Global Heating Ventilation and Air Conditioning Market 2018-2024: Growing Construction Sector Driving the Growth of the Industry

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| Source: Research and Markets

Dublin, June 07, 2018 (GLOBE NEWSWIRE) -- The "Global Heating Ventilation and Air Conditioning Market: Focus on Products (Window and Portable, Mini-splits, Single Packaged, Chillers, VRFs, AHUs and FCUs) , and 37 Countries- Analysis and Forecast (2018-2024)" report has been added to ResearchAndMarkets.com's offering.

The global HVAC market is expected to grow at a CAGR of 4.5% and 2.6% in terms of volume and value during the forecast period. The primary driving factor for this increase in growth is the continued growth in the revenue from the construction sector including government as well private funded projects worldwide.

The global HVAC market can be categorized into windows and portables, mini-splits, packaged units, chillers, Air Handling Units (AHUs) and Fan Coil Units (FCUs), and Variable Refrigerant Flow (VRF) systems, based on product type. Mini split air conditioners generated the maximum sales revenue in 2017, acquiring 56.7% of the total HVAC market. This which can be attributed to its early existence and widespread adoption in the residential sector. The market for split air conditioners is expected to grow at a CAGR of 1.95% during the forecast period (2018-2024). However, the market for packaged air conditioners is expected to grow at the fastest rate having a CAGR of 4.8% during the forecast period owing to the increasing deployment of packaged air conditioners in commercial facilities.

Geographically, Asia dominated the global HVAC market in terms of value in 2017. The Asian HVAC market is expected to grow at a CAGR of 1.91% in terms of value during the forecast period. This dominance can be attributed to the rapid developments in the Chinese HVAC industry. The Asian HVAC market is followed by the North American HVAC market in terms of sales revenue which is expected to grow at a CAGR 3.28%. The growth of the North American market can be attributed to the increased construction activities, rapid urbanization and infrastructural reforms, and HVAC unit replacements, among others.

However, the HVAC market in Oceania is estimated to have the highest CAGR of 5.7% during the forecast period. The HVAC market in this region is witnessing an increase in multiple real estate projects including public and private investments in various residential, commercial, and industrial developments. Also, the economic growth and increasing disposable income of the region has acted as a significant driver for the HVAC market in this region. Other market drivers include hot, humid, and extreme weather conditions, availability of low-cost HVAC products and equipment, and increasing consumer demand for technically innovative HVAC product and equipment, among others.

The global HVAC market has witnessed several strategic and technological developments in the past few years, undertaken by the different market players to strengthen their position in this market. With product launches such as Haier's Internet of Things (IoT) Central Air Conditioner, Trane's IntelliPak, and Fujitsu Limited's AIRSTAGE Series, among others, the industry is witnessing significant developments which are contributing to the growth of the HVAC market.

Key Topics Covered:

Executive Summary

1 Report Scope & Methodology
1.1 Scope of the Report
1.2 HVAC Market Research Methodology

2 Market Dynamics
2.1 Introduction
2.2 Market Drivers
2.2.1 Extreme Weather Conditions
2.2.2 Growing Construction Sector Driving the Growth of HVAC Industry
2.2.3 Increasing Population and Rapid Urbanization
2.3 Market Restraints
2.3.1 Adherence to Stringent Regulations to Maintain Energy Efficiency Standards
2.3.2 Increasing Demand for Energy Worldwide
2.3.3 Alarming issue of Global Warming
2.4 Market Opportunities
2.4.1 Gradual Shift Towards Renewable Source of Energy
2.4.2 Adoption of Environment Friendly Refrigerants
2.4.3 Development of Green Buildings and Smart Cities

3 Competitive Insights
3.1 Key Strategies and Developments
3.1.1 New Product Launches
3.1.2 Partnerships and Collaborations
3.1.3 Mergers and Acquisitions
3.1.4 Others
3.2 Industry Attractiveness

4 Industry Analysis
4.1 Patent Analysis
4.2 Consortiums, Associations and Regulatory Bodies
4.3 Value Chain Analysis

5 Global Heating, Ventilation, and Air Conditioning Market, By Product Type
5.1 Assumptions and Limitations
5.2 Market Overview
5.2.1 Window and Portable Air Conditioners
5.2.2 Mini Split Air Conditioners
5.2.3 Packaged Air Conditioners
5.2.4 Chillers
5.2.5 Air Handling Units & Fan Coil Units (AHUs & FCUs)
5.2.6 Variable Refrigerant Flow (VRF) Systems

6 Global Heating Ventilation and Air Conditioning Market, by Region

7 Company Profiles

  • Carrier
  • Daikin Industries, Ltd.
  • Fujitsu Limited
  • Gree Electric Appliances Inc.
  • Haier
  • Hitachi, Ltd.
  • Johnson Controls International plc
  • LG Electronics
  • Lennox International Inc.
  • Midea Group Co., Ltd.
  • Mitsubishi Electric Corporation
  • Panasonic Corporation
  • SWOT Analysis
  • Samsung Electronics Co., Ltd.
  • Toshiba Corporation
  • Trane
  • Zamil Industrial

For more information about this report visit https://www.researchandmarkets.com/research/9jd5k4/global_heating?w=12

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Related Topics: HVAC (Heating, Ventilation, and Air Conditioning), Doors and Windows