Summary
Major players in the steam & air-conditioning supply market include Carrier Corporation, Trane Inc., Daikin Applied Americas Inc., Goodman Manufacturing Company LP, and Rheem Manufacturing Company.
The global steam & air-conditioning supply market will grow from $96.09 billion in 2022 to $101.59 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The steam & air-conditioning supply market is expected to grow from $123.22 billion in 2027 at a CAGR of 4.9%.
The steam and air conditioning supply market includes revenues earned by entities by providing electric power, natural gas, steam, hot water through a permanent infrastructure.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Steam and air-conditioning supply refer to the production, collection, and distribution of steam and hot water for heating, power, and other purposes.This supply is used to provide steam, heated air, or cooled air.
It also helps in the production and distribution of cooled air and production and distribution of chilled water for cooling purposes.
Western Europe was the largest region in the steam & air-conditioning supply market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The major types of steam and air-conditioning supply are the distribution of steam and heated air and the distribution of cooled air.Heated steam refers to steam at a temperature higher than its boiling point at absolute pressure and is referred to as superheated steam.
It is distributed through multi-brand stores, exclusive stores, online channels, and other channels. It is primarily used by residential and commercial end-users.
The growth in the steam & air-conditioning supply market is due to the higher disposable income, corporate profit, and industrial output, which has resulted in greater demand for air-conditioning and heating, particularly in urban areas.An increase in disposable income is expected to propel the growth of the steam & air-conditioning supply market going forward.
Disposable income refers to the amount of money left to spend and save after income tax has been deducted.Due to a rise in the purchasing capacity of the public people are choosing to buy discretionary products which are costly and provide comfort steam & air-conditioning comes under this category of products.
For instance, according to trading economies, a US-based company provides information about economic indicators, exchange rates, and stock market indexes. Disposable Personal Income in India increased the US $ 3017266.44INR Million in 2021 which is the US $ 2525496.31 Million in 2020. Therefore, an increase in disposable income is driving the growth of the perishable prepared food manufacturing market.
Technological innovations are the key trend gaining popularity in the steam and air-conditioning supply market major companies operating in the market are introducing new technologies such as Experience Zone to sustain their position in the market.For instance, in January 2021, Voltas Limited, an India-based manufacturer of steam and air-conditioning systems launched Experience Zone which helps to meet the growing expectations of consumers this provides real-time experience spaces.
This is designed to experience a new range of Volta’s air conditioners.
The steam and air-conditioning supply companies are adopting zoned steam and air conditioning systems for their reliable efficiency and low energy consumption.The zoned steam and air conditioning systems heat or cool specific areas by controlling zone halves or zone dampers attached inside the vents or ductwork.
The zoned steam and air conditioning system consumes less energy to reach the selected temperature.The sophisticated zone steam and air condition system can be installed in a traditional system to meet the user’s specific needs.
According to HVAC.com, these traditional zoning methods can save the user up to 30% on annual energy usage.
The countries covered in the steam & air-conditioning supply market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The steam and air-conditioning supply market research report is one of a series of new reports that provides steam and air-conditioning supply market statistics, including steam and air-conditioning supply industry global market size, regional shares, competitors with a steam and air-conditioning supply market share, detailed steam and air-conditioning supply market segments, market trends and opportunities, and any further data you may need to thrive in the steam and air-conditioning supply industry. This steam and air-conditioning supply market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
