Equipment for HVAC Market Analysis
HVAC Equipment Market is projected to grow at a CAGR of 4.10% during the forecast period (2021 - 2027).
Drivers
Growing Government Spending to Boost Market Growth
The growing government spending on sustainable building development will boost market growth over the forecast period.
Opportunities
Government Efforts to Promote Energy-Efficient Products to offer Robust Opportunities
The increasing efforts made by the government across the world for promoting energy-efficient products will offer robust opportunities for the equipment for HVAC market over the forecast period.
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CAGR
4.10%
Base Year
2020
Forecast Period
2021–2027
Historical Data
2018-2019
Forecast Units
Value (USD Million)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
by Equipment (pressure switches, pressure transducers, capacitors, contactors, transformers, filter driers, sight glasses, reversing values)
Geographies Covered
North America (US, Canada, and Mexico) Europe (UK, Germany, France, and Rest of Europe) Asia-Pacific (China, Japan, India and Rest of Asia-Pacific) Middle East & Africa South America
Restraints
Constant Rise in Prices to act as Market Restraint
The constant rise in prices, increasing cost of raw materials, and specialized equipment costs needed to service a product may act as market restraints over the forecast period.
Challenges
High Maintenance and Installation Costs to act as Market Challenge
The high maintenance and installation costs, operational issues, and high energy consumption may act as market challenge over the forecast period.
Market Segmentation
The global equipment for HVAC market is bifurcated based on equipment.
By equipment, the capacitors segment will lead the market over the forecast period.
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COVID-19 Analysis
Supply chain disruptions, economic situations, fluctuations in demand share, as well as long-term & immediate effect of the COVID-19 pandemic possessed a negative effect on the equipment for HVAC market growth. The pandemic has slowed down economic activity and pushed the economy into a steep recession. With the roots being in China, the supply chains in the world are facing shutdown and unprecedented disruption. Besides, the initial setback, the industry is likely to return to normalcy during the forecast period and continue growing much beyond also.
Regional Analysis
APAC to Remain Forerunner in Equipment for HVAC Market
The APAC region will remain forerunner in equipment for HVAC market over the forecast period. Rapid urbanization in emerging economies such as Japan, India, and China that encourages consumers towards a comfortable lifestyle thus boosting the need for HVAC equipment, industrial development, developing construction activities, increase in need for fuel-efficient technologies, rapidly increasing population rate, easy availability of cost-effective systems, drastic climate changes, the rapid expansion of the construction industry & increasing government investment in energy in Indonesia are adding to the global equipment for HVAC market growth in the region. Besides, the focus of the Japanese government to develop existing infrastructure via initiating various real estate projects for attracting tourism, booming tourism industry, increasing disposable income levels, and urban growth are also adding market growth.
Key Players
Eminent industry players profiled in the global equipment for HVAC market report include Sensata Technologies (US), Saginomiya Seisakuusho (Tokyo), Jiangsu Match Well Electrical Products Co., Ltd (China), Honeywell International Inc. (US), Arrow Electronic Inc. (US), Basler Electric (Illinois), Diversitech (US), Dongan Electronic Manufacturing Company (US), General Electric (US), Hartland Controls (US), Lefco Industrial Corporation Ltd (China), Motors&Armatures Inc. (US), Noark Electric (Czech Republic), Nueva Generaction Manufacture (México), Parker Hannifin Corporation (US), Sealed Unit Parts Co. Inc. (US), American Zettler (US), DANFOSS (Denmark), Emerson Electric (US),Mueller Co (US), SANHUA Holdings Group Co Ltd (China), and Eaton Corporation (Ireland).
The HVAC equipment market includes heating, ventilation, and cooling or air conditioning equipment.
These factors are expected to drive the demand for HVAC equipment during the forecast period.High Energy Consumption to Hamper Growth of HVAC Equipment MarketUsage of HVAC equipment is low in underdeveloped regions where power failures and electricity issues are rampant.
Higher cost of electricity has made users opt for natural gas equipment; natural gas equipment emits higher greenhouse gases which are harmful to the environment.
Inconsistent power supply in remote or rural areas, increased energy consumption, and higher servicing costs are the major factors that are likely to hinder the growth of the HVAC equipment market across the globe.Technological Advancements & Innovation to Create More Market OpportunitiesThe growing trend of home automation has led to innovations and development of technologically advanced equipment.
Growing home automation and development of smart HVAC equipment is expected to create better opportunities for the HVAC equipment market in the near future.Key PlayersProminent companies operating in the global HVAC equipment market include Daikin Industries, Ltd., Samsung, United Technologies, Johnson Controls International Plc, Panasonic Corporation, Lennox International Inc., Mitsubishi Electric Corporation, Nortek Global HVAC LLC, Hitachi, Ltd., and Trane Technologies Plc (formerly Ingersoll-Rand Plc).Competitive LandscapeThis section of the report identifies various key manufacturers of the market.
It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market.
Energy use can vary significantly from building to building.
This heat can often make it difficult to keep air conditioned inside a building.With HVAC energy savings, HVAC systems can be designed to minimize the negative effects of large increases in outside temperatures by adjusting to the seasonal changes.
Many HVAC calculators allow users to enter in existing heating and cooling computations to determine how much extra energy is needed.
This type of HVAC calculator can also be used to examine seasonal changes in demand for HVAC efficiency.Some HVAC energy savings ideas are changing bulbs in HVAC units, purchasing LED retrofit lighting and appliances, using insulation to reduce heat, and using low voltage lighting systems.
An HVAC specialist can calculate the amount of lighting that will be needed to offset the loss from HVAC ducting.
Through an HVAC retrofit project, the conversion of old HVAC equipment into energy efficient lighting will provide significant energy savings per room.
11th September, 2018 - HVAC Equipment Market is expected to grow at a significant CAGR in the upcoming years as the scope and its applications are increasing across the globe.
HVAC (Heating, Ventilation, and Air Conditioning) Equipment is used in order to provide heating and cooling services for commercial, industrial, and residential buildings.
In addition, they are also used to circulate fresh air to indoor environments.Request a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/hvac-equipment-market/request-sampleThe factors that propel the growth of the HVAC Equipment Market include increasing demand, rapid urbanization & industrialization, rise in disposable income, technological innovations, and wide range of applications.
HVAC Equipment Industry is classified on the basis of product type, applications, distribution channel and geography.
HVAC Equipment Market is classified on applications as commercial, residential, automotive and others.
This market is segmented by distribution channel as online stores, specialty stores and others.
However, when you peel back the layers, you’ll start to see that shopping for a heat pump online, or any other component of your HVAC system, can actually be a very big help for someone without a lot of time.On the subject of time, it will save you time.
The process of working directly with a specialist can help you out as well, provided that said specialist actually delivers a high level of service, but that is not always the case.
On top of that, when you really know what you’re looking for, finding it online can be faster and easier than relying on the suggestions and input of a specialist.When you shop for a heat pump online, you can look through many, many listings in very short order and then compare their metrics side by side in basically no time at all.
No longer will you have to make a number of calls, trust someone else’s instincts or physically shop around.That’s another thing that shopping online can do for you, but it’s not limited to HVAC shopping.
It can also save you a ton of time and money in transportation expenses since you will no longer be saddled with the responsibility of, nay, the necessity of driving around looking at units.
Money and time, like usually, direct the course of actions of most.Notice above that we mentioned that an HVAC specialist is only valuable when their input can be trusted, and the trust factor is huge when it comes to domestic purchase decisions regarding HVAC equipment.
