Market Overview:
The global HVAC equipment market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy-efficient and environment-friendly HVAC equipment, rising disposable income, and growing construction activities across the globe. The furnace segment is expected to hold the largest share of the global HVAC equipment market in 2018. This segment is projected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030. The growth in this segment can be attributed to increasing demand for furnaces due their ability save energy and provide comfort heating during winters.
Product Definition:
HVAC equipment is used to heat, cool and ventilate buildings. The importance of HVAC equipment is that it helps maintain a comfortable temperature in a building and keeps the air clean.
Furnace:
A furnace is an equipment used to heat materials or liquids which can be found in residential, commercial and industrial HVAC (Heating Ventilating and Air Conditioning) applications. The global market for furnaces is expected to grow at a significant rate owing to the increasing demand from end-use industries such as automotive, metal processing, glass making etc.
Heat Pump:
The heat pump is a mechanical device that extracts heat from one area and transfers it to another. The main function of the heat pump is to provide heating or cooling functionality by moving thermal energy from one location to another. Heat pumps can extract (convert) solar energy, thereby making them an attractive option for space heating or cooling applications in residential and commercial HVAC equipment markets.
Application Insights:
The non-residential application segment dominated the global market in 2017. The growth of the segment can be attributed to an increase in demand for HVAC systems in commercial buildings, such as offices, showrooms and malls. Furthermore, technological advancements and standardization of product features have also aided to propel industry growth over the forecast period.
The residential sector is expected to witness significant growth over the forecast period owing to increasing urbanization due largely on a rise in disposable income among consumers coupled with rising real estate prices across various regions including North America and Europe. This trend is projected to benefit market demand for HVAC equipment over the next eight years since 2018 owing to growing concerns regarding energy consumption among households especially during summer months when air conditioning is needed most often resulting into increased adoption of these systems by consumers globally thereby fueling industry expansion at a CAGR of XX% from 2018to 2030 ¢â‚¬Å“ accordingto GEM Research Inc.
Regional Analysis:
North America dominated the global market in 2017. The growth of the region can be attributed to increasing demand for energy-efficient HVAC systems, growing construction industry, and rising awareness about maintaining home comfort. Moreover, presence of a large number of manufacturers and service providers is expected to positively impact regional growth over the forecast period.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to rapid urbanization in emerging countries such as India and China along with increased spending on household appliances due to changing lifestyle resulting in rise in consumer disposable income levels. Furthermore, government initiatives encouraging green building construction are expected drive product demand across residential as well non-residential applications thereby complementing regional market growth.
Growth Factors:
- Increasing demand for energy-efficient HVAC equipment
- Rapid growth of the construction industry
- Rising awareness about the benefits of HVAC systems
- Growing demand from commercial sectors
- Technological advancements in HVAC equipment
Scope Of The Report
Report Attributes
Report Details
Report Title
HVAC Equipment Market Research Report
By Type
Furnace, Heat Pump, Central Air Conditioning, Room Air Conditioning, Others
By Application
Non-Residential, Residential
By Companies
Carrier, DAIKIN INDUSTRIES, Ingersoll Rand, Johnson Controls, LG Electronics, Carrier
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
242
Number of Tables & Figures
170
Customization Available
Yes, the report can be customized as per your need.
Global HVAC Equipment Market Report Segments:
The global HVAC Equipment market is segmented on the basis of:
Types
Furnace, Heat Pump, Central Air Conditioning, Room Air Conditioning, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Non-Residential, Residential
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Carrier
- DAIKIN INDUSTRIES
- Ingersoll Rand
- Johnson Controls
- LG Electronics
- Carrier
Highlights of The HVAC Equipment Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Furnace
- Heat Pump
- Central Air Conditioning
- Room Air Conditioning
- Others
- By Application:
- Non-Residential
- Residential
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the HVAC Equipment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
HVAC equipment is a system used to heat, cool, or ventilate an enclosed space.
Some of the key players operating in the hvac equipment market are Carrier, DAIKIN INDUSTRIES, Ingersoll Rand, Johnson Controls, LG Electronics, Carrier.
The hvac equipment market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 HVAC Equipment Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 HVAC Equipment Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 HVAC Equipment Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the HVAC Equipment Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global HVAC Equipment Market Size & Forecast, 2018-2028 4.5.1 HVAC Equipment Market Size and Y-o-Y Growth 4.5.2 HVAC Equipment Market Absolute $ Opportunity
Chapter 5 Global HVAC Equipment Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 HVAC Equipment Market Size Forecast by Type
5.2.1 Furnace
5.2.2 Heat Pump
5.2.3 Central Air Conditioning
5.2.4 Room Air Conditioning
5.2.5 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global HVAC Equipment Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 HVAC Equipment Market Size Forecast by Applications
6.2.1 Non-Residential
6.2.2 Residential
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global HVAC Equipment Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 HVAC Equipment Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America HVAC Equipment Analysis and Forecast
9.1 Introduction
9.2 North America HVAC Equipment Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America HVAC Equipment Market Size Forecast by Type
9.6.1 Furnace
9.6.2 Heat Pump
9.6.3 Central Air Conditioning
9.6.4 Room Air Conditioning
9.6.5 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America HVAC Equipment Market Size Forecast by Applications
9.10.1 Non-Residential
9.10.2 Residential
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe HVAC Equipment Analysis and Forecast
10.1 Introduction
10.2 Europe HVAC Equipment Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe HVAC Equipment Market Size Forecast by Type
10.6.1 Furnace
10.6.2 Heat Pump
10.6.3 Central Air Conditioning
10.6.4 Room Air Conditioning
10.6.5 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe HVAC Equipment Market Size Forecast by Applications
10.10.1 Non-Residential
10.10.2 Residential
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific HVAC Equipment Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific HVAC Equipment Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific HVAC Equipment Market Size Forecast by Type
11.6.1 Furnace
11.6.2 Heat Pump
11.6.3 Central Air Conditioning
11.6.4 Room Air Conditioning
11.6.5 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific HVAC Equipment Market Size Forecast by Applications
11.10.1 Non-Residential
11.10.2 Residential
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America HVAC Equipment Analysis and Forecast
12.1 Introduction
12.2 Latin America HVAC Equipment Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America HVAC Equipment Market Size Forecast by Type
12.6.1 Furnace
12.6.2 Heat Pump
12.6.3 Central Air Conditioning
12.6.4 Room Air Conditioning
12.6.5 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America HVAC Equipment Market Size Forecast by Applications
12.10.1 Non-Residential
12.10.2 Residential
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) HVAC Equipment Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) HVAC Equipment Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) HVAC Equipment Market Size Forecast by Type
13.6.1 Furnace
13.6.2 Heat Pump
13.6.3 Central Air Conditioning
13.6.4 Room Air Conditioning
13.6.5 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) HVAC Equipment Market Size Forecast by Applications
13.10.1 Non-Residential
13.10.2 Residential
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 HVAC Equipment Market: Competitive Dashboard
14.2 Global HVAC Equipment Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Carrier
14.3.2 DAIKIN INDUSTRIES
14.3.3 Ingersoll Rand
14.3.4 Johnson Controls
14.3.5 LG Electronics
14.3.6 Carrier