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, /PRNewswire/ – According to Technavio, the global HVAC equipment market size is estimated to grow by USD 48.34 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 6.22% during the forecast period. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 55%. For more Insights on market size, Request a sample report

Global HVAC Equipment Market – Five Forces
The global cloud data warehouse market is fragmented, and the five forces analysis covers– 

• Bargaining Power of Buyers 
• The threat of New Entrants
• Threat of Rivalry
• Bargaining Power of Suppliers
• Threat of Substitutes
• Interpretation of porter’s five models helps to strategize the business, for entire details – buy the report!

HVAC equipment market – Customer Landscape 

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

HVAC equipment market – Segmentation Assessment

Segment Overview
Technavio has segmented the market based on the end-user (non-residential and residential), product (air conditioning equipment, heating equipment, and ventilation equipment), and geography (APAC, Europe, North America, Middle East and Africa, and South America). 

• The market growth in the non-residential segment will be significant during the forecast period. End-users of this segment include manufacturing facilities, commercial and industrial buildings, data centers, retail stores, healthcare facilities, and educational institutions.

Geography Overview
By geography, the global HVAC equipment market is segmented into APAC, Europe, North America, Middle East and Africa, and South America. The segment is driven by the increase in construction activities in the non-residential sector. Also, the rising need for energy efficiency among organizations and commercial firms is contributing to the growth of the segment.

• APAC will account for 55% of the global market growth during the forecast period. The growth of the regional market can be attributed to factors such as the increasing construction of commercial and industrial buildings, rising investments in infrastructural development, and rapid urbanization.

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HVAC equipment market – Market Dynamics

Key factor driving market growth

• The market is driven by increasing residential and commercial construction activities.
• The growth in global population and regulatory support from government have led to an increase in the number of construction activities worldwide.
• According to The World Bank Group data, the global population increased from 7.53 billion in 2017 to 7.84 billion in 2021.
• Such an increase in the global population is increasing the demand for residential and commercial spaces.
• This is consequently increasing the demand for HVAC, which is driving the growth of the market.

Leading trends influencing the market 

• The advent of smart HVAC systems is identified as a major trend in the market.
• The demand for smart HVAC systems is increasing among end-users. These systems are more user-friendly, efficient, and convenient when compared with traditional HVAC systems.
• Smart HVAC systems consist of sensors that can help users to prevent costly breakdowns. They also have a built-in monitor, which can be used to alert the user regarding issues such as changing the filter or the slow operation of the blower.
• Moreover, smart HVAC systems automatically adjust operating and start-up speeds depending on the temperature requirements, thereby making them more energy efficient.
• Many such benefits are increasing the popularity of smart HVAC systems among end-users.

Major challenges hindering market growth

• Stringent regulations are expected to hinder the growth of the market during the forecast period.
• Many governments and independent agencies across geographies have framed various regulations to ensure that proper measures are taken while operating, installing, and manufacturing HVAC equipment.
• For instance, the International Mechanical Code (IMC) focuses on the maintenance and design of HVAC systems. According to the IMC, the inspection of the maintenance of HVAC systems must be performed in accordance with ASHRAE/ACCA/ANSI Standard 180. Also, the design of the HVAC system must take into consideration all the effects of HVAC systems in both smoke and fire situations.
• The need comply with many such regulations increases the cost borne by the vendors and may affect their profit margins.

Driver, trend, and challenges are the factor of market dynamics that state about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this HVAC equipment market report?

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

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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 Product
• 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 ($ billion)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)
• 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 HVAC equipment market 2017 – 2021
• Exhibit 18: Historic Market Size – Data Table on Global HVAC equipment market 2017 – 2021 ($ billion)

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

• 4.3 Product Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Product Segment 2017 – 2021 ($ billion)

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

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

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 Non-residential – Market size and forecast 2022-2027
• Exhibit 34: Chart on Non-residential – Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Non-residential – Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Non-residential – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Non-residential – Year-over-year growth 2022-2027 (%)

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

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

7 Market Segmentation by Product

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

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

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

• 7.4 Heating equipment – Market size and forecast 2022-2027
• Exhibit 51: Chart on Heating equipment – Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on Heating equipment – Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on Heating equipment – Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Heating equipment – Year-over-year growth 2022-2027 (%)

• 7.5 Ventilation equipment – Market size and forecast 2022-2027 
• Exhibit 55: Chart on Ventilation equipment – Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Ventilation equipment – Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Ventilation equipment – Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Ventilation equipment – Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Product 
• Exhibit 59: Market opportunity by Product ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 APAC – Market size and forecast 2022-2027
• Exhibit 65: Chart on APAC – Market size and forecast 2022-2027 ($ billion)
• Exhibit 66: Data Table on APAC – Market size and forecast 2022-2027 ($ billion)
• Exhibit 67: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027 
• Exhibit 69: Chart on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 70: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 71: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 North America – Market size and forecast 2022-2027
• Exhibit 73: Chart on North America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on North America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 77: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
• 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 (%)

• 9.7 South America – Market size and forecast 2022-2027
• Exhibit 81: Chart on South America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on South America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.8 China – Market size and forecast 2022-2027
• Exhibit 85: Chart on China – Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on China – Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.9 US – Market size and forecast 2022-2027
• Exhibit 89: Chart on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.10 Japan – Market size and forecast 2022-2027
• Exhibit 93: Chart on Japan – Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on Japan – Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.11 Germany – Market size and forecast 2022-2027
• Exhibit 97: Chart on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.12 UK – Market size and forecast 2022-2027
• Exhibit 101: Chart on UK – Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on UK – Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 A. O. Smith Corp. 
• Exhibit 112: A. O. Smith Corp. – Overview
• Exhibit 113: A. O. Smith Corp. – Key offerings

• 12.4 AAON Inc. 
• Exhibit 114: AAON Inc. – Overview
• Exhibit 115: AAON Inc. – Business segments
• Exhibit 116: AAON Inc. – Key offerings
• Exhibit 117: AAON Inc. – Segment focus

• 12.5 AB Electrolux. 
• Exhibit 118: AB Electrolux. – Overview
• Exhibit 119: AB Electrolux. – Business segments
• Exhibit 120: AB Electrolux. – Key news
• Exhibit 121: AB Electrolux. – Key offerings
• Exhibit 122: AB Electrolux. – Segment focus

• 12.6 Daikin Industries Ltd. 
• Exhibit 123: Daikin Industries Ltd. – Overview
• Exhibit 124: Daikin Industries Ltd. – Business segments
• Exhibit 125: Daikin Industries Ltd. – Key news
• Exhibit 126: Daikin Industries Ltd. – Key offerings
• Exhibit 127: Daikin Industries Ltd. – Segment focus

• 12.7 Emerson Electric Co 
• Exhibit 128: Emerson Electric Co – Overview
• Exhibit 129: Emerson Electric Co – Business segments
• Exhibit 130: Emerson Electric Co – Key news
• Exhibit 131: Emerson Electric Co – Key offerings
• Exhibit 132: Emerson Electric Co – Segment focus

• 12.8 Fujitsu Ltd. 
• Exhibit 133: Fujitsu Ltd. – Overview
• Exhibit 134: Fujitsu Ltd. – Business segments
• Exhibit 135: Fujitsu Ltd. – Key news
• Exhibit 136: Fujitsu Ltd. – Key offerings
• Exhibit 137: Fujitsu Ltd. – Segment focus

• 12.9 Gree Electric 
• Exhibit 138: Gree Electric – Overview
• Exhibit 139: Gree Electric – Product / Service
• Exhibit 140: Gree Electric – Key offerings

• 12.10 Haier Smart Home Co. Ltd. 
• Exhibit 141: Haier Smart Home Co. Ltd. – Overview
• Exhibit 142: Haier Smart Home Co. Ltd. – Business segments
• Exhibit 143: Haier Smart Home Co. Ltd. – Key offerings
• Exhibit 144: Haier Smart Home Co. Ltd. – Segment focus

• 12.11 Ingersoll Rand Inc. 
• Exhibit 145: Ingersoll Rand Inc. – Overview
• Exhibit 146: Ingersoll Rand Inc. – Business segments
• Exhibit 147: Ingersoll Rand Inc. – Key offerings
• Exhibit 148: Ingersoll Rand Inc. – Segment focus

• 12.12 Johnson Controls International Plc. 
• Exhibit 149: Johnson Controls International Plc. – Overview
• Exhibit 150: Johnson Controls International Plc. – Business segments
• Exhibit 151: Johnson Controls International Plc. – Key news
• Exhibit 152: Johnson Controls International Plc. – Key offerings
• Exhibit 153: Johnson Controls International Plc. – Segment focus

• 12.13 LG Electronics Inc. 
• Exhibit 154: LG Electronics Inc. – Overview
• Exhibit 155: LG Electronics Inc. – Business segments
• Exhibit 156: LG Electronics Inc. – Key news
• Exhibit 157: LG Electronics Inc. – Key offerings
• Exhibit 158: LG Electronics Inc. – Segment focus

• 12.14 MIDEA Group 
• Exhibit 159: MIDEA Group – Overview
• Exhibit 160: MIDEA Group – Business segments
• Exhibit 161: MIDEA Group – Key offerings
• Exhibit 162: MIDEA Group – Segment focus

• 12.15 Nortek Inc. 
• Exhibit 163: Nortek Inc. – Overview
• Exhibit 164: Nortek Inc. – Product / Service
• Exhibit 165: Nortek Inc. – Key offerings

• 12.16 Bosch Thermotechnik GmbH 
• Exhibit 166: Bosch Thermotechnik GmbH – Overview
• Exhibit 167: Bosch Thermotechnik GmbH – Product / Service
• Exhibit 168: Bosch Thermotechnik GmbH – Key offerings

• 12.17 Samsung Electronics Co. Ltd. 
• Exhibit 169: Samsung Electronics Co. Ltd. – Overview
• Exhibit 170: Samsung Electronics Co. Ltd. – Business segments
• Exhibit 171: Samsung Electronics Co. Ltd. – Key news
• Exhibit 172: Samsung Electronics Co. Ltd. – Key offerings
• Exhibit 173: Samsung Electronics Co. Ltd. – Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 174: Inclusions checklist
• Exhibit 175: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 176: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 177: Research methodology
• Exhibit 178: Validation techniques employed for market sizing
• Exhibit 179: Information sources

• 13.5 List of abbreviations 
• Exhibit 180: List of abbreviations

About Us
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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