HVAC Market - Trends, Share and Growth & Forecast upto 2025
HVAC is short for heating, ventilation, and air conditioning, and players in the global HVAC market are concerned with the development, innovation, manufacturing, and distribution of these systems and equipment. HVAC in computing is the control of the environment that an enterprise or a data center is operating in. It involves changing the ambient temperature, humidity, and other factors to better suit the optimal performance of the venue. There can be a high level of planning and operations involved in the HVAC management for larger structures, especially ones that comprise data centers, power systems, security and safety equipment, complex cabling, and computing hardware. This also means that HVAC management planning and implementation can take place alongside the construction of a project, and therefore needs a separate HVAC contractor to be hired.
Every single physical electronic device today can operate within specific ranges of temperature, pressure, and moisture and humidity, and exceeding those limits can severely hamper the operating capacity or quality of the piece of hardware. These ranges are usually mentioned on the device itself which is data that can be used during HVAC planning. The devices themselves are also prone to emit large amounts of heat during peak operating hours and therefore need external aid to manage their temperature. One example of HVAC planning in a structure can be the construction of a plenum, a part of a structure that only houses the air circulation systems in HVAC as well as the cabling.
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Global HVAC Motors Market: Overview
Heating, ventilation, and air conditioning (HVAC) is the technology that helps to control temperature, humidity, and quality of air in indoor and vehicular environment. HVAC systems find application in office and industrial buildings to efficiently manage the costs of cooling and heating, particularly when the assembly is large and requires various temperature zones across the building.
The global HVAC market can be segmented based on different parameters. By type, for example, it can be divided into condenser fan motors, chiller/cooling tower motors, fan and blower motors, and shaft grounding motors. Depending upon application, it can be segmented into air conditioner, air handler, unitary, heat pump, furnace, WSHP, ventilator, and fan powered terminal unit.
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A report by TMR Research presents a comprehensive evaluation of the market. It furnishes in-depth qualitative insights and leverages historical data to make projections about market size. It provides a granular analysis of the various factors promoting or hindering the market’s growth. By doing so, the research report serves as a repository of analysis and information for every facet of the market. The report also lists leading players in the market and leverages popular analytical tools to gauge the current competitive dynamics.
Global HVAC Market: Drivers and Trends
At the forefront of driving growth in the global HVAC market is the favorable policy support such as government incentives through tax credit programs and various rules pertaining to energy saving. Other factors propelling the market is the burgeoning construction and infrastructure activities and the increasing shift towards smart homes. In fact, commercial buildings have been frontrunners in adopting heating, ventilation, and air conditioning (HVAC) technologies. This has led to higher manufacture of HVAC motors in the region. In the upcoming years, the residential market will outshine the nonresidential market in terms of demand.
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In the years ahead, the growth in the global HVAC market will be furthered by the intelligent technology that will result in the unveiling of cutting-edge monitoring systems. Monitoring systems aid in monitoring the energy consumption of a building while intelligent technology helps to control the energy output of a HVAC system. For example, fans used in the heating system of computing systems get switched on only after a certain temperature is reached in the computing system, making it energy efficient. The combination of Internet of things (IoT) and heating, ventilation, and air conditioning (HVAC) systems is also creating opportunities in the market. The commercial building sector will likely take-up this technology, as this integration would augment the efficiency and reliability of the building automation system (BAS).
Global HVAC Market: Regional Outlook
Based on geography, the key segments of the global heating, ventilation, air conditioning (HVAC) market are Europe, North America, Asia Pacific, and the Rest of the World. Among them, North America, powered by the U.S., is the leading market. This is mainly because of the stellar growth in the U.S. so far, which is forecasted to continue in the near future too.
Companies Mentioned in Report
The heating, ventilation, and air conditioning (HVAC) system ecosystem is comprised of software providers, system integrators, component providers, OEMs, and distributors. To present a detailed assessment of the competition prevailing in the global HAVC market, the report profiles important companies such as Daikin Industries Ltd., Ingersoll Rand, Panasonic Corporation, Samsung Electronics, Johnson Controls, and United Technologies Corporation (Carrier).
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