HVAC Equipment Market by System Type, Business Type, and End user : Global Opportunity Analysis and Industry Forecast, 2021–2030

HVAC Equipment Market by System Type (Central, and Decentralized), Business Type (New Construction, and Retrofits), and End user (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2021–2030

The global HVAC equipment market size was valued at $171.8 billion in 2020, and is projected to reach $290.8 billion by 2030, registering a CAGR of 5.3% from 2021 to 2030. The purpose of an HVAC system is to manage the environment in which it operates. It achieves this by using heating and cooling to regulate the indoor temperature. By controlling the movement and distribution of air inside the room, it also regulates the humidity level in that environment. There are three main types of HVAC systems that include split AC, package heating & air conditioning system and central air conditioning. Unlike split systems, which have separate cold and hot units, package air conditioners include all the components in one unit. A centrifugal fan or blower is used in these elements to assist disperse air throughout the building.
Construction activity has risen as a result of ongoing infrastructure development, urbanization, and industrialization across the world. HVAC equipment are increasingly being used by construction project owners to offer a safe and healthy working environment for their workers. One of the major reasons encouraging the increased usage of heating and cooling technology is climate change. Because of the unpredictability of weather and rising temperatures, many consumers see HVAC equipment as a good investment. Furthermore, HVAC systems enhance the aesthetic value of both residential and business spaces. Companies create goods that are appealing to the eye and provide a variety of design alternatives.
Various key players are improving their product portfolio by launching latest and most advanced technology HVAC equipment and also strengthening market position by implementing various strategic moves such as partnership, acquisition, expanding business and product launch. For instance, in August 2021, Emerson introduced a new Copeland 110cc speed scroll variable compressor with a 36 kW inverter drive. These new solutions are designed to conserve energy and enhance the environment in a variety of commercial air-conditioning applications, including chillers, data centers, and package air conditioners. Such strategic moves are expected to provide lucrative growth in the market during the forecast period.
The HVAC equipment market is segmented on the basis of system type, business type, end-user, and region. By system type, the market is divided into central and decentralized. By business type, it is divided into new construction and retrofits. By end user, it is divided into residential, commercial and industrial. Region wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

COMPETITION ANALYSIS
Key companies profiled in the HVAC equipment market report include Daikin Industries, Ltd., Johnson Controls, Hitachi Air Conditioning Company, LG Electronics Inc., Raytheon Technologies Corporation (United Technologies), Emerson Electric Co., Honeywell International, Inc., Mitsubishi Electric Trane HVAC US LLC, Nortek Global HVAC, Danfoss AS.

KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current and emerging HVAC equipment market trends and dynamics.
- In-depth market analysis is conducted by constructing market estimations for the key market segments between 2020 and 2028.
- Extensive analysis of the HVAC equipment market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
- The global HVAC equipment market forecast analysis from 2021 to 2028 is included in the report.
- The key market players within HVAC equipment market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the HVAC equipment industry.

KEY SEGMENTS

BY SYSTEM TYPE
• Central
• Decentralized

BY BUSINESS TYPE
• New construction
• Retrofits

BY END USER
• Residential
• Commercial
• Industrial

BY REGION
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o UK
o Italy
o Rest of Europe

• Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific

• LAMEA
o Latin America
o Middle East
o Africa

KEY PLAYERS
• Daikin Industries, Ltd.
• Johnson Controls
• Hitachi Air Conditioning Company
• LG Electronics Inc.
• Raytheon Technologies Corporation (United Technologies)
• Emerson Electric Co.
• Honeywell International, Inc.
• Mitsubishi Electric Trane HVAC US LLC
• Nortek Global HVAC
• Danfoss AS