Global Heating Ventilation and Air Conditioning Market Information, by Systems (Heating, Ventilation, Humidity, Integrated Controls), by Components (Sensors, Control & Control Devices), by Revenue Source (HVAC Controls, Building Energy Management Systems (BEMS), by region (Europe, Americas, Asia Pacific & MEA) – Forecast to 2027
Global Heating, Ventilation and Air Conditioning Market – Overview
The demand for HVAC market is constantly increasing due to temperature extremes that have become increasingly common around the world. According to a report published by Market Research Future on Global Heating, Ventilation and Air Conditioning (HVAC) Market Report – Forecast to 2027, the HVAC industry is expected to grow at an exceptional CAGR percentage which will further exponentially increase the global market share.
The HVAC market in the Middle East tends to have a higher demand for cooling due to extremely high temperatures almost throughout the year, whereas North America and Europe markets have a slightly higher demand for heating solutions due to the extremely low temperature in winter. The demand in these markets is very high for HVAC products and has been growing steadily. Climate change is a major motivating factor for demand in the HVAC market. The Middle Eastern region is the leader in terms of usage of HVAC units.
With increase in the number of residential and commercial buildings the need for ventilation in the spaces inside needs to be looked after, the urban areas in countries are prime locations where need for HVAC solutions are high. The factors that are instrumental for growth in this market are high rate of growth, extreme weather conditions, population growth and high pace of development of urban regions. The market can find its growth restricted due to disruptive technological changes and lack of efficiency in terms of cost and energy savings.
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Latest Industry Updates:
Nov 2017 keeping in view the increasing demand, Daikin Air conditioning India, a subsidiary of Daikin Industries Ltd., Japan has commissioned its second factory at Neemrana, Rajasthan. The plant is strategically located at Neemrana in a sprawling area of 160,000 sq metres space with a total investment of more than Rs. 2,000 crore.
Nov 2017 Burkholder Heating and Air Conditioning, Emmaus, has acquired the Bethlehem-based Lande Heating and Air Conditioning. The company will immediately begin providing sale, installation and maintenance service to all of Lande’s customers. The acquisition is expected to provide excellent growth opportunities to Burkholder Heating and Air Conditioning.
Nov 2017 Modine Manufacturing Company, leader in technology in the HVAC industry, have released the new Atherion D cabinet, an HVAC commercial rooftop unit with up to 60 ton capacity. The units enable expansion of Modine’s offering by doubling the cooling capacity and nearly tripling the gas heating capacity.
Nov 2017 Johnson Controls opened its newest Source 1 HVAC Supply Center in Fort Pierce. Source 1 is the exclusive supplier of factory authorized service parts and residential accessories for all Johnson Controls Unitary Products residential and light commercial HVAC equipment.
Nov 2017 Climate Control Experts who specialize in residential and commercial applications in the heating, ventilation and air conditioning (HVAC) industry, have announced their expansion into the Austin, Texas market with the recent acquisition of a Texas Contractor’s License. This acquisition represents growth potential that will enable Climate Control Experts to set up strategic locations in order to more easily serve future markets planned for 2018 and 2019.
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Global Heating, Ventilation and Air Conditioning – Competitive Analysis
With the entry of new industry players in global HVAC segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced product types in the segment. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
The Global Heating, Ventilation & Air Conditioning (HVAC) Market is consisting of key players like Daikin, Johnson Controls, Zamil Air Conditioners, Lennox International, Honeywell International. Some of the other notable players are Ingersoll Rand, Gree Electric Appliances Inc, Samsung Electronics, Fujitsu General, Siemens Building Technologies.
Global Heating, Ventilation and Air Conditioning Market – Segments
For this report the Global Heating, Ventilation & Air Conditioning (HVAC) Market has been segmented into the following types:
On The Basis Of Types of Air Conditioners: Split Residential Air Conditioners, Window or Through the Wall Air Conditioners, Packaged Air Conditioners, Central Air Conditioning.
On The Basis Of Application: Commercial, Residential, Institutional, Hospitality and Others.
Global Heating, Ventilation and Air Conditioning Market – Regional Analysis
HVAC market in the Middle East and Africa (MEA) market is primarily driven by the rising infrastructure projects in the region. The Middle East and Africa (MEA) is expected to grow at an exceptional CAGR and is expected to have a massive market share. The European and the North American market is expected to be the largest market globally and is expected to have a commendable market share and will continue to grow at a healthy CAGR.
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