HVAC Equipment Market is expected to reach USD 278.75 Billion by the year 2028, at a CAGR of 6.3%.
Global HVAC Equipment Market was valued at USD 181.75 Billion in 2021 and is expected to reach USD 278.75 Billion by the year 2028, at a CAGR of 6.3%.
Urbanization, industrialization, and migration shifts are some of the main factors fuelling the rise of the HVAC equipment market. As a result, there are more businesses, manufacturing facilities, and residential complexes using HVAC equipment. In addition, the demand for electrical cooling systems in the summer and for natural gas, heating oil, wood, and electrical heating systems in the winter has increased as a result of climate change. Building energy use and air conditioning loads are affected by climate change and fluctuate based on the surrounding temperature and humidity. New regulatory regulations are anticipated to increase the energy efficiency of HVAC systems. This has made it possible for intelligent HVAC control systems to be used.
The report provides a detailed and dedicated analysis of the present scenario of the market, presenting a top to bottom analysis of the industry. The report puts forth all-inclusive data on the market that enhances the scope, understanding, and application of this report. The report introduces new trends that can guide the businesses performing in the industry with the right decision-making. The report entails important details about the market size of the HVAC Equipment Market, trends, share, cost structure, growth, revenue, capacity, and forecast.
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Some of the leading companies offering HVAC Equipment are:
- Carrier Corporation (US)
- Goodman Manufacturing Company L.P. (US)
- Rheem Manufacturing Company (US)
- Daikin Industries Ltd (Japan)
- Emerson Electric Co (US)
- Johnson Controls International (Ireland)
- Lennox International Inc. (US)
- Trane Technologies (US)
- York (US)
- American standard (US)
- Daikin (Japan)
- Ingersoll Rand (US)
- LG Electronics (South Korea)
- United Technologies (US)
- Electrolux (Sweden)
- Lennox (US)
- Nortek (US) and Other Major Players.
Market has segmented the global HVAC Equipment market on the basis of type, application, and region:
The HVAC Equipment market is segmented by type and application. Growth between segments over the period 2022-2028 provides accurate calculations and forecasts of revenue by type and application in terms of volume and value. This analysis can help you expand your business by targeting eligible niches.
By System Type:
- Heating & cooling split systems
- Hybrid split system
- Duct free
By Regional Outlook
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
- Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of South America)
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Covid-19 Impact and Recovery Analysis on Industry:
The COVID-19 pandemic has had devastating effects on several industry verticals globally. To constrain the number of cases and slow the coronavirus spread, various public health guidelines were implemented in different countries across the globe. COVID-19 protocols ranging from declaring national emergency states, enforcing stay-at-home orders, closing nonessential business operations and schools, banning public gatherings, imposing curfews, distributing digital passes, and allowing police to restrict citizen movements within a country, as well as closing international borders. With the growing vaccination rate, governments are uplifting the protocols to give a boost to the stagnant economy. Like other industries, HVAC Equipment Market have experienced slowdown the growth, however market is expected bounce back as restrictions are being lifted up by governments across the globe.
HVAC System Market Analysis: Type Overview
Based on type, the HVAC system market is segmented into split system, ductless system and packaged system. Ductless System can be used in variety of residential settings. The most frequent usage is in multifamily buildings or as a retrofit addition to premises that already has non ducted heating systems like hydronic, radiant panels and space heaters. Split HVAC system is divided into two independent components, one of which serves as a heating unit and the other as a cooling unit, as the name would imply. It should be emphasized that these systems have plainly distinguishable indoor and outdoor units.
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