DUBLIN, July 9, 2019 /PRNewswire/ -- The "Heating, Ventilation, and Cooling Market by HVAC Type, by End-User by Geography Global Market Size, Share, Development, Growth and Demand Forecast, 2014-2024" report has been added to ResearchAndMarkets.com's offering.
The global heating, ventilation, and air conditioning (HVAC) market is exacted to attain a size of $136.5 billion by 2024, advancing at a CAGR of 3.9% during the forecast period (2019-2024).
The market is backed by various factors, predominantly the rising government initiatives around the world and expansion in the construction sector. Additionally, the escalating global temperature is strengthening the year-over-year (YoY) market growth.
Global warming caused by greenhouse emissions has raised the temperature and become one of the major factors behind the growing demand for HVAC system, globally. According to NASA's Goddard Institute of Space Studies (GISS), since 1980, the average global temperature rose by 0.5C every year. Furthermore, some countries in APAC and MEA are subject to subtropical climate, resulting in extremely humid and hot summers; thereby, making them dependent on HVAC systems for cooling.
Based on HVAC type, the HVAC market is categorized into heating, ventilation, and cooling, among which the cooling category is further divided into ducted spilt/packaged unit, variable refrigerant flow, spilt unit, room air conditioner, and chiller. Out of these, spilt unit systems held the largest revenue share in the market in 2018.
This is attributed to the increasing adoption of ductless air conditioning systems. Furthermore, residential and commercial were the main sectors generating a uniform demand for HVAC systems. As of 2018, over 60.0% of the U.S. households are estimated to have central air conditioning systems.
Based on end-user, the HVAC market is fragmented into industrial, commercial, and residential. Here, the industrial category is further classified into automotive, energy and utilities, food and beverages (F&B), and oil and gas. Among these, in 2018, the F&B classification dominated the market with the highest revenue share. F&B manufacturing plants require well-designed air handling systems, which can control airborne odors and particulates.
In 2017, around 640 F&B production units underwent expansion and renovation; among these 63 were new brewery units. During 2018-2021, in the North America region, the F&B industry is anticipated to grow with a CAGR of 11.3%.
The intensity of competition among the key players in the industry is moderate. Last year, many major companies focused on partnerships to increase their product capabilities and offer technologically-enhanced HVAC systems to their customers.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By HVAC Type
4.1.1.1 Heating
4.1.1.1.1 Furnaces
4.1.1.1.2 Heat Pumps
4.1.1.1.3 Boilers
4.1.1.1.4 Unitary Heaters
4.1.1.2 Ventilation
4.1.1.2.1 Humidifiers/Dehumidifiers
4.1.1.2.2 Air cleaners
4.1.1.2.3 Ventilation fans
4.1.1.2.4 Air handling units and fan coil units
4.1.1.3 Cooling
4.1.1.3.1 VRF
4.1.1.3.2 Ducted split/packaged unit
4.1.1.3.3 Split units
4.1.1.3.4 Chillers
4.1.1.3.5 Room ACs
4.1.2 By End-User
4.1.2.1 Commercial
4.1.2.1.1 Offices and buildings
4.1.2.1.2 Supermarkets/Hypermarkets
4.1.2.1.3 Government
4.1.2.1.4 Healthcare
4.1.2.1.5 Hospitality
4.1.2.1.6 Transportation
4.1.2.1.7 Others
4.1.2.2 Industrial
4.1.2.2.1 Oil and Gas
4.1.2.2.2 Food and Beverage
4.1.2.2.3 Automotive
4.1.2.2.4 Energy and Utilities
4.1.2.2.5 Others
4.1.2.3 Residential
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Increasing preference toward VRF technology
4.3.1.2 Growing preference toward smart HVAC systems
4.3.2 Drivers
4.3.2.1 Growing construction sector
4.3.2.2 Increasing government initiatives to support the growth of HVAC systems
4.3.2.3 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 High upfront cost
4.3.3.2 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Energy efficiency in HVAC systems
4.3.4.2 Growing opportunity from manufacturing industry
4.4 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By HVAC Type
5.1.1 Heating, by Equipment Type
5.1.2 Ventilation, by Equipment Type
5.1.3 Cooling, by Equipment Type
5.2 By End-User
5.2.1 Commercial, by Category
5.2.2 Industrial, by Category
5.2.3 By Residential
5.3 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 Market Share Analysis of Key Players
11.2 List of Key Players and their Offerings
11.3 Recent Activities of Key Players
11.4 Strategic Developments of Key Players
11.4.1 Mergers and Acquisitions
11.4.2 Partnerships
11.4.3 Product Launches
11.4.4 Facility Expansions
11.4.5 Other Developments
Chapter 12. Company Profiles
- Johnson Controls International PLC
- Samsung Electronics Co. Ltd.
- Lennox International Inc.
- Ingersoll-Rand plc
- United Technologies Corporation
- Daikin Industries Ltd.
- Mitsubishi Electric Corporation
- Toshiba Carrier Corporation
- LG Electronics Inc.
- Fujitsu Limited
- Midea Group Co. Ltd.
- Gree Electric Appliances, Inc. of Zhuhai
- Danfoss A/S
For more information about this report visit https://www.researchandmarkets.com/r/1haoin
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