Heating, Ventilating, and Air Conditioning (HVAC) equipment perform heating and cooling for residential, commercial or industrial buildings. This system also be responsible for providing outside fresh air to dilute indoor airborne contaminants such as odors from occupants, volatile organic compounds (VOC’s) emitted from interior furnishings, chemicals used for cleaning, etc. The market for global heating, ventilation & air conditioning (HVAC) is increasing with the rapid pace; primarily due to increasing adoption of HVAC systems in IT/ITeS.
Rapid growth in construction and infrastructure activities across the globe pouring the growth of the market. This system is becoming one of the important building blocks in modern infrastructure. Hence, the increase in new constructions in the residential, and non-residential sectors have increase the demand for HVAC systems, as it improves building efficiencies. Furthermore, favorable government regulations across the world also fuels the growth of the market. For example, the Commercial Building Disclosure outlined by the Australian government offers a great incentives for enhancing the performance and effectiveness of HVAC systems. Moreover, various key players are spending huge many in their R&D and coming up with technologically advance HVAC system. This also has the positive influence on the growth of the market.
Top Key Player:-
- Honeywell International
- Johnson Controls
- Zamil Air Conditioners
- Lennox International
- Ingersoll Rand,
- Gree Electric Appliances Inc
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In August 2016, Daikin Vietnam just signed an agreement with the Thang Long Industrial Zone 2 for land lease to start construction of the largest air conditioner factory in Vietnam. Demand for air conditioners in Vietnam is increasing at rapid pace, addressing particularly on residential-use air conditioners. Hence to meet the increasing demand in Vietnam, Daikin is expanding its capacity to supply products with the establishing a new factory and local production to further accelerate business expansion.
In May 2016, Samsung India Electronics launched the four new products, engineered to deliver excellent cooling, better efficiency and lower operating and maintenance costs. The four new products contain the new 360 Cassette AC, 30 HP Super DVM, 14 HP Side Discharge DVM Eco and DVM Chiller.
Heating, Ventilation & Air Conditioning (HVAC) Market – Segmentation
Global Heating, Ventilation & Air Conditioning (HVAC) Market is segmented in to three key dynamics for an easy grasp and enhanced understanding.
Based on Systems, market is segmented into Heating, Ventilation, Humidity, Integrated Controls.
Based on Components, market is segmented into Sensors, Control & Control Devices
On the basis of Revenue Source, market is segmented into HVAC Controls, Building Energy Management Systems (BEMS).
Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
Global Heating, Ventilation & Air Conditioning (HVAC) Market – Regional Analysis
European and North America region dominates the global Heating, Ventilation & Air Conditioning (HVAC) market. U.S. is the largest contributor in North America as well as global HVAC market mainly due to strong penetration of HVAC systems in residential and commercial construction.
The Asia-Pacific region is projected to be the fastest growing region for the Heating, Ventilation & Air Conditioning (HVAC). High growth in industrial activities, rising urbanized population, and growing disposable income among the individuals are the factors pouring the growth of the market in Asia Pacific region. Furthermore, favorable government regulation also provide the further boost to growth of the market. In China the central policies on housing were relaxed, the lowest down payment ratio declined in 2016. Hence, cheap down payments motivated more homebuyers to borrow money from banks. This in turn pushed the construction industry, which ultimately headed to the increased demand for HVAC system.
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