HVAC Equipment Market to grow at over 6.15% CAGR during 2021-2025
The HVAC equipment market is driven by increasing residential and commercial construction activity, cost benefits associated with renting HVAC equipment, and rising demand for centralized HVAC systems. In addition, other factors such as the growing adoption of prefabricated building solutions, the growing preference for custom HVAC systems and the advent of smart HVAC systems are expected to drive the HVAC equipment market to witness a CAGR of more than 6.15% during the forecast period. However, strict regulations may hinder the growth of the market during the forecast period.
With the ongoing spread of the novel coronavirus pandemic, organizations around the world are gradually flattening their recession curves by leveraging technology. Many companies will go through a response, recovery and renewal phase. Building business resilience and enabling agility will help organizations move forward on their journey from the COVID-19 crisis to the Next Normal.
The recovery process involves several stages including:-
- Adjust their strategic planning to move forward once business stability kicks in.
- Focus on agile execution of proposed and approved changes.
- Assessment of the impact on critical IT infrastructure and software system
Find COVID-19 insights Here
Key Market Forecast Considerations:
- Impact of lockdowns, supply chain disruptions, destruction of demand and change in customer behaviour
- Optimistic, probable and pessimistic scenarios for all markets as the impact of the pandemic unfolds
- Pre- and Post-COVID-19 Market Estimates
- Quarterly impact analysis and updates of market estimates
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Facilities Management Market by End User and Geography – 2021-2025 Forecast and Analysis
HVAC Market by End User, Type and Geography – Forecast and Analysis 2021-2025
Residential HVAC Market by Product and Geography – Forecast and Analysis 2020-2024
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Top HVAC Equipment Market Entrants:
- Daikin Industries Ltd.
- Fujitsu Ltd.
- Haier Smart Home Co. Ltd.
- Ingersoll Rand Inc
- Johnson Controls International Plc
- LG Electronics Inc.
- MIDEA GROUP
- Nortek Inc.
- Robert Bosch GMBH
- Samsung Electronics Co. Ltd.
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2021-2025 HVAC Equipment Market: Segmentation
The market for HVAC equipment is segmented as follows:
- Air Conditioning Equipment
- Heating equipment
- Ventilation equipment
- End User
- North America
- South America
The air conditioning equipment segment was the largest revenue-generating product segment in 2020, mainly due to rising temperature and humidity around the world. In addition, rising per capita income and growing preference for air conditioning products will further accelerate the growth of the segment in the coming years. Geographically, 53% of the growth will come from APAC. The growth is mainly attributable to investment by large funds in construction projects by both public and private organizations in India and China.
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- Sellers covered
- Supplier Classification
- Market positioning of suppliers
- Competitive Scenario
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