HVAC Market: Overview
HVAC market stood at USD 145 billion in 2018 and is projected to reach USD 183
billion by 2025 with a CAGR of 3.2%. HVAC stands for heating,
ventilation, and air conditioning. It is a technology of vehicular and indoor
environmental comfort. The goal of HVAC is to provide acceptable indoor air
quality and thermal comfort. Further, HVAC systems control the ambient
environment (humidity, temperature, air filtering, and airflow). The modern HVAC
controls systems work with the programmable controllers and computer programs
and maintain and monitor the air quality and temperature in buildings so that
people sitting inside can have healthy indoor air to breath and feel
comfortable. These systems provide automatically switch the humidity levels of
heating and cooling as per the requirement. HVAC systems made to provide
humidity control, and together humidifiers and dehumidifiers added as
selections to heating and cooling systems. Demand from people that live in very
dehydrated atmospheres or the tropics is higher owing to these add-ons to the
HVAC system. People favor installing a distinct humidifier or dehumidifier
systems so that they can control the humidity of their surroundings without
having to turn on the air conditioner. The advanced HVAC systems maintain the
vitality consumption of the building by freezing a substantial amount of water
overnight and provide about 6 hours of cooling in the coming day. Numerous
residential multiplexes and industries are substituting old HVAC systems with
new energy-efficient units for better performance, energy savings, and
HVAC Market forecast and trends
The global HVAC market stood
at USD billion in 2018 and is projected to reach USD billion by 2025. Rising
infrastructure and construction activities along with the focus on the adoption
of energy-efficient HVAC systems, is anticipated to fuel the demand for HVAC
across the globe in the coming years. Rising government initiatives worldwide
and expansion in the research and development activities by the leading
players. Additionally, the increasing temperature in various part of the globe
is reinforcing market growth.
advancements are strengthening the capabilities of HVAC systems and offer a
wide range of benefits to the customers. New air purifying technologies,
integrated HVAC systems, and wireless interface solution are generating huge
demand for HVAC across the globe.
Enhanced Indoor Air
Quality and Reduced Risk of Illnesses
Increasing temperature and
air pollution worldwide triggering diseases such as asthma or allergy symptoms,
leading to sore throats, rashes, and eye irritation. HVAC systems offer
improved air quality by continuously replacing the indoor air with fresh,
outdoor air, and comfort to prevent the risk of illness.
High maintenance and
installation cost of HVAC systems
HVAC comprises of many
systems including heating system, water heater, circulation pump boiler or
controls, which further increase maintenance costs and also face the possible
leakage problems. Installation of combined systems is costly and hard to
operate, which hamper the growth of the market.
HVAC Market: type analysis
Based on HVAC type, the HVAC
market characterized by heating, ventilation, and cooling. The heating segment
further divided into the Furnaces, Heat Pumps, Boilers, and Unitary Heaters.
Ventilation segment is subdivided into the Humidifiers/Dehumidifiers, Air
Cleaners, and Ventilation Fans. Cooling segmented is further bifurcated into
the Ducted Split/Packaged Unit, Split Units and Chillers. Cooling segment is
expected to register the highest market share in 2018 and estimated to reach
USD XXX billion by 2025. Increasing temperature and growing disposable income
have been the main drivers for the growing demand for HVAC systems across the
Global HVAC Market:
Based on the End-user, the
market bifurcated into the Commercial, Industrial, and Residential. Commercial
is the leading end-user segment, primarily driven by the increasing number of
workplaces and constructions and booming hospitality sector worldwide.
Furthermore, enticements and allowances plans offered by several governments to
encourage the use of energy-efficient units is estimated to strengthen the HVAC
market growth. Additionally, renovation and innovative construction of
domestic, commercial, or industrial buildings involve HVAC systems. These
dynamics are anticipated to boost the market expansion during the forecast
HVAC Market: Regional insights
Geographically, the market
is divided into North America, Europe, Asia Pacific, Middle East & Africa,
and Latin America. Asia-Pacific is the leading region owing to technological
advancements such as IoT sensors, wireless control systems, and hybrid HVAC
units, to offer optimal comfort with condensed vitality consumption. Many
leading producers are capitalizing in Research and development activities to
cultivate cost and energy-efficient components; which will fuel the product
demand. Additionally, rising real estate sector across the region as a result
of a growing population will also have a progressive impact on the growth of
The objective of
To analyze and forecast the global HVAC market size of the market,
in terms of value.
To examine the careful market segmentation and forecast the market
size, in terms value, based on the region by segmenting the global HVAC market
into five regions, namely, North America, Europe, Asia Pacific, Middle East,
South America and their leading countries.
To outline, categorized and forecast the global HVAC market based
on the type and Application.
To examine competitive developments like technological
advancement, services, and regulative framework within the global HVAC Market.
To highlight the impact analysis of the factors, affecting the
market dynamics such as drivers, restraints, opportunities, and challenges.
To strategically profile the key players and comprehensively
analyze their market shares along with detailing the competitive landscape for
Scope of the
By HVAC Type
East & Africa
Daikin Industries Ltd
Gree Electric Appliances
Samsung Electronics Co. Ltd
Lennox International Inc.
LG Electronics Inc
Questions answer by the report
How will the market drivers, restraints and opportunities affect
the market dynamics?
What will be the market size in terms of value and volume and
market statistics with a detailed classification?
Which segment dominates the market or region and one will be the
fastest growing and why?
A comprehensive survey of the competitive landscape and the market
Analysis of strategy adopted by the key player and their impact on
Scope for the Client
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additional company detail analysis