Industrial HVAC market: Historic industry size & analysis of 15 vendors - Technavio

NEW YORK, Dec. 13, 2022 /PRNewswire/ -- The industrial HVAC market size is forecast to increase by USD 4,714.13 million from 2022 to 2027 according to a recent market study by Technavio. However, the growth momentum will decelerate at a CAGR of 6.5% during the forecast period. The growth of the market will be driven by the increasing demand for energy-efficient HVAC systems, the growing adoption of cleanrooms across industries, and stringent regulations for use of explosion-proof HVAC equipment in hazardous environments.

Technavio categorizes the global industrial HVAC market as a part of the industrial machinery market, which covers companies engaged in manufacturing industrial machinery and components covering presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications.

Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Technavio has extensively analyzed 15 major vendors, including ALFA LAVAL, Carrier Global Corp., Daikin Industries Ltd., Emerson Electric Co., Furukawa Electric Co. Ltd., Hitachi Ltd., Honeywell International Inc., Ingersoll Rand Inc., Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., Panasonic Holdings Corp., and Robert Bosch GmbH.

Key Benefits for Industry Players & Stakeholders –

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Expand operations in the future - To get requisite details, ask for a custom report.

Customer Landscape - Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

Download the sample to get a holistic overview of the industrial HVAC market by industry experts to evaluate and develop growth strategies.

The market is segmented by end-user (process industry and discrete industry), type (HVAC equipment and HVAC services), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

Segmentation by end-user (Inclusion/Exclusion)

• Inclusion: 
• Process industry:

The process industry segment grew gradually by USD 5,958.56 million in 2017 and continued to grow till 2021. The introduction of stringent government regulations and rising energy costs are compelling process industries such as oil and gas, power, pulp and paper, water and wastewater treatment, chemical and petrochemical, mining and metal, and others to reduce energy consumption. In addition to this, the increasing awareness about energy efficiency among end-users is driving the demand for energy-efficient industrial HVAC systems, thereby fueling the growth of the segment.

To get detailed insights about inclusions and exclusions, buy the report.

Related Reports –

• The commercial HVAC market size is estimated to surge by USD 22.09 billion from 2021 to 2026 at an accelerating CAGR of 4.2%. The rising number of data centers is notably driving the commercial HVAC market growth, although factors such as high market competition may impede the market growth.
• The heat exchanger market size is expected to increase by USD 4.02 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.27%. The rising demand from the water and wastewater industry is notably driving the heat exchanger market growth, although factors such as the fouling of heat exchangers may impede the market growth.

What are the key data covered in the industrial HVAC market?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the industrial HVAC market between 2023 and 2027
• Precise estimation of the size of the industrial HVAC market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the cloud data warehouse market industry across APAC, North America, Europe, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of industrial HVAC market vendors

Table of Contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global industrial HVAC market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global industrial HVAC market 2017 - 2021 ($ million)

• 4.2 End-user Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Process industry - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Process industry - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Process industry - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Process industry - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Process industry - Year-over-year growth 2022-2027 (%)

• 6.4 Discrete industry - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Discrete industry - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Discrete industry - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Discrete industry - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Discrete industry - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by End-user 
• Exhibit 42: Market opportunity by End-user ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 43: Chart on Type - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 45: Chart on Comparison by Type
• Exhibit 46: Data Table on Comparison by Type

• 7.3 HVAC equipment - Market size and forecast 2022-2027 
• Exhibit 47: Chart on HVAC equipment - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on HVAC equipment - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on HVAC equipment - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on HVAC equipment - Year-over-year growth 2022-2027 (%)

• 7.4 HVAC services - Market size and forecast 2022-2027 
• Exhibit 51: Chart on HVAC services - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on HVAC services - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on HVAC services - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on HVAC services - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 55: Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 57: Chart on Market share by geography 2022-2027 (%)
• Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 59: Chart on Geographic comparison
• Exhibit 60: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 61: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 63: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 64: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 73: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 81: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027 
• Exhibit 93: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027 
• Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 101: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 102: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 104: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 105: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 106: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 107: Matrix on vendor position and classification

• 12.3 ALFA LAVAL
• Exhibit 108: ALFA LAVAL - Overview
• Exhibit 109: ALFA LAVAL - Business segments
• Exhibit 110: ALFA LAVAL - Key offerings
• Exhibit 111: ALFA LAVAL - Segment focus

• 12.4 Carrier Global Corp.
• Exhibit 112: Carrier Global Corp. - Overview
• Exhibit 113: Carrier Global Corp. - Business segments
• Exhibit 114: Carrier Global Corp. - Key news
• Exhibit 115: Carrier Global Corp. - Key offerings
• Exhibit 116: Carrier Global Corp. - Segment focus

• 12.5 Daikin Industries Ltd. 
• Exhibit 117: Daikin Industries Ltd. - Overview
• Exhibit 118: Daikin Industries Ltd. - Business segments
• Exhibit 119: Daikin Industries Ltd. - Key news
• Exhibit 120: Daikin Industries Ltd. - Key offerings
• Exhibit 121: Daikin Industries Ltd. - Segment focus

• 12.6 Emerson Electric Co.
• Exhibit 122: Emerson Electric Co. - Overview
• Exhibit 123: Emerson Electric Co. - Business segments
• Exhibit 124: Emerson Electric Co. - Key offerings
• Exhibit 125: Emerson Electric Co. - Segment focus

• 12.7 Furukawa Electric Co. Ltd. 
• Exhibit 126: Furukawa Electric Co. Ltd. - Overview
• Exhibit 127: Furukawa Electric Co. Ltd. - Product / Service
• Exhibit 128: Furukawa Electric Co. Ltd. - Key offerings

• 12.8 Hitachi Ltd.
• Exhibit 129: Hitachi Ltd. - Overview
• Exhibit 130: Hitachi Ltd. - Business segments
• Exhibit 131: Hitachi Ltd. - Key news
• Exhibit 132: Hitachi Ltd. - Key offerings
• Exhibit 133: Hitachi Ltd. - Segment focus

• 12.9 Honeywell International Inc. 
• Exhibit 134: Honeywell International Inc. - Overview
• Exhibit 135: Honeywell International Inc. - Business segments
• Exhibit 136: Honeywell International Inc. - Key news
• Exhibit 137: Honeywell International Inc. - Key offerings
• Exhibit 138: Honeywell International Inc. - Segment focus

• 12.10 Ingersoll Rand Inc.
• Exhibit 139: Ingersoll Rand Inc. - Overview
• Exhibit 140: Ingersoll Rand Inc. - Business segments
• Exhibit 141: Ingersoll Rand Inc. - Key offerings
• Exhibit 142: Ingersoll Rand Inc. - Segment focus

• 12.11 Johnson Controls International Plc 
• Exhibit 143: Johnson Controls International Plc - Overview
• Exhibit 144: Johnson Controls International Plc - Business segments
• Exhibit 145: Johnson Controls International Plc - Key news
• Exhibit 146: Johnson Controls International Plc - Key offerings
• Exhibit 147: Johnson Controls International Plc - Segment focus

• 12.12 Lennox International Inc. 
• Exhibit 148: Lennox International Inc. - Overview
• Exhibit 149: Lennox International Inc. - Business segments
• Exhibit 150: Lennox International Inc. - Key offerings
• Exhibit 151: Lennox International Inc. - Segment focus

• 12.13 LG Electronics Inc.
• Exhibit 152: LG Electronics Inc. - Overview
• Exhibit 153: LG Electronics Inc. - Business segments
• Exhibit 154: LG Electronics Inc. - Key news
• Exhibit 155: LG Electronics Inc. - Key offerings
• Exhibit 156: LG Electronics Inc. - Segment focus

• 12.14 MIDEA Group Co. Ltd.
• Exhibit 157: MIDEA Group Co. Ltd. - Overview
• Exhibit 158: MIDEA Group Co. Ltd. - Business segments
• Exhibit 159: MIDEA Group Co. Ltd. - Key offerings
• Exhibit 160: MIDEA Group Co. Ltd. - Segment focus

• 12.15 Mitsubishi Electric Corp. 
• Exhibit 161: Mitsubishi Electric Corp. - Overview
• Exhibit 162: Mitsubishi Electric Corp. - Business segments
• Exhibit 163: Mitsubishi Electric Corp. - Key news
• Exhibit 164: Mitsubishi Electric Corp. - Key offerings
• Exhibit 165: Mitsubishi Electric Corp. - Segment focus

• 12.16 Panasonic Holdings Corp. 
• Exhibit 166: Panasonic Holdings Corp. - Overview
• Exhibit 167: Panasonic Holdings Corp. - Business segments
• Exhibit 168: Panasonic Holdings Corp. - Key news
• Exhibit 169: Panasonic Holdings Corp. - Key offerings
• Exhibit 170: Panasonic Holdings Corp. - Segment focus

• 12.17 Robert Bosch GmbH
• Exhibit 171: Robert Bosch GmbH - Overview
• Exhibit 172: Robert Bosch GmbH - Business segments
• Exhibit 173: Robert Bosch GmbH - Key news
• Exhibit 174: Robert Bosch GmbH - Key offerings
• Exhibit 175: Robert Bosch GmbH - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 176: Inclusions checklist
• Exhibit 177: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 178: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 179: Research methodology
• Exhibit 180: Validation techniques employed for market sizing
• Exhibit 181: Information sources

• 13.5 List of abbreviations 
• Exhibit 182: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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