HVAC Equipment Market in China 2015-2019
About HVAC Equipment
Heating, ventilation, and air conditioning equipment, more commonly known as HVAC equipment, provides conditioned air to occupants inside a building by creating a comfortable and favorable environment. Conditioned air is clean and odor-free with its temperature, humidity, and movement controlled within a certain comfort level.
Technavio's analysts forecast the HVAC equipment market in China to grow at a CAGR of 8.51% over the period 2014-2019.
Covered in this Report
The report includes the present scenario and the growth prospects of the HVAC equipment market in China for the period 2015-2019. The market can be segmented into three based on product type: cooling equipment, heating equipment, and ventilation equipment.
Technavio's report, HVAC Equipment Market in China 2015-2019, 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 in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – HVAC Equipment Market in China 2015-2019
Technavio recognizes the following companies as the key players in the HVAC Equipment Market in China: Carrier, Daikin Industries, Ingersoll Rand and LG
Other Prominent Vendors in the market are: AB Electrolux, GD Midea, Gree Electric Appliances, Haier, Lennox International, Nortek, Paloma Industries, Samsung and Siemens
Commenting on the report, an analyst from Technavio’s team said: “The HVAC equipment market in China is shifting toward green technology and the use of smart solutions. The green initiative has been taken up by different countries to promote clean energy. With the advent of hybrid systems and non-polluting refrigerants, HVAC vendors and end-users are shifting toward green technology. In addition, HVAC vendors are developing new heating and cooling equipment compatible with eco-friendly refrigerants. To align themselves with green technology, companies are manufacturing HVAC systems that meet and exceed guidelines for ENERGY STAR ratings and Energy Guide labels. Some of the major limitations for the growth of green HVAC are regulations, public awareness, and uneven demand.”
According to the report, end-users prefer using energy-efficient HVAC equipment to reduce their operating expenses; HVAC systems account for 60%-70% of the energy cost of a building. Thus, this impulse for energy saving has been driving consumers and businesses to buy HVAC equipment. In addition, the international fossil fuel market is always under pressure because there is hardly any reserve capacity. This makes the fossil fuel prices sensitive to energy demand. Thus, reduced energy demand will result in reduced fossil fuel prices. Since about 60% of China's electricity is produced from fossil fuels, it will lead to reduced electricity prices. Thus, the reduced electricity prices are expected to encourage people to opt for the latest technology HVAC equipment.
Further, the report states that many HVAC market vendors are expected to find it difficult to comply with the norms as they require intensive restructuring of their business models, which is expected to lead to heavy investment in the market during the forecast period.
Carrier, Daikin Industries, Ingersoll Rand, LG, AB Electrolux, GD Midea, Gree Electric Appliances, Haier, Lennox International, Nortek, Paloma Industries, Samsung, Siemens