HVAC Systems Market 2022 Forecasts Show Growth of 5.9% CAGR led by Heating Equipment

Jul 13, 2016, 12:45 ET from ReportsnReports

PUNE, India, July 13, 2016 /PRNewswire/ --

The HVAC systems market is expected to grow at a CAGR of 5.9% between 2016 and 2022 and reach USD 173.16 billion by 2022 while heating equipment segment expected to grow at a high rate driven by government incentives through tax credit programs, increasing construction activities, and government regulations and policies for energy saving.

Complete report on HVAC systems market across 181 pages, profiling 15 companies and supported with 69 tables and 83 figures is now available at http://www.reportsnreports.com/reports/620740-hvac-systems-market-by-equipment-type-heating-heat-pump-furnace-ventilation-air-filter-dehumidifier-air-purifier-cooling-room-ac-unitary-ac-chiller-software-services-implementation-type-application-and-geography-global-forecast-to-2022.html .

The growth of the HVAC systems market in APAC is attributed to the increase in industrialization and urbanization, increase in the disposable income of consumers, and change in climate conditions. Further, introduction of government programs for promoting energy savings has also helped the HVAC industry to grow in the region. Some of the regulations contributing to the growth of the region are Commercial Building Disclosure (CBD) Program (Australia), Energy Conservation Building Codes (India), LEED-INDIA, and Indian Society of Heating, Refrigerating, and Air-Conditioning Engineers (ISHRAE).

The growth of the heating equipment market is mainly driven by government financial incentive programs, low operating cost and high operating capacity, higher efficiency of equipment, and increasing demand in the residential market.

Countries such as China, Japan, and India are majorly driving the growth of HVAC systems market in Asia-Pacific. These countries have a considerable market size and scope for the development of HVAC industry. There are number of government regulations, acts, and associations supporting the adoption of HVAC system in APAC. Further, the growth of the HVAC systems market in the APAC region is attributed to the increasing construction activities, rising population, and change in climate conditions.

The key players in the market include Daikin Industries Limited (Japan), Ingersoll Rand Plc. (Ireland), Johnson Controls, Inc.(U.S.), Nortek, Inc. (U.S.), United Technologies Corporation(U.S.), Electrolux AB (Sweden), Emerson Electric Co.(U.S.), Honeywell International Inc.(U.S.), Lennox International Inc. (U.S.), LG Electronics (South Korea), Mitsubishi Electric (Japan), Panasonic Corporation (Japan), Qingdao Haier Co. Ltd. (China), Samsung Electronics (South Korea), and Whirlpool Corporation (U.S.). Order a copy of HVAC Systems Market by Equipment Type (Heating (Heat Pump, Furnace), Ventilation (Air Filter, Dehumidifier, Air Purifier), Cooling (Room AC, Unitary AC, Chiller)), Software & Services, Implementation Type, Application, and Geography - Global Forecast to 2022 research report at http://www.reportsnreports.com/purchase.aspx?name=620740 .

In the process of determining and verifying, the HVAC systems market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (45%), Tier 2 (40%) and Tier 3 (15%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level Executives (25%), Director Level (35%) and others (40%) from various key organizations operating in the global HVAC systems market. The primary interviews were conducted worldwide covering regions such as North America (30%), Europe (25%), Asia-Pacific (40%) and RoW (5%).

On a related note, another research on HVAC Controls Market Global Trend and Forecast to 2022 says, the market is expected to reach USD 17.51 Billion by 2022 from USD 8.52 Billion in 2015, growing at a CAGR of 10.8% between 2016 and 2022. Sensors market expected to grow rapidly during the forecast period. Integrated control systems market to have potential growth by 2022. This research report categorizes the global HVAC controls market on the basis of system, component, revenue source, application, and geography. Companies like Delta Controls Inc., Distech Controls Inc., Emerson Electric Co., Honeywell International Inc., Ingersoll Rand Plc., Johnson Controls, Inc., KMC Controls Inc., Lennox International Inc., Schneider Electric SE and Siemens AG have been profiled in this 197 pages research report available at http://www.reportsnreports.com/reports/522161-hvac-controls-market-by-system-temperature-ventilation-humidity-integrated-controls-component-sensors-and-controllers-controlled-devices-revenue-source-hvac-controls-bems-application-and-geography-global-trend-and-forecast-to-2022.html .

Explore more reports on the Semiconductor and Electronics market at http://www.reportsnreports.com/market-research/semiconductor-and-electronics/.

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