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INDUSTRIAL AUTOMATION & EQUIPMENTS

Heat, Ventilation and Air-Conditioning (HVAC) Equipment Market : Global Demand Analysis & Opportunity Outlook 2021

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Extensive insights into the Growth of Heat, Ventilation and Air-Conditioning (HVAC) Equipment Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Overview

Heat, ventilation and air-conditioning (HVAC) systems are used to perform proper heating or cooling inside commercial/industrial and residential buildings. These systems are also used to maintain proper circulation of fresh air inside the buildings in order to curb the growth of moulds, bad odour and other contaminants.

The global HVAC market is anticipated to reach USD 69.0 Billion by 2021, exhibiting a compound annual growth rate (CAGR) of 4.4%. Regionally, the global HVAC market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific, Middle East and North Africa (MENA) and Rest of World (Row).

Market Size and Forecast

With 51.2% share in 2015, Asia-Pacific held the largest HVAC market across the globe. HVAC market in the region is further envisioned to bolster at a sturdy CAGR of 7.1% over the forecast period i.e. 2015-2021. The market is expected to escalate from strengthening economic growth in countries such as China and India. China is one of the largest HVAC providers in Asia-Pacific region.

North America and Europe are also anticipated to witness a robust growth in HVAC market over next 4-5 years, sparked by increasing developments of green buildings, which ensure proper maintenance of HVAC systems inside the buildings. CLICK TO DOWNLOAD FREE SAMPLE

Market Segmentation

By Equipment Type

  • Heating (Furnaces, heat pumps, boilers and unitary heaters)
  • Ventilation (Humidifier/Dehumidifiers, Ventilation Fans/Air Pumps)
  • Air-conditioning (Unitary air conditioners, room air conditioners, coolers and others)

By End-User

  • Residential
  • Commercial/Industrial

The study further analysis the Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

Growth Drivers and challenges

Rapid upsurge of global population coupled with expanding industrial units is anticipated to be a key driver of the global HVAC market during the forecast period i.e. 2015-2021.

In addition to that, rising income levels of population in emerging markets and government regulation to ensure proper energy level inside buildings is also expected to augment the development of HVAC market in future.

However, lack of knowledge and cost barriers might hamper the growth of global HVAC market over next few years.

Key Players

Global HVAC market includes some of the top players including Daikin Industries, Johnson Controls, Ingersoll-Rand, AB Electrolux, Nortek, Samsung, Siemens, L.G., etc.

 


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