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Market Research Report

HVAC Systems Market Size, Share & Trends Analysis Report By Product (Ventilation, Heating, Cooling), By End-use (Residential, Commercial, Industrial), By Region (APAC, North America), And Segment Forecasts, 2021 - 2028

Published by Grand View Research, Inc. Product code 1003388
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HVAC Systems Market Size, Share & Trends Analysis Report By Product (Ventilation, Heating, Cooling), By End-use (Residential, Commercial, Industrial), By Region (APAC, North America), And Segment Forecasts, 2021 - 2028
Published: April 22, 2021 Content info: 134 Pages
Description

HVAC Systems Market Growth & Trends

The global HVAC systems market size is anticipated to reach USD 197.50 billion by 2028, registering a CAGR of 5.9% over the forecast period, according to a new study by Grand View Research Inc. The rising adoption of energy-efficient and renewable energy products is anticipated to be a significant driving factor for the market. Furthermore, climate changes have rendered heating and cooling equipment a necessity rather than a luxury. Thus, the deteriorating climate condition is likely to positively influence the market over the forecast period. Proactive government initiatives will emerge as market growth drivers over the forecast period.

For instance, under the Taxpayer Relief Act of 2012 (U.S.)-2017, customers can apply for the Federal Energy Tax Credit. Similarly, Australia's Department of the Environment and Energy has introduced the "discounted energy-efficient air conditioners for households program" that provides a discount ranging between USD 200 to USD 1,000 to New South Wales residents buying high-efficiency air conditioners for household purposes. Several governments worldwide introduce such initiatives to promote product adoption.

In addition, the market is expected to experience healthy growth owing to refurbishment and replacement demand. Several customers are replacing old equipment with new energy-efficient units for energy savings, improved performance, and cost reduction. The factors responsible for the replacement of the HVAC (Heating, ventilation, and air conditioning) unit are the system's age, building remodeling, poor air quality, and high cost of repair.

The spread of the novel coronavirus in 2020 resulted in the shutting down of production plants across the globe in the first quarter. As a result, several major players recorded substantial revenue drop in the initial part of 2020. However, pent-up demand and increasing awareness about hygienic surroundings have resulted in higher product sales in recent times and are expected to continue in the subsequent years. Overall, the Covid-19 pandemic has had a minor impact on the market and the industry is expected to record steady growth in the years to come.

HVAC Systems Market Report Highlights

The cooling systems segment dominated the market in 2020 and is expected to retain the leading position in the future due to a rise in demand for air conditioning systems across several sectors

With a steady increase in the global real estate sector, the residential segment captured significant revenue share in 2020

The segment is expected to grow at a steady CAGR from 2021 to 2028 due to the rising demand from modern households in developing economies

Middle East & Africa is anticipated to grow at a healthy CAGR over the forecast period owing to the increasing construction activities, growing tourism sector, and rising temperatures in the region

Since the outbreak of coronavirus, key market players are focused on introducing products that can improve the air quality

In February 2020, Havells India Ltd. launched Grande Heavy-Duty Air Conditioner under its brand Llyod. The AC features Catechine coated dust filter and Green Bio air filter along with anti-bacterial Eva Coils, which enhances the air quality

Table of Contents
Product Code: GVR-2-68038-641-7

Table of Contents

Chapter 1. Methodology and Scope

  • 1.1. Methodology Segmentation & Scope
  • 1.2. Information procurement
    • 1.2.1. Purchased database
    • 1.2.2. GVR's internal database
    • 1.2.3. Secondary sources & third-party perspectives
    • 1.2.4. Primary research
  • 1.3. Information analysis
    • 1.3.1. Data analysis models
  • 1.4. Market formulation & data visualization
  • 1.5. Data validation & publishing

Chapter 2. Executive Summary

  • 2.1. HVAC Systems Market - Industry Snapshot & Key Buying Criteria, 2017 - 2028

Chapter 3. HVAC Systems Market Variables, Trends & Scope

  • 3.1. Market Size and Growth Prospects, 2017 - 2028
  • 3.2. Industry Value Chain Analysis
  • 3.3. Market Dynamics
    • 3.3.1. Market Driver Analysis
    • 3.3.2. Market Restraint/Challenge Analysis
    • 3.3.3. Market Opportunity Analysis
  • 3.4. Penetration & Growth Prospect Mapping (Key Opportunities Prioritized)
  • 3.5. Business Environment Analysis Tools
    • 3.5.1. Industry Analysis - Porter's Five Forces Analysis
    • 3.5.2. PEST Analysis

Chapter 4. HVAC Systems Market: Product Outlook

  • 4.1. HVAC Systems Market Share by Product, 2020 & 2028 (USD Billion)
  • 4.2. Heating
    • 4.2.1. Market Size Estimates and Forecasts, 2017 - 2028 (USD Billion)
    • 4.2.2. Market estimates and forecast by region, 2017 - 2028 (USD Billion)
  • 4.3. Ventilation
    • 4.3.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
    • 4.3.2. Market estimates and forecast by region, 2017 - 2028 (USD Billion)
  • 4.4. Cooling
    • 4.4.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
    • 4.4.2. Market estimates and forecast by region, 2017 - 2028 (USD Billion)

Chapter 5. HVAC Systems Market: End-use Outlook

  • 5.1. HVAC Systems Market Share by Product, 2020 & 2028 (USD Billion)
  • 5.2. Residential
    • 5.2.1. Market Size Estimates and Forecasts, 2017 - 2028 (USD Billion)
    • 5.2.2. Market estimates and forecast by region, 2017 - 2028 (USD Billion)
  • 5.3. Commercial
    • 5.3.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
    • 5.3.2. Market estimates and forecast by region, 2017 - 2028 (USD Billion)
  • 5.4. Industrial
    • 5.4.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
    • 5.4.2. Market estimates and forecast by region, 2017 - 2028 (USD Billion)

Chapter 6. HVAC Systems Market: Regional Outlook

  • 6.1. HVAC Systems Market Share by Region, 2020 & 2028 (USD Billion)
  • 6.2. North America
    • 6.2.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
    • 6.2.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
    • 6.2.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
    • 6.2.4. The U.S.
      • 6.2.4.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
      • 6.2.4.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
      • 6.2.4.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
    • 6.2.5. Canada
      • 6.2.5.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
      • 6.2.5.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
      • 6.2.5.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
    • 6.2.6. Mexico
      • 6.2.6.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
      • 6.2.6.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
      • 6.2.6.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
  • 6.3. Europe
    • 6.3.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
    • 6.3.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
    • 6.3.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
    • 6.3.4. The U.K.
      • 6.3.4.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
      • 6.3.4.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
      • 6.3.4.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
    • 6.3.5. Germany
      • 6.3.5.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
      • 6.3.5.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
      • 6.3.5.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
    • 6.3.6. France
      • 6.3.6.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
      • 6.3.6.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
      • 6.3.6.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
    • 6.3.7. Spain
      • 6.3.7.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
      • 6.3.7.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
      • 6.3.7.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
    • 6.3.8. Italy
      • 6.3.8.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
      • 6.3.8.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
      • 6.3.8.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
    • 6.3.9. Latvia
      • 6.3.9.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
      • 6.3.9.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
      • 6.3.9.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
  • 6.4. Asia Pacific
    • 6.4.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
    • 6.4.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
    • 6.4.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
    • 6.4.4. China
      • 6.4.4.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
      • 6.4.4.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
      • 6.4.4.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
    • 6.4.5. India
      • 6.4.5.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
      • 6.4.5.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
      • 6.4.5.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
    • 6.4.6. Japan
      • 6.4.6.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
      • 6.4.6.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
      • 6.4.6.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
    • 6.4.7. South Korea
      • 6.4.7.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
      • 6.4.7.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
      • 6.4.7.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
    • 6.4.8. Australia
      • 6.4.8.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
      • 6.4.8.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
      • 6.4.8.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
  • 6.5. South America
    • 6.5.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
    • 6.5.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
    • 6.5.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
    • 6.5.4. Brazil
      • 6.5.4.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
      • 6.5.4.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
      • 6.5.4.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
    • 6.5.5. Argentina
      • 6.5.5.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
      • 6.5.5.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
      • 6.5.5.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
    • 6.5.6. Chile
      • 6.5.6.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
      • 6.5.6.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
      • 6.5.6.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)
  • 6.6. Middle East & Africa
    • 6.6.1. Market estimates and forecast, 2017 - 2028 (USD Billion)
    • 6.6.2. Market estimates and forecast by product, 2017 - 2028 (USD Billion)
    • 6.6.3. Market estimates and forecast by end use, 2017 - 2028 (USD Billion)

Chapter 7. Competitive Landscape

  • 7.1. Carrier Corporation
    • 7.1.1. Company overview
    • 7.1.2. Financial performance
    • 7.1.3. Product benchmarking
    • 7.1.4. Recent developments
  • 7.2. Daikin Industries, Ltd.
    • 7.2.1. Company overview
    • 7.2.2. Financial performance
    • 7.2.3. Product benchmarking
    • 7.2.4. Recent developments
  • 7.3. Emerson Electric Co.
    • 7.3.1. Company overview
    • 7.3.2. Financial performance
    • 7.3.3. Product benchmarking
    • 7.3.4. Recent developments
  • 7.4. Haier Group
    • 7.4.1. Company overview
    • 7.4.2. Financial performance
    • 7.4.3. Product benchmarking
    • 7.4.4. Recent developments
  • 7.5. Havells India Ltd.
    • 7.5.1. Company overview
    • 7.5.2. Financial performance
    • 7.5.3. Product benchmarking
    • 7.5.4. Recent developments
  • 7.6. Hitachi Ltd.
    • 7.6.1. Company overview
    • 7.6.2. Financial performance
    • 7.6.3. Product benchmarking
    • 7.6.4. Recent developments
  • 7.7. Johnson Controls International plc
    • 7.7.1. Company overview
    • 7.7.2. Financial performance
    • 7.7.3. Product benchmarking
    • 7.7.4. Recent developmentsDaiichi J
  • 7.8. L.G. Electronics
    • 7.8.1. Company overview
    • 7.8.2. Financial performance
    • 7.8.3. Product benchmarking
    • 7.8.4. Recent developments
  • 7.9. Lennox International, Inc.
    • 7.9.1. Company overview
    • 7.9.2. Financial performance
    • 7.9.3. Product benchmarking
    • 7.9.4. Recent developments
  • 7.10. Mitsubishi Electric U.S. Inc.
    • 7.10.1. Company overview
    • 7.10.2. Financial performance
    • 7.10.3. Product benchmarking
    • 7.10.4. Recent developments
  • 7.11. Rheem Manufacturing Company
    • 7.11.1. Company overview
    • 7.11.2. Financial performance
    • 7.11.3. Product benchmarking
    • 7.11.4. Recent developments
  • 7.12. Samsung Electronics Co. Ltd.
    • 7.12.1. Company overview
    • 7.12.2. Financial performance
    • 7.12.3. Product benchmarking
    • 7.12.4. Recent developments
  • 7.13. Trane Technologies
    • 7.13.1. Company overview
    • 7.13.2. Financial performance
    • 7.13.3. Product benchmarking
    • 7.13.4. Recent developments

List of Tables

  • Table 1 List of Abbreviations
  • Table 2 HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 3 HVAC systems market, by region, 2017 - 2028 (USD Billion)
  • Table 4 HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 5 HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 6 Heating HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 7 Heating HVAC systems market, by region, 2017 - 2028 (USD Billion)
  • Table 8 Ventilation HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 9 Ventilation HVAC systems market, by region, 2017 - 2028 (USD Billion)
  • Table 10 Cooling HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 11 Cooling HVAC systems market, by region, 2017 - 2028 (USD Billion)
  • Table 12 Residential HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 13 Residential HVAC systems market, by region, 2017 - 2028 (USD Billion)
  • Table 14 Commercial HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 15 Commercial HVAC systems market, by region, 2017 - 2028 (USD Billion)
  • Table 16 Industrial HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 17 Industrial HVAC systems market, by region, 2017 - 2028 (USD Billion)
  • Table 18 North America HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 19 North America HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 20 North America HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 21 The U.S. HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 22 The U.S. HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 23 The U.S. HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 24 Canada HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 25 Canada HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 26 Canada HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 27 Mexico HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 28 Mexico HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 29 Mexico HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 30 Europe HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 31 Europe HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 32 Europe HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 33 The U.K. HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 34 The U.K. HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 35 The U.K. HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 36 Germany HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 37 Germany HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 38 Germany HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 39 Italy HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 40 Italy HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 41 Italy HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 42 Spain HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 43 France HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 44 France HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 45 Spain HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 46 France HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 47 France HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 48 Spain HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 49 France HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 50 France HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 51 France HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 52 France HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 53 France HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 54 Asia Pacific HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 55 Asia Pacific HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 56 Asia Pacific HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 57 India HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 58 India HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 59 India HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 60 China HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 61 China HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 62 China HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 63 Japan HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 64 Japan HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 65 Japan HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 66 South Korea HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 67 South Korea HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 68 South Korea HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 69 Australia HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 70 Australia HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 71 Australia HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 72 South America HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 73 South America HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 74 South America HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 75 Brazil HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 76 Brazil HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 77 Brazil HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 78 Argentina HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 79 Argentina HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 80 Argentina HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 81 Chile HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 82 Chile HVAC systems market, by product, 2017 - 2028 (USD Billion)
  • Table 83 Chile HVAC systems market, by end use, 2017 - 2028 (USD Billion)
  • Table 84 MEA HVAC systems market, 2017 - 2028 (USD Billion)
  • Table 85 MEA HVAC systems market, by application, 2017 - 2028 (USD Billion)
  • Table 86 MEA HVAC systems market, by service, 2017 - 2028 (USD Billion)
  • Table 87 MEA HVAC systems market, by service, 2017 - 2028 (USD Billion)

List of Figures

  • Fig. 1 HVAC systems market, 2020 (USD Billion)
  • Fig. 2 HVAC systems market segment
  • Fig. 3 HVAC systems market, 2017 - 2028 (USD Billion)
  • Fig. 4 Value chain analysis
  • Fig. 5 HVAC systems market driver impact
  • Fig. 6 HVAC systems market challenge impact
  • Fig. 7 HVAC systems penetration & growth prospects mapping
  • Fig. 8 HVAC systems market - Porter's analysis
  • Fig. 9 HVAC market - PEST analysis
  • Fig. 10 HVAC systems market, by product, 2020 & 2028 (USD Billion)
  • Fig. 11 HVAC systems market, by end use, 2020 & 2028 (USD Billion)
  • Fig. 12 HVAC systems market, by region, 2020 & 2028
  • Fig. 13 North America HVAC systems market - Key takeaways
  • Fig. 14 Europe HVAC market - Key takeaways
  • Fig. 15 Asia Pacific HVAC systems market - Key takeaways
  • Fig. 16 South America HVAC systems market - Key takeaways
  • Fig. 17 MEA HVAC systems market - Key takeaways
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