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World HVAC Equipment


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World HVAC Equipment

World demand to rise 6% annually through 2018
Global demand for HVAC equipment is expected to rise roughly six percent per year to $113 billion in 2018. Gains will be aided by continued expansion in building construction activity worldwide and improved spending in developed areas as the global recession of 2009 and subsequent slow recovery limited the market during the 2008-2013 period. Growth will also be driven by increased market penetration, stimulated by rising personal incomes that enable a wider array of individuals to purchase comfort equipment. Additionally, expanded infrastructure, leading to improved access to reliable electricity in developing countries, will provide the energy sources required to power HVAC equipment. Product development is extremely important and will continue to grow at a rapid pace in light of rising interest in more efficient systems and regulations requiring both greater efficiency and, in the case of cooling equipment, the use of more environmentally friendly refrigerants. To this end, HCFCs (e.g., R-22) are increasingly phased out in favor of HFCs (e.g,. HFC-410a), hydrocarbons (e.g., propane), and “natural” refrigerants (e.g., ammonia).

Dominant Asia/Pacific region to gain market share
The largest regional market for HVAC equipment in 2013 was the Asia/Pacific region, with half of the global total. Advances will be propelled by the continuing development of the Chinese market, which will account for 59 percent of regional sales in 2018 and nearly onethird of additional global demand through 2018. India is expected to post the most rapid gains worldwide with double-digit growth of HVAC equipment sales through 2018 aided by expanding electric power infrastructure and HVAC distribution networks, rising incomes, and greater construction spending. However, in many of the least developed countries in the region, growth for HVAC equipment will be restrained by inadequate personal incomes, unreliable power supplies, and limited product availability.

In 2013, North America was the second largest regional market, accounting for one-fifth of global sales. The US is the world’s second largest national HVAC equipment market, accounting for 16 percent of global demand in 2013. The enormity of the US market reflects the immense size and advanced nature of the country’s economy. The US market, along with Western Europe and Japan, will see improved sales rates through 2018 as these areas continue to recover from subdued construction activity, nonresidential investment, and consumer spending associated with the 2009 global recession.

Heat pumps to be fastest growing type worldwide
Room air conditioners accounted for approximately one-quarter of global HVAC equipment sales in 2013. Minisplits will achieve the more rapid gains, as these units are generally more energy efficient than window units due to the common inclusion of inverter technology. Heat pumps are projected to register the fastest gains through 2018, arising from a low base. Heat pumps are valued for their energy efficiency and ability to provide both heating and cooling capabilities. Market penetration of these products is relatively low throughout the world, and demand often is dependent on government incentives (e.g., low interest loans, rebates, tax breaks) and low electricity rates (where electricity is the primary energy source).


  • INTRODUCTION
  • EXECUTIVE SUMMARY
    • Table WORLD HVAC EQUIPMENT DEMAND
  • MARKET ENVIRONMENT
    • General
    • World Economic Overview
      • Recent Historical Trends
      • World Economic Outlook
        • Table WORLD GROSS DOMESTIC PRODUCT BY REGION
    • Fixed Investment Trends
      • Table WORLD FIXED INVESTMENT BY REGION
    • Personal Income Trends
      • Table WORLD PER CAPITA GDP BY REGION
    • World Demographic Overview
      • Population
        • Table WORLD POPULATION BY REGION
      • Households
        • Table WORLD HOUSEHOLDS BY REGION
      • World Urbanization Patterns
        • Table WORLD URBAN POPULATION BY REGION
    • Building Construction Expenditures
      • Table WORLD BUILDING CONSTRUCTION EXPENDITURES BY REGION
      • Residential Construction Expenditures
        • Table WORLD RESIDENTIAL BUILDING CONSTRUCTION EXPENDITURES BY REGION
      • Nonresidential Construction Expenditures
        • Table WORLD NONRESIDENTIAL BUILDING CONSTRUCTION EXPENDITURES BY REGION
    • Climate & Cultural Factors
    • Pricing Patterns
    • Legal & Regulatory Issues
      • Montreal Protocol
      • Kyoto Protocol
      • Energy Efficiency
    • Technology & Product Innovation
  • OVERVIEW
    • General
    • Regional Overview
      • Demand
        • Table WORLD HVAC EQUIPMENT DEMAND BY REGION
        • Table CHART III-1 WORLD HVAC EQUIPMENT DEMAND BY REGION, 2013
        • Table CHART III-2 WORLD HVAC EQUIPMENT DEMAND BY REGION, 2003-2023
      • Production
        • Table WORLD HVAC EQUIPMENT SHIPMENTS BY REGION
        • Table CHART III-3 WORLD HVAC EQUIPMENT SHIPMENTS BY REGION, 2013
      • International Trade
        • Table WORLD HVAC EQUIPMENT NET EXPORTS BY REGION
    • Demand by Product
      • Table WORLD HVAC EQUIPMENT DEMAND BY PRODUCT
      • Table CHART III-4 WORLD HVAC EQUIPMENT DEMAND BY PRODUCT, 2013
      • Room Air Conditioners
        • Table WORLD ROOM AIR CONDITIONER DEMAND BY REGION
        • Table CHART III-5 WORLD ROOM AIR CONDITIONER DEMAND BY REGION, 2013
      • Unitary Air Conditioners
        • Table WORLD UNITARY AIR CONDITIONER DEMAND BY REGION
        • Table CHART III-6 WORLD UNITARY AIR CONDITIONER DEMAND BY REGION, 2013
      • Heat Pumps
        • Table WORLD HEAT PUMP DEMAND BY REGION
        • Table CHART III-7 WORLD HEAT PUMP DEMAND BY REGION, 2013
      • Boilers
        • Table WORLD BOILER DEMAND BY REGION
        • Table CHART III-8 WORLD BOILER DEMAND BY REGION, 2013
      • Warm Air Furnaces
        • Table WORLD WARM AIR FURNACE DEMAND BY REGION
        • Table CHART III-9 WORLD WARM AIR FURNACE DEMAND BY REGION, 2013
      • Other Heating & Cooling Equipment
        • Table WORLD OTHER HEATING & COOLING EQUIPMENT DEMAND BY REGION
        • Table CHART III-10 WORLD OTHER HEATING & COOLING EQUIPMENT DEMAND BY REGION, 2013
  • NORTH AMERICA
    • North America: General
    • North America: HVAC Equipment Supply & Demand
      • Table NORTH AMERICA: HVAC EQUIPMENT SUPPLY & DEMAND
    • North America: Demand by Type & Market
      • Table NORTH AMERICA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
      • Table CHART IV-1 NORTH AMERICA: HVAC EQUIPMENT DEMAND BY COUNTRY, 2013
    • United States
      • United States: General
      • United States: HVAC Equipment Supply & Demand
        • Table UNITED STATES: HVAC EQUIPMENT SUPPLY & DEMAND
      • United States: Demand by Type & Market
        • Table UNITED STATES: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
    • Canada
      • Canada: General
      • Canada: HVAC Equipment Supply & Demand
        • Table CANADA: HVAC EQUIPMENT SUPPLY & DEMAND
      • Canada: Demand by Type & Market
        • Table CANADA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
    • Mexico
      • Mexico: General
      • Mexico: HVAC Equipment Supply & Demand
        • Table MEXICO: HVAC EQUIPMENT SUPPLY & DEMAND
      • Mexico: Demand by Type & Market
        • Table MEXICO: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
  • WESTERN EUROPE
    • Western Europe: General
    • Western Europe: HVAC Equipment Supply & Demand
      • Table WESTERN EUROPE: HVAC EQUIPMENT SUPPLY & DEMAND
    • Western Europe: Demand by Type & Market
      • Table WESTERN EUROPE: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
      • Table CHART V-1 WESTERN EUROPE: HVAC EQUIPMENT DEMAND BY COUNTRY, 2013
    • France
      • France: General
      • France: HVAC Equipment Supply & Demand
        • Table FRANCE: HVAC EQUIPMENT SUPPLY & DEMAND
      • France: Demand by Type & Market
        • Table FRANCE: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
    • Germany
      • Germany: General
      • Germany: HVAC Equipment Supply & Demand
        • Table GERMANY: HVAC EQUIPMENT SUPPLY & DEMAND
      • Germany: Demand by Type & Market
        • Table GERMANY: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
    • Italy
      • Italy: General
      • Italy: HVAC Equipment Supply & Demand
        • Table ITALY: HVAC EQUIPMENT SUPPLY & DEMAND
      • Italy: Demand by Type & Market
        • Table ITALY: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
    • Spain
      • Spain: General
      • Spain: HVAC Equipment Supply & Demand
        • Table SPAIN: HVAC EQUIPMENT SUPPLY & DEMAND
      • Spain: Demand by Type & Market
        • Table SPAIN: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
    • United Kingdom
      • United Kingdom: General
      • United Kingdom: HVAC Equipment Supply & Demand
        • Table UNITED KINGDOM: HVAC EQUIPMENT SUPPLY & DEMAND
      • United Kingdom: Demand by Type & Market
        • Table UNITED KINGDOM: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
    • Other Western Europe
      • Other Western Europe: General
      • Other Western Europe: HVAC Equipment Supply & Demand
        • Table OTHER WESTERN EUROPE: HVAC EQUIPMENT SUPPLY & DEMAND
      • Other Western Europe: Demand by Type & Market
        • Table OTHER WESTERN EUROPE: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
  • ASIA/PACIFIC
    • Asia/Pacific: General
    • Asia/Pacific: HVAC Equipment Supply & Demand
      • Table ASIA/PACIFIC: HVAC EQUIPMENT SUPPLY & DEMAND
    • Asia/Pacific: Demand by Type & Market
      • Table ASIA/PACIFIC: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
      • Table CHART VI-1 ASIA/PACIFIC: HVAC EQUIPMENT DEMAND BY COUNTRY, 2013
    • Australia
      • Australia: General
      • Australia: HVAC Equipment Supply & Demand
        • Table AUSTRALIA: HVAC EQUIPMENT SUPPLY & DEMAND
      • Australia: Demand by Type & Market
        • Table AUSTRALIA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
    • China
      • China: General
      • China: HVAC Equipment Supply & Demand
        • Table CHINA: HVAC EQUIPMENT SUPPLY & DEMAND
      • China: Demand by Type & Market
        • Table CHINA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
    • India
      • India: General
      • India: HVAC Equipment Supply & Demand
        • Table INDIA: HVAC EQUIPMENT SUPPLY & DEMAND
      • India: Demand by Type & Market
        • Table INDIA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
    • Indonesia
      • Indonesia: General
      • Indonesia: HVAC Equipment Supply & Demand
        • Table INDONESIA: HVAC EQUIPMENT SUPPLY & DEMAND
      • Indonesia: Demand by Type & Market
        • Table INDONESIA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
    • Japan
      • Japan: General
      • Japan: HVAC Equipment Supply & Demand
        • Table JAPAN: HVAC EQUIPMENT SUPPLY & DEMAND
      • Japan: Demand by Type & Market
        • Table JAPAN: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
    • South Korea
      • South Korea: General
      • South Korea: HVAC Equipment Supply & Demand
        • Table SOUTH KOREA: HVAC EQUIPMENT SUPPLY & DEMAND
      • South Korea: Demand by Type & Market
        • Table SOUTH KOREA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
    • Other Asia/Pacific
      • Other Asia/Pacific: General
      • Other Asia/Pacific: HVAC Equipment Supply & Demand
        • Table OTHER ASIA/PACIFIC: HVAC EQUIPMENT SUPPLY & DEMAND
      • Other Asia/Pacific: Demand by Type & Market
        • Table OTHER ASIA/PACIFIC: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
  • OTHER REGIONS
    • Central & South America
      • Central & South America: General
      • Central & South America: HVAC Equipment Supply & Demand
        • Table CENTRAL & SOUTH AMERICA: HVAC EQUIPMENT SUPPLY & DEMAND
      • Central & South America: Demand by Type & Market
        • Table CENTRAL & SOUTH AMERICA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
      • Brazil
        • Table BRAZIL: HVAC EQUIPMENT SUPPLY & DEMAND
        • Table BRAZIL: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
      • Other Central & South America
        • Table OTHER CENTRAL & SOUTH AMERICA: HVAC EQUIPMENT SUPPLY & DEMAND
        • Table OTHER CENTRAL & SOUTH AMERICA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
    • Eastern Europe
      • Eastern Europe: General
      • Eastern Europe: HVAC Equipment Supply & Demand
        • Table EASTERN EUROPE: HVAC EQUIPMENT SUPPLY & DEMAND
      • Eastern Europe: Demand by Type & Market
        • Table EASTERN EUROPE: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
      • Poland
        • Table POLAND: HVAC EQUIPMENT SUPPLY & DEMAND
        • Table POLAND: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
      • Russia
        • Table RUSSIA: HVAC EQUIPMENT SUPPLY & DEMAND
        • Table RUSSIA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
      • Other Eastern Europe
        • Table OTHER EASTERN EUROPE: HVAC EQUIPMENT SUPPLY & DEMAND
        • Table OTHER EASTERN EUROPE: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
    • Africa/Mideast
      • Africa/Mideast: General
      • Africa/Mideast: HVAC Equipment Supply & Demand
        • Table AFRICA/MIDEAST: HVAC EQUIPMENT SUPPLY & DEMAND
      • Africa/Mideast: Demand by Type & Market
        • Table AFRICA/MIDEAST: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
      • Turkey
        • Table TURKEY: HVAC EQUIPMENT DEMAND SUPPLY & DEMAND
        • Table TURKEY: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
      • Other Africa/Mideast
        • Table OTHER AFRICA/MIDEAST: HVAC EQUIPMENT SUPPLY & DEMAND
        • Table OTHER AFRICA/MIDEAST: HVAC EQUIPMENT DEMAND BY TYPE & MARKET
  • INDUSTRY STRUCTURE
    • General
    • Industry Composition
      • Table WORLD HVAC EQUIPMENT SALES BY COMPANY, 2013
    • Market Share
      • Table CHART VIII-1 WORLD HVAC EQUIPMENT MARKET SHARE, 2013
    • Development & Manufacturing
    • Marketing
    • Distribution
    • Mergers & Acquisitions
      • Table SELECTED ACQUISITIONS & DIVESTITURES
    • Cooperative Agreements
      • Table SELECTED COOPERATIVE AGREEMENTS
    • Company Profiles
      • AFG Arbonia-Forster-Holding AG
      • Ariston Thermo Group
      • Blue Star Limited
      • Bosch (Robert) GmbH
      • Daikin Industries Limited
      • Danfoss A/S
      • Dectron Internationale Incorporated
      • De'Longhi SpA
      • DeLclima SpA
      • Dunham-Bush Holding Bhd
      • Elco Holdings Limited
      • Electrolux AB
      • Emerson Electric Company
      • GD Midea Holding Company Limited
      • Gree Electric Appliances Incorporated
      • Haier Group Company
      • Hitachi Limited
      • Ingersoll-Rand plc
      • Jiangsu Chunlan Refrigerating Equipment Stock Company Limited
      • Johnson Controls Incorporated
      • Lennox International Incorporated
      • LG Electronics Incorporated
      • Mitsubishi Electric Corporation
      • Nortek Incorporated
      • Paloma Company Limited
      • Panasonic Corporation
      • Samsung Electronics Company Limited
      • Sharp Corporation
      • United Technologies Corporation
      • Voltas Limited
      • Whirlpool Corporation
    • Additional Companies

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