HVAC Equipment Market Size, Top Manufacturers, Trends, Demand, Forecast 2023-2028

The latest research study "HVAC Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" by IMARC Group, finds that the global HVAC equipment market size reached US$ 209.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 292.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.

Heating, ventilation, and air conditioning (HVAC) equipment ensures optimal indoor air quality and temperature control in various commercial and industrial settings. It comprises a range of devices, including heaters, air conditioners (ACs), ventilation fans, and related components, designed to create a comfortable and safe indoor environment. It is essential for maintaining a conducive atmosphere and contributing significantly to the well-being of occupants. It can protect machinery and materials from extreme temperature, humidity, and corrosion and ensures their longevity and reliability. It allows individuals to customize indoor environments by enabling them to adjust temperature and airflow as per their comfort levels. It provides controlled ventilation by bringing in fresh outdoor air and expelling stale or polluted indoor air. It helps remove odors, allergens, and contaminants, and ensure that occupants have access to clean and healthy air. It reduces the risk of heat-related or cold-related illnesses. It prevents respiratory issues and allergies among occupants and focuses on maintaining a comfortable environment for occupants. It manages energy consumption within buildings and reduces utility costs for building owners while contributing to environmental sustainability by lowering carbon emissions. As it is beneficial in regulating climate control and preventing deterioration, mold growth, and other forms of damage, the demand for HVAC is rising around the world.

Request PDF Sample for more detailed market insights: https://www.imarcgroup.com/hvac-equipment-market/requestsample

HVAC Equipment Market Trends and Drivers:

Presently, the escalating demand for eco-friendly HVAC solutions, including those using low-global warming potential (GWP) refrigerants and sustainable materials, represents one of the significant factors strengthening the growth of the market. Apart from this, the increasing adoption of high-efficiency HVAC equipment to reduce energy consumption and environmental impact is bolstering the market growth. Additionally, there is a rise in the need for precise environmental control in hospitals and medical facilities. This, coupled with the increasing employment of HVAC systems to manage temperature and humidity in data centers, is offering lucrative growth opportunities to industry investors. In line with this, the growing demand for advanced HVAC systems with air purification and humidity control features, along with the rising awareness about the importance of indoor air quality and occupant comfort among people, is positively influencing the market. Moreover, the increasing adoption of smart HVAC equipment that can be remotely monitored and controlled and allow for precise temperature and humidity management, scheduling, and energy optimization, is contributing to the growth of the market. Besides this, the rising focus on creating a comfortable environment for people and enhancing the overall experience while promoting longer stays in shopping malls, hotels, and restaurants is supporting the market growth. In addition, technological innovations, such as variable refrigerant flow (VRF) systems and advanced sensors, for more efficient and responsive HVAC solutions are propelling the growth of the market. The growing demand for HVAC equipment due to the thriving construction industry is also offering a positive market outlook.

Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/hvac-equipment-market

Who are The Key Players Operating in The Global HVAC Equipment Industry:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Carrier Global Corporation
• Daikin Industries Ltd.
• Danfoss AS
• Emerson Electric Co.
• Honeywell International Inc.
• Johnson Controls International
• Lennox International Inc
• LG Electronics Inc.
• Mitsubishi Electric Corporation
• Panasonic Holdings Corporation
• Samsung Electronics Co. Ltd.
• Trane Technologies plc
• Whirlpool Corporation

HVAC Equipment Market Analysis and Segmentation:
The report has segmented the market on the basis of type, system type and end user.

Breakup by Type:

• Heating
• Air Conditioning
• Ventilation
• Others

Breakup by System Type:

• Central
o All-Air Systems
o All-Water Systems
o Air-Water Systems
o Water-Source Heat Pumps
o Heating and Cooling Panels
• Decentralized
o Local Heating Systems
o Local Cooling Systems
o Local Ventilation Systems
o Local Air-Conditioning Systems
o Split Systems

Breakup by End User:

• Residential
• Commercial
• Industrial

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Contact Us:

IMARC Services Private Limited.
30 N Gould St Ste R
Sheridan, WY 82801 USA - Wyoming
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.