Global Heating, Ventilation and Air Conditioning (HVAC) Market: Industry Analysis & Outlook
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1 Industry Research by Koncept Analytics Global Heating, Ventilation and Air Conditioning (HVAC) Market: Industry Analysis & Outlook June
2 Executive Summary Heating, Ventilation and Air Conditioning (HVAC), is a technological system, which is used to provide cooling and heating facilities to the building. Heating appliances like heater, furnace and heat pumps, are used to generate heat in buildings via central heating or local heating. Ventilation appliances are used to change or replace air in any building to regulate temperature. And air conditioning appliances are used in cooling of indoor air for thermal comfort. HVAC equipment is classified into two categories residential and commercial. Residential HVAC equipment is further sub-classified into ductless and unitary, while, the commercial HVAC equipment is sub-classified into ductless, unitary and applied. Main components of an HVAC are compressor, motor, duct board, coils, control, copper tubing and refrigerants. Asia Pacific emerged as a major region for the HVAC market due to rising HVAC equipment and aftermarket & system sales by the domestic companies and high HVAC replacement rate prevailing in China, India, Australia and Korea. The global HVAC market is expected to grow with rising global population, accumulative construction activities, growing home automation market, intensifying annual mean temperature, accelerating economic growth and mounting e-commerce retail sales. Key trends and developments of this market includes growing smart thermostat market, high demand for invertor air conditioner (AC) in China, rising HVAC replacements in the U.S., technological innovations and developments and adoption of sustainable building designs. However, there are some factors which can hinder growth of the market including raw materials prices, stringent regulations, data infrastructure system security, retail consolidations and economic and political events. The report ( ) by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. The report discusses the major growth drivers, key tends & developments and challenges of the market, covering Asia Pacific, the Americas along with the global market. The report profiles the key players of the market including United Technologies Corporation (Carrier), Johnson Control International Plc; (York), Daikin Industries, Ltd. and Ingersoll-Rand Plc (Trane). 2
3 US$ Billion Growth of the global HVAC market would be supported by accumulative construction activities, growing home automation market Global HVAC Market Forecast by Value ( ) The global HVAC market is expected to reach US$ billion in the year 2022, increasing from US$ billion in the year 2017 at a CAGR of..%, for the period spanning The equipment segment held the..% market share, followed by the aftermarket & service segment with..% share in the year In the year 2017, the largest share of the global HVAC market value was held by Asia Pacific with.% share, followed the Americas with..% share. Global HVAC Market Value by Type (2017) Global HVAC Market Value by Region (2017) Equipment Aftermarket & Services Asia Pacific The Americas RoW 3
4 Growth in major regional markets such as Asia Pacific, the Americas would be supported by high demand for invertor air conditioner (AC) in China, rising HVAC replacements in the U.S.. US$ Billion US$ Billion Asia Pacific HVAC Market Forecast by Value ( ) Asia Pacific HAVC market is anticipated to reach US$.. billion in the year 2022, increasing from US$.. billion in the year 2017, at a CAGR of..% for the period spanning In Asia Pacific, the equipment emerged as a major revenue contributing segment with..% share, followed by aftermarket & service segment with..% share. In the year 2022, the Americas HVAC market is expected to reach US$.. billion, increasing from US$.. billion in the year 2017, at a CAGR of..%, for the period spanning Asia Pacific HVAC Market Value by Type (2017) The Americas HVAC Market Forecast by Value ( ) Equipment Aftermarket & Services 4
5 Contact Us: Disclaimer This is a licensed product of Koncept Analytics. You cannot reproduce, publish, distribute, publicly display, sell or create other works from this report or use them in any way for commercial purpose without our prior permission. Further, you cannot copy this material, by any means (including electronic copies), for distribution to others unless you have purchased the corporate license of this report. We believe the sources are reliable, but Koncept Analytics does not warranty the accuracy or completeness of the data. The data presented in the report is updated at the publication date but is subject to change at subsequent releases. All possible efforts have been made to ensure accuracy of data. However, investors should not completely rely on the information given in this report and must make decisions based on their own investment strategy, risk management and capital adequacy. Koncept Analytics CS-36, First Floor, Ansal Plaza Vaishali, Ghaziabad, U.P T: M: vikas@konceptanalytics.com 5
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