HVAC Equipment Market to grow at over 6.15% CAGR during 2021-2025 | Technavio
Businesses will pass through the response, recovery, and renewal phases.
HVAC equipment market will have Daikin Industries Ltd., Fujitsu Ltd., and Haier Smart Home Co. Ltd. as major participants during 2021-2025
NEW YORK, Aug. 13, 2021 /PRNewswire/ -- The latest market research report on HVAC Equipment Market from Technavio forecasts the market is expected to register an incremental growth of USD 41.82 billion during 2021-2025. The report offers comprehensive details on dominant market players including Daikin Industries Ltd.(Japan), Fujitsu Ltd.(Japan), Haier Smart Home Co. Ltd.(China), Ingersoll Rand Inc(US), Johnson Controls International Plc(Ireland), LG Electronics Inc.(South Korea), MIDEA GROUP(China), Nortek Inc.(US), Robert Bosch GmbH(Germany), and Samsung Electronics Co. Ltd.(South Korea).
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The HVAC equipment market is driven by increasing residential and commercial construction activities, cost advantages associated with renting HVAC equipment, and surging demand for centralized HVAC systems. In addition, other factors such as the growing adoption of prefabricated construction solutions, growing preference for customized HVAC systems, the advent of smart HVAC systems are expected to trigger the HVAC equipment market toward witnessing a CAGR of over 6.15% during the forecast period. However, stringent regulations may hamper the market's growth during the forecast period.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
The recovery process involves various phases including:-
- Adjust their strategic planning to move ahead once business stability kicks in.
- Focusing on agile execution of proposed and approved changes.
- Assessing Impact on Critical IT infrastructure and Software System
Find COVID-19 Insights Right Here
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Corresponding Reports:
Facilities Management Market by End-user and Geography - Forecast and Analysis 2021-2025
HVAC Market by End-user, Type, and Geography - Forecast and Analysis 2021-2025
Residential HVAC Market by Product and Geography - Forecast and Analysis 2020-2024
HVAC Test Instruments Market by Application and Geography - Forecast and Analysis 2020-2024
Top HVAC Equipment Market Participants:
- Daikin Industries Ltd.
- Fujitsu Ltd.
- Haier Smart Home Co. Ltd.
- Ingersoll Rand Inc
- Johnson Controls International Plc
- LG Electronics Inc.
- MIDEA GROUP
- Nortek Inc.
- Robert Bosch GmbH
- Samsung Electronics Co. Ltd.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown:
https://www.technavio.com/report/hvac-equipment-market-size-industry-analysis
HVAC Equipment Market 2021-2025: Segmentation
HVAC equipment market is segmented as below:
- Product
- Air Conditioning Equipment
- Heating Equipment
- Ventilation Equipment
- End-user
- Non-residential
- Residential
- Geography
- APAC
- Europe
- North America
- MEA
- South America
The air conditioning equipment segment was the largest revenue-generating product segment in 2020, mainly due to the rising temperature and humidity levels across the globe. In addition, the increasing per capita income and growing preference for air conditioning products will further accelerate the segment's growth in the forthcoming years. In terms of geography, 53% of the growth will originate from APAC. The growth can primarily be attributed to investments of large funds in construction projects by the public as well as private organizations in India and China.
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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