/EIN News/ — New York, Oct. 25, 2021 (GLOBE NEWSWIRE) — Equipment for HVAC Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Equipment for HVAC Market Research Report, Equipment and Region – Forecast till 2028” the market size is projected to be worth USD 368.14 billion by 2028, registering a CAGR of 7.51% during the forecast period (2021 – 2028), The market was valued at USD 211.87 billion in 2020.
List of the companies profiled in the HVAC Equipment Market research report are–
- Sensata Technologies (US)
- Saginomiya Seisakuusho (Tokyo)
- Jiangsu Match Well Electrical Products Co. Ltd (China)
- Honeywell International Inc. (US)
- Arrow Electronic Inc. (US)
- Basler Electric (Illinois)
- Diversitech (US)
- Dongan Electronic Manufacturing Company (US)
- General Electric (US)
- Hartland Controls (US)
- Lefco Industrial Corporation Ltd (China)
- Motors&Armatures Inc. (US)
- Noark Electric (Czech Republic)
- Nueva Generaction Manufacture (México)
- Parker Hannifin Corporation (US)
- Sealed Unit Parts Co. Inc. (US)
- American Zettler (US)
- DANFOSS (Denmark)
- Emerson Electric (US)
- Mueller Co (US)
- SANHUA Holdings Group Co Ltd (China)
- Eaton Corporation (Ireland)
- Among others.
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Market Research Future’s Review on Equipment for HVAC Market
The worldwide HVAC equipment market is distinguished by the presence of numerous local, regional, and global vendors. The market is extremely competitive, with all competitors constantly fighting for a larger market share. High competition, quick technology breakthroughs, frequent changes in government policy, and severe environmental regulations are all important issues that could limit the market growth. Vendors compete on price, product quality, dependability, and aftermarket services. To live and succeed in a competitive market, vendors must offer cost-effective and efficient products.
Browse In-depth Market Research Report (188 pages) on Equipment for HVAC
Increasing Need for Fire Safety Solutions
Fire safety solutions are critical for assuring safety and reducing fatalities and property loss. Several fire-related accidents in residential, commercial, and industrial environments have resulted in several deaths in recent years. To avert such losses, architects and engineers must integrate fire safety solutions in residential, commercial, and industrial structures. HVAC and fire protection insulation systems are fire-rated ventilation ducts that safeguard the property from fire hazards.
Stringent Government Regulations
Fire protection is a crucial component of enterprise safety, and businesses must adhere to regulatory bodies’ guidelines. Various fire safety technologies, including HVAC systems, have seen significant acceptance in residential, commercial, and industrial environments during the last few decades. Furthermore, stringent government and regulatory body rules have compelled them to install HVAC and fire protection insulation systems on their facilities. HVAC systems are required in these businesses to prevent the spread of fire and heat between two compartments in buildings.
Increasing Demand from Emerging Economies
The fast development of the residential, commercial, industrial, and public sectors in emerging economies such as South Africa, Qatar, Indonesia, Chile, and India has resulted from population growth and increases in per capita disposable income. As part of the country’s economic progress, these countries prioritize the development of diverse commercial, industrial, and public spaces. The growing use of HVAC and fire protection insulation systems in emerging countries is likely to provide lucrative growth prospects for HVAC system manufacturers, allowing them to expand their operations in economies with high growth potential.
Industrialization has been a major driving driver for the HVAC equipment market because HVAC equipment is utilized in industries, hence increasing the market for HVAC equipment. This process is followed by technological and organizational developments, which result in increased productivity, higher living standards, population expansion, urbanization, cultural transitions, and modifications in the balance of power among countries.
Cases of Product Failure
The effective functioning of HVAC and fire protection insulation systems improves the safety of residential, commercial, industrial, and public buildings, resulting in fewer deaths and financial losses. The HVAC system and fire prevention insulation keep the flames from spreading. Because of its construction, type, building size, orientations, and other combinations, the right selection of a ductwork system is complex.
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The global equipment for HVAC market has been segmented into equipment
By equipment, the global equipment for HVAC market has been segmented into Pressure Switches, Pressure Transducers, Capacitors, Contactors, Transformers, Filter Drier, Sight Glasses, and Reversing Valves.
North America to Dominate the Global Market
North America is a significant region in the HVAC equipment market. A high adoption rate of HVAC systems has been observed in North America due to a variety of factors, including highly energy-efficient systems, most notably, and power-saving techniques. This region’s construction sector is expanding, with increased activity in commercial buildings, data centers, hospitals, and institutes.
Segmentation of Market covered in the research:
Equipment for HVAC Market Research Report: Information by Equipment (Pressure Switches, Pressure Transducers, Capacitors, Contactors, Transformers, Filter Drier, Sight Glasses, and Reversing Valves), and Region (North America, South America Europe, Asia-Pacific, and Rest of the World)—Forecast till 2028
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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October 25, 2021, 17:13 GMT
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