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Sep 07, 2023

Global HVAC Market Report 2023 to 2028: Key Players Include Systemair, Johnson Controls, Zehnder and Ostberg

News provided by 08 Feb, 2023, 06:50 ET Share this article DUBLIN, Feb. 8, 2023

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08 Feb, 2023, 06:50 ET

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DUBLIN, Feb. 8, 2023 /PRNewswire/ -- The "HVAC Market - Global Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global HVAC market size is expected to grow at a CAGR of 5.43% from 2022-2028. The global market is undergoing tremendous modifications due to the increasing integration of the Internet of Things (IoT) technology with HVAC products, making them innovative and accessible.

The emphasis on connecting several sensors within building ecosystems, including HVAC, has grown for achieving energy efficiency. In 2022, the major economies in APAC, including China, Japan, and India, witnessed increasing commercial construction activities due to an expanding number of companies in various sectors setting up their offices in distinct regions to capture the target and potential customer base.

In the APAC region, the increasing demand for energy-efficient HVAC systems and stringent regulations for the use of explosion-proof HVAC equipment is boosting the adoption across industries. It will offer enormous growth opportunities in the HVAC market.

Further, Middle East countries are witnessing drastic climate changes. Rising temperatures and heat waves increased the demand for HVAC systems in commercial and residential buildings to control indoor climate conditions, further propelling the HVAC market growth. Along with providing residents with comfort, filtering can also improve indoor air quality. Hence these factors propel sales growth across the Middle East & Africa region during the forecast period.MARKET TRENDS & DRIVERS

Replacement of Existing Equipment with Energy Efficient ProductsIn 2020, the commercial sector experienced the steepest decline due to the hard-hit hotel & motel industry and sports & convention centers. The commercial sector has witnessed constant growth since 2021, with the recovering economy. Energy-efficient HVAC technologies for residential and commercial buildings have the potential to provide environmental and economic benefits.

They are optimizing energy-efficient HVAC technologies, and proper installation planning help to reach energy-saving potential by up to 40%. Therefore, replacing existing equipment with energy-efficient HVAC technologies will boost the growth rate of the HVAC market in the future.Rising Construction IndustryIn the long run, the construction industry globally is expected to experience steady growth due to low-interest rates in a few European countries and stable economic growth. The construction of hotels, amusement parks, private & government offices, and sports & convention centers is growing, thereby supporting the HVAC market in the construction sector.The global HVAC market is highly dependent on the construction industry for revenue through new installations, whether residential or commercial. The refurbishment of buildings provides massive revenue to the HVAC industry.

The industry witnessed an increased inflow of public and private investments, mainly in countries, such as Spain, Cyprus, Italy, and the Netherlands. In 2022, The Construction Intelligence Center (CIC) revised the growth forecast for the European construction industry. This was because of the improved performance of some significant developed city markets and a brighter outlook for the European economy.

COMPETITIVE LANDSCAPESystemair, Johnson Controls, Zehnder, Ostberg, and Aldes are some of the key players in the global HVAC market. Other players operating in the global HVAC market include LG, Panasonic, Carrier, Regal, and others. The prominent vendors focus on developing advanced HVAC and investing in R&D initiatives to enlarge their product line and gain a competitive advantage in the market.Other attractive prospects in the form of IoT are expected to change the industry's working as they connect all components and create an environment where the device operation can be managed efficiently using smart management solutions. Moreover, because of a highly competitive industry, R&D investments in the HVAC market are limited and have substantial investments, mainly from large vendors.

Moreover, the short time-to-market and narrow acceptance of new technologies add to market challenges for HVAC vendors. R&D investments are more focused on cost reduction of the production process and improvement of the existing product technology for value addition than developing new products. As a result, a lot of mergers & acquisitions are taking place to develop and enhance the offerings and attributes to survive in the global HVAC market.Key Company Profiles

Other Prominent Vendors

Key Questions Answered:1. How big is the HVAC market?2. What is the growth rate of the global HVAC market?3. What are the significant trends in the global HVAC market?4. Who are the key players in the global HVAC market?5. Which region holds the most prominent global HVAC market share?6. What is the market size of the global Residential HVAC market?Key Topics Covered: 1 Research Methodology2 Research Objectives3 Research Process4 Scope & Coverage4.1 Market Definition4.1.1 Inclusions4.1.2 Exclusions4.1.3 Market Estimation Caveats4.2 Base Year4.3 Scope of Study4.4 Market Segmentation4.4.1 Market Segmentation by Equipment4.4.2 Market Segmentation by Heating Equipment4.4.3 Market Segmentation by Air Conditioning Equipment4.4.4 Market Segmentation by Ventilation Equipment4.4.5 Market Segmentation by End-user4.4.6 Market Segmentation by Geography5 Report Assumptions & Caveats5.1 Key Caveats5.2 Currency Conversion5.3 Market Derivation6 Premium Insights7 Market at a Glance8 Introduction8.1 Overview8.1.1 Advantages of Smart Hvac Systems8.1.2 Disadvantages of Smart Hvac Systems8.1.3 Initiatives for Better Risk Management8.1.4 Measures to Improve Profit Margins8.1.5 Challenges Associated with Hvac Systems for Residential and Commerical Use8.1.6 Recent Mergers & Acquisitions and Product Development Initiatives8.1.7 Development of Environment-Friendly Hvac Equipment8.1.8 Impact of Residential Construction Projects8.1.9 Impact of Non-Residential Construction Projects8.1.10 Challenges Associated with Hvac Equipment for Residential and Commerical Use8.2 Repowereu Plan8.3 Benefits of Ira for Heating Equipment8.4 Value Chain8.4.1 Raw Material Suppliers & Components8.4.2 Manufacturers8.4.3 Dealers /Distributors8.4.4 Retailers8.4.5 End-users8.5 Impact of COVID-199 Market Opportunity & Trends9.1 Replacement of Existing Hvac Equipment with Energy-Efficient Products9.2 Emergence of IoT and Product Innovations to Aid Replacements9.3 Adverse Climatic Conditions & High Demand for Hvac Systems10 Market Growth Enablers10.1 Growth of Global Construction Industry10.2 Surge in Airport Modernization Projects Worldwide10.3 Rise in Demand for Vrf Systems11 Market Restraints11.1 Low Availability of Skilled Labor11.2 Stringent Regulatory Environments Worldwide11.3 Implications of COVID-19 Outbreak12 Market Landscape12.1 Market Overview12.1.1 Highlights12.2 Market Size & Forecast12.2.1 Value12.3 Five Forces Analysis12.3.1 Threat of New Entrants12.3.2 Bargaining Power of Suppliers12.3.3 Bargaining Power of Buyers12.3.4 Threat of Substitutes12.3.5 Competitive Rivalry13 Equipment13.1 Market Snapshot & Growth Engine13.2 Market Overview13.2.1 Key Insights13.3 Heating13.3.1 Market Overview13.3.2 Market Size & Forecast13.3.3 Market by Geography13.3.4 Heat Pumps: Market Size & Forecast13.3.5 Boiler Units: Market Size & Forecast13.3.6 Furnaces: Market Size & Forecast13.3.7 Other Heating Equipment: Market Size & Forecast13.4 Air Conditioning13.4.1 Market Overview13.4.2 Key Takeaways13.4.3 Market by Geography13.4.4 Rac: Market Size & Forecast13.4.5 Cac: Market Size & Forecast13.4.6 Chillers: Market Size & Forecast13.4.7 Heat Exchanger: Market Size & Forecast (Includes Cooling Towers)13.4.8 Other Air Conditioning Equipment: Market Size & Forecast13.5 Ventilation13.5.1 Market Overview13.5.2 Market Size & Forecast13.5.3 Market by Geography13.5.4 Air Handling Units: Market Size & Forecast13.5.5 Air Filters: Market Size & Forecast13.5.6 Humidifiers & Dehumidifiers: Market Size & Forecast13.5.7 Fan Coil Units: Market Size & Forecast13.5.8 Other Ventilation Equipment: Market Size & Forecast14 End-user14.1 Market Snapshot & Growth Engine (Value)14.2 Market Overview14.3 Residential14.3.1 Market Overview14.3.2 Market Size & Forecast14.3.3 Market by Geography14.4 Commercial14.4.1 Market Overview14.4.2 Market Size & Forecast14.4.3 Market by Geography14.4.4 Office Spaces: Market Size & Forecast14.4.5 Airports & Public Utilities: Market Size & Forecast14.4.6 Hospitality: Market Size & Forecast14.4.7 Hospitals: Market Size & Forecast14.4.8 Industrial and Others: Market Size & Forecast15 Geography16 APAC

17 Europe18 Western Europe19 Nordic

20 Central & Eastern Europe (Cee)21 North America22 Latin America23 Middle East & Africa24 Competitive Landscape

25 Key Company Profiles26 Other Prominent Vendors27 Report Summary

28 Quantitative Summary29 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/b92edg-market?w=5

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