Keywords : hvac equipment, air conditioner, heating equipment, HVAC, ventilation
Global HVAC demand to rise more than 6% annually through 2014 Global demand for HVAC equipment is projected to rise over six percent per year through 2014 to more than $88 billion. Demand will benefit from recovery in the key US market, which will rebound from dismal levels in 2009. Demand in the Asia/Pacific region will also outpace the global average, increasing 6.6 percent per year through 2014. China will be the fastest growing...
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Global HVAC demand to rise more than 6% annually through 2014
Global demand for HVAC equipment is projected to rise over six percent per year through 2014 to more than $88 billion. Demand will benefit from recovery in the key US market, which will rebound from dismal levels in 2009. Demand in the Asia/Pacific region will also outpace the global average, increasing 6.6 percent per year through 2014. China will be the fastest growing national market and comprise the largest share of global demand growth through 2014. Aboveaverage growth will also occur in India due to solid gains in the number of households and rising per capita incomes.
US market to pace growth among developed
areas Despite a modest outlook in the shorter term, US demand for HVAC equipment is expected to rise over seven percent per year through 2014. Gains will result from recovery in residential building construction expenditures, which plummeted in 2009 due to the economic recession. Advances in other developed areas, such as Canada and Japan, will be more modest, reflecting high penetration rates and modest construction gains. Low ownership rates in Western Europe (relative to other industrialized nations) will present opportunities.
Cooling equipment to continue outpacing heaters
Cooling equipment growth will continue to outpace heating equipment gains through 2014, reflecting the lower penetration rates of air conditioning equipment. Among products, room air conditioners will post the strongest gains worldwide. Rising income levels in Asia, especially China, will bolster demand for window-type air conditioners. In Western Europe, mini-split room air conditioners will post solid gains due to the lack of ductwork in most European homes. Gains for other cooling equipment such as chillers will post solid gains due to rising nonresidential construction expenditures. China has grown into the largest supplier of HVAC equipment due to its inexpensive labor pool, which has made the pricing of Chinese goods especially competitive. China is particularly strong in the room air conditioner segment, exporting products to the US, Western Europe and throughout Asia.
Study coverage
This new industry study presents historical demand data (1999, 2004, 2009) plus forecasts for 2014 and 2019 by product (e.g., room air conditioners, unitary air conditioners, warm air furnaces, boilers), world regional market and major national market. The study also details market environment factors, assesses industry composition, evaluates company market share data and profiles HVAC equipment producers worldwide including Carrier, Daikin, Haier, Lennox and LG Electronics.
Global HVAC Industry
I. EXECUTIVE SUMMARY 1
II. MARKET ENVIRONMENT 4
General 4
World Population Outlook 5
World Urbanization Patterns 7
World Household Formation Patterns 8
World Economic Overview 10
Recent Historical Trends 10
World Economic Outlook 12
Fixed Investment Trends 16
Personal Income & Expenditure Trends 18
Building Construction Expenditure Trends 20
Climatic & Cultural Factors 22
Pricing Patterns 24
Legal & Regulatory Issues 25
Montreal Protocol 25
Kyoto Protocol 27
Energy Efficiency 29
Technology & Product Innovation 30
III. SUPPLY & DEMAND 33
General 33
World HVAC Equipment Markets 34
Regional Sales Trends 34
Products 38
Room Air Conditioners 39
Unitary Air Conditioners 41
Other Cooling Equipment 43
Warm Air Furnaces 44
Boilers & Other Heating Equipment 46
World HVAC Equipment Production 49
International Trade Flows 52
IV. NORTH AMERICA 54
North America 54
Supply & Demand 54
Outlook & Suppliers 56
United States 59
Canada 65
Mexico 70
V. WESTERN EUROPE 75
Western Europe 75
Supply & Demand 75
Outlook & Suppliers 78
France 81
Germany 86
Italy 91
Spain 96
United Kingdom 101
Other Western Europe 106
VI. ASIA/PACIFIC 113
Asia/Pacific 113
Supply & Demand 113
Outlook & Suppliers 116
Australia 119
China 124
India 130
Indonesia 135
Japan 140
South Korea 145
Other Asia/Pacific 150
VII. OTHER REGIONS 157
Central & South America 157
Brazil 162
Other Central & South America 167
Eastern Europe 172
Poland 177
Russia 182
Other Eastern Europe 187
Africa/Mideast 192
Turkey 197
Other Africa/Mideast 202
VIII. INDUSTRY STRUCTURE 207
General 207
Industry Composition 208
Market Share 211
Product Development & Manufacturing 214
Marketing 216
Distribution 218
Cooperative Agreements 219
Financial Requirements 226
Mergers, Acquisitions & Industry Restructuring 228
Company Profiles 230
Advanced Distributor Products, see Lennox International
Airwell Air Conditioning, see Elco
Alarko Carrier Industry and Trade, see United
Technologies
Alliance Compressors, see Emerson Electric, Ingersoll-
Rand and Lennox International
Allied Air Enterprises, see Lennox International
Broan-NuTone, see Nortek
Carlyle Compressor, see United Technologies
Carrier, see United Technologies
Chunlan Group Corporation 232
Circul-Aire, see Dectron Internationale
Control Techniques, see Emerson Electric
Daikin Industries Limited 234
Danfoss A/S 239
Dectron Internationale Incorporated 246
Dunham-Bush Holding Berhad 248
Eaton-Williams Group, see Nortek
Elco Holdings Limited 251
Electrolux AB 253
Embraco, see Whirlpool Corporation
Emerson Electric Company 254
Empresa Brasileira de Compressores, see Whirlpool
Fedders North America, see Elco
Flexible Technologies, see Smiths Group
Fusite, see Emerson Electric
GD Midea Holding Company Limited 259
Goodman Global Incorporated 261
Governair, see Nortek
Gree Electric Appliances Incorporated 263
Haier Group Company 266
Hartford Compressors, see Dunham-Bush
Ingersoll-Rand plc 269
International Comfort Products, see United Technologies
J&E Hall International, see Daikin Industries
Johnson Controls Incorporated 274
Lennox International Incorporated 278
LG Electronics Incorporated 282
Mammoth-Webco, see Nortek
Maytag, see Whirlpool
McQuay International, see Daikin Industries
Nordyne, see Nortek
Nortek Incorporated 284
Paloma Industries Limited 289
Panasonic Corporation 292
RefPlus, see Dectron Internationale
Rheem Manufacturing, see Paloma Industries
Ruud Air Conditioning, see Paloma Industries
Samsung Electronics Company Limited 295
SANYO Electric Company Limited 297
Sharp Corporation 300
Smiths Group plc 302
Tau Energy Products Guiyang, see Danfoss
Tecumseh Products Company 304
Therm-O-Disc, see Emerson Electric
Thermoplus Air, see Dectron Internationale
Toshiba Carrier Corporation, see United Technologies
Trane, see Ingersoll-Rand
Tutco, see Smiths Group
United Technologies Corporation 306
Venmar Ventilation, see Nortek
Ventrol Air Handling Systems, see Nortek
Voltas Limited 313
Whirlpool Corporation 315
Zhuhai Gree Daikin Device, see Daikin Industries and
Gree Electric Appliances
LIST OF TABLES
SECTION I -- EXECUTIVE SUMMARY
Summary Table 3
SECTION II -- MARKET ENVIRONMENT
1 World Population by Region 6
2 World Urban Population by Region 8
3 World Households by Region 9
4 World Gross Domestic Product by Region 16
5 World Fixed Investment by Region 18
6 World Per Capita GDP by Region 20
7 World Building Construction Expenditures by Region 22
SECTION III -- SUPPLY & DEMAND
1 World HVAC Equipment Demand by Region 36
2 World HVAC Equipment Demand by Product 39
3 World Room Air Conditioner Demand by Region 41
4 World Unitary Air Conditioner Demand by Region 43
5 World Other Cooling Equipment Demand by Region 44
6 World Warm Air Furnace Demand by Region 46
7 World Boiler & Other Heating Equipment Demand by Region 49
8 World HVAC Equipment Shipments by Region 51
9 World HVAC Equipment Net Exports by Region 53
SECTION IV -- NORTH AMERICA
1 North America: HVAC Equipment Supply & Demand 56
2 North America: HVAC Equipment Demand by Type & Market 58
3 United States: HVAC Equipment Supply & Demand 62
4 United States: HVAC Equipment Demand by Type & Market 64
5 Canada: HVAC Equipment Supply & Demand 67
6 Canada: HVAC Equipment Demand by Type & Market 69
7 Mexico: HVAC Equipment Supply & Demand 72
8 Mexico: HVAC Equipment Demand by Type & Market 74
SECTION V -- WESTERN EUROPE
1 Western Europe: HVAC Equipment Supply & Demand 78
2 Western Europe: HVAC Equipment Demand by Type & Market 80
3 France: HVAC Equipment Supply & Demand 83
4 France: HVAC Equipment Demand by Type & Market 85
5 Germany: HVAC Equipment Supply & Demand 88
6 Germany: HVAC Equipment Demand by Type & Market 90
7 Italy: HVAC Equipment Supply & Demand 93
8 Italy: HVAC Equipment Demand by Type & Market 95
9 Spain: HVAC Equipment Supply & Demand 98
10 Spain: HVAC Equipment Demand by Type & Market 100
11 United Kingdom: HVAC Equipment Supply & Demand 103
12 United Kingdom: HVAC Equipment Demand
by Type & Market 105
13 Other Western Europe: HVAC Equipment Supply & Demand 108
14 Other Western Europe: HVAC Equipment Demand
by Type & Market 110
15 Other Western Europe: HVAC Equipment Demand by Country 112
SECTION VI -- ASIA/PACIFIC
1 Asia/Pacific: HVAC Equipment Supply & Demand 116
2 Asia/Pacific: HVAC Equipment Demand by Type & Market 118
3 Australia: HVAC Equipment Supply & Demand 121
4 Australia: HVAC Equipment Demand by Type & Market 123
5 China: HVAC Equipment Supply & Demand 127
6 China: HVAC Equipment Demand by Type & Market 129
7 India: HVAC Equipment Supply & Demand 132
8 India: HVAC Equipment Demand by Type & Market 134
9 Indonesia: HVAC Equipment Supply & Demand 137
10 Indonesia: HVAC Equipment Demand by Type & Market 139
11 Japan: HVAC Equipment Supply & Demand 142
12 Japan: HVAC Equipment Demand by Type & Market 144
13 South Korea: HVAC Equipment Supply & Demand 147
14 South Korea: HVAC Equipment Demand by Type & Market 149
15 Other Asia/Pacific: HVAC Equipment Supply & Demand 152
16 Other Asia/Pacific: HVAC Equipment Demand
by Type & Market 154
17 Other Asia/Pacific: HVAC Equipment Demand by Country 156
SECTION VII -- OTHER REGIONS
1 Central & South America: HVAC Equipment
Supply & Demand 159
2 Central & South America: HVAC Equipment Demand
by Type & Market 161
3 Brazil: HVAC Equipment Supply & Demand 164
4 Brazil: HVAC Equipment Demand by Type & Market 166
5 Other Central & South America: HVAC Equipment
Supply & Demand 169
6 Other Central & South America: HVAC Equipment Demand
by Type & Market 171
7 Eastern Europe: HVAC Equipment Supply & Demand 174
8 Eastern Europe: HVAC Equipment Demand
by Type & Market 176
9 Poland: HVAC Equipment Supply & Demand 179
10 Poland: HVAC Equipment Demand by Type & Market 181
11 Russia: HVAC Equipment Supply & Demand 184
12 Russia: HVAC Equipment Demand by Type & Market 186
13 Other Eastern Europe: HVAC Equipment Supply & Demand 189
14 Other Eastern Europe: HVAC Equipment Demand
by Type & Market 191
15 Africa/Mideast: HVAC Equipment Supply & Demand 194
16 Africa/Mideast: HVAC Equipment Demand
by Type & Market 196
17 Turkey: HVAC Equipment Demand Supply & Demand 199
18 Turkey: HVAC Equipment Demand by Type & Market 201
19 Other Africa/Mideast: HVAC Equipment Supply & Demand 204
20 Other Africa/Mideast: HVAC Equipment Demand
by Type & Market 206
SECTION VIII -- INDUSTRY STRUCTURE
1 World HVAC Equipment Sales by Company, 2009 210
2 Selected Cooperative Agreements 222
3 Selected Acquisitions & Divestitures 229
LIST OF CHARTS
SECTION III -- SUPPLY & DEMAND
1 World HVAC Equipment Demand by Region, 2009 37
2 World HVAC Equipment Demand Growth
by Region, 2009-2014 38
3 World HVAC Equipment Shipments by Region, 2009 52
SECTION VIII -- INDUSTRY STRUCTURE
1 World HVAC Equipment Market Share by Company, 2009 211
