Global HVAC Systems Market – Detailed Study Analysis and Forecast by 2023
Our latest research report entitled HVAC Systems Market (by application (industrial and residential), by equipment type (heating, ventilation and cooling), by implementation type (new construction and retrofit building), by software & service (heat load calculation, design, scheduling, service software)) provides complete and deep insights into the market dynamics and growth of HVAC Systems. Latest information on market risks, industry chain structure HVAC Systems cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential HVAC Systems growth factors.
The forecast HVAC Systems Market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, HVAC Systems on global and regional level and applications is conducted. The analysis of downstream buyers, sales channel, raw materials, and industry verticals is offered in this report. Global HVAC systems market size is expected to exceed USD X.xx billion by 2023, growing at a CAGR between 5.5% and 5.9% over the period of 2017 – 2023.
Heating, Ventilation and Air Conditioning systems are mechanical systems which impart thermal comfort as well as quality air in a particular indoor space. HVAC systems control the environmental conditions in the working space by cooling. HVAC systems filterair, controls moisture and temperature as per predetermined requirements. HVAC systems remove airborne contaminants, improve the odor and infuse fresh air into space. Boilers, centralized air conditioners, chillers, coolers, cooling towers, furnaces, heat pumps, packaged systems, rooftop units, unitary air-conditioners, and unitary heaters are some of the major HVAC systems used for commercial, residential, and industrial purposes. Forced air and radiant are two major types of heating systems with furnace or heat pump as sources for heat. Ventilation is a process by which outdoor air is brought into the building and circulated and exhausted to the atmosphere by natural or mechanical means. Meanwhile, air conditioner dehumidifies and cools the air while it passes through cold coil surfaces. Heat exchangers are now widely used as part of HVAC systems for heat recovery and thereby improving energy efficiency, with a significant reduction in energy consumption. Modern HVAC systems include software systems for scheduling, setting predetermined conditions, managing and monitoring the functioning of the equipment.
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Global warming induced change in climate in various regions drive the demand for HVAC systems, as the extreme weather conditions affect human comfort and productivity. Technological advancements are anticipated to drive the growth of the global HVAC market, as new applications emerge in commercial, industrial and residential sectors. The preference for smart homes among customers who look for energy efficient homes is expected to drive the growth of the HVAC systems during the forecast period. Tax credit programmes and regulations aimed at promoting energy efficient systems are expected to enhance the demand for HVAC systems. Globally, increasing investments in the construction sector such as real estate and infrastructure is expected to generate demand for HVAC systems, as the buildings require modern energy efficient solutions for heating, ventilation, and air-conditioning. The stability in the automobile industry is expected to drive the demand for HVAC systems, as customers prefer to have air-conditioning or heating systems in their vehicles, depending upon the local weather conditions. Increasing demand for up gradation or refurbishment of the old ones with energy efficient HVAC systems for meeting new regulations and standards are expected to enhance the growth of the global HVAC systems market. Cooling equipment segment dominates the global HVAC systems market, as there is more demand for air-conditioning and other cooling applications. Condensing boilers segment is anticipated to witness significant growth during the forecast period 2017-2023, as they are far more energy efficient and cause less emissions.
Higher energy consumption by HVAC systems is a major restraint for the global HVAC market, as it makes unaffordable to many consumers. High emissions from boiler based HVAC systems is another restraint for the global HVAC market, as stringent regulations are formulated for curbing emissions and improving energy efficiency. The countries with extreme weather conditions are expected to provide opportunities for major players in the market as consumers will need solutions for air-conditioning and heating. The construction boom is anticipated to provide growth opportunities for major players, especially in emerging economies. Eco-friendly and energy efficient systems are anticipated to provide growth opportunities as it will help the companies to meet the stringent regulations.
Market Segmentation by Application, by Equipment Type, by Implementation Type, and by Software & Service
The report covers the analysis of global as well as regional markets of HVAC systems Market. Moreover, the global HVAC systems market is segmented by application, by equipment type, by implementation type, and by software & service. The global HVAC systems market by application covers automotive, commercial, industrial and residential. On the basis of equipment type, the market is segmented as heating, ventilation, and cooling. Based on the implementation type, the market is segmented as new construction and retrofit building among others. Based on software and service, the market is segmented as heat load calculation software, design software, scheduling software, service software, installation, and maintenance & repair among others.
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The companies covered in the report include manufacturers of Global HVAC systems market include Daikin Industries Ltd, Electrolux AB, Johnson Controls Inc, Ingersoll-Rand Plc, LG Electronics, Lennox International, Mitsubishi Electric, Nortek Inc, Qingdao Haier Co. Ltd, Samsung Electronics, United Technologies Corporation, and Whirlpool Corporation.
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