HVAC (Heating, Ventilation, and Air Conditioning) Equipment Market Share, Size, Trends, Key Players, Demand, Revenue, Regional Analysis Forecast Till – 2028 – Stillwater Current
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The booming construction activity in individual emerging economies and thus the increasing end-user markets just like the data center market are key factors driving the growth of the HVAC equipment market over the forecast period. some of the benefits of using HVAC equipment include energy efficiency, improved results and longevity.
Changes in urbanization, industrialization and migration are some of the critical factors influencing the expansion of the market; this has led to the number of factories, production units and residential complexes using HVAC equipment. according to the Population Reference Bureau, the global urbanization rate in 2019 was about 54%. consistent with the source, North America, with 82% of the population living in cities, was the most important urbanized continent in the world.
A survey by AHR Expo and ASHRAE Journal found that nearly 88% of respondents within the HVAC industry witness a “good” or “excellent” business year in 2019. 43% of these respondents expect 5-10% growth ahead of them. or her business, and 23.5% expect growth of more than 10%.
In addition, at the 2019 AHR Expo in Atlanta, Samsung HVAC North America announced the expansion strategy of its residential and commercial air conditioning market in the region by building, training and supporting a large number of dedicated representatives, distributors and installers. the expansion in residential construction, and with it the increase in income in developing countries, has increased the need for HVAC equipment for a wider consumer base. According to the Bureau of Labor Statistics, development industry activity in the US is projected to reach nearly $1.58 trillion by 2028.
According to a report by the US National Academy of Sciences (NAS), the first decade of the 21st century was 0.8 °C (1.4 °F) warmer than the first decade of the 20th century. The variation in climate change has led to an increasing demand for electric cooling systems in summer and at the same time for gas, fuel oil, wood and electric heating systems in winter. In addition, global climate change harms energy consumption in buildings and affects air-conditioning loads, which vary according to ambient temperature and humidity. With the advent of the latest government regulations, such as in the US, the energy efficiency of HVAC systems is predicted to increase. This has opened a gateway to the smart HVAC control systems for many advanced heating and air-conditioning units in buildings.
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Scope of the report
HVAC equipment is an indoor and vehicular comfort technology concerned with providing thermal comfort and appropriate indoor air quality. it is a critical component present in various residential structures, including single-family homes, apartment buildings, hotels and senior housing, medium to large industrial and office buildings, such as skyscrapers and hospitals, vehicles, such as cars, trains, airplanes, ships and submarines, and in marine environments , where safe and healthy building conditions are regulated, with regard to temperature and humidity, using fresh air from outside.
The study tracks key market parameters, underlying growth influencers and major vendors operating within the industry that support market estimates and growth rates over the forecast period.
channel functions are covered in the report.
Middle East and Africa
Main product type:
Heating equipment (heat pumps, furnaces, unit heaters, boilers)
Air conditioning equipment (room air conditioners, unit air conditioners, coolers and others)
Ventilation equipment (ventilation fans/air pumps, humidifiers/dehumidifiers)
Market by Application
Key aspects covered in the report
Overview of the HVAC (Heating, Ventilation, and Air Conditioning) Equipment market including production, consumption, status and forecast and market growth
Geographical analysis including major countries
Overview of the product type market including development
Overview of the end-user market including development
The market for HVAC equipment is quite competitive and consists of major players. In terms of market share, a few prominent players currently dominate the market. The players, with a leading share of the market, are focusing on expanding their customer base across other geographic locations. Daikin Industries Ltd., Johnson Controls – Hitachi Air Conditioning Company and Honeywell International, Inc. were some of the leading players operating in the HVAC market worldwide. Furthermore, a significant part of the companies started to offer HVAC systems with higher energy efficiency and green technology compatible with various smart devices.
Key players covered in this study
- Carrier Corporation
- Daikin Industries, Ltd.
- Emerson Electric Co.
- Hitachi Ltd.
- Johnson Controls International plc
- Lennox International, Inc.
- Trane Technologies
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Table of contents:
1 report overview
2 global growth trends
3 Competition landscape by protagonist
4 Market size by type (2015-2026)
5 Market Size by Application (2015-2026)
13 Main Player Profiles
14 analyst views/conclusions
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Important Questions Answered in the HVAC Equipment Market Report:
- The HVAC (Heating, Ventilation, and Air Conditioning) Equipment market analysis report provides an in-depth study of the potential opportunities and challenges for market growth.
- The report dives deeper into the market and explains the dynamic factors supporting the market growth.
- The report in-depth evaluates the current, historical market size, market share and revenue growth rates to provide accurate market forecasts for the forecast period.
- The report analyzes the presence of the HVAC (heating, ventilation and air conditioning) equipment in major regions of the world.
- It determines the production and consumption capacities and the supply and demand dynamics of each regional market.
- The report further illustrates the intense competition among the major market players and highlights their effective business expansion plans and strategies.
- It provides a company overview and SWOT analysis of each of the market players.
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