Global HVAC Aftermarket Market 2023-2027

Description

List of Tables

Technavio has been monitoring the HVAC aftermarket market and is forecast to grow by USD 32929.46 mn during 2022-2027, accelerating at a CAGR of 7.77% during the forecast period. Our report on the HVAC aftermarket market provides a holistic analysis, market size, and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the robust growth of the construction industry, growing industrialization in developing economies, and the long life of HVAC systems.

Technavio's HVAC aftermarket market is segmented as below:

By Product

Air conditioning equipment
Heating equipment
Ventilation equipment

By End-user

Non-residential
Residential

By Geography

APAC
North America
Europe
South America
Middle East and Africa

This study identifies the adoption of cogeneration equipment as one of the prime reasons driving the HVAC aftermarket market growth during the next few years. Also, predictive maintenance and increasing automation, and a specific focus of vendors on non-residential sectors will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the HVAC aftermarket market covers the following areas:

HVAC aftermarket market sizing
HVAC aftermarket market forecast
HVAC aftermarket market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading HVAC aftermarket market vendors that include AB Electrolux, Carrier Global Corp., Daikin Industries Ltd., Danfoss AS, Emerson Electric Co., Fujitsu Ltd., Haier Smart Home Co. Ltd., Hitachi Ltd., Lennox International Inc., LG Electronics Inc., MIDEA Group, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Siemens AG, Gree Electric Appliances lnc.of Zhuhai, Johnson Controls International Plc, Nortek, Trane Technologies Plc, and Vaillant GmbH. Also, the HVAC aftermarket market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR40113

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market by Geography
Exhibit 05: Executive Summary - Chart on Market Segmentation by Product
Exhibit 06: Executive Summary - Chart on Market Segmentation by End-user
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global HVAC aftermarket market 2017 - 2021
Exhibit 18: Historic Market Size - Data Table on Global HVAC aftermarket market 2017 - 2021 ($ million)
4.2 Product Segment Analysis 2017 - 2021
Exhibit 19: Historic Market Size - Product Segment 2017 - 2021 ($ million)
4.3 End-user Segment Analysis 2017 - 2021
Exhibit 20: Historic Market Size - End-user Segment 2017 - 2021 ($ million)
4.4 Geography Segment Analysis 2017 - 2021
Exhibit 21: Historic Market Size - Geography Segment 2017 - 2021 ($ million)
4.5 Country Segment Analysis 2017 - 2021
Exhibit 22: Historic Market Size - Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2022 and 2027
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2022 and 2027
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2022 and 2027
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2022 and 2027
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2022 and 2027
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

6.1 Market segments
Exhibit 30: Chart on Product - Market share 2022-2027 (%)
Exhibit 31: Data Table on Product - Market share 2022-2027 (%)
6.2 Comparison by Product
Exhibit 32: Chart on Comparison by Product
Exhibit 33: Data Table on Comparison by Product
6.3 Air conditioning equipment - Market size and forecast 2022-2027
Exhibit 34: Chart on Air conditioning equipment - Market size and forecast 2022-2027 ($ million)
Exhibit 35: Data Table on Air conditioning equipment - Market size and forecast 2022-2027 ($ million)
Exhibit 36: Chart on Air conditioning equipment - Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Air conditioning equipment - Year-over-year growth 2022-2027 (%)
6.4 Heating equipment - Market size and forecast 2022-2027
Exhibit 38: Chart on Heating equipment - Market size and forecast 2022-2027 ($ million)
Exhibit 39: Data Table on Heating equipment - Market size and forecast 2022-2027 ($ million)
Exhibit 40: Chart on Heating equipment - Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Heating equipment - Year-over-year growth 2022-2027 (%)
6.5 Ventilation equipment - Market size and forecast 2022-2027
Exhibit 42: Chart on Ventilation equipment - Market size and forecast 2022-2027 ($ million)
Exhibit 43: Data Table on Ventilation equipment - Market size and forecast 2022-2027 ($ million)
Exhibit 44: Chart on Ventilation equipment - Year-over-year growth 2022-2027 (%)
Exhibit 45: Data Table on Ventilation equipment - Year-over-year growth 2022-2027 (%)
6.6 Market opportunity by Product
Exhibit 46: Market opportunity by Product ($ million)
Exhibit 47: Data Table on Market opportunity by Product ($ million)

7 Market Segmentation by End-user

7.1 Market segments
Exhibit 48: Chart on End-user - Market share 2022-2027 (%)
Exhibit 49: Data Table on End-user - Market share 2022-2027 (%)
7.2 Comparison by End-user
Exhibit 50: Chart on Comparison by End-user
Exhibit 51: Data Table on Comparison by End-user
7.3 Non-residential - Market size and forecast 2022-2027
Exhibit 52: Chart on Non-residential - Market size and forecast 2022-2027 ($ million)
Exhibit 53: Data Table on Non-residential - Market size and forecast 2022-2027 ($ million)
Exhibit 54: Chart on Non-residential - Year-over-year growth 2022-2027 (%)
Exhibit 55: Data Table on Non-residential - Year-over-year growth 2022-2027 (%)
7.4 Residential - Market size and forecast 2022-2027
Exhibit 56: Chart on Residential - Market size and forecast 2022-2027 ($ million)
Exhibit 57: Data Table on Residential - Market size and forecast 2022-2027 ($ million)
Exhibit 58: Chart on Residential - Year-over-year growth 2022-2027 (%)
Exhibit 59: Data Table on Residential - Year-over-year growth 2022-2027 (%)
7.5 Market opportunity by End-user
Exhibit 60: Market opportunity by End-user ($ million)
Exhibit 61: Data Table on Market opportunity by End-user ($ million)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 63: Chart on Market share by geography 2022-2027 (%)
Exhibit 64: Data Table on Market share by geography 2022-2027 (%)
9.2 Geographic comparison
Exhibit 65: Chart on Geographic comparison
Exhibit 66: Data Table on Geographic comparison
9.3 APAC - Market size and forecast 2022-2027
Exhibit 67: Chart on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 68: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 69: Chart on APAC - Year-over-year growth 2022-2027 (%)
Exhibit 70: Data Table on APAC - Year-over-year growth 2022-2027 (%)
9.4 North America - Market size and forecast 2022-2027
Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)
9.5 Europe - Market size and forecast 2022-2027
Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)
9.6 South America - Market size and forecast 2022-2027
Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)
9.7 Middle East and Africa - Market size and forecast 2022-2027
Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
9.8 China - Market size and forecast 2022-2027
Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ million)
Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ million)
Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)
9.9 US - Market size and forecast 2022-2027
Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ million)
Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ million)
Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)
9.10 Germany - Market size and forecast 2022-2027
Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)
9.11 Japan - Market size and forecast 2022-2027
Exhibit 99: Chart on Japan - Market size and forecast 2022-2027 ($ million)
Exhibit 100: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
Exhibit 101: Chart on Japan - Year-over-year growth 2022-2027 (%)
Exhibit 102: Data Table on Japan - Year-over-year growth 2022-2027 (%)
9.12 UK - Market size and forecast 2022-2027
Exhibit 103: Chart on UK - Market size and forecast 2022-2027 ($ million)
Exhibit 104: Data Table on UK - Market size and forecast 2022-2027 ($ million)
Exhibit 105: Chart on UK - Year-over-year growth 2022-2027 (%)
Exhibit 106: Data Table on UK - Year-over-year growth 2022-2027 (%)
9.13 Market opportunity by geography
Exhibit 107: Market opportunity by geography ($ million)
Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 109: Impact of drivers and challenges in 2022 and 2027
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 111: Overview on factors of disruption
11.4 Industry risks
Exhibit 112: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 113: Vendors covered
12.2 Market positioning of vendors
Exhibit 114: Matrix on vendor position and classification
12.3 AB Electrolux
Exhibit 115: AB Electrolux - Overview
Exhibit 116: AB Electrolux - Business segments
Exhibit 117: AB Electrolux - Key news
Exhibit 118: AB Electrolux - Key offerings
Exhibit 119: AB Electrolux - Segment focus
12.4 Carrier Global Corp.
Exhibit 120: Carrier Global Corp. - Overview
Exhibit 121: Carrier Global Corp. - Business segments
Exhibit 122: Carrier Global Corp. - Key news
Exhibit 123: Carrier Global Corp. - Key offerings
Exhibit 124: Carrier Global Corp. - Segment focus
12.5 Daikin Industries Ltd.
Exhibit 125: Daikin Industries Ltd. - Overview
Exhibit 126: Daikin Industries Ltd. - Business segments
Exhibit 127: Daikin Industries Ltd. - Key news
Exhibit 128: Daikin Industries Ltd. - Key offerings
Exhibit 129: Daikin Industries Ltd. - Segment focus
12.6 Emerson Electric Co.
Exhibit 130: Emerson Electric Co. - Overview
Exhibit 131: Emerson Electric Co. - Business segments
Exhibit 132: Emerson Electric Co. - Key news
Exhibit 133: Emerson Electric Co. - Key offerings
Exhibit 134: Emerson Electric Co. - Segment focus
12.7 Fujitsu Ltd.
Exhibit 135: Fujitsu Ltd. - Overview
Exhibit 136: Fujitsu Ltd. - Business segments
Exhibit 137: Fujitsu Ltd. - Key news
Exhibit 138: Fujitsu Ltd. - Key offerings
Exhibit 139: Fujitsu Ltd. - Segment focus
12.8 Haier Smart Home Co. Ltd.
Exhibit 140: Haier Smart Home Co. Ltd. - Overview
Exhibit 141: Haier Smart Home Co. Ltd. - Business segments
Exhibit 142: Haier Smart Home Co. Ltd. - Key offerings
Exhibit 143: Haier Smart Home Co. Ltd. - Segment focus
12.9 Hitachi Ltd.
Exhibit 144: Hitachi Ltd. - Overview
Exhibit 145: Hitachi Ltd. - Business segments
Exhibit 146: Hitachi Ltd. - Key news
Exhibit 147: Hitachi Ltd. - Key offerings
Exhibit 148: Hitachi Ltd. - Segment focus
12.10 Johnson Controls International Plc
Exhibit 149: Johnson Controls International Plc - Overview
Exhibit 150: Johnson Controls International Plc - Business segments
Exhibit 151: Johnson Controls International Plc - Key news
Exhibit 152: Johnson Controls International Plc - Key offerings
Exhibit 153: Johnson Controls International Plc - Segment focus
12.11 Lennox International Inc.
Exhibit 154: Lennox International Inc. - Overview
Exhibit 155: Lennox International Inc. - Business segments
Exhibit 156: Lennox International Inc. - Key offerings
Exhibit 157: Lennox International Inc. - Segment focus
12.12 LG Electronics Inc.
Exhibit 158: LG Electronics Inc. - Overview
Exhibit 159: LG Electronics Inc. - Product / Service
Exhibit 160: LG Electronics Inc. - Key offerings
12.13 Nortek
Exhibit 161: Nortek - Overview
Exhibit 162: Nortek - Product / Service
Exhibit 163: Nortek - Key offerings
12.14 Robert Bosch GmbH
Exhibit 164: Robert Bosch GmbH - Overview
Exhibit 165: Robert Bosch GmbH - Business segments
Exhibit 166: Robert Bosch GmbH - Key news
Exhibit 167: Robert Bosch GmbH - Key offerings
Exhibit 168: Robert Bosch GmbH - Segment focus
12.15 Samsung Electronics Co. Ltd.
Exhibit 169: Samsung Electronics Co. Ltd. - Overview
Exhibit 170: Samsung Electronics Co. Ltd. - Business segments
Exhibit 171: Samsung Electronics Co. Ltd. - Key news
Exhibit 172: Samsung Electronics Co. Ltd. - Key offerings
Exhibit 173: Samsung Electronics Co. Ltd. - Segment focus
12.16 Trane Technologies Plc
Exhibit 174: Trane Technologies Plc - Overview
Exhibit 175: Trane Technologies Plc - Business segments
Exhibit 176: Trane Technologies Plc - Key news
Exhibit 177: Trane Technologies Plc - Key offerings
Exhibit 178: Trane Technologies Plc - Segment focus
12.17 Vaillant GmbH
Exhibit 179: Vaillant GmbH - Overview
Exhibit 180: Vaillant GmbH - Product / Service
Exhibit 181: Vaillant GmbH - Key offerings

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 182: Inclusions checklist
Exhibit 183: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 184: Currency conversion rates for US$
13.4 Research methodology
Exhibit 185: Research methodology
Exhibit 186: Validation techniques employed for market sizing
Exhibit 187: Information sources
13.5 List of abbreviations
Exhibit 188: List of abbreviations