HVAC Equipment Market: By Leading Manufacturers And Product Types With Region By
Posted by Harshad Borde on December 31st, 2019
The global HVAC equipments market is forecast to record moderate growth rate for the period 2012 - 2018. The market is expected to be dominated by cooling systems, which are estimated to account for more than eight deciles of the overall industry growth. Of the different macroeconomic and microeconomic factors influencing the growth trends worldwide, rise in the number of new households, increase in disposable income, surge in demand for energy efficient and environment friendly products, and need of product upgrade or replacement demand are seen as key determinants. However, the latter is more prominent in North America and Europe while the other factors are driving the demand across Asia Pacific and Rest of the World (RoW) regions.
The different HVAC equipments are broadly segmented into three types: heating equipments, cooling equipments, and ventilation equipments. Heat pumps among the heating equipments and room air conditioners among the cooling equipments are the fastest growing product types, and are collectively expected to account for more than fifty percent of the global market. This is due to enhanced energy efficiency provided by room air conditioners and multiple uses of heat pumps (for both heating and cooling). Moreover, the energy efficiency issues related with other heating equipments, such as furnaces, unitary heaters and boilers, is restricting their growth. These systems, except for unitary heaters, are widely used in district heating systems.
Planning To Lay Down Future Strategy? Request Sample https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1499
Unitary air-conditioners are the second fastest growing product segment in the cooling equipments category. Despite the global rise of cooling equipments, coolers are witnessing a gradual declining trend, with demand coming from Third World countries and low income segments of emerging economies of the Asia Pacific region.
The market by industry type is dominated by the non-residential sector, with commercial sector demand alone accounting for more than one third of the global market share. However, the residential sector is experiencing healthy growth, and marginally lags behind the commercial sector. Industrial sector is still recovering slowly, and is expected to lose market share to residential and commercial sectors. Tourism alone accounts for around fifty percent of the demand for commercial sector, followed by the construction segment. However, a large share of this commercial demand comes from cooling and ventilation equipments.
Cross sectional analysis of the HVAC equipments by components signifies the importance of cooling units in a HVAC system. Issues related to environment and energy efficiency are key challenges faced by industry players with stakes in the segment. Cooling units are valued to account for the largest share of the market, and is the fastest growing component type. Different control systems used in HVAC equipments/systems too are seeing rising demand and increased preference, due to shift in preference for smart devices with advanced features. This trend is more evident in the developed markets of North America and Europe. As a result, the two regions are growing at a close rate, with Europe marginally lagging behind. However, Asia Pacific, on account of its large scale and fast adoption, is expected to remain the largest geographic market throughout the forecast period.
Amidst intense competition, industry players are adopting rigorous strategies to ensure their competitive advantage over competitors. Mergers and acquisitions are seen as mitigating strategies for competition from small players. Recent acquisition of Goodman by Daikin is seen as an effort by Daikin to gain a strong foothold in North America. This move is expected to see Daikin taking over Carrier as the leading global brand. The other market participants are Haier, Electrolux, LG, Samsung, and many other regional and small players.
Like it? Share it!
About the AuthorHarshad Borde
Joined: April 26th, 2019
Articles Posted: 526
More by this author