HVAC Equipment Market In APAC 2015-2019
About HVAC Equipment
Heating, ventilation, and air conditioning equipment, more commonly known as HVAC equipment, provides conditioned air inside a building, creating a comfortable and favorable environment. Conditioned air is clean and odor-free air with its temperature, humidity, and movement controlled within a certain comfort level.The basic components of an HVAC system consist of:
Technavio Announces the Publication of its Research Report – HVAC Equipment Market in APAC 2015-2019
Technavio recognizes the following companies as the key players in the HVAC Equipment Market in APAC: Carrier, Daikin Industries, Hitachi and LG Electronics
Other Prominent Vendors in the market are: AB Electrolux, GD Midea, Gree Electric Appliances, Haier, Ingersoll Rand, Johnson Control, Lennox International, Nortek, Paloma Industries, Samsung and Siemens
Commenting on the report, an analyst from Technavio’s team said: “The HVAC equipment market in APAC is shifting toward green technology and the use of smart solutions. With the advent of hybrid systems and non-polluting refrigerants such as HFC, HVAC vendors and end-users are shifting toward green technology. HVAC vendors are developing new heating and cooling equipment, which is compatible with the eco-friendly refrigerants such as R32. Therefore, companies are manufacturing HVAC systems that meet and exceed guidelines for ENERGY STAR ratings and Energy Guide labels to align themselves with green technology. Hence, many countries are taking the green initiative to promote clean energy.”
According to the report, the demand for HVAC equipment is directly related to affordability. Income levels are increasing rapidly in APAC enabling people to afford expensive HVAC equipment. Developing countries such as China, India, Indonesia, and South Korea are enjoying an era of enormous economic development, coupled with rapid industrialization and urbanization. The exhibit below gives a pictorial representation of the increasing trend in the annual per capita disposable income levels of both urban and rural households.
Further, the report states that many residential users in developing countries in the region are finding it difficult to adopt domestic HVAC equipment such as ACs, household furnaces, and other HVAC equipment.
Carrier, Daikin Industries, Hitachi, LG Electronics, AB Electrolux, GD Midea, Gree Electric Appliances, Haier, Ingersoll Rand, Johnson Control, Lennox International, Nortek, Paloma Industries, Samsung, Siemens