Global Heating, Ventilation and Air Conditioning (HVAC) Market: Size, Trends and Forecasts (2019-2023)
- Report Description Table of Contents
Scope of the Report
The report titled “Global Heating, Ventilation and Air Conditioning (HVAC) Market: Size, Trends and Forecasts (2019-2023)”, provides an in depth analysis of the global heating, ventilation and air conditioning (HVAC) market by value, by volume, by product category, by region, etc. The report also provides a regional analysis of the HVAC market and HVAC equipment market, including the following regions: APAC, EMEA, Americas (North America) and Other Regions. The report also provides a detailed analysis of the US commercial HVAC equipment market by value and by product category.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global heating, ventilation and air conditioning (HVAC) market has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The global heating, ventilation and air conditioning (HVAC) market is highly fragmented with many market players operating worldwide. Some heating, ventilation and air conditioning (HVAC) market players operating on a local level while other players operating on a regional and global level. The manufacturers of HVAC produce different types of HVAC equipment for different purpose and applications. However, the competition in the global heating, ventilation and air conditioning (HVAC) market is dominated by few HVAC market players. Further, key players of the heating, ventilation and air conditioning (HVAC) market are United Technologies Corporation (Carrier), Ingersoll-Rand plc (Trane Inc.), Johnson Controls International plc (York International), Daikin Industries Ltd. (Goodman Global, Inc.) are also profiled with their financial information and respective business strategies.
- Americas (North America)
- Other Regions
- United Technologies Corporation (Carrier)
- Ingersoll-Rand plc (Trane Inc.)
- Johnson Controls International plc (York International)
- Daikin Industries, Ltd. (Goodman Global, Inc.)
HVAC stands for Heating, Ventilation and Air-conditioning. HVAC refers to the different systems used for moving air between indoor and outdoor areas, along with providing acceptable indoor air quality. These systems are also used to provide thermal comfort and maintain humidity at the optimum level.
HVAC equipment are placed in buildings to achieve heating, ventilation and cooling. HVAC equipment can be broadly categorized into two types: Residential HVAC and Commercial HVAC. Residential HVAC equipment are used in houses, whereas commercial HVAC equipment are used in commercial buildings, such as office buildings, large retail stores, warehouses and other large buildings.
HVAC equipment installed in the residential and commercial sectors are responsible for the same functions of heating, cooling and ventilation. But, there are few differences exist in the installation of HVAC systems in both the sectors. These differences are explained on the basis of structure, location, heating or cooling capacity, exhaust ventilation and maintenance cost.
The residential HVAC market can be segmented on the basis of equipment (Split Systems, Furnaces and Indoor Components) and product category (Ducted and Ductless). The commercial HVAC market can be segmented on the basis of product category (Large Applied Systems, Smaller Unitary Systems/Ducted and Ductless Systems).
The global heating, ventilation and air conditioning (HVAC) market has increased at a significant CAGR during the years 2015-2018 and projections are made that the market would rise in the next four years i.e. 2019-2023 tremendously. The heating, ventilation and air conditioning (HVAC) market is expected to increase due to surging urban population, rising number of new housing units, growing replacement demand of HVAC systems, escalating demand for AC/heat pumps for new residential construction, etc. Yet the market faces some challenges such as uncertainty in the demand for HVAC systems due to climate change, high cost involved, etc.