As the world economy slowly rebuilds, the heating, ventilation, and air-conditioning (HVAC) equipment industry will continue to grow among both residential and business establishments.
The total HVAC equipment market was $ billion in 2014 and will continue to grow through the forecast period generating revenue of $ billion by 2020.
The initial downtrend witnessed as an aftermath of the recession in North America between 2008 and 2010 gradually gave way to a buoyant upward trend as a result of steady economic recovery and revival of the construction market.
Increased concern over performance, energy optimization, and end-user awareness has provided the necessary boost to demand for high efficiency HVAC equipment in an otherwise cost-conscious and mature market.
Overall, the market exhibits a moderate degree of technical change, and its highly competitive structure will continue to exert significant pressure on price, with customers gravitating towards low priced options more often than desired.
The majority of demand is expected to come from the commercial sector. Additionally, the Asia-Pacific (APAC) regions is expected to drive growth in the industry for at least years to come.
The unitary market segment is the largest market; however, it is expected to lose share to the ductless systems segment over the forecast period. The ductless systems segment in a growing market in APAC and Europe, but is picking up in North America.
Tier I companies are rationalizing their portfolios by acquiring profitable segments of other companies. Hence, strategic acquisitions and growing interest of the buyers will be reflected over the forecast period.
About this report
As the global economy slowly rebuilds, the heating, ventilation, and air-conditioning (HVAC) equipment market will continue to grow among both residential and business establishments. This research service presents analysis of the global HVAC equipment market by dividing it into 5 segments: unitary equipment, applied equipment, chiller equipment, heat pumps, and ductless systems. Globally, unitary equipment is the largest segment, and Asia-Pacific regions depict the largest regional growth. Included in this research are discussions of market drivers and restraints, the competitive landscape, regional dynamics, and market trends. The base year used for analysis is 2014 and the forecast period is from 2015 to 2020.
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