Market Research Report
Global Heating Ventilation and Air Conditioning Market: Focus on Products (Window and Portable, Mini-splits, Single Packaged, Chillers, VRFs, AHUs and FCUs) and 37 Countries - Analysis and Forecast 2018-2024
|Published by||BIS Research Inc.||Product code||342321|
|Published||Content info||316 Pages
Delivery time: 1-2 business days
|Global Heating Ventilation and Air Conditioning Market: Focus on Products (Window and Portable, Mini-splits, Single Packaged, Chillers, VRFs, AHUs and FCUs) and 37 Countries - Analysis and Forecast 2018-2024|
|Published: June 4, 2018||Content info: 316 Pages||
The global HVAC market is expected to grow at a CAGR of 4.5% and 2.6% in terms of volume and value during the forecast period. The primary driving factor for this increase in growth is the continued growth in the revenue from the construction sector including government as well private funded projects worldwide.
Evolving from rapid growth, the global HVAC market witnessed stagnation, and has subsequently gained momentum again. The dynamic nature of the industry can largely be attributed to factors, such as increasing urbanization, unprecedented population growth, and frequently modifying governmental regulations for making the HVAC products more energy efficient. Furthermore, increasing urban population worldwide which has led to an increase in the demand for HVAC products has acted as a major driver for the HVAC market. The regions having the fastest rate of increasing urban population have been the major target for HVAC system providers.
The global HVAC market is expected to grow at a decent rate during the forecast period. This is due to rapid growth in the construction sector. The VRF technology is expected to grow at the highest rate of 9.0% CAGR in terms of volume during the forecast period. The growth of VRF technology is majorly driven by the increased demand from the commercial and industrial sectors as VRF is more energy efficient. The global HVAC market is estimated to witness growth at a CAGR of 4.5% and 2.6% over the period 2018-2024 in terms of volume and value, respectively. The rising temperature due to global warming have led to an increased demand for HVAC products and its market is expected to grow at a decent rate in the coming years. Furthermore, the boom in the construction sector in regions such as the Middle East and Americas are driving the growth for this market. Also, the presence of industry leaders such as Carrier Corporation, Johnson Controls, and Daikin Industries, among others, has significantly contributed to the growth of the HVAC market.
The most often used strategy for securing stronger presence in the market has been the product launch, followed by partnerships, joint ventures, and collaborations. Moreover, the Company Profiles section of the study includes highlights of significant information about the key companies involved along with their financial positions, key strategies, and developmental activities of recent years. Some of the key players involved in this market are Daikin Industries Ltd., Trane, Johnson Controls, Carrier, Samsung Electronics Co., Ltd., LG Electronics, Fujitsu Limited, and Zamil Industrial.