Stringent government regulations promoting energy efficient solutions coupled with the varying environmental conditions is expected to drive the demand for new HVAC equipment installations in the coming years. In addition, infrastructural development and increased discretionary household expenditure is expected to have positive impact on the market growth. These factors are expected to contribute towards a compounded annual growth rate (CAGR) of 5.6% during the forecast period 2015 – 2023. The HVAC (Heating, Ventilation, and Air Conditioning) equipment market  is expected to exceed US$ 125.0 Bn by 2023.

1.1    Market Scope and Segmentation

This report analyzes the global HVAC (Heating, Ventilation, and Air Conditioning) equipment market in terms of product type, end-use applications, and geographical distribution. On the basis of product type, the market is segmented into heating equipment (heat pumps, furnaces, boilers, unitary heaters), ventilation equipment (ventilation fans and humidifiers/dehumidifiers) and air conditioning equipment (unitary air conditioners, room air conditioners, and coolers). Similarly, on the basis of end-use, the HVAC (Heating, Ventilation, and Air Conditioning) equipment market is further classified into residential and non residential (commercial and industrial) segment. The geographical distribution of the global HVAC (Heating, Ventilation, and Air Conditioning) equipment market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

1.2    Report Description

Purpose of the Report

The purpose of this strategic research study titled “Global HVAC (Heating, Ventilation, and Air Conditioning) Equipment Market - Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2023” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global HVAC (Heating, Ventilation, and Air Conditioning) industry.

Target Audience

• Industry Investors
• HVAC System Manufacturers
• Integrators and Assemblers
• End-users

USP and Key Offerings

The report titled “Global HVAC (Heating, Ventilation, and Air Conditioning) Equipment Market- Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2023” offers strategic insights into the global HVAC (Heating, Ventilation, and Air Conditioning) industry along with the market size and estimates for the duration 2013 to 2023. The said research study covers in-depth analysis of multiple market segments based on product type, end-use application, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading HVAC equipment manufacturers, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and key developments. Other in-depth analysis provided in the report includes:

• Current and future market trends to justify the forthcoming attractive markets within the HVAC (Heating, Ventilation, and Air Conditioning) market
• Market fuelers, market impediments, and their impact on the market growth
• In-depth competitive environment analysis
• Value Chain Analysis
• Trailing 2-Year market size data (2013 – 2014)
• SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global HVAC (Heating, Ventilation, and Air Conditioning) Equipment market, offering market size and estimates for the period from 2015 to 2023, keeping in mind the above-mentioned factors.

Product Segmentation Analysis

In the base year of 2014, the air conditioning segment comprising unitary air conditioners, coolers, and room air conditioners was the largest product segment, accounting for over two-third of the global HVAC equipment market revenue. The trend is expected to prolong over the forecast period 2015 – 2023. This can be attributed to the anticipated recovery in both residential and non-residential construction expenditures post economic recession. In addition, financial stability post economic recession is expected to trigger the demand for air conditioning systems in both end-use segments. Over the forecast period 2015 – 2023, the heating equipment segment, especially heat pumps and furnaces are poised to exhibit robust growth. Heat pumps having both cooling and heating capabilities are anticipated to witness rising demand from industrial space, while the growth of warm air furnaces is expected to be maximum in the residential segment.

End-use Application Segmentation Analysis

In the base year of 2014, the non-residential (including commercial and industrial) segment accounted for the majority of the global HVAC equipment market revenue share.  The commercial segment was the largest contributor to the non-residential HVAC equipment market, accounting for over 60 percent of the non-residential market in 2014.  The demand for HVAC systems in the non-residential market can be majorly attributed to the need for large, high-cost air conditioning and ventilation systems. Although the segment is expected to retain its leading position, the growth in the residential market is anticipated to be greater than both commercial and industrial markets during the forecast period 2015 – 2023. With the rising population and urbanization, the count of housing units, especially in the emerging economies is anticipated to increase considerably, triggering fresh demand for HVAC equipment installations. However, in both non-residential (commercial and industrial) and residential markets, the replacement demand is expected to be higher than the fresh demand, especially in developed economies.

Geography Segmentation Analysis

In the base year of 2014, Asia Pacific was the largest HVAC (Heating, Ventilation, and Air Conditioning) equipment market. The region accounted for around 52 percent of the global HVAC equipment market revenue in 2014. The trend is expected to continue over the forecast period 2015 – 2023, with the region retaining its leading position. The growth in the region can be attributed to the economic development resulting in infrastructural growth in both consumer and commercial space. China is by far the largest HVAC equipment market in Asia Pacific and is a key exporter to the European and African markets. Furthermore, ever-rising population, growing urbanization, varying environmental conditions, and government regulations promoting green energy solutions are further fueling market momentum in the region. With the developed economies such as North America and Europe recovering from the economic recession, the residential and commercial construction expenditure in the region is expected to regain its growth levels, supporting the market demand.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of HVAC (Heating, Ventilation And Air Conditioning) Equipment market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the HVAC (Heating, Ventilation And Air Conditioning) Equipment market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of HVAC (Heating, Ventilation And Air Conditioning) Equipment market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the HVAC (Heating, Ventilation And Air Conditioning) Equipment market?
• Which is the largest regional market for HVAC (Heating, Ventilation And Air Conditioning) Equipment market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving HVAC (Heating, Ventilation And Air Conditioning) Equipment market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the HVAC (Heating, Ventilation And Air Conditioning) Equipment market worldwide?