Heating, Ventilation and Air Conditioning (HVAC) Market Report - Forecast to 2027

Heating Ventilation and Air Conditioning Market/ HVAC Market Information, by Systems (Heating, Ventilation, Humidity, Integrated Controls), by Components (Sensors, Control & Control Devices), by Revenue Source (HVAC Controls, Building Energy Management Systems (BEMS), by region (Europe, Americas, Asia Pacific & MEA) - Forecast to 2027

ID: MRFR/IA - E/0317-CR | October 2020 | Region: Global | 150 pages

Heating Ventilation Air Conditioning Market Overview


Heating ventilation and air conditioning (HVAC) market projected to witness 6.05% CAGR over the forecast period.


Proper innovation and investment into the product have led to the development of advanced ventilation as well as air conditioning solutions. The Global market for heating ventilation and air conditioning HVAC is now expected to further increase at a steady rate. Heating Ventilation and Air Conditioning Market are estimated to grow at a compound annual growth rate over the next 9 years. The arrival of leading-edge heating ventilation and air conditioning technology in the market has reflected in the favour of the growth. The manufacturers of the HVAC market are focused on product customization and development. Also, that domain of focus comes to application-specific products which are identified as the key industry heating ventilation and air conditioning trends. 


Covid 19 Analysis


As per the current situation of the Global pandemic where every country is suffering from the coronavirus. The major reason for its continued outbreak over the world is the lack of medication and vaccinations. Due to no vaccination and medication available for this virus, it is important to stay home and protect yourself from getting infected. To stay safe, lockdown as a process had to be established in the world as per the situation. All the other domains of HVAC were shut down except the hospitality. Due to the number of corona patients growing day by day new hospitals had to be constructed where ventilators, ICU, and indoor hospital temperature were major factors. Although the markets were shut, no production, no consumption, and no manufacturing. This led to a major breakdown of the growth level of the market. But it is expected that soon in the year 2022 things will go back to normal. 


Competitive Landscape


The most prominent major key players in the Heating Ventilation and Air Conditioning market are as follows: 



  • Zamil Air Conditioners

  • Daikin

  • Lennox International

  • Ingersoll Rand

  • Samsung Electronics

  • Siemens Building Technologies

  • Johnson Controls

  • Gree Electric Appliances Inc

  • Honeywell International

  • and Fujitsu General


These most prominent major key players in the Heating Ventilation and Air Conditioning market use various strategies to cater to the increasing need of the customer. They use various policies and strategies like collaborations, innovation in the existing products, acquisitions, developing the new production process, mergers, expansion of business, establishing a joint venture, to increase their customer base in the global potential market.


Recent Developments



  • HVAC market value has made various progress in the domain of hospitality in the year 2020 and continues in the year 2021.

  • The HVAC market shows development and growth in the commercial sector as everyone prefers to buy an indoor temperature control system.

  • Other progress is made in the region of the Middle East and Africa where infrastructure work by manufacturers is deeply being looked into.

  • People are now understanding the use of indoor temperature control and how outdoor temperature can severely affect the human body due to the metabolic functions which require an optimum temperature to work.

  • The importance of HVAC innovation due to growing urbanization and increasing population has taken place.


Market Dynamics


Drivers


The Heating Ventilation and Air Conditioning (HVAC) Market is growing tremendously, various factors drive the market growth.


The factors include senior levels of atmospheric fluctuations in temperature and global warming are the major factors that demand various indoor temperature control systems including heating ventilation and air conditioning systems. This leads to a simple convincing strategy for the general public. Countries that experience frequent climatic fluctuations are more prone to buy such devices. The major key industry trend for load is focused on product customization and development which makes applications specific to the product. This is a much more powerful weapon for growing HVAC revenue. 


Opportunities


The Heating Ventilation and Air Conditioning (HVAC) Market is growing tremendously hence some various factors and opportunities are open for the further increase in HVAC market size. These opportunities include the arrival of leading-edge heating ventilation and air conditioning technology. In addition to this growing urbanization and growth of the human population are playing an important role and opportunity in boosting the popularity of indoor temperature control systems. HVAC market Outlook seems likely to support the growth of the global market for heating ventilation and air conditioning shortly.


Value Chain Analysis


The Heating Ventilation and Air Conditioning Market is growing tremendously and rapidly due to its benefits in controlling the indoor temperature. People due to the growing population as well as organizations required much more facilities than before.


Also as technology is growing and people are getting better at lifestyle and income it is very casual for people to find comfort. Also due to global warming and temperature fluctuations every year, indoor temperature control is a necessity. Hence in all this HVAC adds its value and benefits the people.


The Objective Of The HVAC Market



  • The first objective of the HVAC market is to provide a comprehensive infrastructure breakdown to the market structure for heating ventilation and air conditioning. Future growth aspects are studied along with the various market segments and sub-segments.

  • Delivering information on both the aspects of macro and microeconomics factors. These factors are studied for the insight look of HVAC market growth.

  • HVAC market analysis is performed on all the products that are supplied and chained. Product pricing is also done using various triangulation methods.

  • The HVAC industry pertains to the analysis of data of the market performance in the recent past and recent future. Present data and revenue projections are studied during the forecasted period for the market segments and subsegments. This study is made for the four main regions which are North America, Europe, the Asia Pacific, and the rest of the world

  • The cross-sectional country-level examination is delivered to the market about all the current market size and future potential of the HVAC Market.

  • The leading companies that are currently e operating in the market their data are delivered comprehensively and analyzed. Also identification of their core competencies and determination of the current competitive scenarios in the market.

  • Delivering information on the latest company developments. Such strategic alliances, new product development are and joint ventures mergers and acquisitions are the main strategies and techniques.


Market Segmentation


The Heating Ventilation and Air Conditioning market has been divided based on type and application.


Based On Type


The HVAC market has been divided based on type into central air conditioning, window or through the wall air conditioner, split residential air conditioners, and packaged air conditioners.


Based On Application


The HVAC market has been divided based on application into institutional, residential, commercial hospitality, and others.


Regional Analysis


The Heating Ventilation and Air Conditioning market has been divided based on region into North America, Europe, and the Asia Pacific. The Middle East and Africa are soon expected to remain as a highly lucrative market for HVAC units during the forecasted period. The government has continuously given its input into the efforts to grow the infrastructure standards in Middle East and African countries. Various opportunities in significant strategies are being developed. The region's market is estimated to exhibit an above-average CAGR. On the other hand, Europe and North America are the two regions that will always remain an important place for HVAC manufacturers over the next couple of years. Europe and North America continue to hold the largest HVAC market share.


Change in climate fluctuations and increased temperature levels in these regions due to global warming have resulted in the increased installation of HP AC units in their countries.


Report Overview


The global HVAC Market research report consists of the following elements:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Value Chain Analysis

  • The objective of the HVAC market

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


This global HVAC market research report consists of the factors that drive the HVAC market along with the factors that restrict the HVAC market. This report also contains various growth opportunities in the HVAC market during the forecasted period. The impact of COVID 19 on the HVAC market is also estimated. The future growth rate of the HVAC market is mentioned.



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   2027: Substantial CAGR
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Systems , Components and Revenue Source
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Zamil Air Conditioners, Daikin, Lennox International, Ingersoll Rand, Samsung Electronics, Siemens Building Technologies, Johnson Controls, Gree Electric Appliances Inc, Honeywell International, and Fujitsu General
  Key Market Opportunities   Government efforts to bring up the infrastructure standards in the MEA countries
  Key Market Drivers   Severe levels of atmospheric change and global warming


Frequently Asked Questions (FAQ) :


The market segmentation of the HVAC market done under this research report is types and applications.

The major key players in the HVAC Market are as follow- Zamil Air Conditioners, Daikin, Lennox International, Ingersoll Rand, Samsung Electronics, Siemens Building Technologies, Johnson Controls, Gree Electric Appliances Inc, Honeywell International, and Fujitsu General

The major reasons for the growing HVAC market are urbanization, global warming, better lifestyle, increase in income, pollution, sensitivity, and increase in population.

The four main regions of HVAC market growth are North America, Europe, Asia Pacific, and the rest of the world.