Growth in the world HVAC equipment market will average 4.1 percent per year through 2020, reaching $122 billion. Advances will largely be driven by building construction spending gains in developing countries. A number of developing nations have warm climates, and, as industrialization efforts continue to develop in these nations, there will be substantial opportunities for HVAC equipment installations. In addition, a changing regulatory environment for the refrigerants that are used in some HVAC equipment will also contribute to sales gains.
This report segments the world HVAC equipment industry product and market. Data is provided in million dollars, and in units for select products.
World HVAC equipment products include:
Room Air Conditioners
Unitary Air Conditioners
Warm Air Furnaces
Other HVAC Equipment
Room air conditioners will remain the largest of these product segments in 2020, accounting for 29 percent of demand. Room air conditioners are a significantly lower cost product than other major HVAC equipment products, which allows them to be used extensively, even in middle and low income countries (as long as a reliable source of electricity is available). Heat pumps will register the fastest gains through 2020, as the equipment’s performance advantages will result in it taking market share away from traditional HVAC equipment products.
The two major HVAC equipment markets are:
The nonresidential market will continue to dominate total HVAC equipment demand in 2020, accounting for 73 percent of the market. Nonresidential HVAC equipment demand will be particularly strong as nonresidential buildings are generally equipped with HVAC systems before residential buildings.
The world HVAC equipment industry includes a number of smaller companies that serve local and/or regional markets. However, a large portion of global sales is concentrated in a small number of companies. Leading producers of HVAC equipment include Blue Star, Bosch, Daikin Industries, Electrolux, Gree Electric Appliances, Haier, Ingersoll-Rand, Johnson Controls, Lennox, LG Electronics, Midea, Mitsubishi Electric, Paloma, Panasonic, and United Technologies.
Scope of the Report
This report covers the scope, size, and growth of the $100 billion world HVAC equipment industry, including key trends in building construction spending and refrigerant regulations. For six regions and 19 countries, the study includes historical product demand for 2005, 2010, and 2015 and product demand forecasts for 2020 and 2025.
Regions covered in this report include:
Central & South America