Heating, Ventilation and Air Conditioning (HVAC) Market: 2021 Review, Future Growth, Global Survey Share, Key Findings a


Market Insights聽

Market Research Future's report on the global聽heating, ventilation, air conditioning (HVAC)聽 market聽projects steady growth over the forecast period of 2015 to 2027. HVAC systems are extensively employed in almost every building to some degree or the other. The pervasive use of these systems has encouraged market players to focus on innovation and produce HVAC systems which are advanced, thus increasing demand. Moreover, product innovation investments have grown significantly, and in addition to producing advanced HVAC systems, manufacturers and market players are also increasingly focussing in customization of these systems and are employed in producing HVAC systems which are application specific. This has proven to be an important industry trend which is driving growth and the creation of opportunities in the market.聽

Global warming and climate change have become evident over the past few years. This has proven to be a major driver for the market as it has significantly increased the deployment rate of indoor temperature control systems including HVAC systems. Countries with constant climatic fluctuations and predominantly hot weather are among the significant regions in the market. Urbanization and the presence of an ever-increasing human population have played an important role in the increased demand for HVAC systems. Increasing demand and construction of smart buildings as well as the deployment of smart city initiatives have boosted the demand for advanced HVAC systems and are expected to result in growth for the global market.

Market Segmentation

MRFR's detailed analysis of the market has included segmental analysis聽 which has been performed on the basis of product type, application, and region. By product type, the market is segmented to include central air conditioning, through the wall or window air conditioners, packaged air conditioners, and split residential air conditioners. Applications for HVAC systems which have been recorded in the market report include commercial, hospitality, institutional, residential, and others. The residential segment is an important one due to changing climate conditions and increased disposable income which has led to the increased demand for air conditioning units.

Key Players

Johnson Controls, Zamil Air Conditioners, Ingersoll Rand, Lennox International, Daikin, Fujitsu General., Gree Electric Appliances Inc, Honeywell International, Siemens Building Technologies, and Samsung Electronics are among the noted market players who have been included in MRFR鈥檚 analysis of the competitive landscape of the global聽HVAC market.聽

Regional Analysis

The Middle East and Africa (MEA) region is expected to be a highly lucrative market for HVAC systems over the forecast period. The region has a natural desert climate and receives variable, but hot climate through the year which has encouraged local governments to increase efforts in the improvement of infrastructure in MEA countries. This is expected to lead to significant opportunities for the market, and the MEA market is projected to witness above-average growth over the assessment period. Countries such as UAE, Qatar, and Oman are important country level markets as they are rapidly emerging and actively employ the use of HVAC to assist with hot weather. For instance, the bus stops in Dubai are equipped with air conditioners to maintain lower temperatures in sheltered areas during the hot season.聽

North America and Europe are also significant markets as they have a high concentration of market players which participate in the global market. Moreover, climate change has led to increased heat during summers and colder winters which drive the demand for HVAC systems to maintain comfortable indoor temperatures year round.

Latest Industry News

  • Daikin has unveiled its newest HVAC system offering at a special Las Vegas event. The Daikin Fit is a compact, low profile unit which is tailored for residential applications.
  • Haller Enterprises has unveiled its plans to open a training center for HVAC and other trades.

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