HVAC Equipment

HVAC Equipment Market by Type (Air Conditioning, Heating, Ventilation), Equipment Type (Applied Equipment, Chillers, Ductless Systems), End-User - Global Forecast 2024-2030

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[186 Pages Report] The HVAC Equipment Market size was estimated at USD 182.86 billion in 2023 and expected to reach USD 192.04 billion in 2024, at a CAGR 5.10% to reach USD 259.07 billion by 2030.

HVAC Equipment Market
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The heating, ventilation, and air conditioning (HVAC) equipment regulates indoor temperature and air quality. These systems find application in residential, commercial, and industrial settings to facilitate thermal comfort and maintain a healthy indoor environment. Increased construction activities worldwide and stringent energy efficiency regulations imposed by governments to reduce carbon emissions result in increased demand for HVAC equipment across end-use sectors. However, high initial costs associated with installing advanced HVAC equipment may impede its adoption by the end-use industries. Moreover, the technological advancements in HVAC equipment are anticipated to increase their deployment across the residential and commercial sectors worldwide.

HVAC Equipment Market - Global Forecast 2024-2030
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Type: Penetration of air conditioning systems in tropical regions

Air conditioning systems provide cooling, dehumidification, and temperature control for indoor spaces. They are crucial for maintaining comfortable and healthy residential, commercial, and industrial environments. Heating systems provide warmth for indoor spaces during cold seasons. The primary types of heating equipment are furnaces, heat pumps, boilers, radiant floor heating systems, fireplaces, and space heaters. Ventilation systems are essential for maintaining indoor air quality by supplying fresh air, removing pollutants, and controlling humidity levels. Air conditioning equipment demand is primarily driven by the rise in global temperatures owing to climate change and rising urbanization. Heating equipment demand is influenced by geographical location and seasonal variations. Ventilation systems are crucial across all climate zones due to their importance in maintaining good indoor air quality.

End-User: Rapid deployment of HVAC equipment in the commercial sector

HVAC equipment is essential to maintain a comfortable environment for employees, customers, and visitors in the commercial sector. Industrial applications require robust HVAC systems that maintain stringent environmental conditions for manufacturing processes or protect sensitive equipment from dust or humidity-related damage. Residential customers prioritize easy-to-use HVAC systems that offer reliable climate control while minimizing energy consumption. Factors such as compact size, remote or smart home compatibility, and competitive pricing are also essential considerations while deploying HVAC equipment in the residential sector.

Regional Insights

The HVAC equipment market is evolving in the Americas owing to rapid urbanization, technological advancements, increased adoption of energy-efficient products, and rising inclination toward smart homes. In Europe, EU countries are witnessing considerable adoption of HVAC equipment owing to stringent energy regulations and growing awareness of environmental concerns. Increasing urbanization and rising temperatures necessitate advanced HVAC equipment in the Middle East and Africa region. The HVAC equipment market in the Asia-Pacific region is expected to witness robust growth owing to increasing purchasing power and technological collaborations between local manufacturers and global players to deliver improved product offerings catering to diverse customer needs. Additionally, integrating cutting-edge technologies in HVAC equipment is anticipated to boost their use by the end-use sectors globally.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the HVAC Equipment Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the HVAC Equipment Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • Johnson Controls-Hitachi Launch Residential HVAC Dual Fuel Heat Pump System

    Johnson Controls-Hitachi Air Conditioning introduced the Hitachi air365 Hybrid dual fuel system for HVAC equipment. This system offers a cost-effective, energy-efficient solution for year-round home comfort while reducing carbon emissions. The air365 Hybrid system comprises a Mini VRF electric heat pump and a dual fuel module that can be integrated easily with any existing gas furnace. This innovative combination ensures optimal home comfort without compromising on sustainability. [Published On: 2023-09-25]

  • Parts Town Continues Expansion with Launch of HVAC Parts Category

    Parts Town, a distributor of OEM foodservice parts, residential appliance parts, and related products, introduced a new category for HVAC parts. This innovative addition to their extensive range of parts and accessories includes offerings from renowned manufacturers such as Carrier, Fast OEM Parts, Trane, Lennox, York, and Heatcraft. This expansion allows customers to access the fastest-growing OEM HVAC parts inventory, ensuring swift equipment repairs and optimal performance. [Published On: 2023-04-13]

  • Ahlstrom Launches a new High-Performance Filter Media Range for HVAC with a Longer Filter Lifetime and Lower Environmental Impact

    Ahlstrom has developed an HVAC filter media portfolio at its new production facility in Turin, Italy. This portfolio offers high-quality filters with exceptional performance and reliability for various applications. Ahlstrom's products effectively protect people and equipment in enclosed spaces with a complete range of filtration materials. The product range includes options from ISO Coarse 85% to ISO ePM1 80%, available in standard and high permeability versions to cater to diverse requirements. [Published On: 2023-02-07]

Key Company Profiles

The report delves into recent significant developments in the HVAC Equipment Market, highlighting leading vendors and their innovative profiles. These include A. O. Smith Corporation, Carrier Corporation, Daikin Industries, Ltd., Danfoss A/S, Emerson Electric Co., Fujitsu Limited, Gree Electric Appliances Inc., Haier Group Corporation, Hitachi Air Conditioning Company, Honeywell International, Inc., Johnson Controls International PLC, Lennox International, Inc., LG Electronics, Midea Group, Mitsubishi Electric, Nortek Global HVAC LLC, Panasonic Holdings Corporation, Raytheon Technologies Corporation, Rheem Manufacturing Company by Paloma Co., Ltd., Samsung Electronics Co., Ltd., Trane Technologies Company, LLC, Vaillant Group, Whirlpool Corporation, and Wolf GmbH.

Market Segmentation & Coverage

This research report categorizes the HVAC Equipment Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Type
    • Air Conditioning
    • Heating
    • Ventilation
  • Equipment Type
    • Applied Equipment
      • Central AHU
      • Custom Built AHU
    • Chillers
      • Absorption Chillers
      • Air-Cooled Chillers
      • Water-Cooled Chillers
    • Ductless Systems
    • Heat Pumps
      • Air-Source
      • Ground-Source
      • Water-Source
    • Unitary Equipment
      • AHU
      • Rooftop Units
  • End-User
    • Commercial
    • Industrial
    • Residential

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

The report offers valuable insights on the following aspects:

  1. Market Penetration: It presents comprehensive information on the market provided by key players.
  2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
  3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
  4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
  5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

  1. What is the market size and forecast of the HVAC Equipment Market?
  2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the HVAC Equipment Market?
  3. What are the technology trends and regulatory frameworks in the HVAC Equipment Market?
  4. What is the market share of the leading vendors in the HVAC Equipment Market?
  5. Which modes and strategic moves are suitable for entering the HVAC Equipment Market?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. HVAC Equipment Market, by Type
  7. HVAC Equipment Market, by Equipment Type
  8. HVAC Equipment Market, by End-User
  9. Americas HVAC Equipment Market
  10. Asia-Pacific HVAC Equipment Market
  11. Europe, Middle East & Africa HVAC Equipment Market
  12. Competitive Landscape
  13. Competitive Portfolio
  14. List of Figures [Total: 22]
  15. List of Tables [Total: 646]
  16. List of Companies Mentioned [Total: 24]
Frequently Asked Questions
  1. How big is the HVAC Equipment Market?
    Ans. The Global HVAC Equipment Market size was estimated at USD 182.86 billion in 2023 and expected to reach USD 192.04 billion in 2024.
  2. What is the HVAC Equipment Market growth?
    Ans. The Global HVAC Equipment Market to grow USD 259.07 billion by 2030, at a CAGR of 5.10%
  3. When do I get the report?
    Ans. Most reports are fulfilled immediately. In some cases, it could take up to 2 business days.
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