Dublin, Nov. 25, 2020 (GLOBE NEWSWIRE) -- The "HVAC Market Research Report: By Offering (Equipment, Services), End User (Commercial, Industrial, Residential) - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
With the increasing average temperature across the globe, the sales of heating, ventilation, and air conditioning (HVAC) systems are rising sharply. After all, it's quite difficult to get through a hot summer day nowadays without air-conditioners and other cooling systems. Moreover, with the rising urbanization in several countries, the demand for proper heating and ventilation equipment, especially among people living in apartment buildings, is growing rapidly. The thriving construction sector is another major factor fueling the sales of HVAC systems.
As per a report produced by PricewaterhouseCoopers (PwC), the total spending on infrastructural development and construction projects across the globe will rise to $15.5 trillion by 2030. Countries such as the U.S., China, the U.A.E., Qatar, and Saudi Arabia are witnessing soaring construction activities such as those pertaining to the building of shopping complexes, hotels, and skyscrapers, primarily because of upcoming events such as the FIFA World Cup 2022 and the Dubai Expo 2020 (which has been postponed till 2021).
The flourishing tourism industry is another reason behind the huge investments being made in the development of five-star hotels and luxury resorts and amusement parks in these countries. These structures and facilities, once completed, would require HVAC equipment and maintenance services, which would, in turn, propel the demand for HVAC systems and services in the future years. Furthermore, the governments of many countries are making huge investments in the replacement of old HVAC systems with new energy-efficient ones.
For example, the Ministry of Power in India started an initiative called 'Eco-Niwas Samhita 2018', which is an Energy Conservation Building Code for Residential Buildings (ECBC-R), in December 2018. The code applies to mixed-land-use buildings and residential structures built on an area of land equal to or greater than 500 square meters (?500 m2) and comprises minimum performance standards that limit the heat gain and loss. This initiative massively boosted the requirement for HVAC systems and services in the country.
Hence, with the growing usage of HVAC systems in industrial, residential, and commercial settings, the global HVAC market would exhibit huge expansion in the coming years. As a result, the value of the market would rise from $240.8 billion to $358.1 billion from 2019 to 2030. Furthermore, as per the estimates the publisher, a market research firm based in India, the market would progress at a CAGR of 4.8% between 2020 and 2030.
Industrial, commercial, and residential buildings are the main end users of HVAC systems. Out of these, the utilization of HVAC systems is currently being observed to be the highest in the commercial buildings across the world. This is because of the increasing usage of these equipment in offices, commercial buildings, and hotels. Moreover, the increasing construction of hotels, on account of the thriving hospitality sector, is also positively impacting the sales of HVAC systems around the world.
Globally, the Asia-Pacific (APAC) HVAC market is predicted to exhibit the highest growth rate in the coming years. This would be a result of the rapid economic progress of various regional countries, ballooning infrastructural development and construction activities, and growing urban population in the region. In addition to this, the rising disposable income and purchasing power of people in countries such as China and India is pushing up the sales of HVAC equipment in the region.
Hence, it is safe to say that the demand for HVAC systems and services would surge all over the world in the future years, mainly on account of the increasing construction activities, thriving tourism and hospitality industry, and the rising implementation of government programs in several countries for promoting the usage of HVAC equipment, especially in residential and commercial buildings.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 Offerings
4.1.1.1 Equipment
4.1.1.1.1 HVAC type
4.1.1.1.1.1 Heating
4.1.1.1.1.1.1 Furnaces
4.1.1.1.1.1.2 Heat pumps
4.1.1.1.1.1.3 Boilers
4.1.1.1.1.1.4 Unitary heaters
4.1.1.1.1.2 Ventilation
4.1.1.1.1.2.1 Humidifiers/dehumidifiers
4.1.1.1.1.2.2 Air cleaners
4.1.1.1.1.2.3 Ventilation fans
4.1.1.1.1.2.4 Air handling units and fan coil units
4.1.1.1.1.3 Cooling/Air conditioning
4.1.1.1.1.3.1 VRF
4.1.1.1.1.3.2 Ducted split/packaged unit
4.1.1.1.1.3.3 Split units
4.1.1.1.1.3.4 Chillers
4.1.1.1.1.3.5 Room ACs
4.1.1.1.2 By End user
4.1.1.1.2.1 Commercial
4.1.1.1.2.1.1 Offices and buildings
4.1.1.1.2.1.2 Supermarkets/hypermarkets
4.1.1.1.2.1.3 Government
4.1.1.1.2.1.4 Healthcare
4.1.1.1.2.1.5 Hospitality
4.1.1.1.2.1.6 Transportation
4.1.1.1.2.1.7 Others
4.1.1.1.2.2 Industrial
4.1.1.1.2.2.1 Oil and gas
4.1.1.1.2.2.2 Food and beverage
4.1.1.1.2.2.3 Automotive
4.1.1.1.2.2.4 Energy and utilities
4.1.1.1.2.2.5 Others
4.1.1.1.2.3 Residential
4.1.1.2 Services
4.1.1.2.1 Installation
4.1.1.2.2 Upgradation/replacement
4.1.1.2.3 Maintenance & repair
4.1.1.2.4 Consulting
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Increasing preference toward VRF technology
4.3.1.2 Growing preference toward smart HVAC systems
4.3.2 Drivers
4.3.2.1 Growing construction sector
4.3.2.2 Increasing government initiatives to support the growth of HVAC systems
4.3.2.3 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 High upfront cost
4.3.3.2 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Energy efficiency in HVAC systems
4.3.4.2 Growing opportunity from manufacturing industry
4.3.4.3 Growing demand for annual maintenance contract (AMC) services
4.4 Impact of COVID-19 on Global HVAC Market
4.4.1 Current scenario
4.4.2 COVID-19 scenario
4.4.3 Future scenario
4.5 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Offering
5.1.1 By Equipment
5.1.1.1 By HVAC type
5.1.1.1.1 Heating, by equipment type
5.1.1.1.2 Ventilation, by equipment type
5.1.1.1.3 Air Conditioning, by equipment type
5.1.1.2 By end user
5.1.1.2.1 Commercial, by category
5.1.1.2.2 Industrial, by Category
5.1.2 By Service
5.2 By Region
Chapter 6. North America Market Size and Forecast
6.1 By Offering
6.1.1 By Equipment
6.1.1.1 By HVAC type
6.1.1.1.1 Heating, by equipment type
6.1.1.1.2 Ventilation, by equipment type
6.1.1.1.3 Air Conditioning, by equipment type
6.1.1.2 By end user
6.1.1.2.1 Commercial, by category
6.1.1.2.2 Industrial, by Category
6.1.2 By Service
6.2 By Country
Chapter 7. Europe Market Size and Forecast
7.1 By Offering
7.1.1 By Equipment
7.1.1.1 By HVAC type
7.1.1.1.1 Heating, by equipment type
7.1.1.1.2 Ventilation, by equipment type
7.1.1.1.3 Air Conditioning, by equipment type
7.1.1.2 By end user
7.1.1.2.1 Commercial, by category
7.1.1.2.2 Industrial, by Category
7.1.2 By Service
7.2 By Country
Chapter 8. APAC Market Size and Forecast
8.1 By Offering
8.1.1 By Equipment
8.1.1.1 By HVAC type
8.1.1.1.1 Heating, by equipment type
8.1.1.1.2 Ventilation, by equipment type
8.1.1.1.3 Air Conditioning, by equipment type
8.1.1.2 By end user
8.1.1.2.1 Commercial, by category
8.1.1.2.2 Industrial, by Category
8.1.2 By Service
8.2 By Country
Chapter 9. LATAM Market Size and Forecast
9.1 By Offering
9.1.1 By Equipment
9.1.1.1 By HVAC type
9.1.1.1.1 Heating, by equipment type
9.1.1.1.2 Ventilation, by equipment type
9.1.1.1.3 Air Conditioning, by equipment type
9.1.1.2 By end user
9.1.1.2.1 Commercial, by category
9.1.1.2.2 Industrial, by Category
9.1.2 By Service
9.2 By Country
Chapter 10. MEA Market Size and Forecast
10.1 By Offering
10.1.1 By Equipment
10.1.1.1 By HVAC type
10.1.1.1.1 Heating, by equipment type
10.1.1.1.2 Ventilation, by equipment type
10.1.1.1.3 Air Conditioning, by equipment type
10.1.1.2 By end user
10.1.1.2.1 Commercial, by category
10.1.1.2.2 Industrial, by Category
10.1.2 By Service
10.1 By Country
Chapter 11. Major Markets for HVAC
11.1 U.S. HVAC Market
11.1.1 By End-User
11.2 China HVAC Market
11.2.1 By End-User
11.3 Japan HVAC Market
11.3.1 By End-User
11.4 South Korea HVAC Market
11.4.1 By End-User
11.5 India HVAC Market
11.5.1 By End-User
Chapter 12. Competitive Landscape
12.1 List of Market Players and Their Offerings
12.2 Market Share Analysis of Key Players
12.3 Competitive Benchmarking of Key Players
12.4 Strategic Developments of Key Players
12.4.1 Product Launches
12.4.2 Geographic Expansions
12.4.3 Facility Expansions
12.4.4 Other Developments
Chapter 13. Company Profiles
13.1 Johnson Controls International PLC
13.1.1 Business Overview
13.1.2 Product and Service Offerings
13.1.3 Key Financial Summary
13.2 Trane Technologies plc
13.2.1 Business Overview
13.2.2 Product and Service Offerings
13.2.3 Key Financial Summary
13.3 Carrier Global Corporation
13.3.1 Business Overview
13.3.2 Product and Service Offerings
13.3.3 Key Financial Summary
13.4 Daikin Industries Ltd.
13.4.1 Business Overview
13.4.2 Product and Service Offerings
13.4.3 Key Financial Summary
13.5 Samsung Electronics Co. Ltd.
13.5.1 Business Overview
13.5.2 Product and Service Offerings
13.5.3 Key Financial Summary
13.6 Lennox International Inc.
13.6.1 Business Overview
13.6.2 Product and Service Offerings
13.6.3 Key Financial Summary
13.7 Gree Electric Appliances Inc. of Zhuhai
13.7.1 Business Overview
13.7.2 Product and Service Offerings
13.8 Mitsubishi Electric Corporation
13.8.1 Business Overview
13.8.2 Product and Service Offerings
13.8.3 Key Financial Summary
13.9 Toshiba Carrier Corporation
13.9.1 Business Overview
13.9.2 Product and Service Offerings
13.10 LG Electronics Inc.
13.10.1 Business Overview
13.10.2 Product and Service Offerings
13.10.3 Key Financial Summary
13.11 Fujitsu Limited
13.11.1 Business Overview
13.11.2 Product and Service Offerings
13.11.3 Key Financial Summary
13.12 Midea Group Co. Ltd.
13.12.1 Business Overview
13.12.2 Product and Service Offerings
13.12.3 Key Financial Summary
13.13 Danfoss A/S
13.13.1 Business Overview
13.13.2 Product and Service Offerings
13.13.3 Key Financial Summary
Chapter 14. Appendix
14.1 Abbreviations
14.2 Sources and References
14.3 Related Reports
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