HVAC trends: top changes impacting the market

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Global HVAC Industry


The global heating, ventilation and air-conditioning (HVAC) equipment market is expected to record an increase in demand of 6% yearly through 2014, bringing market worth to more than $88 billion, according to research from Freedonia.


US market recovery following 2009 lows will lead demand. Growth in the cooling equipment segment will be stronger than in heating equipment gains through 2014 due to a falling off in air conditioning equipment sales. Room air conditioners will lead growth and window-type air conditioner demand will be fuelled by growing levels of income in Asia. Mini-split room air conditioners will witness growing demand in Western Europe.


Growing non-residential construction spending will bolster gains for other cooling equipment, including chillers. China dominates HVAC equipment supply, benefiting from cheaper labor that allows Chinese suppliers to offer more competitive prices. China is an important supplier in the room air conditioner market, with equipment being shipped across Asia and also further afield to Western Europe and the US.


Market Segments


  • The global automotive HVAC market is expected to record yearly growth in excess of 6% between 2011 and 2015, according to TechNavio. Market growth is fuelled by the declining expense of compact HVAC systems for compact vehicle market segments. Current trends in the world automotive HVAC sector include HVAC component integration to improve space utilization in products. Obstacles to market growth include the need for original equipment manufacturers to offer more powerful, compact and efficient HVAC systems for use in small-segment cars with limited engine capacities. Leading outfits currently operating in the global HVAC market include Denso, Behr, Visteon and Valeo.


  • The world ventilation and accessory set industry is forecast to reach almost $2.5 billion in 2014, reports TechNavio. Market growth is fuelled by the rising number of people suffering from respiratory diseases in developed and emerging economies. Obstacles to market growth include the Prospective Payment System (PPS) restriction. After-sales service is playing an increasing important role in the global ventilation and accessory set market. Leading players present in the market include Newport, Maquet, Draeger Medical, Hamilton Medical, Resmed, Covidien, Carefusion and Respironics.



Regional Market Share


  • Asia-Pacific is set to post the highest increase in HVAC equipment demand, at close to 7% yearly increase in demand through 2014, reports Freedonia. China’s HVAC market will outpace growth in other regions, and will also account for the lion’s share of world demand through 2014.


  • India will similarly post a strong increase in demand over the same period, fuelled by rising levels of income. Though HVAC equipment demand in the US will be weaker in relative terms in the short term, it is forecast to increase at a yearly rate of more than 7% through 2014.


  • US HVAC equipment demand will be driven by rising residential building construction spending. Growth in other developed countries such as Japan and Canada will be slower due to less-impressive construction gains and higher penetration rates. Western Europe’s low ownership rates represent good potential, compared with other industrialized regions.


  • EU central air conditioning system shipments were estimated at just over 2.5 million units in 2010, worth in excess of $5 billion, reports Industry Experts. While unit shipments growth in the nine-year period ending 2015 is expected to remain low, value shipments are forecast to represent good growth. EU central air conditioning systems manufacturers were led by France, Italy and Germany in 2010, with the three combining to account for close to half of overall shipment value. Within the EU, Italy dominates the manufacturing of central air conditioning systems. In 2010, Italy exceeded a shipment value of $1 billion, and is forecast to reach almost $2 billion by 2015, representing 7% yearly growth over the five-year period. Emerging manufacturing nations such as Turkey and Czech Republic are expected to maintain double-digit growth through 2015. The recession has slowed growth in the central air conditioning industry across much of the EU apart from the UK, Spain, Turkey, Czech Republic and Italy, all of which recorded strong growth in 2010.



Market Outlook


The global HVAC equipment market will continue to benefit from economic recovery following the crisis. Koncept Analytics underlines product innovation and increasing consolidation as key factors in the global filtration industry moving forward. Major players will continue to compete through price, location and product performance. Automotive market expansion will continue to contribute to demand for filters over the coming years.


Technical improvements will continue to benefit the HVAC market, including dehumidification optimization, incorporating dehumidifiers in air conditioners, eliminating moisture retention on coils, boosting latent heat recovery, and eliminating air leakage.



Leading Industry Associations


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