$286.8 Billion Heating, Ventilation and Air Conditioning (HVAC) Systems Markets – Global Trajectory & Analytics to 2026 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Heating, Ventilation and Air Conditioning (HVAC) Systems – Global Market Pathway and Analysis” report has been added to ResearchAndMarkets.com’s to offer.

Global Heating, Ventilation and Air Conditioning (HVAC) Systems Market $286.8 Billion by 2026

Amid the COVID-19 crisis, the global heating, ventilation and air conditioning (HVAC) market, estimated to be US$201 billion in the year 2020, is expected to reach a revised size of US$286.8 by 2026. billion, at a CAGR of 5.9% over the analysis period.

Rising concerns about climate change, rising energy prices and carbon emissions continue to drive the adoption of HVAC systems in commercial spaces. The market will also benefit from the increasing demand for energy-saving products. Discounts for energy efficient systems such as air conditioning and HVAC encourage commercial building users to implement and upgrade HVAC systems.

Cooling Systems, one of the segments analyzed in the report, is expected to grow at a CAGR of 6.2% to reach US$204 billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the economic crisis caused, the growth in the Heating Systems segment is adjusted to a revised CAGR of 5.5% for the next 7 years.

This segment currently has a 20.8% share of the global heating, ventilation and air conditioning (HVAC) market. The demand for heat pumps is attributed to the availability of systems with advanced functions that enable space heating and cooling while simultaneously heating water.

The ability of heat pumps to provide higher efficiency compared to other space heating and cooling units is expected to increase further in the coming years. Climate change and the gradually increasing average temperature mean that cooling equipment is used in summer.

Ventilation Systems Segment Reaches $34 Billion by 2026

In the global ventilation systems segment, the US, Canada, Japan, China and Europe will achieve the estimated CAGR of 4.2% for this segment. These regional markets, representing a combined market size of $19.4 billion by the year 2020, are projected to reach $25.8 billion by the end of the analysis period.

China remains one of the fastest growing in this cluster of regional markets. Led by countries such as Australia, India and South Korea, the Asia-Pacific market is projected to reach US$4.5 billion by the year 2026, while Latin America will grow at a CAGR of 5.6 during the analysis period. %.

Main topics covered:

I. METHODOLOGY

II. MANAGEMENT SUMMARY

  • Market insights from influencers

  • Impact of Covid-19 and a looming global recession

  • HVAC Market Analysis and Outlook

  • Asia-Pacific continues to dominate the global market

  • Changing Economic Scenario Influence Market Dynamics

  • Global economic outlook: real GDP growth rates in % by country/region for the years 2017 to 2020

  • Climate change: a key driver for energy efficient HVAC systems

  • Millennial Generation: playing an important role

  • Carrier Corporation (US)

  • Daikin Industries Ltd. (Japan)

  • Danfoss (Denmark)

  • Emerson Electric Co. (US)

  • Fujitsu General Limited (Japan)

  • Gree Electric Appliances, Inc. (China)

  • Havells India Limited (India)

  • Hitachi Ltd. (Japan)

  • Honeywell International, Inc. (US)

  • Johnson Controls, Inc. (US)

  • Johnson Controls-Hitachi Air Conditioning (Japan)

  • Lennox International, Inc. (US)

  • LG Electronics, Inc. (South Korea)

  • Midea Group (China)

  • Mitsubishi Electric Trane HVAC US LLC (US)

  • Panasonic Corporation of North America (US)

  • Rheem Manufacturing Company (US)

  • Samsung HVAC (US)

  • Trane Inc. (US)

  • Whirlpool Corp. (US)

  • Urgent need to reduce energy consumption and operating costs drives market for energy-efficient HVAC systems

  • Other key innovations enabling efficient and high-performance HVAC systems

  • Use of multi-enzyme solutions

  • Sustainable Retrofit

  • Air conditioning with ice power

  • Digital ceilings

  • smart glasses

  • Durable HVAC Duct

  • Major Market Restrictions

  • Smart HVAC systems have huge potential

  • Smart thermostats: an important development

  • Integration of HVAC systems and IoT offers new opportunities

  • AI for lower building heating and cooling costs

  • Cloud-connected HVAC systems enable the creation of smart and efficient facilities

  • Automated control systems for HVAC equipment provide better grip in buildings

  • Alternative energy sources Draw attention

  • Solar HVAC systems gain traction

  • Heat pumps dominate the HVAC market

  • Geothermal cooling and heating provides a viable option to improve building efficiency

  • Closed and open loop systems

  • Ask about channelless ACs on Rise

  • Strong growth in demand for multi-zone channelless systems

  • Global VRF System Market to Accelerate

  • Outdoor units lead the market

  • HVACs with air quality systems: in high demand

  • Air Conditioning Systems: Climate Change and Rising Temperatures Drive Market Growth

  • Use of environmentally friendly refrigerants Increase in ACs

  • Green refrigerants to replace hydrofluorocarbons

  • Increase in DeVAP System Adoption

  • Growing interest in indoor growth facilities: a driver of emerging markets

  • Huge investments in the construction sector are boosting market prospects for HVAC systems

  • Increasing demand for replacement and renovation of HVAC systems

  • Increasing urbanization to increase the need for HVAC systems

  • World urban population in thousands: 1950-2050P

  • Prosperous middle class opens up Asia to an important market

III. MARKET ANALYSIS

  • Market overview

  • Government initiatives support the demand for energy-efficient models

  • Positive signs of upturn in the construction market bode well for HVAC systems

  • Total construction start (in US$ billion) in the US for the years 2015 to 2020

  • Energy Conservation Efforts Affect Japan’s HVAC Industry

  • China evolves into core market for HVAC systems

  • Rising standard of living Expansion fuel market

  • High growth opportunities identified in India geïdentificeerd

  • Healthy demand for air conditioning systems

  • Regional Demand Patterns

  • Energy-efficient products enter the market

  • Use of natural refrigerants

  • Environmentally friendly air conditioning systems gain traction

IV. CONTEST

  • Total number of companies profiled: 82

For more information about this report, visit https://www.researchandmarkets.com/r/esrvdx

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