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Global HVAC Market 2017-2021

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Market outline
      • Table Benefits of HVAC systems
      • Table Global HVAC equipment market by geography 2016-2021 ($ billions)
  • Market landscape
    • Market overview
      • Table Market overview
    • Market size and forecast
      • Table Global HVAC market 2016-2021 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by equipment and services
    • Market overview
      • Table Global HVAC market by equipment and services 2016 and 2021 (%)
    • Global HVAC market by HVAC equipment
      • Table Global HVAC market by HVAC equipment 2016-2021 ($ billions)
      • Table Global HVAC market by HVAC equipment: Product segmentation 2016-2021 ($ billions)
      • Table Global HVAC market by air conditioning equipment, 2016-2021 ($ billions)
      • Table Global HVAC market by heating equipment 2016-2021 ($ billions)
      • Table Growth rate of heating pump units sold in Europe 2011-2015 (%)
      • Table Global HVAC market by ventilation equipment 2016-2021 ($ billions)
    • Global HVAC market by HVAC services
      • Table Global HVAC market by HVAC services 2016-2021 ($ billions)
  • Market segmentation by end-user
    • Market overview
      • Table Global HVAC market by end-users 2016 and 2021 (%)
    • Global HVAC market by non-residential end-user
      • Table Global HVAC market by non-residential end-user 2016-2021 ($ billions)
    • Global HVAC market by residential end-user
      • Table Global HVAC market by residential end-user 2016-2021 ($ billions)
      • Table US privately owned housing units under construction (thousands of units)
  • Geographical segmentation
    • Market overview
      • Table Global HVAC market by geography 2016 and 2021 (%)
    • HVAC market in APAC
      • Table HVAC market in APAC 2016-2021 ($ billions)
      • Table Growth rate of floor space of buildings under construction 2010-2015 (%)
    • HVAC market in EMEA
      • Table HVAC market in EMEA 2016-2021 ($ billions)
    • HVAC market in Americas
      • Table HVAC market in Americas 2016-2021 ($ billions)
      • Table 2016 edition of ASHRAE-Standard 15
      • Table 2016 edition of ASHRAE-Standard 34
      • Table New single family houses built for sale, presence of air conditioning 2010-2015 (%)
      • Table Housing starts in Canada 2013-2016 (thousand units)
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Global VRF system market 2016-2021 ($ billions)
    • Market challenges
      • Table Growth rate of skilled manpower in US HVAC industry 2012-2022 (%)
      • Table Annual growth rate of China's GDP 2008-2015 (%)
  • Market trends
    • Rise in incorporation of building automation systems
    • Increasing use of renewable energy sources for residential heating
    • Growing adoption of smartphones for controlling HVAC devices
    • Technological advancements in VRF
    • Net zero buildings in India
      • Table Building materials used for energy conservation
  • Vendor landscape
    • Competitive scenario
    • Geographical presence
      • Table Geographical presence of the key vendors
    • Other prominent vendors
      • Table List of other prominent vendors in HVAC market
  • Key vendor analysis
    • Carrier Corporation
    • DAIKIN INDUSTRIES
      • Table Products and services by DAIKIN INDUSTRIES
    • Ingersoll Rand
      • Table Product offerings by brands
      • Table HVAC product offerings by Trane
    • Johnson Controls
      • Table Product offerings by Johnson Controls
      • Table HVAC equipment offered by Johnson Controls
    • LG Electronics
      • Table Product offerings by LG Electronics
      • Table HVAC systems by LG Electronics
  • Appendix
    • List of abbreviations
  • Explore Technavio

Global HVAC Market 2017-2021

About HVAC

HVAC systems are used to ventilate and filter the air in residential and non-residential spaces to maintain thermal balance. Various components used in these systems are heat exchangers, pumps, and fans. These systems control and regulate the temperature and humidity levels. The type of HVAC system required is determined by the indoor and outdoor air quality. One of the key factors that is driving the demand for HVAC systems is the rapid growth of the construction sector and real estate markets worldwide. Most of the newly constructed, modern buildings have been employing energy-efficient HVAC systems. In addition, urbanization and industrialization have been on the rise in developing countries. This has resulted in an increase in the number of factories, manufacturing units, commercial buildings, and residential complexes that have been using HVAC systems.

Technavio’s analysts forecast the global HVAC market to grow at a CAGR of 5.24% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global HVAC market for 2017-2021. To calculate the market size, the report includes the market segmentation based on HVAC equipment and services, end-users (residential and non-residential), and geography.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global HVAC Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of operating in this market.

Key vendors
  • Carrier Corporation
  • DAIKIN INDUSTRIES
  • Ingersoll Rand
  • Johnson Controls
  • LG Electronics
Other prominent vendors
  • ELECTROLUX
  • Bosch Thermotechnik
  • FUJITSU
  • Midea Group
  • GREE ELECTRIC APPLIANCES
  • Haier
  • Hitachi
  • Lennox International
  • Nortek
  • SAMSUNG
Market driver
  • Rising preference for condensing boilers.
  • For a full, detailed list, view our report
Market challenge
  • High market competition.
  • For a full, detailed list, view our report
Market trend
  • Rise in incorporation of building automation systems.
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are in this market space?
  • What are the market opportunities and threats faced by the key vendors??
  • What are the strengths and weaknesses of the key vendors??


Press Release

Technavio Announces the Publication of its Research Report – Global HVAC Market 2017-2021

Technavio recognizes the following companies as the key players in the global HVAC market: Carrier Corporation, DAIKIN INDUSTRIES, Ingersoll Rand, Johnson Controls, and LG Electronics.

Other Prominent Vendors in the market are: ELECTROLUX, Bosch Thermotechnik, FUJITSU, Midea Group, GREE ELECTRIC APPLIANCES, Haier, Hitachi, Lennox International, Nortek, and SAMSUNG.

Commenting on the report, an analyst from Technavio’s team said: “One trend in market is rise in incorporation of building automation systems. BASs, which control and monitor HVAC and other facilities of a given building, are embedded with computing and digital communication tools that allow these systems to enhance energy efficiency. The number of integrated BAS installations has increased owing to the rise in the number of construction projects and building retrofits. The BAS technology has advanced features owing to improvements in the sensor technology, availability of cheaper and faster communication systems, and improved user interfaces. Manufacturers are implementing open protocols, including the Internet protocol, to provide improved control solutions. BAS is becoming a common technology for enhancing the interaction and operability among HVAC, lighting, fire, and security control units of a building. The energy efficiency ensured by the ever-improving BAS technology enables building owners to enhance facility management with integrated user-friendly HVAC solutions. The integration of HVAC controls with access control technologies is one such example.”

According to the report, one driver in market is growing construction sector. The construction sector plays a major role in driving the demand for HVAC systems. With the increase in construction of commercial and residential buildings, the demand for HVAC equipment and services has been increasing, thereby, driving the growth of the global HVAC market. The construction industry is expanding significantly across the globe. There are a lot of factors leading to the expansion of the construction industry. APAC is the major market for construction and is expected to grow at the highest rate during the forecast period. The primary reason for the growth is the ongoing developments in the infrastructure and real estate sectors in the region. An increase in the trend of green buildings owing to the growing environmental concerns will drive the demand for HVAC systems. Office buildings and high-rise buildings adopt HVAC systems for maintaining the temperature within the building premises. Similarly, residential use of HVAC systems is on the rise, particularly in hot regions such as APAC and the Middle East. Design enhancements in housing constructions and increase in the number of building permits are fueling the increase in demand for ACs.

Further, the report states that one challenge in market is high market competition. The presence of many regional and international players has increased market competitiveness. Many international players are unable to retain their foothold in the market owing to lower cost offerings of HVAC components and parts by regional vendors. Some HVAC vendors in APAC sell components and parts at subsidized rates, reducing sales of high-quality premium products provided by international players. This affects the pricing strategy, R&D investments, and brand image of established international players. The competition in the market has increased due to joint ventures and strategic alliances to enhance energy management and automation. In 2015, Hitachi signed an agreement to form a global appliances joint venture with Johnson Controls, which gave the former a majority stake in the HVAC market. As air conditioning systems are key components of building solutions, this partnership helped both companies innovate and deliver high-quality HVAC solutions to their consumers.

Companies Mentioned

Carrier Corporation, DAIKIN INDUSTRIES, Ingersoll Rand, Johnson Controls, LG Electronics, ELECTROLUX, Bosch Thermotechnik, FUJITSU, Midea Group, GREE ELECTRIC APPLIANCES, Haier, Hitachi, Lennox International, Nortek, and SAMSUNG.

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