San Francisco, 27 February, HVAC Systems Market Size, Share & Trends
Analysis Report By Product (Ventilation, Cooling, Heating), By End Use
(Residential, Commercial, Industrial), By Region, And Segment Forecasts, 2018 –
2025.
The global HVAC systems market size is anticipated to reach USD 183.8 billion
by 2025, according to a new report by Grand View Research Inc. The market is
estimated to witness a CAGR of 5.7% during the forecast period. Growing
commercial sector and rapid urbanization across the globe are driving the
demand for HVAC equipment. Furthermore, incentives and rebates programs offered
by various governments to promote the use of energy-efficient units is
anticipated to bolster the HVAC equipment market growth.
Moreover,
HVAC systems are being integrated with next-generation technologies, such as
IoT sensors, remote control systems, and hybrid HVAC units, to provide optimum
comfort with reduced energy consumption. This is also anticipated to support the
global market expansion over the forecast period. On the other hand, high
installation and maintenance costs coupled with complexity of retrofit HVAC
installations may hinder the market growth. However, many prominent
manufacturers are investing in R&D to develop cost- and energy-efficient
units; which will fuel the product demand.
For
instance, a California-based company developed an ice-powered air conditioning
system. The new system reduces the energy consumption of the building by
freezing a significant amount of water overnight and offers six hours of
cooling the next day. Several residential complexes and businesses are
replacing old HVAC systems with new energy-efficient units for higher
performance, energy savings, and cost reduction. Moreover, remodeling and new
construction of residential, commercial or industrial buildings requires HVAC
systems. These factors are expected to propel the market development over the
forecast period.
Asia
Pacific region led the HVAC equipment market, in terms of market share. This
growth is attributed to the rising disposable income and awareness regarding
energy-efficient products. Furthermore, growing real estate industry across the
region as a result of increasing population will also have a positive impact on
the product demand. The emergence of smart buildings and government initiatives
promoting the use of energy- and cost-efficient systems are also expected to
boost the market growth in this region.
Access Full
Research Report On HVAC Systems Market Analysis:
Further key findings from the study suggest:
·
Cooling systems led the HVAC
equipment market in 2017 and is likely to grow further on account of rising
demand from the residential and commercial sectors
·
The residential segment held
the majority share of the total revenue in 2017 owing to rise in real estate
sector in developing regions
·
Driven by Japan and China, Asia
Pacific was the dominant region in the global market. It is projected to
maintain its dominance in future on account of growing real estate market and
consumer disposable income levels
·
Leading companies and several
governments across the globe are promoting HVAC systems through endorsement
labels like ENERGY STAR and incentive programs, which will boost the market
growth
·
Some of the top companies in
this market are LG Electronics, Inc.; Lennox International, Inc.; Carrier
Corporation; Samsung Electronics Co. Ltd.; United Technologies Corporation;
Johnson Controls International PLC; and Daikin Industries Ltd.
Browse More Reports Of This
Category By Grand View Research At: www.grandviewresearch.com/industry/hvac-and-construction-technologies
Grand View Research has
segmented the global HVAC systems market on the basis of product, end use, and
region:
HVAC Systems Product
Outlook (Revenue, USD Billion, 2015 - 2025)
·
Heating
·
Ventilation
·
Cooling
HVAC Systems End
Use Outlook (Revenue, USD Billion, 2015 - 2025)
·
Residential
·
Commercial
·
Industrial
HVAC
Systems Regional Outlook (Revenue, USD Billion, 2015 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
U.K.
o
Germany
o
Italy
o
Spain
o
France
·
Asia Pacific
o
India
o
China
o
Japan
o
South Korea
o
Australia
·
South America
o
Brazil
o
Argentina
o
Chile
·
Middle East & Africa (MEA)
Browse Press Release of this Report:
www.grandviewresearch.com/press-release/global-hvac-systems-equipment-market
www.grandviewresearch.com/press-release/global-hvac-systems-equipment-market
About Grand View Research
Grand View Research provides syndicated
as well as customized research reports and consulting services on 46 industries
across 25 major countries worldwide. This U.S.-based market research and
consulting company is registered in California and headquartered in San
Francisco. Comprising over 425 analysts and consultants, the company adds 1200+
market research reports to its extensive database each year. Supported by an
interactive market intelligence platform, the team at Grand View Research
guides Fortune 500 companies and prominent academic institutes in comprehending
the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com/
No comments:
Post a Comment