Global Heating, Ventilation and Air Conditioning Systems (HVAC) Market Report 2023: Market Segments, Size, Trend and Market Projections for Upcoming Years

The latest report on Heating, Ventilation and Air Conditioning Systems (HVAC) Market by Infinium Global Research gives complete coverage of the Heating, Ventilation and Air Conditioning Systems(HVAC) Market by application (Automotive, Commercial, industrial and residential), Equipment Type(Heating, Ventilation, Cooling), Implementation Type (New Construction, and Retrofit Building), and Software & Service (Software and Service) in terms of key trends, market size, forecast and CAGR growth over the period of 2017 to 2023. In addition, the study covers deep dive into key product and applications trends in the regional markets of Heating, Ventilation and Air Conditioning Systems (HVAC) such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.

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Heating, ventilation and air conditioning systems are mechanical systems which impart thermal comfort as well as quality air in a particular indoor space. HVAC systems control the environmental conditions in the working space by cooling or cooling. HVAC systems filter air, controls moisture and temperature as per predetermined requirements. HVAC systems remove airborne contaminants, improve the odor and infuse fresh air into the space. Boilers, centralized air conditioners, chillers, coolers, cooling towers, furnaces, heat pumps, packaged systems, rooftop units, unitary air-conditioners and unitary heaters are some of the major HVAC systems used for commercial, residential, and industrial purposes. Forced air and radiant are two major types of heating systems with furnace or heat pump as sources for heat. Ventilation is a process by which outdoor air is brought into the building and circulated and exhausted to the atmosphere by natural or mechanical means. Meanwhile, air conditioner dehumidifies and cools the air while it passes through cold coil surfaces. Heat exchangers are now widely used as part of HVAC systems for heat recovery and thereby improving the energy efficiency, with significant reduction in energy consumption. Modern HVAC systems include software systems for scheduling, setting predetermined conditions, managing and monitoring the functioning of the equipment.

Global warming induced change in climate in various regions drive the demand for HVAC systems, as the extreme weather conditions affect the human comfort and productivity. Technological advancements are anticipated to drive the growth of the global HVAC market, as new applications emerge in commercial, industrial and residential sectors. The preference for smart homes among customers who look for energy efficient homes is expected to drive the growth of the HVAC systems during the forecast period. Tax credit programs and regulations aimed at promoting energy efficient systems are expected to enhance the demand for HVAC systems. Globally, increasing investments in the construction sector such as real estate and infrastructure is expected to generate demand for HVAC systems, as the buildings require modern energy efficient solutions for heating, ventilation and air-conditioning. The stability in the automobile industry is expected to drive the demand for HVAC systems, as customers prefer to have air-conditioning or heating systems in their vehicles, depending upon the local weather conditions. Increasing demand for up gradation or refurbishment of the old ones with energy efficient HVAC systems for meeting new regulations and standards are expected to enhance the growth of the global HVAC systems market. Cooling equipment segment dominate the global HVAC systems market, as there is more demand for air-conditioning and other cooling applications.   Condensing boilers segment is anticipated to witness significant growth during the forecast period 2017-2023, as they are far more energy efficient and cause less emissions.

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Global HVAC Systems Market Analysis, by Application
• Automotive
• Commercial
• Industrial
• Residential

Global HVAC Systems Market Analysis, by Equipment Type
• Heating
a) Boiler
b) Furnace
c) Heat Pump
d) Unitary Heater
e) Others
• Ventilation
a) Air Filter
b) Air Purifier
c) Dehumidifier
d) Humidifier
e) Ventilation Fan
f) Others
• Cooling
a) Cooler
b) Cooling Tower
c) Chiller
d) Room Air-Conditioner
e) Unitary Air-Conditioner

Global HVAC Systems Market Analysis, by Implementation Type
• New Construction
• Retrofit Building
• Others

Global HVAC Systems Market Analysis, by Software & Service
• Software
a) Heat Load Calculation Software
b) Design Software
c) Scheduling Software
d) Service Software
e) Others
• Service
a) Installation
b) Maintenance & Repair

Companies Profiled

The companies covered in the report include manufacturers of global HVAC systems market include Daikin Industries Ltd, Electrolux AB, Johnson Controls Inc, Ingersoll-Rand Plc, LG Electronics, Lennox International, Mitsubishi Electric, Nortek Inc, Qingdao Haier Co. Ltd, Samsung Electronics, United Technologies Corporation and Whirlpool Corporation.

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