HVAC System Market Growth, Demand, Opportunities, Trends and Future Scope 2022-2032

HVAC System Market Size- By Equipment, By Offering, By Application, By Implementation- Regional Outlook, Competitive Strategies and Segment Forecasts to 2032

HVAC System Market Size- By Equipment, By Offering, By Application, By Implementation- Regional Outlook, Competitive Strategies and Segment Forecasts to 2032

Published: Dec 2022 Report ID: IACT2226 Pages: 1 - 226 Formats*:     
Category : Information & Communications Technology
Global HVAC System Market Overview:

According to SPER Market Research, the Global HVAC System Market is estimated to reach USD 407.35 billion by 2032 with a CAGR of 6.85%. 

One of the main private-sector sectors in the chemicals and materials industry is the HVAC Systems market. The HVAC Systems market is expanding steadily, and market dynamics are changing quickly. The important short- and long-term market trends that are expected to influence the future of the HVAC Systems industry are identified in the analysis. The research also goes into detail about the major driving forces behind the market expansion for HVAC Systems as well as the obstacles that HVAC Systems firms may need to overcome.Condensing boiler choice is one of the key factors driving the HVAC business. In areas with severe weather, HVAC systems are utilised for both heating and cooling. The main advantage of boiler systems is based on radiant or convection heat, which offers constant heat with good temperature constancy. Additionally, features like easier maintenance, longer condensing boiler life, and modern technological controls could encourage growth in the global HVAC System Market throughout the course of the projection period.Architects and contractors both like using building automation systems. As a result, the market is opening up due to the growing need for building automation systems (BAS). 

Impact of COVID-19 on the Global HVAC System Market
The worldwide and regional HVAC Systems market has been significantly impacted by the COVID-19 epidemic.Looking ahead, three growth scenarios—low case, reference case, and high growth case scenarios—are projected for the global HVAC Systems market.However, when industrial activity began to slowly pick up after a severe lockdown, the market started to revive. Over the medium term, it is predicted that the market for HVAC systems in Asia Pacific would expand briskly. Future growth opportunities are being created by the rise of single-family and multi-family housing. The HVAC sector is rapidly turning its attention toward energy efficiency. Many OEMs are focusing on green efforts with an emphasis on cost-effectiveness while lowering greenhouse gas emissions. As a result, there has been a move in recent years toward HVAC systems that are environmentally friendly. This includes items that use less energy and are powered by renewable resources, which lowers energy costs.The use of building automation systems is common among architects and contractors. Furthermore, ACs can now be remotely controlled via a tablet, smartphone, or computer rather than being manually operated. This functionality and smart feature, also growing in popularity as a market trend, giving manufacturers new sources of income.


Scope of the Report:
 Report Metric Details
 Market size available for years 2019-2032
 Base year considered 2021
 Forecast period 2022-2032
 Segments coveredBy Equipment, By Offering, By Application, By Implementation
 Regions coveredNorth America, Europe, Asia Pacific, Latin America, Middle East and Africa
 Companies CoveredArkema Group, Carrier Global Corporation, Daikin Industries Ltd., Danfoss AS, Emerson Electric Co., Fujitsu General Ltd., Gree Electric Appliances Inc., Haier Smart Home Co. Ltd., Havells India Ltd., Hitachi Ltd., Honeywell International Inc., Johnson Controls International Plc, L.G. Electronics, Lennox International Inc., LG Electronics Inc., Melrose Industries Plc, Midea Group Co. Ltd., Mitsubishi Electric Corp., Nortek Global HVAC LLC, Paloma Co. Ltd., Panasonic Holdings Corp., Rheem Manufacturing Company, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Trane Technologies plc
Global HVAC System Market Segmentation:

By Equipment: Based on the Equipment, Global HVAC System Market is segmented as; Cooling Equipment (Unitary Air Conditioners, VRF Systems, Chillers, Room Air Conditioners, Coolers, Cooling Towers), Heating Equipment (Heat Pumps, Furnaces, Unitary Heaters, Boilers), Ventilation Equipment (Air Handing Units, Air Filters, Dehumidifiers, Ventilation Fans, Humidifiers and Air Purifiers).

By Offering: Based on the Offering, Global HVAC System Market is segmented as; HVAC Equipment (HVAC Machine Controllers, Energy Meters, Drives, Contractors, HMIs/Displays), HVAC Services (Installation, Upgradation/replacement, Maintenance and repair, Consulting).

By Application: Based on the Application, Global HVAC System Market is segmented as;Commercial (Office buildings, Supermarkets/hypermarkets, Government, Healthcare, Hospitality, Transportation), Industrial (Oil and gas, Food and beverage, Automotive, Energy and utilities) and Residential.

By Implementation: 
Based on the Implementation, Global HVAC System Market is segmented as; New Constructions and Retrofits.

By Region: In the developing nations, primarily in Asia Pacific, Latin America, Eastern Europe, the Middle East, and Africa, the majority of HVAC Systems companies are considering the potential for growing their business operations and bolstering their distribution network.
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
 
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
 
3. Executive Summary
 
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges 
4.2. COVID-19 Impacts of the Global HVAC System Market 
 
5. Market variables and outlook
5.1. SWOT analysis 
5.1.1 Strengths 
5.1.2 Weaknesses 
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis 
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape 
5.2.4 Technological landscape 
5.2.5 Environmental landscape 
5.2.6 Legal landscape 
5.3. PORTER’S five forces analysis 
5.3.1 Bargaining power of suppliers 
5.3.2 Bargaining power of Buyers 
5.3.3 Threat of Substitute 
5.3.4 Threat of new entrant 
5.3.5 Competitive rivalry
5.4.Heat map analysis
 
6. Global HVAC System Market, By Equipment, 2019-2032 (USD Million)
6.1. Cooling Equipment
6.1.1. Unitary Air Conditioners
6.1.2. VRF Systems
6.1.3. Chillers
6.1.4. Room Air Conditioners
6.1.5. Coolers
6.1.6. Cooling Towers
6.2. Heating Equipment
6.2.1. Heat Pumps
6.2.2. Furnaces
6.2.3. Unitary Heaters
6.2.4. Boilers
6.3. Ventilation Equipment
6.3.1. Air Handing Units
6.3.2. Air Filters
6.3.3. Dehumidifiers
6.3.4. Ventilation Fans
6.3.5. Humidifiers
6.3.6. Air Purifiers

7. Global HVAC System Market, By Offering, 2019-2032 (USD Million)
7.1. HVAC Equipment
7.1.1. HVAC Machine Controllers
7.1.2. Energy Meters
7.1.3. Drives
7.1.4. Contractors
7.1.5. HMIs/Displays
7.2. HVAC Services
7.2.1. Installation
7.2.2. Upgradation/replacement
7.2.3. Maintenance and repair
7.2.4. Consulting

8. Global HVAC System Market, By Application, 2019-2032 (USD Million)
8.1. Commercial
8.1.1. Office buildings
8.1.2. Supermarkets/hypermarkets
8.1.3. Government
8.1.4. Healthcare
8.1.5. Hospitality
8.1.6. Transportation
8.2. Industrial
8.2.1. Oil and gas
8.2.2. Food and beverage
8.2.3. Automotive
8.2.4. Energy and utilities
8.3. Residential

9. Global HVAC System Market, By Implementation, 2019-2032 (USD Million)
9.1. New Constructions
9.2. Retrofits

10. Global HVAC System Market, By Region, 2019-2032 (USD Million)
10.1. North America
10.1.1. Canada
10.1.2. Mexico
10.1.3. United States
10.2. Europe
10.2.1. France
10.2.2. Germany
10.2.3. Italy
10.2.4. Rest of Europe
10.2.5. Spain
10.2.6. United Kingdom
10.3. Asia-Pacific
10.3.1. Australia
10.3.2. China
10.3.3. India
10.3.4. Japan
10.3.5. Rest of Asia-Pacific
10.3.6. South Korea
10.4. South America
10.4.1. Brazil
10.4.2. Argentina
10.4.3. Rest of South America
10.5. Middle East & Africa
10.5.1. Kingdom of Saudi Arabia 
10.5.2. United Arab Emirates
10.5.3. Rest of Middle East & Africa

11. Company Profiles
11.1. Arkema Group
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments

11.2. Carrier Global Corporation
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments

11.3. Daikin Industries Ltd.
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments

11.4. Danfoss AS
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments

11.5. Emerson Electric Co.
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments

11.6. Fujitsu General Ltd.
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments

11.7. Gree Electric Appliances Inc.
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments

11.8. Haier Smart Home Co. Ltd.
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments

11.9. Havells India Ltd.
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments

11.10. Hitachi Ltd.
11.10.1. Company details
11.10.2. Financial outlook
11.10.3. Product summary
11.10.4. Recent developments

11.11. Honeywell International Inc.
11.11.1. Company details
11.11.2. Financial outlook
11.11.3. Product summary
11.11.4. Recent developments

11.12. Johnson Controls International Plc
11.12.1. Company details
11.12.2. Financial outlook
11.12.3. Product summary
11.12.4. Recent developments

11.13. L.G. Electronics
11.13.1. Company details
11.13.2. Financial outlook
11.13.3. Product summary
11.13.4. Recent developments

11.14. Lennox International Inc.
11.14.1. Company details
11.14.2. Financial outlook
11.14.3. Product summary
11.14.4. Recent developments

11.15. Melrose Industries Plc
11.15.1. Company details
11.15.2. Financial outlook
11.15.3. Product summary
11.15.4. Recent developments

11.16. Midea Group Co. Ltd.
11.16.1. Company details
11.16.2. Financial outlook
11.16.3. Product summary
11.16.4. Recent developments

11.17. Mitsubishi Electric Corp.
11.17.1. Company details
11.17.2. Financial outlook
11.17.3. Product summary
11.17.4. Recent developments

11.18. Nortek Global HVAC LLC
11.18.1. Company details
11.18.2. Financial outlook
11.18.3. Product summary
11.18.4. Recent developments

11.19. Paloma Co. Ltd.
11.19.1. Company details
11.19.2. Financial outlook
11.19.3. Product summary
11.19.4. Recent developments

11.20. Panasonic Holdings Corp.
11.20.1. Company details
11.20.2. Financial outlook
11.20.3. Product summary
11.20.4. Recent developments

11.21. Rheem Manufacturing Company
11.21.1. Company details
11.21.2. Financial outlook
11.21.3. Product summary
11.21.4. Recent developments

11.22. Robert Bosch GmbH
11.22.1. Company details
11.22.2. Financial outlook
11.22.3. Product summary
11.22.4. Recent developments

11.23. Samsung Electronics Co. Ltd.
11.23.1. Company details
11.23.2. Financial outlook
11.23.3. Product summary
11.23.4. Recent developments

11.24. Trane Technologies plc
11.24.1. Company details
11.24.2. Financial outlook
11.24.3. Product summary
11.24.4. Recent developments

SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings.  The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

SPER-Methodology-1

SPER-Methodology-2

SPER-Methodology-3


Frequently Asked Questions About This Report
The HVAC System Market is projected to reach USD 407.35 billion by 2032, growing at a CAGR of 6.85% during the forecast period.
The HVAC System Market grew in market size from 2021. The Market is expected to reach USD 407.35 billion by 2032, at a CAGR of 6.85% during the forecast period.
The HVAC System Market CAGR of 6.85% during the forecast period.
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The HVAC System Market size is USD 407.35 billion from 2022 to 2032.
The HVAC System Market segment is Covered By Equipment, By Offering, By Application, By Implementation.
The North America and Europe region is anticipated to have the highest market share in the HVAC System Market.
The key players in the market include Companies Covered Arkema Group, Carrier Global Corporation, Daikin Industries Ltd., Danfoss AS, Emerson Electric Co., Fujitsu General Ltd., Gree Electric Appliances Inc., Haier Smart Home Co. Ltd., Havells India Ltd., Hitachi Ltd., Honeywell International Inc., Johnson Controls International Plc, L.G. Electronics, Lennox International Inc., LG Electronics Inc., Melrose Industries Plc, Midea Group Co. Ltd., Mitsubishi Electric Corp., Nortek Global HVAC LLC, Paloma Co. Ltd., Panasonic Holdings Corp., Rheem Manufacturing Company, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Trane Technologies plc.
The global HVAC System Market throughout the course of the projection period.Architects and contractors both like using building automation systems. As a result, the market is opening up due to the growing need for building automation systems (BAS).
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