May 24, 2022

HVAC Equipment Market size to increase by USD 41.82 Bn | APAC to occupy 53% market share

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The increasing residential and commercial construction activities will be crucial in driving the growth of the market. In addition, the cost advantages associated with renting HVAC equipment and the increase in demand for centralized HVAC systems will positively influence the growth of the global HVAC equipment market during the forecast period.

HVAC Equipment Market: Segment Highlights

  • By product, the market is segmented by ventilation equipment, heating equipment, and air conditioning equipment.
  • The ventilation equipment segment currently generates the largest revenue in the market.
  • The increase in pollution levels has been driving the growth of the ventilation equipment segment. The market growth in the segment will be significant during the forecast period.
  • Similarly, by end-users, the market is segmented into Non-residential and Residential. The market will have maximum share in the non-residential segment and the segment will continue to offer several growth opportunities.

Regional Analysis

  • 53% of the market growth will originate from the APAC region.
  • The growth of the public sector and the increasing number of private enterprises in countries such as China and India is driving the growth of the HVAC equipment market in APAC.
  • Also, the expansion of production plants by food and beverage manufacturers will contribute to the growth of the regional market.
  • China and Japan are the key markets for HVAC equipment in APAC.
  • The market growth in APAC will be faster than the growth of the market in other regions.
  • The US, Germany, and the UK will emerge as major markets for HVAC equipment during the forecast period.

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Notes:

  • The HVAC equipment market size is expected to accelerate at a CAGR of  6.15% during the forecast period.
  • The HVAC equipment market is segmented product (ventilation equipment, heating equipment, and air conditioning equipment), end-user (non-residential and residential), and geography (APAC, Europe, North America, MEA, and South America).
  • The market is fragmented due to the presence of a substantial number of international and regional vendors of HVAC equipment. The vendors in the market are focusing on providing energy-efficient equipment and technologically advanced systems to meet customer demands.
  • The research report offers information on several market vendors, including Daikin Industries Ltd., Fujitsu Ltd., Haier Smart Home Co. Ltd., Ingersoll Rand Inc, Johnson Controls International Plc, LG Electronics Inc., MIDEA GROUP, Nortek Inc., Robert Bosch GmbH, and Samsung Electronics Co. Ltd.

Related Reports:

Global Residential HVAC Market 2021-2025: The global residential HVAC market is segmented by product (air conditioning system, heating system, and ventilation system) and geography (APAC, Europe, North America, MEA, and South America).
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Global Industrial HVAC Market 2021-2025: The global industrial HVAC market is segmented by end-user (process industry and discrete industry) and geography (APAC, Europe, North America, South America, and MEA).
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HVAC Equipment Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 6.15%

Market growth 2021-2025

USD 41.82 billion

Market structure

Fragmented

YoY growth (%)

2.89

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 53%

Key consumer countries

China, US, Japan, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Daikin Industries Ltd., Fujitsu Ltd., Haier Smart Home Co. Ltd., Ingersoll Rand Inc, Johnson Controls International Plc, LG Electronics Inc., MIDEA GROUP, Nortek Inc., Robert Bosch GmbH, and Samsung Electronics Co. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 – 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Air conditioning equipment – Market size and forecast 2020-2025
  • Heating equipment – Market size and forecast 2020-2025
  • Ventilation equipment – Market size and forecast 2020-2025
  • Market opportunity by Product

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • Non-residential – Market size and forecast 2020-2025
  • Residential – Market size and forecast 2020-2025
  • Market opportunity by End-user

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC – Market size and forecast 2020-2025
  • Europe – Market size and forecast 2020-2025
  • North America – Market size and forecast 2020-2025
  • MEA – Market size and forecast 2020-2025
  • South America – Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Daikin Industries Ltd.
  • Fujitsu Ltd.
  • Haier Smart Home Co. Ltd.
  • Ingersoll Rand Inc
  • Johnson Controls International Plc
  • LG Electronics Inc.
  • MIDEA GROUP
  • Nortek Inc.
  • Robert Bosch GmbH
  • Samsung Electronics Co. Ltd.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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