Market Overview:
The global HVAC system market is expected to grow from USD XX billion in 2018 to USD XX billion by 2030, at a CAGR of X.X%. The growth of the market can be attributed to the increasing demand for energy-efficient HVAC systems and rising awareness about the benefits of using these systems. The global HVAC system market is segmented on the basis of type, application, and region. On the basis of type, the market is divided into heat pumps, furnaces, boilers, and unitary heaters. The furnaces segment is expected to hold a major share in the global HVAC system market during the forecast period owing to their high efficiency and low operating costs. On the basis of application, residential accounted for a major share in 2017 and is projected to grow at a significant rate during 2018-2030 owing to an increase in construction activities across various regions worldwide.
Product Definition:
HVAC stands for Heating, Ventilation and Air Conditioning. HVAC systems are important because they provide heating and cooling to buildings. They also help to circulate air in a building, which helps to improve the air quality.
Heat Pumps:
The heat pumps are used to remove the unwanted heat from a building or any other structure. The unwanted heat is usually produced by electrical equipment, industrial processes, and air conditioning systems. Heat pumps can extract this energy and transfer it to another area where it is needed. It can also be used for space heating which means creating warm environment inside the building with the help of hot water pipes connected to radiators or steam pipes installed in buildings.
Furnaces:
A furnace is an apparatus used to heat materials such as metal, glass, plastic or other substances for the purpose of evaporation or transformation. The most common types of furnaces include air and gas furnaces. Air furnace has a capacity up to 10 tons whereas gas furnace can go up to 40 tons.
Application Insights:
The commercial application segment accounted for the largest share of over 60.0% in 2017. The growth can be attributed to the increasing construction activities of shopping malls, offices, hotels and hospitals across developing countries such as India, China and Thailand. Furthermore, technological advancements in HVAC systems are expected to drive their demand over the forecast period owing to increased energy efficiency resulting in cost savings for end-users.
The industrial application segment is projected to witness a CAGR of XX% from 2018 to 2030 owingto an increase in manufacturing activities across various industries including automotive and aerospace which require large scale cooling & heating equipment along with other services such as ventilation and exhaust cleaning services required by these industries respectively thereby driving market growth over the forecast period ¢â‚¬Ëœ2030¢â‚¬ (Youtube video link).
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing rapid urbanization, which has resulted in an increasing requirement for HVAC systems. Furthermore, emerging economies such as China and India are experiencing strong economic growth, which is anticipated to increase spending on various energy-efficient technologies including HVAC systems.
The European regional market held a share of more than 20% in terms of revenue in 2017 owing to growing demand from countries such as Germany and France. In addition, strict implementation of EU directives aimed at reducing greenhouse gas emissions by 30% by 2020 compared with that in 1990 is expected to boost product demand across Europe during the forecast period.
Growth Factors:
- Increasing demand for energy-efficient HVAC systems
- Growing popularity of smart homes and buildings
- Proliferation of Internet of Things (IoT) in the HVAC sector
- Rising concerns over indoor air quality and energy consumption
- Technological advancements in the HVAC industry
Scope Of The Report
Report Attributes
Report Details
Report Title
HVAC System Market Research Report
By Type
Heat Pumps, Furnaces, Boilers, Unitary Heaters
By Application
Residential, Commercial, Industrial
By Companies
Daikin, Ingersoll-Rand, Johnson Controls, LG Electronics, United Technologies, Electrolux, Emerson, Honeywell, Lennox, Nortek, Daikin, Panasonic, Haier, Samsung Electronics, Whirlpool, Midea, Gree, Fujitsu, Hitachi, Danfoss
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
155
Number of Tables & Figures
109
Customization Available
Yes, the report can be customized as per your need.
Global HVAC System Market Report Segments:
The global HVAC System market is segmented on the basis of:
Types
Heat Pumps, Furnaces, Boilers, Unitary Heaters
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
Residential, Commercial, Industrial
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:
- Daikin
- Ingersoll-Rand
- Johnson Controls
- LG Electronics
- United Technologies
- Electrolux
- Emerson
- Honeywell
- Lennox
- Nortek
- Daikin
- Panasonic
- Haier
- Samsung Electronics
- Whirlpool
- Midea
- Gree
- Fujitsu
- Hitachi
- Danfoss
Highlights of The HVAC System 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:
- Heat Pumps
- Furnaces
- Boilers
- Unitary Heaters
- By Application:
- Residential
- Commercial
- Industrial
- 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 System 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?
A heating, ventilation and air conditioning (HVAC) system is a mechanical and electrical system used to provide indoor climate control. The three main components of an HVAC system are the furnace, the air handler(s), and the ductwork.
Some of the key players operating in the hvac system market are Daikin, Ingersoll-Rand, Johnson Controls, LG Electronics, United Technologies, Electrolux, Emerson, Honeywell, Lennox, Nortek, Daikin, Panasonic, Haier, Samsung Electronics, Whirlpool, Midea, Gree, Fujitsu, Hitachi, Danfoss.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 HVAC System 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 System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 HVAC System 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 System 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 System Market Size & Forecast, 2020-2028
4.5.1 HVAC System Market Size and Y-o-Y Growth
4.5.2 HVAC System Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Heat Pumps
5.2.2 Furnaces
5.2.3 Boilers
5.2.4 Unitary Heaters
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Residential
6.2.2 Commercial
6.2.3 Industrial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global HVAC System 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 System 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Heat Pumps
9.6.2 Furnaces
9.6.3 Boilers
9.6.4 Unitary Heaters
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 Market Size Forecast by Applications
9.10.1 Residential
9.10.2 Commercial
9.10.3 Industrial
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Heat Pumps
10.6.2 Furnaces
10.6.3 Boilers
10.6.4 Unitary Heaters
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 Market Size Forecast by Applications
10.10.1 Residential
10.10.2 Commercial
10.10.3 Industrial
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Heat Pumps
11.6.2 Furnaces
11.6.3 Boilers
11.6.4 Unitary Heaters
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 Market Size Forecast by Applications
11.10.1 Residential
11.10.2 Commercial
11.10.3 Industrial
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Heat Pumps
12.6.2 Furnaces
12.6.3 Boilers
12.6.4 Unitary Heaters
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 Market Size Forecast by Applications
12.10.1 Residential
12.10.2 Commercial
12.10.3 Industrial
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Heat Pumps
13.6.2 Furnaces
13.6.3 Boilers
13.6.4 Unitary Heaters
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) Market Size Forecast by Applications
13.10.1 Residential
13.10.2 Commercial
13.10.3 Industrial
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 System Market: Competitive Dashboard
14.2 Global HVAC System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Daikin
14.3.2 Ingersoll-Rand
14.3.3 Johnson Controls
14.3.4 LG Electronics
14.3.5 United Technologies
14.3.6 Electrolux
14.3.7 Emerson
14.3.8 Honeywell
14.3.9 Lennox
14.3.10 Nortek
14.3.11 Daikin
14.3.12 Panasonic
14.3.13 Haier
14.3.14 Samsung Electronics
14.3.15 Whirlpool
14.3.16 Midea
14.3.17 Gree
14.3.18 Fujitsu
14.3.19 Hitachi
14.3.20 Danfoss
