Purchase our full report to know the exact growth variance and future growth opportunities in the residential HVAC market.
Start by Downloading a Free Sample
Residential HVAC Market: Segmentation Analysis
The 120-page report segments the residential HVAC market by product (air conditioning systems, heating systems, and ventilation system) and geography (APAC, Europe, North America, MEA, and South America).
By product, the market witnessed significant growth in the air conditioning systems segment in 2020. Factors such as increasing population density and rapid urbanization are driving the demand for air conditioning systems. The market growth in this segment will be significant over the forecast period. Similarly, in terms of geography, the market will observe maximum growth in APAC. The region currently holds 60% of the global market share and will continue to remain as the largest market for residential HVAC during the forecast period. Increasing population, rising urbanization, and the increased need for smart and sustainable infrastructure solutions will fuel the growth of the market in APAC.
Residential HVAC Market: Growth Drivers
The residential HVAC market is driven by the availability of energy-efficient HVAC systems. Growing concerns over the environmental damage caused by HVAC systems have forced governments to frame stricter regulations to monitor chlorofluorocarbon and hydrofluorocarbon levels during the production of these systems. To comply with such regulations, vendors in the market are starting to offer energy-efficient HVAC systems for end-user applications. The increasing availability of such systems is encouraging residential users to shift from traditional HVAC systems to more energy-efficient ones. All these factors are positively influencing the growth of the market.
In addition, changing climatic conditions worldwide will further accelerate the market growth. However, increasing competition levels might adversely impact the growth of the market during the forecast period.
Some of key Residential HVAC Players:
Carrier Global Corp.: The company offers a wide range of residential HVAC such as air conditioning, furnaces, heat pumps, ductless systems, healthy homes, thermostats, and many more.
Daikin Industries Ltd.: The company offers a wide range of residential HVAC such as total heating and hot water solution, split and multi-split type air conditioning systems, and gas furnaces.
Danfoss AS: The company offers a wide range of residential HVAC such as heat pumps, room temperature control, smart heating, underfloor heating, energy metering, and frost and snow protection.
Haier Smart Home Co. Ltd.: The company offers multi-spit and mono-split air conditioning units, and ductless mini split systems such as MRV Series Multi Zone Air Conditioners, MRV-S Series Outdoor, and many more.
Johnson Controls International Plc: The company offers a wide range of residential HVAC such as air-cooled chillers, water-cooled chillers, condensing units, and absorption chillers.
Download a Free Sample to discover other dominant players highlighted in our full report.
Residential HVAC Market Product Outlook (Revenue, USD Bn, 2020-2025)
- Air conditioning systems – size and forecast 2020-2025
- Heating systems – size and forecast 2020-2025
- Ventilation system – size and forecast 2020-2025
Residential HVAC Market Geography Outlook (Revenue, USD Bn, 2020-2025)
- APAC – size and forecast 2020-2025
- Europe – size and forecast 2020-2025
- North America – size and forecast 2020-2025
- MEA – size and forecast 2020-2025
- South America – size and forecast 2020-2025
Related Reports:
HVAC Services Market by End-user and Geography – Forecast and Analysis 2021-2025
Industrial HVAC Market by End-user and Geography – Forecast and Analysis 2021-2025
|
Residential HVAC Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2020 |
|
Forecast period |
2021-2025 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 8.46% |
|
Market growth 2021-2025 |
USD 33.02 billion |
|
Market structure |
Fragmented |
|
YoY growth (%) |
4.99 |
|
Regional analysis |
APAC, Europe, North America, MEA, and South America |
|
Performing market contribution |
APAC at 60% |
|
Key consumer countries |
China, US, Japan, Germany, and UK |
|
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
|
Companies profiled |
Carrier Global Corp., Daikin Industries Ltd., Danfoss AS, Haier Smart Home Co. Ltd., Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., Panasonic Corp., Samsung Electronics Co. Ltd., and Trane Technologies Plc |
|
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
