According to Arizton, the Global HVAC Market to Reach USD 309 Billion, Growing at a CAGR of 5% During 2022-2028; Systemair, Samsung, Daikin & Bosch Identified Among the Top Vendors

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according-to-arizton,-the-global-hvac-market-to-reach-usd-309-billion,-growing-at-a-cagr-of-5%-during-2022-2028;-systemair,-samsung,-daikin-&-bosch-identified-among-the-top-vendors
According to Arizton, the Global HVAC Market to Reach USD 309 Billion, Growing at a CAGR of 5% During 2022-2028; Systemair, Samsung, Daikin & Bosch Identified Among the Top Vendors

, /PRNewswire/ — According to Arizton’s latest research report, the global HVAC market will grow at a CAGR of 5% from 2022 to 2028. The replacement of existing equipment with energy-efficient products, the emergence of IoT and product innovations to aid replacements, and Europe’s climatic conditions and heatwave propelling the demand for HVAC systems t. APAC holds the most prominent market share. Energy-efficient HVAC technology innovation for residential and commercial buildings has the potential to provide both environmental and economic benefits. Optimizing energy-efficient HVAC technologies and proper installation planning can help achieve up to 40% energy savings. As a result, replacing existing equipment with energy-efficient HVAC technologies will drive future market growth.

HVAC Market

HVAC Market

The automated fault detection and diagnostics functionality of a smart HVAC system is a proactive approach that enables end users to conduct proactive maintenance and ensure the best performance of their assets. Additionally, IoT-powered HVAC systems enable users to have centralized visibility and accessibility, as smart HVAC systems can be accessed remotely using a smartphone. In 2021, nearly 31 billion IoT devices were in use worldwide. Smart IoT HVAC systems provide advanced comfort, lowered energy bills, and increased functionality for residential and commercial end users.

Global HVAC Market Report Scope

Report Attributes

Details

Market Size (2028)

USD 309 Billion

Market Size (2022)

USD 225 Billion

CAGR (2022-2028)

5.43 %

Base Year

2022

Forecast Year

2023-2028

Market Segments

Heating, Ventilation, Air Conditioning, End-user, and Geography

Geographic Analysis

North America, Europe, APAC, Latin America, and Middle East & Africa

Key Leading Companies

China, India, Japan, Australia, the US, Canada, Western Europe (Germany, France, the UK, Italy, and the Netherlands), Nordic (Norway, Denmark, Sweden, and Others), Central & Eastern Europe (Russia, Poland & Austria, and Other CEE Countries), Brazil, Mexico, Argentina, Saudi Arabia, the UAE, and South Africa

Key Prominent Vendors

Systemair, Johnson Controls, Zehnder, Ostberg, Aldes, Bosch, Daikin, Samsung, Mitsubishi Electric, LG, Panasonic, Carrier, Midea, Regal, Raytheon Technologies, Honeywell, Flakt Group, Beijer Ref, Flexit, Grundfos, Swegon, VTS, Nuaire, Nortek, Alfa Laval, Hitachi, Lu-Ve, Vent-Axia, Rosenberg, S & P, WOLF, CIAT, AL-KO, DynAIR, Danfoss, Lennox, Backer Springfield, Dunham-Bush, TCL, TROX, Vaillant Group, Ingersoll Rand, and Camfil

Page Number

338

Market Dynamics

·  Rising Construction Industry

·  Airport Modernization

·  The Growing VRF Systems

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MARKET TRENDS & OPPORTUNITIES

Modernization of Aviation Industry Strengthening the Demand for HVAC

The adoption of new technologies and an increase in airport infrastructure development have caused frequent changes in the aviation industry. Most countries are revamping their air transportation system by expanding their existing airports and constructing new airports to handle the expansion of passenger and freight traffic. Such expansion measures will enable existing airports to enhance their operational efficiency and handle the robust growth in passenger traffic year after year. Consequently, there will be a considerable rise in airport construction projects in the coming years, propelling the demand for HVAC systems in the upcoming years. Moreover, operators seek passengers who spend most of their time in airports to generate more revenue per passenger (non-aircraft income). Service and maintenance visits at airports are strictly punctual and high revenue generators for the industry. Thus, such measures are expected to boost the requirement for bigger and better HVAC facilities at the airport to augment the passenger handling capacity.

Increasing Adoption of VRF Systems Leveraging High Demand for HVAC

Germany’s demand for centralized air conditioning solutions, especially chillers and VRF systems, has significantly increased in recent years. However, in many places, VRF systems are replacing chillers. The sales of VRF systems are expected to rise in tune with global trends as they help save operational costs. The UK market is strongly connected to European business trends and driven by construction activities in London. Thus, VRF systems will play a vital role in the growth of the global HVAC market in the coming years.

Buildings with multiple zones can install sophisticated VRF models. VRFs are expected to grow rapidly due to a considerable surge in construction activities and the focus of end users on energy efficiency, modularity, and ease of installation. In the commercial sector, the real estate market’s expansion and the construction market’s revival will propel the demand for VRF systems in the near future.

Key Company Profiles

  • Systemair

  • Johnson Controls

  • Zehnder

  • Ostberg

  • Aldes

  • Bosch

  • Daikin

  • Samsung

  • Mitsubishi Electric

  • LG

  • Panasonic

  • Carrier

  • Midea

  • Regal

  • Raytheon Technologies

  • Honeywell

  • Flakt Group

  • Beijer Ref

  • Flexit

  • Grundfos

  • Swegon

  • VTS

  • Nuaire

  • Nortek

  • Alfa Laval

  • Hitachi

  • Lu-Ve

  • Vent-Axia

  • Rosenberg

  • S & P

  • WOLF

  • CIAT

  • AL-KO

  • DynAIR

  • Danfoss

  • Lennox

  • Backer Springfield

  • Dunham-Bush

  • TCL

  • TROX

  • Vaillant Group

  • Ingersoll Rand

  • Camfil

Market Segmentation

Equipment 

  • Heating

  • Air Conditioning

  • Ventilation

End-user

  • Residential

  • Commercial

Geography

  • APAC

  • North America

  • Europe

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Check Out Some of the Top-Selling Research Related Reports:

Europe HVAC Market – The Europe HVAC market is expected to reach USD 86.49 billion by 2028. The market is undergoing tremendous modifications due to the increasing integration of IoT technology with HVAC products, making them more innovative and accessible. The emphasis on connecting several sensors within building ecosystems, including HVAC, has grown for achieving energy efficiency.

Data Center Precision Air Conditioning Market – The data center precision air conditioning market is expected to grow at a CAGR of 5.01% from 2022 to 2027. In 2021, the global data center cooling market witnessed steady growth after COVID-19. The data center industry was considered an essential service that led to a considerable increase in power capacity due to the service demand during COVID-19. In addition, the development of hyperscale data centers with a power capacity of over 30 MW will continue to drive market growth throughout the forecast period with the adoption of cooling infrastructure in higher numbers.

Pool Heat Pump Market – The global pool heat pump market is expected to reach USD 7.99 billion by 2027. Heat pumps are significant for substantial and immediate carbon savings compared with the other modes of current heating systems. Heat decarbonization is a major priority that compels economies to strive and implement wide-scale adoption of appliances with lower carbon emissions.

U.S. HVAC Market – U.S. HVAC market size to cross USD 37 billion by 2025. Several key air-conditioners and heating equipment manufacturers have introduced smart applications with voice assistance features. Therefore, the increasing collaboration between IoT and HVAV technology offers high visibility into energy usage trends and helps to improve further and simplify operational efficiency, which is expected to augur well for market growth.

Table of Content

1 RESEARCH METHODOLOGY

2 RESEARCH OBJECTIVES

3 RESEARCH PROCESS

4 SCOPE & COVERAGE

4.1 MARKET DEFINITION

4.1.1 INCLUSIONS

4.1.2 EXCLUSIONS

4.1.3 MARKET ESTIMATION CAVEATS

4.2 BASE YEAR

4.3 SCOPE OF STUDY

4.4 MARKET SEGMENTATION

4.4.1 MARKET SEGMENTATION BY EQUIPMENT

4.4.2 MARKET SEGMENTATION BY HEATING EQUIPMENT

4.4.3 MARKET SEGMENTATION BY AIR CONDITIONING EQUIPMENT

4.4.4 MARKET SEGMENTATION BY VENTILATION EQUIPMENT

4.4.5 MARKET SEGMENTATION BY END USER

4.4.6 MARKET SEGMENTATION BY GEOGRAPHY

5 REPORT ASSUMPTIONS & CAVEATS

5.1 KEY CAVEATS

5.2 CURRENCY CONVERSION

5.3 MARKET DERIVATION

6 PREMIUM INSIGHTS

7 MARKET AT A GLANCE

8 INTRODUCTION

8.1 OVERVIEW

8.1.1 ADVANTAGES OF SMART HVAC SYSTEMS

8.1.2 DISADVANTAGES OF SMART HVAC SYSTEMS

8.1.3 INITIATIVES FOR BETTER RISK MANAGEMENT

8.1.4 MEASURES TO IMPROVE PROFIT MARGINS

8.1.5 CHALLENGES ASSOCIATED WITH HVAC SYSTEMS FOR RESIDENTIAL AND COMMERCIAL USE

8.1.6 RECENT MERGERS & ACQUISITIONS AND PRODUCT DEVELOPMENT INITIATIVES

8.1.7 DEVELOPMENT OF ENVIRONMENT-FRIENDLY HVAC EQUIPMENT

8.1.8 IMPACT OF RESIDENTIAL CONSTRUCTION PROJECTS

8.1.9 IMPACT OF NON-RESIDENTIAL CONSTRUCTION PROJECTS

8.1.10 CHALLENGES ASSOCIATED WITH HVAC EQUIPMENT FOR RESIDENTIAL AND COMMERCIAL USE

8.2 VALUE CHAIN

8.2.1 RAW MATERIAL SUPPLIERS & COMPONENTS

8.2.2 MANUFACTURERS

8.2.3 DEALERS /DISTRIBUTORS

8.2.4 RETAILERS

8.2.5 END USERS

8.3 IMPACT OF COVID-19

9 MARKET OPPORTUNITY & TRENDS

9.1 REPLACEMENT OF EXISTING HVAC EQUIPMENT WITH ENERGY-EFFICIENT PRODUCTS

9.2 EMERGENCE OF IOT AND PRODUCT INNOVATIONS TO AID REPLACEMENTS

9.3 ADVERSE CLIMATIC CONDITIONS & HIGH DEMAND FOR HVAC SYSTEMS

10 MARKET GROWTH ENABLERS

10.1 GROWTH OF THE GLOBAL CONSTRUCTION INDUSTRY

10.2 SURGE IN AIRPORT MODERNIZATION PROJECTS WORLDWIDE

10.3 RISE IN DEMAND FOR VRF SYSTEMS

11 MARKET RESTRAINTS

11.1 LOW AVAILABILITY OF SKILLED LABOR

11.2 STRINGENT REGULATORY ENVIRONMENTS WORLDWIDE

11.3 IMPLICATIONS OF THE COVID-19 OUTBREAK

12 MARKET LANDSCAPE

12.1 MARKET OVERVIEW

12.1.1 HIGHLIGHTS

12.2 MARKET SIZE & FORECAST

12.2.1 VALUE

12.3 FIVE FORCES ANALYSIS

12.3.1 THREAT OF NEW ENTRANTS

12.3.2 BARGAINING POWER OF SUPPLIERS

12.3.3 BARGAINING POWER OF BUYERS

12.3.4 THREAT OF SUBSTITUTES

12.3.5 COMPETITIVE RIVALRY

13 EQUIPMENT

13.1 MARKET SNAPSHOT & GROWTH ENGINE

13.2 MARKET OVERVIEW

13.2.1 KEY INSIGHTS

13.3 HEATING

13.3.1 MARKET OVERVIEW

13.3.2 MARKET SIZE & FORECAST

13.3.3 MARKET BY GEOGRAPHY

13.3.4 HEAT PUMPS: MARKET SIZE & FORECAST

13.3.5 BOILER UNITS: MARKET SIZE & FORECAST

13.3.6 FURNACES: MARKET SIZE & FORECAST

13.3.7 OTHER HEATING EQUIPMENT: MARKET SIZE & FORECAST

13.4 AIR CONDITIONING

13.4.1 MARKET OVERVIEW

13.4.2 KEY TAKEAWAYS

13.4.3 MARKET BY GEOGRAPHY

13.4.4 RAC: MARKET SIZE & FORECAST

13.4.5 CAC: MARKET SIZE & FORECAST

13.4.6 CHILLERS: MARKET SIZE & FORECAST

13.4.7 HEAT EXCHANGER: MARKET SIZE & FORECAST (INCLUDES COOLING TOWERS)

13.4.8 OTHER AIR CONDITIONING EQUIPMENT: MARKET SIZE & FORECAST

13.5 VENTILATION

13.5.1 MARKET OVERVIEW

13.5.2 MARKET SIZE & FORECAST

13.5.3 MARKET BY GEOGRAPHY

13.5.4 AIR HANDLING UNITS: MARKET SIZE & FORECAST

13.5.5 AIR FILTERS: MARKET SIZE & FORECAST

13.5.6 HUMIDIFIERS & DEHUMIDIFIERS: MARKET SIZE & FORECAST

13.5.7 FAN COIL UNITS: MARKET SIZE & FORECAST

13.5.8 OTHER VENTILATION EQUIPMENT: MARKET SIZE & FORECAST

14 END USER

14.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)

14.2 MARKET OVERVIEW

14.3 RESIDENTIAL

14.3.1 MARKET OVERVIEW

14.3.2 MARKET SIZE & FORECAST

14.3.3 MARKET BY GEOGRAPHY

14.4 COMMERCIAL

14.4.1 MARKET OVERVIEW

14.4.2 MARKET SIZE & FORECAST

14.4.3 MARKET BY GEOGRAPHY

14.4.4 OFFICE SPACES: MARKET SIZE & FORECAST

14.4.5 AIRPORTS & PUBLIC UTILITIES: MARKET SIZE & FORECAST

14.4.6 HOSPITALITY: MARKET SIZE & FORECAST

14.4.7 HOSPITALS: MARKET SIZE & FORECAST

14.4.8 INDUSTRIAL AND OTHERS: MARKET SIZE & FORECAST

15 GEOGRAPHY

15.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)

15.2 GEOGRAPHY OVERVIEW

16 APAC

16.1 MARKET OVERVIEW

16.1.1 GROWTH FACTORS:

16.2 MARKET SIZE & FORECAST

16.3 EQUIPMENT

16.3.1 MARKET SIZE & FORECAST

16.4 HEATING

16.4.1 MARKET SIZE & FORECAST

16.5 AIR CONDITIONING

16.5.1 MARKET SIZE & FORECAST

16.6 VENTILATION

16.6.1 MARKET SIZE & FORECAST

16.7 END USER

16.7.1 MARKET SIZE & FORECAST

16.8 COMMERCIAL APPLICATION

16.8.1 MARKET SIZE & FORECAST

16.9 KEY COUNTRIES

16.9.1 CHINA: MARKET SIZE & FORECAST

16.9.2 JAPAN: MARKET SIZE & FORECAST

16.9.3 INDIA: MARKET SIZE & FORECAST

16.9.4 AUSTRALIA: MARKET SIZE & FORECAST

17 EUROPE

17.1 MARKET OVERVIEW

17.2 EQUIPMENT

17.2.1 MARKET SIZE & FORECAST

17.3 HEATING

17.3.1 MARKET SIZE & FORECAST

17.4 AIR CONDITIONING

17.4.1 MARKET SIZE & FORECAST

17.5 VENTILATION

17.5.1 MARKET SIZE & FORECAST

17.6 END USER

17.6.1 MARKET SIZE & FORECAST

17.7 COMMERCIAL APPLICATION

17.7.1 MARKET SIZE & FORECAST

18 WESTERN EUROPE

18.1 MARKET OVERVIEW

18.2 MARKET SIZE & FORECAST

18.3 EQUIPMENT

18.3.1 MARKET SIZE & FORECAST

18.4 END USER

18.4.1 MARKET SIZE & FORECAST

18.5 KEY COUNTRIES

18.5.1 GERMANY: MARKET SIZE & FORECAST

18.5.2 FRANCE: MARKET SIZE & FORECAST

18.5.3 UK: MARKET SIZE & FORECAST

18.5.4 ITALY: MARKET SIZE & FORECAST

18.5.5 NETHERLANDS: MARKET SIZE & FORECAST

19 NORDIC

19.1 MARKET OVERVIEW

19.2 MARKET SIZE & FORECAST

19.3 EQUIPMENT

19.3.1 MARKET SIZE & FORECAST

19.4 END USER

19.4.1 MARKET SIZE & FORECAST

19.5 KEY COUNTRIES

19.5.1 NORWAY: MARKET SIZE & FORECAST

19.5.2 DENMARK: MARKET SIZE & FORECAST

19.5.3 SWEDEN: MARKET SIZE & FORECAST

19.5.4 OTHER NORDIC COUNTRIES: MARKET SIZE & FORECAST

20 CENTRAL & EASTERN EUROPE (CEE)

20.1 MARKET OVERVIEW

20.2 MARKET SIZE & FORECAST

20.3 EQUIPMENT

20.3.1 MARKET SIZE & FORECAST

20.4 END USER

20.4.1 MARKET SIZE & FORECAST

20.5 KEY COUNTRIES

20.5.1 RUSSIA: MARKET SIZE & FORECAST

20.5.2 POLAND & AUSTRIA: MARKET SIZE & FORECAST

20.5.3 OTHER CEE COUNTRIES: MARKET SIZE & FORECAST

21 NORTH AMERICA

21.1 MARKET OVERVIEW

21.2 MARKET SIZE & FORECAST

21.3 EQUIPMENT

21.3.1 MARKET SIZE & FORECAST

21.4 HEATING

21.4.1 MARKET SIZE & FORECAST

21.5 AIR CONDITIONING

21.5.1 MARKET SIZE & FORECAST

21.6 VENTILATION

21.6.1 MARKET SIZE & FORECAST

21.7 END USER

21.7.1 MARKET SIZE & FORECAST

21.8 COMMERCIAL APPLICATION

21.8.1 MARKET SIZE & FORECAST

21.9 KEY COUNTRIES

21.10 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)

21.10.1 US: MARKET SIZE & FORECAST

21.10.2 CANADA: MARKET SIZE & FORECAST

22 LATIN AMERICA

22.1 MARKET OVERVIEW

22.2 MARKET SIZE & FORECAST

22.3 EQUIPMENT

22.3.1 MARKET SIZE & FORECAST

22.4 HEATING

22.4.1 MARKET SIZE & FORECAST

22.5 AIR CONDITIONING

22.5.1 MARKET SIZE & FORECAST

22.6 VENTILATION

22.6.1 MARKET SIZE & FORECAST

22.7 END USER

22.7.1 MARKET SIZE & FORECAST

22.8 COMMERCIAL APPLICATION

22.8.1 MARKET SIZE & FORECAST

22.9 KEY COUNTRIES

22.10 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)

22.10.1 BRAZIL: MARKET SIZE & FORECAST

22.10.2 MEXICO: MARKET SIZE & FORECAST

22.10.3 ARGENTINA: MARKET SIZE & FORECAST

23 MIDDLE EAST & AFRICA

23.1 MARKET OVERVIEW

23.2 MARKET SIZE & FORECAST

23.3 EQUIPMENT

23.3.1 MARKET SIZE & FORECAST

23.4 HEATING

23.4.1 MARKET SIZE & FORECAST

23.5 AIR CONDITIONING

23.5.1 MARKET SIZE & FORECAST

23.6 VENTILATION

23.6.1 MARKET SIZE & FORECAST

23.7 END USER

23.7.1 MARKET SIZE & FORECAST

23.8 COMMERCIAL APPLICATION

23.8.1 MARKET SIZE & FORECAST

23.9 KEY COUNTRIES

23.10 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)

23.10.1 SAUDI ARABIA: MARKET SIZE & FORECAST

23.10.2 UAE: MARKET SIZE & FORECAST

23.10.3 SOUTH AFRICA: MARKET SIZE & FORECAST

24 COMPETITIVE LANDSCAPE

24.1 COMPETITION OVERVIEW

25 KEY COMPANY PROFILES

25.1 SYSTEMAIR

25.1.1 BUSINESS OVERVIEW

25.1.2 PRODUCT OFFERINGS

25.1.3 KEY STRATEGIES

25.1.4 KEY STRENGTHS

25.1.5 KEY OPPORTUNITIES

25.2 JOHNSON CONTROLS

25.3 ZEHNDER

25.4 OSTBERG

25.5 ALDES

25.6 BOSCH

25.7 DAIKIN

25.8 SAMSUNG

25.9 MITSUBISHI ELECTRIC

26 OTHER PROMINENT VENDORS

26.1 LG

26.1.1 BUSINESS OVERVIEW

26.1.2 PRODUCT OFFERINGS

26.2 PANASONIC

26.3 CARRIER

26.4 MIDEA

26.5 REGAL REXNORD CORPORATION

26.6 RAYTHEON TECHNOLOGIES CORPORATION

26.7 HONEYWELL

26.8 FLAKT GROUP

26.9 BEIJER REF

26.10 FLEXIT

26.11 GRUNDFOS

26.12 SWEGON

26.13 VTS

26.14 NUAIRE

26.15 NORTEK

26.16 ALFA LAVAL

26.17 HITACHI

26.18 LU-VE

26.19 VENT-AXIA

26.20 ROSENBERG

26.21 S & P

26.22 WOLF

26.23 CIAT

26.24 AL-KO

26.25 DYNAIR

26.26 DANFOSS

26.27 LENNOX

26.28 BACKER SPRINGFIELD

26.29 DUNHAM BUSH

26.30 TCL

26.31 TROX

26.32 VAILLANT GROUP

26.33 INGERSOLL RAND

26.34 CAMFIL

27 REPORT SUMMARY

27.1 KEY TAKEAWAYS

27.2 STRATEGIC RECOMMENDATIONS

28 QUANTITATIVE SUMMARY

28.1 MARKET BY GEOGRAPHY

28.1.1 MARKET SIZE & FORECAST

28.2 MARKET BY EQUIPMENT

28.2.1 MARKET SIZE & FORECAST

28.3 MARKET BY AIR CONDITIONING EQUIPMENT

28.3.1 MARKET SIZE & FORECAST

28.4 MARKET BY HEATING EQUIPMENT

28.4.1 MARKET SIZE & FORECAST

28.5 MARKET BY VENTILATION EQUIPMENT

28.5.1 MARKET SIZE & FORECAST

28.6 MARKET BY END USER

28.6.1 MARKET SIZE & FORECAST

28.7 MARKET BY COMMERCIAL APPLICATION

28.7.1 MARKET SIZE & FORECAST

29 APPENDIX

29.1 ABBREVIATIONS

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