HVAC Market System Outlook, Demands, Size, Growth Drivers, Competitive Revenue, Technology and Industry Trends 2023 – 2030

HVAC System Market Research Insights

The Global Heating Ventilation and Air Conditioning Market Size was valued at USD 1,39,768.5 million in 2021. The Heating, Ventilation and Air Conditioning (HVAC) System Market industry is projected to grow from USD 1,48,224.5 million in 2022 to USD 2,23,611.8 million by 2030, exhibiting a compound annual growth rate (CAGR) of 6.05% during the forecast period (2022 – 2030).

Heating, Ventilation and Air Conditioning (HVAC) is a technological system, which is used to provide cooling ventilation and heating facilities to the building. Heating gadgets like heaters, furnaces, and heat pumps, are applied to generate heat in buildings via central heating or local heating. Ventilation gadgets are used to modify or replace the air in any building to regulate temperature. Air conditioning appliances are utilized in cooling indoor air for thermal consolation.

HVAC System Market Key Players

The Global Heating Ventilation and Air Conditioning Market key players are

• Zamil Air Conditioners
• Daikin
• Lennox International
• Ingersoll Rand
• Samsung Electronics
• Siemens Building Technologies
• Johnson Controls
• Gree Electric Appliances Inc
• Honeywell International
• Fujitsu General

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The HVAC industry is gradually relocating its emphasis toward energy efficiency. Several OEMs are concentrating on green initiatives to save money while decreasing greenhouse emissions. As a result, there has been a shift in recent times toward eco-friendly HVAC units. This includes products that utilize lower power and run on renewable energy sources, lowering energy expenditures.

HVAC System Market Segmentation

The Global Heating Ventilation and Air Conditioning Market is segmented into;

HVAC System Based On Type

• Central air conditioning
• Window or through the wall air conditioners
• Split residential air conditioners
• Packaged air conditioners.

HVAC System Based On Application

• Institutional
• Residential
• Commercial
• Hospitality
• Others

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HVAC System Market Regional Analysis

The Global Heating Ventilation and Air Conditioning Market are divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

The uprising average temperature, mainly in India, China, Japan, South Korea, and Indonesia, is anticipated to support the growth. Due to the hot climate in much of APAC, the necessity for air conditioning equipment is more than compared in North America and Europe.

Asia Pacific dominated the HVAC market, considering more than 50% of the revenue in 2021. Rapid urbanization, population growth, and growing consumer disposable earnings have all contributed to the region’s peculiar growth over the years. Recently, the corporate sector has expanded, creating opportunities for future regional growth.

Medical tourism is also tending in APAC, as regional countries give cost-effective healthcare services. Additionally, the region is a cradle for major sports events, which draw a considerable number of sportspersons and fans from across the world, therefore leading to the growth in the number of hotels. These factors are steering to commercialization on a ponderous scale, which will herd HVAC usage.

North America was the second-largest consumer of HVAC systems, nearly followed by Europe. The market for HVAC systems in the region has passed maturity; though, replacement sales due to growing infrastructure or retrofit projects are creating alternate revenue streams for OEMs in North America in addition to augmentation into the services and maintenance division.

One of the key drivers of the market’s augmentation is the expanding adoption of sustainable building designs. Other revealing growth factors of the market include expanding population, boosting construction activities, growing smart thermostat market, enhancing annual mean temperature, and raising-commerce retail sales.

Table of Content

1 Report Prologue

2 Market Definition

2.1 Scope Of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.2 Market Structure

3 Research Methodology

3.1 Research Process

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Forecast

3.5 Forecast Model

4 Forecast Indicators

4.1 Drivers

4.2 Restraints

4.3 Opportunity

4.4 Trends

4.5 Macroeconomic Indicators

Continue…

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