The heating, ventilation, and air conditioning (hvac ) equipment global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Heating, Ventilation, And Air Conditioning (HVAC ) Equipment Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The heating, ventilation, and air conditioning (HVAC) equipment market size has grown strongly in recent years. It will grow from $154.95 billion in 2023 to $166.43 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to an increase in infrastructure development, increased cooling unit demand, an increase in urban population, increased energy efficiency in HVAC systems, and increased construction of residential buildings.
The heating, ventilation, and air conditioning (HVAC) equipment market size is expected to see strong growth in the next few years. It will grow to $222.8 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to increasing global warming, rising disposable income, rising awareness of environmental sustainability, and the growing need for energy-efficient solutions. Major trends in the forecast period include technological advancements, the integration of smart technologies and IoT, green HVAC solutions, the integration of AI and machine learning, and incentives for renewable energy adoption.
Order your report now for swift delivery @
https://www.thebusinessresearchcompany.com/report/heating-ventilation-and-air-conditioning-hvac-equipment-global-market-report
Scope Of Heating, Ventilation, And Air Conditioning (HVAC ) Equipment Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Heating, Ventilation, And Air Conditioning (HVAC ) Equipment Market Overview
Market Drivers –
The increased construction of residential buildings is expected to propel the growth of the heating, ventilation, and air conditioning (HVAC) equipment market going forward. Residential buildings refer to structures designed for people to live in, including single-family homes, apartment complexes, townhouses, and condominiums. The construction of residential buildings is increasing due to rapid urbanization, as more people move to cities for better job opportunities and low interest rates, which make it easier for individuals to finance new homes. HVAC equipment is crucial for residential buildings as it ensures indoor comfort, improves air quality, enhances energy efficiency, and helps preserve the building’s structural integrity. For instance, in August 2024, according to the US Census Bureau, a US-based government agency, in July, privately-owned housing completions rose to a seasonally adjusted annual rate of 1,529,000, up 13.8% from the previous year, while single-family housing completions increased by 0.5% to a rate of 1,054,000 from June. Therefore, increased construction of residential buildings drives the heating, ventilation, and air conditioning (HVAC) equipment market.
Market Trends –
Major companies operating in the heating, ventilation, and air conditioning (HVAC) equipment market focus on developing advanced HVAC products with comprehensive solutions to enhance energy efficiency, advanced air purification, and user control. Comprehensive new HVAC solutions include advanced systems integrating smart technology, energy efficiency, and sustainability features to provide optimal comfort and performance in heating, ventilation, and air conditioning. For instance, in April 2024, Voltas Limited, an India-based home appliance company, launched its new HVAC line-up at the ACREX India 2024 exhibition. The new line-up includes advanced room air conditioners featuring energy-saving technologies, smart functionalities, and variable refrigerant flow (VRF) systems designed for larger commercial spaces, offering enhanced flexibility in temperature control. Additionally, it introduced high-capacity chillers aimed at industrial applications and light commercial air conditioners tailored for smaller business environments. A standout product is the Voltas SmartAir AC, a series of smart inverter air conditioners equipped with IoT capabilities that enable users to monitor and control their units remotely for improved convenience and energy management.
The heating, ventilation, and air conditioning (HVAC ) equipment market covered in this report is segmented –
1) By Type: Heating, Air Conditioning, Ventilation, Other Types
2) Service Type: Installation Services, Maintenance And Repair Services, Upgradation Or Replacement Services, Consulting Services
3) By System Type: Central, Decentralized
4) By Business Type: New Construction, Retrofits
5) By End-User: Residential, Commercial, Industrial
Get an inside scoop of the heating, ventilation, and air conditioning (hvac ) equipment market, Request now for Sample Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=19502&type=smp
Regional Insights –
Asia-Pacific was the largest region in the heating, ventilation, and air conditioning (HVAC) equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the heating, ventilation, and air conditioning (HVAC) equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the heating, ventilation, and air conditioning (HVAC) equipment market are Samsung Electronics Co. Ltd., Robert Bosch GmbH, Hitachi Ltd., LG Electronics Inc., Panasonic Corporation, Mitsubishi Electric Corporation, Honeywell International Inc., Fujitsu Limited, Daikin Industries Ltd., Toshiba Corporation, Johnson Controls International plc, Eaton Corporation plc, Carrier Global Corporation, Trane Technologies plc, Lennox International Inc., Grundfos Holding A/S, Goodman Manufacturing Company L.P., AS America Inc., Rinnai Corporation, Modine Manufacturing Company, Rheem Manufacturing Company, Eureka Forbes Limited, Baltimore Aircoil Company Inc., ClimateMaster Inc., York International Corporation, GREE Electric Appliances Inc., Dimplex North America Limited, Navien Inc., Soler & Palau Ventilation Group S.A
Table of Contents
1. Executive Summary
2. Heating, Ventilation, And Air Conditioning (HVAC ) Equipment Market Report Structure
3. Heating, Ventilation, And Air Conditioning (HVAC ) Equipment Market Trends And Strategies
4. Heating, Ventilation, And Air Conditioning (HVAC ) Equipment Market – Macro Economic Scenario
5. Global Heating, Ventilation, And Air Conditioning (HVAC) Equipment Market Size and Growth
.
.
.
32. Global Heating, Ventilation, And Air Conditioning (HVAC) Equipment Market Competitive Benchmarking
33. Global Heating, Ventilation, And Air Conditioning (HVAC) Equipment Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Heating, Ventilation, And Air Conditioning (HVAC) Equipment Market
35. Heating, Ventilation, And Air Conditioning (HVAC) Equipment Market Future Outlook and Potential Analysis
36. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
