classrooms.
In May 2022, RLS Company works in HVAC launched a new training portal for online training purposes that help the contractor that works in HVAC and refrigeration to make easier, faster, and safer copper tube connections using the company's new product. RLS Company is a manufacturer of the first press-to-connect fittings in HVAC.
Table of content: -
Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By System Type
3.2 By End Users
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
4.5 Technological Roadmap
4.6 Regulatory Landscape
4.7 SWOT Analysis
4.8 Price Trend Analysis
4.9 Patent Analysis
4.10 Analysis of the Impact of Covid-19
4.10.1 Impact on the Overall Market
4.10.2 Impact on the Supply Chain
4.10.3 Impact on the Key Manufacturers
4.10.4 Impact on the Pricing
Chapter 5: HVAC Equipment Market by System Type
5.1 HVAC Equipment Market Overview Snapshot and Growth Engine
5.2 HVAC Equipment Market Overview
5.3 Heating & cooling split systems
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size (2016-2028F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Heating & cooling split systems: Grographic Segmentation
5.4 Hybrid split system
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size (2016-2028F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Hybrid split system: Grographic Segmentation
5.5 Duct free
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size (2016-2028F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Duct free: Grographic Segmentation
5.6 Others
5.6.1 Introduction and Market Overview
5.6.2 Historic and Forecasted Market Size (2016-2028F)
5.6.3 Key Market Trends, Growth Factors and Opportunities
5.6.4 Others: Grographic Segmentation
Chapter 6: HVAC Equipment Market by End Users
6.1 HVAC Equipment Market Overview Snapshot and Growth Engine
6.2 HVAC Equipment Market Overview
6.3 Residential
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size (2016-2028F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Residential: Grographic Segmentation
6.4 Commercial
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size (2016-2028F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 Commercial: Grographic Segmentation
6.5 Industrial
6.5.1 Introduction and Market Overview
6.5.2 Historic and Forecasted Market Size (2016-2028F)
6.5.3 Key Market Trends, Growth Factors and Opportunities
6.5.4 Industrial: Grographic Segmentation
Chapter 7: Company Profiles and Competitive Analysis
To be continue….
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