Dublin, May 28, 2021 (GLOBE NEWSWIRE) -- The "Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
Major companies in the ventilation, heating, air-conditioning, and commercial refrigeration equipment market include United Technologies Corporation; Daikin Industries Ltd; Johnson Controls Inc; Ingersoll Rand and Bosch Group.
The global ventilation, heating, air-conditioning, and commercial refrigeration equipment market is expected to grow from $507.62 billion in 2020 to $525.45 billion in 2021 at a compound annual growth rate (CAGR) of 3.5%.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
The market is expected to reach $703.82 billion in 2025 at a CAGR of 8%.
Asia Pacific was the largest region in the global ventilation, heating, air-conditioning, and commercial refrigeration equipment market, accounting for 58% of the market in 2020. North America was the second largest region accounting for 20% of the global ventilation, heating, air-conditioning, and commercial refrigeration equipment market. Africa was the smallest region in the global ventilation, heating, air-conditioning, and commercial refrigeration equipment market.
The geothermal heating and cooling technology is becoming popular because of the surge in demand for energy efficient HVAC systems. Geothermal HVAC absorbs heat from the facility and transfers it underground and it uses cool water from the ground to create cool air conditioning in the facility. It consists of an indoor handling unit and a system of pipes underground which requires very low maintenance and lasts longer than traditional HVAC systems. Geothermal heating and cooling systems are now installed in about 50,000 US houses each year, according to the US Department of Energy.
The ventilation, heating, air-conditioning, and commercial refrigeration equipment manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021.
Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period.
Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end user markets, thereby driving the market during forecast period.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Trends And Strategies
8. Impact Of COVID-19 On Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment
9. Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Regional Analysis
10.1. Global Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market, 2020, By Region, Value ($ Billion)
10.2. Global Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market, 2015-2020, 2020-2025F, 2030F, Historic And Forecast, By Region
10.3. Global Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market, Growth And Market Share Comparison, By Region
11. Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Segmentation
11.1. Global Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- HVAC And Commercial And Industrial Refrigeration Equipment
- Commercial Fan And Air Purification Equipment
- Heating Equipment (except Warm Air Furnaces)
11.2. Global Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market, Segmentation By Capacity, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Small
- Medium
- Large
12. Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Segments
12.1. Global HVAC And Commercial And Industrial Refrigeration Equipment Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) - HVAC Equipment; Commercial And Industrial Refrigeration Equipment; Polystyrene Foam Products; Urethane And Other Foam Product
12.2. Global Commercial Fan And Air Purification Equipment Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) - Air Purification Equipment; Attic And Exhaust fans; Other Commercial Fan And Air Purification Equipment
12.3. Global Heating Equipment (except Warm Air Furnaces) Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) - Heating Boilers; Heating Stoves; Floor And Wall Furnaces; Other Heating Equipment (except Warm Air Furnaces)
13. Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Metrics
13.1. Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Size, Percentage Of GDP, 2015-2025, Global
13.2. Per Capita Average Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Expenditure, 2015-2025, Global
Companies Mentioned
- United Technologies Corporation
- Daikin Industries Ltd
- Johnson Controls Inc
- Ingersoll Rand
- Bosch Group
For more information about this report visit https://www.researchandmarkets.com/r/q7zi9n