NEW JERSEY, UNITED STATES, December 6, 2021 /EINPresswire.com/ — Description
New Research Study “”HVAC Equipment Market 2021 analysis by Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges and Investment Opportunities), Size, Share and Outlook”” has been added to Coherent Market insight
Global HVAC equipment market is estimated to be valued at US$ 145.09 billion in 2021 and is expected to exhibit a CAGR of 7.7 % over the forecast period (2021-2028)
HVAC refers to heating, ventilation, and air conditioning, which is used in buildings to regulate the indoor climate. It also helps in improving indoor air quality. The majority of these systems are centralized for heat, air, and forced displacement of ventilation.
This report includes information on the industry’s market growth as well as key segmentation variables that help the global HVAC Equipment Market prosper in today’s environment. The report also emphasises the importance of regional classification in the global HVAC Equipment Market. Due to growing demand, the worldwide HVAC Equipment Market will eventually create more revenue and have a higher market size than the previous projected period.
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Major Key players in this Market:
United Technologies Corporation (Carrier)
Daikin Industries. Ltd.
Lennox International Inc.
Drivers & Trends
Technological advancements are expected to boost the global HVAC equipment market growth over the forecast period. HVAC system manufacturers are focused on the development of efficient solutions, in order to cater to customer requirements and fulfill the supply gap for energy. This, in turn, is expected to help consumers to reduce their energy bills and support product adoption. For instance, in 2013, LG Corporation introduced a new commercial air conditioning systems which were targeted at diversified market demands. Innovative technologies such as smart sensors based HVAC equipment, home automation, multi-functional equipment, and HVAC systems with green refrigerants, and many others, are thus helping in meeting customer requirements.
The HVAC Equipment market is divided into five areas, each with its own development possibilities and current trends: Latin America, North America, Asia Pacific (APAC), Europe, and the Middle East and Africa. The report was created through extensive research and analysis, as well as examination of numerous elements that may influence regional growth, such as each region’s economic, political, environmental, technical, and social condition. It also includes a complete analysis of each region’s recognised manufacturers, production, and revenue, as well as the top influencing elements, critical data, and data segmented both regionally and globally.
Method of Research
The purpose of this section’s research is to examine the HVAC Equipment market over the course of the review period using several validated metrics based on Porter’s Five Force Model. As a result, a thorough examination of the market aids in identifying and emphasising the market’s primary strengths and weaknesses as it progresses. Furthermore, the study was created using a combination of primary and secondary research, including interviews, surveys, and observations from seasoned analysts, as well as reliable paid sources, trade magazines, and industry body databases. Beyond important points in the industry’s value chain, the study includes a complete qualitative and quantitative assessment based on data gathered from industry analysts and market players.
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Global HVAC Equipment Market: Recent Developments
In March 2021, Haier India introduces hot and cold 3-star AC is available in 1.5-ton cooling capacity and comes with Triple Inverter Plus technology that self-adjusts temperature and promises up to 65% energy savings.
In October 2020, Lennox International launched Building Better Air initiative to improve the indoor air quality (IAQ) of commercial spaces. This initiative combines the company’s innovative product line and industry leading building services to provide comprehensive IAQ solutions for various commercial applications.
In October 2021, Lennox Industries signed partnered with HVAC dealers across the U.S. and Canada to install 130 HVAC units in 37 U.S. states and 5 Canadian provinces as part of the company’s Feel The Love program.
Major market players are focused on capacity and business expansion, in order to enhance the market presence. For instance, in March 2019, Haier Inc. inaugurated a new manufacturing facility to increase production capacity in China.
Key companies are involved business expansion, in order to gain a competitive edge in the market. For instance, in December 2019, Samsung Electronics set a new division for AC business in India.
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December 06, 2021, 10:50 GMT
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