The Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Global Market Report 2024, The ventilation, heating, air-conditioning, and commercial refrigeration equipment market size has grown strongly in recent years. It will grow from $551.18 billion in 2023 to $587.36 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to energy efficiency regulations, urbanization, replacement cycles, global climate change.
The ventilation, heating, air-conditioning, and commercial refrigeration equipment market size is expected to see strong growth in the next few years. It will grow to $741.84 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to renewable energy integration, indoor air quality concerns, smart building integration, rising global temperatures, sustainable refrigerants. Major trends in the forecast period include green building certification, remote monitoring and control, heat pumps for heating and cooling, electrification, customization and personalization.
The ventilation, heating, air-conditioning, and commercial refrigeration equipment manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries. For instance, according to the International Monetary Fund (IMF), a US-based financial agency, China’s gross domestic product (GDP) grew from $17.75 trillion in 2021 to $18.1 trillion in 2022. In addition, the emerging markets and developing economies registered a growth of 3.9% in 2020, which increased to 6.1% in 2022. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period.
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The ventilation, heating, air-conditioning, and commercial refrigeration equipment market covered in this report is segmented –
1) By Type: HVAC And Commercial And Industrial Refrigeration Equipment; Commercial Fan And Air Purification Equipment; Heating Equipment (except Warm Air Furnaces)
2) By Capacity: Small; Medium; Large
3) By End-Use: Residential; Commercial; Industrial
Subsegments Covered: HVAC Equipment; Commercial And Industrial Refrigeration Equipment; Polystyrene Foam Products; Urethane And Other Foam Product; Air Purification Equipment; Attic And Exhaust fans; Other Commercial Fan And Air Purification Equipment; Heating Boilers; Heating Stoves; Floor And Wall Furnaces; Other Heating Equipment (except Warm Air Furnaces)
The ventilation, heating, air-conditioning, and commercial refrigeration equipment market report table of contents includes:
- Executive Summary
- Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Characteristics
- Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Trends And Strategies
- Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market – Macro Economic Scenario
- Global Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Size and Growth
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- Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Other Major And Innovative Companies
- Global Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Competitive Benchmarking
- Global Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Competitive Dashboard
- Key Mergers And Acquisitions In The Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market
- Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Future Outlook and Potential Analysis
- Appendix
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