Overview:

The global HVAC equipment market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. HVAC stands for heating, ventilation, and air conditioning. The heating systems, ventilation systems, and air conditioning systems are together referred as HVAC equipment or HVAC systems. There are four basic types of HVAC system viz. hybrid systems, split systems, duct-free systems, and packaged heating and air systems.

The HVAC systems are classified as central and local HVAC equipment. The central HVAC system is located at different location or away from building and deliver the conditioned air through delivery ductwork system. However, the local HVAC system is located near or inside the conditioned place and do not requires any delivery ductwork system to pass the conditioned air.

Market Dynamics:

Rapid urbanization in emerging economies is resulting in increased construction and reconstruction activities, which is a key factor driving growth of the global HVAC equipment market. Also, consumers approach towards adoption of advanced technology to get comfort at home and commercial places is a major factor expected to drive growth of the global HVAC Equipment market over the forecast period.

In addition, growing government initiatives for development of smart infrastructure, increasing commercial and industrial construction is expected to result in growth of advanced HVAC systems in the near future. Rapid technological advancements, rising demand for automated control systems, and innovative product offerings with advanced features are other key factors supporting growth of the global market.

However, factors such as high cost associated to installation and maintenance of HVAC systems and high energy consumption are expected to hamper growth of the global HVAC equipment market to a certain extent. In addition, lack of skilled workforce and low awareness related to benefits of HVAC system in developing economies are other factors expected to challenge the market growth.

Key Trends:

Major players focus on strategic merger and acquisition in order to increase the market presence is a key trend observed in the global HVAC equipment market. For example, in December 2019, Watsco Inc. has acquired N&S Supply, a distributor of heating, air conditioning, and plumbing products. This acquisition is expected to help the company to enhance the supply chain in the US.

Regional Analysis:

For detailed understanding of market dynamics, the global market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America HVAC equipment market is expected to hold significant revenue share in the global market. This is owing to high adoption of HVAC system in the commercial and residential sector. In addition, presence of major players in countries and growing demand for advanced HVAC systems are other factors expected to further support growth of the target market. However, the target market in Europe and Asia Pacific region is expected to witness significant growth over the forecast period.

Scope of the Report:

Detailed Segmentation:

Global HVAC Equipment Market, By Equipment Type:

• Cooling Equipment
• Heating Equipment
• Air Delivery Equipment

Global HVAC Equipment Market, By End User:

• Commercial
• Industrial
• Residential

Key Players Covered:

Key players operating in the global market include, Daikin Industries Ltd., Haier Inc., Samsung Electronics, LG Corporation, Emerson Electric Company, Carrier Corporation, Danfoss AS, Panasonic Corporation, Lennox International Inc., and Electrolux AB.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global HVAC Equipment Market by equipment type, end user, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global HVAC equipment market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.