Fr. Mrz 29th, 2024

Asia-Pacific dominates with major share and growth in the HVAC Equipment Market:

Asia-Pacific for heating equipment market held maximum revenue of $25432.8 million in 2017. The Heating HVACunitmarket is anticipated to grow at a faster CAGR of 11.9% to reach revenue of $56332.94 million by 2023, followed by North America market. The increase in developing countries middle-class families leading towards increasing purchase due to changing lifestyle is the major driver for the industry in the APAC region. Cooling equipment market for Asia-Pacific is expected to grow at a CAGR of 8.14% to register revenue of $79074.44 million by 2023, followed by North America market. The rise in the growing demand for cooling equipment is mostly satisfied by imports of cooling equipment’s, mostly from Chinese manufacturers are helping the market to grow exponentially.

Selected Heating and Cooling Type Analysis were done in the HVAC equipment market Report:

The HVAC Equipment market is segmented into Heating Equipments and Cooling Equipments. The revenue generated by HVAC heating equipment contributed to nearly 35% of overall revenue generated by Global HVAC market by generating revenue of $55.30 billion in 2017. The market is expected to grow at a CAGR of 8.90% to reach revenue of $93.22 billion by 2023. A heat pump is a segment of the heating equipment market, which is projected to hold the highest revenue for the forecast period. The heat pump market is expected to grow at a CAGR of 9.80% to reach revenue of $78.95 billion by 2023. The Cooling equipment contributed nearly to78.4% of global revenue generated by Global HVAC industry, with Air-Conditioners leading the cooling segment market. The Air-Conditioner market is expected to grow at a CAGR of 7.505% to gain revenue of $103667.50 million by 2023.

Excerpts on HVAC equipment market Growth Factors

Increasing the cost of energy has forced the manufacturers to develop energy efficient devices. The launch of energy efficient products has maximized and made it more convenient for the consumer to adopt the technology. Hence, the market is expected to continue growing in the coming future.
Considering new government rules, efficient low carbon heating and its environmental friendly is growing at a good pace and has captured a significant market in the residential sector.
In the commercial sector, the demand for central air conditioners, which establishes cooling towers and chillers is moderately higher due to increasing demand from the construction and refurbishment activity, will lead the market to grow decently.
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Key players of the HVAC Equipment Market

The significant marketplace holders in the HVAC market are Carrier, Trane, Johnson Controls followed by Emerson Climate Technologies as well as Lennox. These top players occupy nearly up to 46% of the overall market share. Trane is an organization, which has a model named as Trane XLi Air Source heat Pumps that comes with infinity carrier. Lennox is known for its products like Signature® Series (XP25, XP21, XP17). York has set of products as Affinity™ Series: YZH and YZF Heat pump, last but not least Daikin has its major patents such as DZ20VC, DZ18TC, DZ16TC, DZ16SA and generally these are used under higher efficiency of equipment.

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About IndustryARC:IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.

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IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Material

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