CHICAGO, Jan. 24, 2023 /PRNewswire/ — According to Arizton’s latest research report, the global HVAC market will grow at a CAGR of 5% from 2022 to 2028. The replacement of existing equipment with energy-efficient products, the emergence of IoT and product innovations to aid replacements, and Europe’s climatic conditions and heatwave propelling the demand for HVAC systems t. APAC holds the most prominent market share. Energy-efficient HVAC technology innovation for residential and commercial buildings has the potential to provide both environmental and economic benefits. Optimizing energy-efficient HVAC technologies and proper installation planning can help achieve up to 40% energy savings. As a result, replacing existing equipment with energy-efficient HVAC technologies will drive future market growth.
HVAC Market
The automated fault detection and diagnostics functionality of a smart HVAC system is a proactive approach that enables end users to conduct proactive maintenance and ensure the best performance of their assets. Additionally, IoT-powered HVAC systems enable users to have centralized visibility and accessibility, as smart HVAC systems can be accessed remotely using a smartphone. In 2021, nearly 31 billion IoT devices were in use worldwide. Smart IoT HVAC systems provide advanced comfort, lowered energy bills, and increased functionality for residential and commercial end users.
Global HVAC Market Report Scope
|
Report Attributes |
Details |
|
Market Size (2028) |
USD 309 Billion |
|
Market Size (2022) |
USD 225 Billion |
|
CAGR (2022-2028) |
5.43 % |
|
Base Year |
2022 |
|
Forecast Year |
2023-2028 |
|
Market Segments |
Heating, Ventilation, Air Conditioning, End-user, and Geography |
|
Geographic Analysis |
North America, Europe, APAC, Latin America, and Middle East & Africa |
|
Key Leading Companies |
China, India, Japan, Australia, the US, Canada, Western Europe (Germany, France, the UK, Italy, and the Netherlands), Nordic (Norway, Denmark, Sweden, and Others), Central & Eastern Europe (Russia, Poland & Austria, and Other CEE Countries), Brazil, Mexico, Argentina, Saudi Arabia, the UAE, and South Africa |
|
Key Prominent Vendors |
Systemair, Johnson Controls, Zehnder, Ostberg, Aldes, Bosch, Daikin, Samsung, Mitsubishi Electric, LG, Panasonic, Carrier, Midea, Regal, Raytheon Technologies, Honeywell, Flakt Group, Beijer Ref, Flexit, Grundfos, Swegon, VTS, Nuaire, Nortek, Alfa Laval, Hitachi, Lu-Ve, Vent-Axia, Rosenberg, S & P, WOLF, CIAT, AL-KO, DynAIR, Danfoss, Lennox, Backer Springfield, Dunham-Bush, TCL, TROX, Vaillant Group, Ingersoll Rand, and Camfil |
|
Page Number |
338 |
|
Market Dynamics |
· Rising Construction Industry · Airport Modernization · The Growing VRF Systems |
|
Customization Request |
If our report does not include the information you are searching for, you may contact us to have a report tailored to your specific business needs https://www.arizton.com/customize-report/3636 |
Click Here to Download the Free Sample Report
MARKET TRENDS & OPPORTUNITIES
Modernization of Aviation Industry Strengthening the Demand for HVAC
The adoption of new technologies and an increase in airport infrastructure development have caused frequent changes in the aviation industry. Most countries are revamping their air transportation system by expanding their existing airports and constructing new airports to handle the expansion of passenger and freight traffic. Such expansion measures will enable existing airports to enhance their operational efficiency and handle the robust growth in passenger traffic year after year. Consequently, there will be a considerable rise in airport construction projects in the coming years, propelling the demand for HVAC systems in the upcoming years. Moreover, operators seek passengers who spend most of their time in airports to generate more revenue per passenger (non-aircraft income). Service and maintenance visits at airports are strictly punctual and high revenue generators for the industry. Thus, such measures are expected to boost the requirement for bigger and better HVAC facilities at the airport to augment the passenger handling capacity.
Increasing Adoption of VRF Systems Leveraging High Demand for HVAC
Germany’s demand for centralized air conditioning solutions, especially chillers and VRF systems, has significantly increased in recent years. However, in many places, VRF systems are replacing chillers. The sales of VRF systems are expected to rise in tune with global trends as they help save operational costs. The UK market is strongly connected to European business trends and driven by construction activities in London. Thus, VRF systems will play a vital role in the growth of the global HVAC market in the coming years.
Buildings with multiple zones can install sophisticated VRF models. VRFs are expected to grow rapidly due to a considerable surge in construction activities and the focus of end users on energy efficiency, modularity, and ease of installation. In the commercial sector, the real estate market’s expansion and the construction market’s revival will propel the demand for VRF systems in the near future.
Key Company Profiles
-
Systemair
-
Johnson Controls
-
Zehnder
-
Ostberg
-
Aldes
-
Bosch
-
Daikin
-
Samsung
-
Mitsubishi Electric
-
LG
-
Panasonic
-
Carrier
-
Midea
-
Regal
-
Raytheon Technologies
-
Honeywell
-
Flakt Group
-
Beijer Ref
-
Flexit
-
Grundfos
-
Swegon
-
VTS
-
Nuaire
-
Nortek
-
Alfa Laval
-
Hitachi
-
Lu-Ve
-
Vent-Axia
-
Rosenberg
-
S & P
-
WOLF
-
CIAT
-
AL-KO
-
DynAIR
-
Danfoss
-
Lennox
-
Backer Springfield
-
Dunham-Bush
-
TCL
-
TROX
-
Vaillant Group
-
Ingersoll Rand
-
Camfil
Market Segmentation
Equipment
-
Heating
-
Air Conditioning
-
Ventilation
End-user
Geography
Click Here to Download the Free Sample Report
Check Out Some of the Top-Selling Research Related Reports:
Europe HVAC Market – The Europe HVAC market is expected to reach USD 86.49 billion by 2028. The market is undergoing tremendous modifications due to the increasing integration of IoT technology with HVAC products, making them more innovative and accessible. The emphasis on connecting several sensors within building ecosystems, including HVAC, has grown for achieving energy efficiency.
Data Center Precision Air Conditioning Market – The data center precision air conditioning market is expected to grow at a CAGR of 5.01% from 2022 to 2027. In 2021, the global data center cooling market witnessed steady growth after COVID-19. The data center industry was considered an essential service that led to a considerable increase in power capacity due to the service demand during COVID-19. In addition, the development of hyperscale data centers with a power capacity of over 30 MW will continue to drive market growth throughout the forecast period with the adoption of cooling infrastructure in higher numbers.
Pool Heat Pump Market – The global pool heat pump market is expected to reach USD 7.99 billion by 2027. Heat pumps are significant for substantial and immediate carbon savings compared with the other modes of current heating systems. Heat decarbonization is a major priority that compels economies to strive and implement wide-scale adoption of appliances with lower carbon emissions.
U.S. HVAC Market – U.S. HVAC market size to cross USD 37 billion by 2025. Several key air-conditioners and heating equipment manufacturers have introduced smart applications with voice assistance features. Therefore, the increasing collaboration between IoT and HVAV technology offers high visibility into energy usage trends and helps to improve further and simplify operational efficiency, which is expected to augur well for market growth.
Table of Content
1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF STUDY
4.4 MARKET SEGMENTATION
4.4.1 MARKET SEGMENTATION BY EQUIPMENT
4.4.2 MARKET SEGMENTATION BY HEATING EQUIPMENT
4.4.3 MARKET SEGMENTATION BY AIR CONDITIONING EQUIPMENT
4.4.4 MARKET SEGMENTATION BY VENTILATION EQUIPMENT
4.4.5 MARKET SEGMENTATION BY END USER
4.4.6 MARKET SEGMENTATION BY GEOGRAPHY
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 PREMIUM INSIGHTS
7 MARKET AT A GLANCE
8 INTRODUCTION
8.1 OVERVIEW
8.1.1 ADVANTAGES OF SMART HVAC SYSTEMS
8.1.2 DISADVANTAGES OF SMART HVAC SYSTEMS
8.1.3 INITIATIVES FOR BETTER RISK MANAGEMENT
8.1.4 MEASURES TO IMPROVE PROFIT MARGINS
8.1.5 CHALLENGES ASSOCIATED WITH HVAC SYSTEMS FOR RESIDENTIAL AND COMMERCIAL USE
8.1.6 RECENT MERGERS & ACQUISITIONS AND PRODUCT DEVELOPMENT INITIATIVES
8.1.7 DEVELOPMENT OF ENVIRONMENT-FRIENDLY HVAC EQUIPMENT
8.1.8 IMPACT OF RESIDENTIAL CONSTRUCTION PROJECTS
8.1.9 IMPACT OF NON-RESIDENTIAL CONSTRUCTION PROJECTS
8.1.10 CHALLENGES ASSOCIATED WITH HVAC EQUIPMENT FOR RESIDENTIAL AND COMMERCIAL USE
8.2 VALUE CHAIN
8.2.1 RAW MATERIAL SUPPLIERS & COMPONENTS
8.2.2 MANUFACTURERS
8.2.3 DEALERS /DISTRIBUTORS
8.2.4 RETAILERS
8.2.5 END USERS
8.3 IMPACT OF COVID-19
9 MARKET OPPORTUNITY & TRENDS
9.1 REPLACEMENT OF EXISTING HVAC EQUIPMENT WITH ENERGY-EFFICIENT PRODUCTS
9.2 EMERGENCE OF IOT AND PRODUCT INNOVATIONS TO AID REPLACEMENTS
9.3 ADVERSE CLIMATIC CONDITIONS & HIGH DEMAND FOR HVAC SYSTEMS
10 MARKET GROWTH ENABLERS
10.1 GROWTH OF THE GLOBAL CONSTRUCTION INDUSTRY
10.2 SURGE IN AIRPORT MODERNIZATION PROJECTS WORLDWIDE
10.3 RISE IN DEMAND FOR VRF SYSTEMS
11 MARKET RESTRAINTS
11.1 LOW AVAILABILITY OF SKILLED LABOR
11.2 STRINGENT REGULATORY ENVIRONMENTS WORLDWIDE
11.3 IMPLICATIONS OF THE COVID-19 OUTBREAK
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.1.1 HIGHLIGHTS
12.2 MARKET SIZE & FORECAST
12.2.1 VALUE
12.3 FIVE FORCES ANALYSIS
12.3.1 THREAT OF NEW ENTRANTS
12.3.2 BARGAINING POWER OF SUPPLIERS
12.3.3 BARGAINING POWER OF BUYERS
12.3.4 THREAT OF SUBSTITUTES
12.3.5 COMPETITIVE RIVALRY
13 EQUIPMENT
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.2.1 KEY INSIGHTS
13.3 HEATING
13.3.1 MARKET OVERVIEW
13.3.2 MARKET SIZE & FORECAST
13.3.3 MARKET BY GEOGRAPHY
13.3.4 HEAT PUMPS: MARKET SIZE & FORECAST
13.3.5 BOILER UNITS: MARKET SIZE & FORECAST
13.3.6 FURNACES: MARKET SIZE & FORECAST
13.3.7 OTHER HEATING EQUIPMENT: MARKET SIZE & FORECAST
13.4 AIR CONDITIONING
13.4.1 MARKET OVERVIEW
13.4.2 KEY TAKEAWAYS
13.4.3 MARKET BY GEOGRAPHY
13.4.4 RAC: MARKET SIZE & FORECAST
13.4.5 CAC: MARKET SIZE & FORECAST
13.4.6 CHILLERS: MARKET SIZE & FORECAST
13.4.7 HEAT EXCHANGER: MARKET SIZE & FORECAST (INCLUDES COOLING TOWERS)
13.4.8 OTHER AIR CONDITIONING EQUIPMENT: MARKET SIZE & FORECAST
13.5 VENTILATION
13.5.1 MARKET OVERVIEW
13.5.2 MARKET SIZE & FORECAST
13.5.3 MARKET BY GEOGRAPHY
13.5.4 AIR HANDLING UNITS: MARKET SIZE & FORECAST
13.5.5 AIR FILTERS: MARKET SIZE & FORECAST
13.5.6 HUMIDIFIERS & DEHUMIDIFIERS: MARKET SIZE & FORECAST
13.5.7 FAN COIL UNITS: MARKET SIZE & FORECAST
13.5.8 OTHER VENTILATION EQUIPMENT: MARKET SIZE & FORECAST
14 END USER
14.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
14.2 MARKET OVERVIEW
14.3 RESIDENTIAL
14.3.1 MARKET OVERVIEW
14.3.2 MARKET SIZE & FORECAST
14.3.3 MARKET BY GEOGRAPHY
14.4 COMMERCIAL
14.4.1 MARKET OVERVIEW
14.4.2 MARKET SIZE & FORECAST
14.4.3 MARKET BY GEOGRAPHY
14.4.4 OFFICE SPACES: MARKET SIZE & FORECAST
14.4.5 AIRPORTS & PUBLIC UTILITIES: MARKET SIZE & FORECAST
14.4.6 HOSPITALITY: MARKET SIZE & FORECAST
14.4.7 HOSPITALS: MARKET SIZE & FORECAST
14.4.8 INDUSTRIAL AND OTHERS: MARKET SIZE & FORECAST
15 GEOGRAPHY
15.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
15.2 GEOGRAPHY OVERVIEW
16 APAC
16.1 MARKET OVERVIEW
16.1.1 GROWTH FACTORS:
16.2 MARKET SIZE & FORECAST
16.3 EQUIPMENT
16.3.1 MARKET SIZE & FORECAST
16.4 HEATING
16.4.1 MARKET SIZE & FORECAST
16.5 AIR CONDITIONING
16.5.1 MARKET SIZE & FORECAST
16.6 VENTILATION
16.6.1 MARKET SIZE & FORECAST
16.7 END USER
16.7.1 MARKET SIZE & FORECAST
16.8 COMMERCIAL APPLICATION
16.8.1 MARKET SIZE & FORECAST
16.9 KEY COUNTRIES
16.9.1 CHINA: MARKET SIZE & FORECAST
16.9.2 JAPAN: MARKET SIZE & FORECAST
16.9.3 INDIA: MARKET SIZE & FORECAST
16.9.4 AUSTRALIA: MARKET SIZE & FORECAST
17 EUROPE
17.1 MARKET OVERVIEW
17.2 EQUIPMENT
17.2.1 MARKET SIZE & FORECAST
17.3 HEATING
17.3.1 MARKET SIZE & FORECAST
17.4 AIR CONDITIONING
17.4.1 MARKET SIZE & FORECAST
17.5 VENTILATION
17.5.1 MARKET SIZE & FORECAST
17.6 END USER
17.6.1 MARKET SIZE & FORECAST
17.7 COMMERCIAL APPLICATION
17.7.1 MARKET SIZE & FORECAST
18 WESTERN EUROPE
18.1 MARKET OVERVIEW
18.2 MARKET SIZE & FORECAST
18.3 EQUIPMENT
18.3.1 MARKET SIZE & FORECAST
18.4 END USER
18.4.1 MARKET SIZE & FORECAST
18.5 KEY COUNTRIES
18.5.1 GERMANY: MARKET SIZE & FORECAST
18.5.2 FRANCE: MARKET SIZE & FORECAST
18.5.3 UK: MARKET SIZE & FORECAST
18.5.4 ITALY: MARKET SIZE & FORECAST
18.5.5 NETHERLANDS: MARKET SIZE & FORECAST
19 NORDIC
19.1 MARKET OVERVIEW
19.2 MARKET SIZE & FORECAST
19.3 EQUIPMENT
19.3.1 MARKET SIZE & FORECAST
19.4 END USER
19.4.1 MARKET SIZE & FORECAST
19.5 KEY COUNTRIES
19.5.1 NORWAY: MARKET SIZE & FORECAST
19.5.2 DENMARK: MARKET SIZE & FORECAST
19.5.3 SWEDEN: MARKET SIZE & FORECAST
19.5.4 OTHER NORDIC COUNTRIES: MARKET SIZE & FORECAST
20 CENTRAL & EASTERN EUROPE (CEE)
20.1 MARKET OVERVIEW
20.2 MARKET SIZE & FORECAST
20.3 EQUIPMENT
20.3.1 MARKET SIZE & FORECAST
20.4 END USER
20.4.1 MARKET SIZE & FORECAST
20.5 KEY COUNTRIES
20.5.1 RUSSIA: MARKET SIZE & FORECAST
20.5.2 POLAND & AUSTRIA: MARKET SIZE & FORECAST
20.5.3 OTHER CEE COUNTRIES: MARKET SIZE & FORECAST
21 NORTH AMERICA
21.1 MARKET OVERVIEW
21.2 MARKET SIZE & FORECAST
21.3 EQUIPMENT
21.3.1 MARKET SIZE & FORECAST
21.4 HEATING
21.4.1 MARKET SIZE & FORECAST
21.5 AIR CONDITIONING
21.5.1 MARKET SIZE & FORECAST
21.6 VENTILATION
21.6.1 MARKET SIZE & FORECAST
21.7 END USER
21.7.1 MARKET SIZE & FORECAST
21.8 COMMERCIAL APPLICATION
21.8.1 MARKET SIZE & FORECAST
21.9 KEY COUNTRIES
21.10 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
21.10.1 US: MARKET SIZE & FORECAST
21.10.2 CANADA: MARKET SIZE & FORECAST
22 LATIN AMERICA
22.1 MARKET OVERVIEW
22.2 MARKET SIZE & FORECAST
22.3 EQUIPMENT
22.3.1 MARKET SIZE & FORECAST
22.4 HEATING
22.4.1 MARKET SIZE & FORECAST
22.5 AIR CONDITIONING
22.5.1 MARKET SIZE & FORECAST
22.6 VENTILATION
22.6.1 MARKET SIZE & FORECAST
22.7 END USER
22.7.1 MARKET SIZE & FORECAST
22.8 COMMERCIAL APPLICATION
22.8.1 MARKET SIZE & FORECAST
22.9 KEY COUNTRIES
22.10 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
22.10.1 BRAZIL: MARKET SIZE & FORECAST
22.10.2 MEXICO: MARKET SIZE & FORECAST
22.10.3 ARGENTINA: MARKET SIZE & FORECAST
23 MIDDLE EAST & AFRICA
23.1 MARKET OVERVIEW
23.2 MARKET SIZE & FORECAST
23.3 EQUIPMENT
23.3.1 MARKET SIZE & FORECAST
23.4 HEATING
23.4.1 MARKET SIZE & FORECAST
23.5 AIR CONDITIONING
23.5.1 MARKET SIZE & FORECAST
23.6 VENTILATION
23.6.1 MARKET SIZE & FORECAST
23.7 END USER
23.7.1 MARKET SIZE & FORECAST
23.8 COMMERCIAL APPLICATION
23.8.1 MARKET SIZE & FORECAST
23.9 KEY COUNTRIES
23.10 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
23.10.1 SAUDI ARABIA: MARKET SIZE & FORECAST
23.10.2 UAE: MARKET SIZE & FORECAST
23.10.3 SOUTH AFRICA: MARKET SIZE & FORECAST
24 COMPETITIVE LANDSCAPE
24.1 COMPETITION OVERVIEW
25 KEY COMPANY PROFILES
25.1 SYSTEMAIR
25.1.1 BUSINESS OVERVIEW
25.1.2 PRODUCT OFFERINGS
25.1.3 KEY STRATEGIES
25.1.4 KEY STRENGTHS
25.1.5 KEY OPPORTUNITIES
25.2 JOHNSON CONTROLS
25.3 ZEHNDER
25.4 OSTBERG
25.5 ALDES
25.6 BOSCH
25.7 DAIKIN
25.8 SAMSUNG
25.9 MITSUBISHI ELECTRIC
26 OTHER PROMINENT VENDORS
26.1 LG
26.1.1 BUSINESS OVERVIEW
26.1.2 PRODUCT OFFERINGS
26.2 PANASONIC
26.3 CARRIER
26.4 MIDEA
26.5 REGAL REXNORD CORPORATION
26.6 RAYTHEON TECHNOLOGIES CORPORATION
26.7 HONEYWELL
26.8 FLAKT GROUP
26.9 BEIJER REF
26.10 FLEXIT
26.11 GRUNDFOS
26.12 SWEGON
26.13 VTS
26.14 NUAIRE
26.15 NORTEK
26.16 ALFA LAVAL
26.17 HITACHI
26.18 LU-VE
26.19 VENT-AXIA
26.20 ROSENBERG
26.21 S & P
26.22 WOLF
26.23 CIAT
26.24 AL-KO
26.25 DYNAIR
26.26 DANFOSS
26.27 LENNOX
26.28 BACKER SPRINGFIELD
26.29 DUNHAM BUSH
26.30 TCL
26.31 TROX
26.32 VAILLANT GROUP
26.33 INGERSOLL RAND
26.34 CAMFIL
27 REPORT SUMMARY
27.1 KEY TAKEAWAYS
27.2 STRATEGIC RECOMMENDATIONS
28 QUANTITATIVE SUMMARY
28.1 MARKET BY GEOGRAPHY
28.1.1 MARKET SIZE & FORECAST
28.2 MARKET BY EQUIPMENT
28.2.1 MARKET SIZE & FORECAST
28.3 MARKET BY AIR CONDITIONING EQUIPMENT
28.3.1 MARKET SIZE & FORECAST
28.4 MARKET BY HEATING EQUIPMENT
28.4.1 MARKET SIZE & FORECAST
28.5 MARKET BY VENTILATION EQUIPMENT
28.5.1 MARKET SIZE & FORECAST
28.6 MARKET BY END USER
28.6.1 MARKET SIZE & FORECAST
28.7 MARKET BY COMMERCIAL APPLICATION
28.7.1 MARKET SIZE & FORECAST
29 APPENDIX
29.1 ABBREVIATIONS
About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Click Here to Contact Us
Call: +1-312-235-2040
+1 302 469 0707
Mail: enquiry@arizton.com
Photo: https://mma.prnewswire.com/media/1988930/HVAC_Market.jpg
Logo: https://mma.prnewswire.com/media/818553/Arizton_Logo.jpg
Arizton Logo (PRNewsfoto/Arizton Advisory & Intelligence)
Cision
View original content to download multimedia:https://www.prnewswire.com/news-releases/according-to-arizton-the-global-hvac-market-to-reach-usd-309-billion-growing-at-a-cagr-of-5-during-2022-2028-systemair-samsung-daikin–bosch-identified-among-the-top-vendors-301729147.html
SOURCE Arizton Advisory & Intelligence
