The market by volume is growing at a CAGR of 3.27% from 2016 to 2022, in which China is a dominant player.
The growth of the APAC HVAC market is owing to various key factors such as growing urban population, increase in disposable income, and varying climatic conditions. The region experience extreme climatic conditions. South-East Asian countries such as Thailand and Malaysia are known for their wet and humid climates. The Asia Pacific region is in dire need of energy efficient air conditioners in order to offset hot and extreme weather conditions. Climate variability and change is acting as a key driver for the growth of the HVAC market in the APAC region.
Construction activities across residential and commercial infrastructure are expected to bolster due to the growing housing needs of the rising APAC urban population. There has been an increased demand for residential construction in countries such as China, Japan and India to accommodate the growing requirements of the expanding middle class population.
Given its size and landscape, China covers a wide ambit of climate zones. This acts as a key factor for the growth of the HVAC market. Japan acquires the second largest market share in the Asia Pacific region for the HVAC market.
High temperature during the summer in the northern part of India and high humidly levels in the southern and western regions are driving the growth of the air conditioning market forward in India. Proliferation of commercial and residential construction is also expected to drive the HVAC sales for this country. Over the recent times, a shift in consumer preference towards energy efficient products have been observed in this country.
The demand for HVAC products in the Australian market is mainly driven by factors such as rising population, developments in the residential markets, and growing commercial and industrial units, among others.
The economic environment outlook of the APAC region remains favourable for the region to remain a global market leader in the future.
Key Topics Covered:
1 Research Scope and Methodology
2 Market Dynamics
3 Competitive Landscape
4 Industry Analysis
5 Asia Pacific HVAC Market, Analysis and Forecast
6 Company profiles
- Daikin Industries Ltd.
- Gree Electric Appliances Inc.
- LG Corporation
- Midea Group
- Mitsubishi Electric Corp.
- Panasonic Corporation
- Samsung Electronics
- United Technologies Corporation (CARRIER)
For more information about this report visit http://www.researchandmarkets.com/research/wz9s8x/the_asia_pacific
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/asia-pacific-heating-ventilation--air-conditioning-hvac-market-2016-2022-market-volume-growing-at-a-cagr-of-327-with-china-dominating---research-and-markets-300372104.html
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