The Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Global Market Report 2023 by The Business Research Company, provides ventilation, heating, air-conditioning, and commercial refrigeration equipment market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Global Market Report 2023, the global ventilation, heating, air-conditioning, and commercial refrigeration equipment market size grew from $557.38 billion in 2022 to $591.99 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. 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 market size of global ventilation, heating, air-conditioning, and commercial refrigeration equipment market is expected to grow to $729.35 billion in 2027 at a CAGR of 5.4%.
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. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. 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 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
Geothermal heating and cooling technology are becoming popular because of the surge in demand for energy-efficient HVAC systems. Geothermal HVAC absorbs heat from the facility and transfers it underground and it uses cool water from the ground to create cool air conditioning in the facility. It consists of an indoor handling unit and a system of pipes underground which requires very low maintenance and lasts longer than traditional HVAC systems. Geothermal heating and cooling systems are now installed in about 50,000 US houses each year, according to the US Department of Energy.
The ventilation, heating, air-conditioning, and commercial refrigeration equipment market report table of contents includes:
- Executive Summary
- Report Structure
- Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Characteristics
- Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Product Analysis
- Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market Supply Chain
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- Key Mergers And Acquisitions In The Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market
- Market Background: Machinery Manufacturing Market
- Recommendations
- Appendix
- Copyright And Disclaimer
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