HVAC System Market by Heating Equipment (Heat Pumps, Furnaces), Ventilation Equipment (Humidifiers, Dehumidifiers), Cooling Type (VRF Systems, Unitary Air Conditioners), Implementation Type, Application, and Geography - Global Forecast to 2023

HVAC System Market by Heating Equipment (Heat Pumps, Furnaces), Ventilation Equipment (Humidifiers, Dehumidifiers), Cooling Type (VRF Systems, Unitary Air Conditioners), Implementation Type, Application, and Geography - Global Forecast to 2023

“HVAC system market is expected to grow at a significant CAGR between 2018 and 2023”
The HVAC system market was valued at USD 181.00 billion in 2018 and is expected to reach USD 251.60 billion by 2023, at a CAGR of 6.80% between 2018 and 2023. Major factors driving the growth of the HVAC system market include increasing demand for HVAC systems for reducing energy consumption, extreme weather conditions, government tax credit and rebate programs, and growing demand for HVAC systems to upgrade old systems. However, complexities in HVAC retrofit pose a challenge to the players in the market.

“Market for VRF systems of cooling equipment is expected to grow at the highest CAGR between 2018 and 2023”
The VRF systems of cooling equipment is expected to grow at the highest CAGR between 2018 and 2023. VRF systems are known for their high-energy performance, which improves the energy efficiency in residential and commercial buildings. VRF systems can save up to 40% energy as compared to the traditional air conditioning systems. It consist of a network of zones, and these zones are heated and cooled only when they are in use. The system is thus designed to provide exactly the amount of cooling needed for the current conditions.

“Market for air purifiers of ventilation equipment is expected to grow at the highest CAGR between 2018 and 2023”
The demand for air purifiers is growing because of the degrading air quality. Furthermore, people are more exposed to a high risk of contracting respiratory and other cardiovascular diseases because of rising air pollution. The increase in the number of health issues regarding air contamination among people is expected to drive the demand for air purifiers globally.

“APAC to hold the largest share of the global HVAC system market during the forecast period”
APAC is expected to hold the largest share of the HVAC system market between 2018 and 2023. The growing urbanization and increasing population led to the increase in residential and commercial constructional activities. Also, due to change in climatic conditions, the adoption of HVAC systems has increased in APAC. The fast-growing economy and rapid industrialization in China have resulted in disastrous effects on the atmosphere, and thus the focus of the Government of China has shifted on reducing pollution and using energy-efficient technologies and devices. According to research by the Health Effects Institute (US), air pollution in China resulted in the death of more than 1.1 million people in 2015. Thus, the country has strict norms with regard to energy efficiency and green buildings. The strict regulations result in the use of high-quality and advanced HVAC equipment, resulting in the growth of the HVAC industry in China

Breakdown of the profiles of primary participants for the report has been given below:
By Company Type: Tier 1 = 51%, Tier 2 = 28%, and Tier 3 = 21%
By Designation: C-Level Executives = 38%, Directors = 43%, and Others = 19%
By Region: North America = 38%, Europe= 29%, APAC = 27%, and RoW = 6%

Key players operating in the HVAC system market are Daikin (Japan), United Technologies (US), Johnson Controls (US), Ingersoll-Rand (Ireland), LG Electronics (South Korea), Electrolux (Sweden), Emerson (US), Honeywell (US), Lennox (US), and Nortek (US)

Research Coverage
The research report analyzes the HVAC system market on the basis of heating equipment, ventilation equipment, cooling equipment, implementation type, application, and geography. Based on heating equipment, the HVAC system market has been classified into heat pumps, furnaces, boilers, and unitary heaters. The market has been segmented on the basis of ventilation equipment into humidifiers, dehumidifiers, air purifiers, air filters, ventilation fans, and air handling units. Based on cooling equipment, the market has been segmented into room air conditioners, unitary air conditioners, chillers, coolers, cooling towers, and VRF systems. Based on implementation type, the market has been segmented into new construction and retrofit. Based on application, the HVAC system market has been classified into residential, commercial and industrial. The report covers the market segmented into 4 major regions—North America, Europe, APAC, and RoW.

Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast of the market based on heating equipment, ventilation equipment, cooling equipment, implementation type, application, and geography have been conducted to give an overall view of the HVAC system market.
Major drivers, restraints, opportunities, and challenges pertaining to the HVAC system market have been detailed in this report.
The report includes a detailed competitive landscape, along with the profiles of key market players.


  • INTRODUCTION
    • OBJECTIVES OF THE STUDY
    • DEFINITION
    • SCOPE OF THE STUDY
      • MARKETS COVERED
      • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY & PRIMARY RESEARCH
      • SECONDARY DATA
      • PRIMARY DATA
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • MARKET BREAKDOWN & DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
  • EXECUTIVE SUMMARY
    • Table HVAC SYSTEM MARKET, BY EQUIPMENT, 2015-2023 (MILLION UNITS)
  • PREMIUM INSIGHTS
    • ATTRACTIVE GROWTH OPPORTUNITIES IN THE HVAC SYSTEM MARKET
    • HVAC SYSTEM MARKET, BY EQUIPMENT TYPE
    • HVAC SYSTEM MARKET, BY APPLICATION
    • HVAC SYSTEM MARKET, BY IMPLEMENTATION TYPE
    • HVAC SYSTEM MARKET IN APAC, BY COOLING EQUIPMENT & COUNTRY
    • HVAC SYSTEM MARKET, BY GEOGRAPHY
  • MARKET OVERVIEW
    • INTRODUCTION
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGE
  • INDUSTRY TRENDS
    • INTRODUCTION
    • VALUE CHAIN ANALYSIS
    • SOFTWARE & SERVICES IN HVAC SYSTEMS
      • SOFTWARE
        • Table DIFFERENT FUNCTIONALITIES OF HVAC SOFTWARE
        • Table LIST OF DIFFERENT TYPES OF HVAC SOFTWARE
      • SERVICES
  • HVAC SYSTEM MARKET, BY HEATING EQUIPMENT
    • INTRODUCTION
      • Table HVAC SYSTEM MARKET FOR HEATING EQUIPMENT, BY EQUIPMENT TYPE, 2015-2023 (USD BILLION)
      • Table HVAC SYSTEM MARKET FOR HEATING EQUIPMENT, BY REGION, 2015-2023 (USD BILLION)
      • Table HVAC SYSTEM MARKET FOR HEATING EQUIPMENT, BY APPLICATION, 2015-2023 (USD BILLION)
    • HEAT PUMPS
      • AIR-TO-AIR HEAT PUMPS
      • AIR-TO-WATER HEAT PUMPS
      • WATER-TO-WATER HEAT PUMPS
        • Table HEATING EQUIPMENT MARKET FOR HEAT PUMPS, BY REGION, 2015-2023 (USD BILLION)
        • Table HEATING EQUIPMENT MARKET FOR HEAT PUMPS, BY APPLICATION, 2015-2023 (USD BILLION)
    • FURNACES
      • Table AFUE RATINGS AND FURNACE EFFICIENCY
      • OIL FURNACES
      • GAS FURNACES
      • ELECTRIC FURNACES
        • Table HEATING EQUIPMENT MARKET FOR FURNACES, BY REGION, 2015-2023 (USD BILLION)
        • Table HEATING EQUIPMENT MARKET FOR FURNACES, BY APPLICATION, 2015-2023 (USD BILLION)
    • BOILERS
      • Table TYPICAL SEASONAL EFFICIENCY OF BOILER
      • STEAM BOILERS
      • HOT WATER BOILERS
        • Table HEATING EQUIPMENT MARKET FOR BOILERS, BY REGION, 2015-2023 (USD BILLION)
        • Table HEATING EQUIPMENT MARKET FOR BOILERS, BY APPLICATION, 2015-2023 (USD BILLION)
    • UNITARY HEATERS
      • GAS UNIT HEATERS
      • OIL-FIRED UNIT HEATERS
      • ELECTRIC UNIT HEATERS
        • Table HEATING EQUIPMENT MARKET FOR UNITARY HEATERS, BY REGION, 2015-2023 (USD BILLION)
        • Table HEATING EQUIPMENT MARKET FOR UNITARY HEATERS, BY APPLICATION, 2015-2023 (USD BILLION)
  • HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT
    • INTRODUCTION
      • Table HVAC SYSTEM MARKET FOR VENTILATION EQUIPMENT, BY EQUIPMENT TYPE, 2015-2023 (USD BILLION)
      • Table HVAC SYSTEM MARKET FOR VENTILATION EQUIPMENT, BY REGION, 2015-2023 (USD BILLION)
      • Table HVAC SYSTEM MARKET FOR VENTILATION EQUIPMENT, BY APPLICATION, 2015-2023 (USD BILLION)
    • HUMIDIFIERS
      • WARM-MIST HUMIDIFIERS
      • ULTRASONIC HUMIDIFIERS
      • COOL-MIST HUMIDIFIERS
        • Table VENTILATION EQUIPMENT MARKET FOR HUMIDIFIERS, BY REGION, 2015-2023 (USD MILLION)
        • Table HVAC SYSTEM MARKET FOR HUMIDIFIERS, BY APPLICATION, 2015-2023 (USD MILLION)
    • DEHUMIDIFIERS
      • REFRIGERATION DEHUMIDIFIERS
      • ABSORPTION DEHUMIDIFIERS
        • Table VENTILATION EQUIPMENT MARKET FOR DEHUMIDIFIERS, BY REGION, 2015-2023 (USD MILLION)
        • Table VENTILATION EQUIPMENT MARKET FOR DEHUMIDIFIERS, BY APPLICATION, 2015-2023 (USD MILLION)
    • AIR PURIFIERS
      • HEPA AIR PURIFIERS
      • ACTIVATED CARBON AIR PURIFIERS
      • ELECTROSTATIC AIR PURIFIERS
      • IONIC AIR PURIFIERS
        • Table VENTILATION EQUIPMENT MARKET FOR AIR PURIFIERS, BY REGION, 2015-2023 (USD MILLION)
        • Table VENTILATION EQUIPMENT MARKET FOR AIR PURIFIERS, BY APPLICATION, 2015-2023 (USD MILLION)
    • AIR FILTERS
      • Table VENTILATION EQUIPMENT MARKET FOR AIR FILTERS, BY REGION, 2015-2023 (USD BILLION)
      • Table HVAC SYSTEM MARKET FOR AIR FILTERS, BY APPLICATION, 2015-2023 (USD BILLION)
    • VENTILATION FANS
      • CROSSFLOW FANS
      • AXIAL FANS
      • CENTRIFUGAL FANS
      • DOMESTIC FANS
      • RANGE HOOD FANS
      • POWER ROOF FANS
        • Table VENTILATION EQUIPMENT MARKET FOR VENTILATION FANS, BY REGION, 2015-2023 (USD MILLION)
        • Table VENTILATION EQUIPMENT MARKET FOR VENTILATION FAN, BY APPLICATION, 2015-2023 (USD MILLION)
    • AIR HANDLING UNITS
      • Table VENTILATION EQUIPMENT MARKET FOR AIR HANDLING UNITS, BY REGION, 2015-2023 (USD BILLION)
      • Table VENTILATION EQUIPMENT MARKET FOR AIR HANDLING UNITS, BY APPLICATION, 2015-2023 (USD BILLION)
  • HVAC SYSTEM MARKET, BY COOLING EQUIPMENT
    • INTRODUCTION
      • Table HVAC SYSTEM MARKET FOR COOLING EQUIPMENT, BY EQUIPMENT TYPE, 2015-2023 (USD BILLION)
      • Table HVAC SYSTEM MARKET FOR COOLING EQUIPMENT, BY APPLICATION, 2015-2023 (USD BILLION)
      • Table HVAC SYSTEM MARKET FOR COOLING EQUIPMENT, BY REGION, 2015-2023 (USD BILLION)
    • ROOM AIR CONDITIONERS
      • Table COOLING EQUIPMENT MARKET FOR ROOM AIR CONDITIONERS, BY APPLICATION, 2015-2023 (USD BILLION)
      • Table COOLING EQUIPMENT MARKET FOR ROOM AIR CONDITIONERS, BY REGION, 2015-2023 (USD BILLION)
    • UNITARY AIR CONDITIONERS
      • Table AHRI STANDARDS RELATED TO UNITARY AIR CONDITIONERS
      • SPLIT AIR CONDITIONERS
      • PACKAGED AIR CONDITIONERS
        • Table HVAC SYSTEM MARKET FOR UNITARY AIR CONDITIONERS, BY APPLICATION, 2015-2023 (USD BILLION)
        • Table COOLING EQUIPMENT MARKET FOR UNITARY AIR CONDITIONERS, BY REGION, 2015-2023 (USD BILLION)
    • CHILLERS
      • SCROLL CHILLERS
      • SCREW CHILLERS
      • CENTRIFUGAL CHILLERS
      • RECIPROCATING CHILLERS
      • ABSORPTION CHILLERS
        • Table COOLING EQUIPMENT MARKET FOR CHILLERS, BY APPLICATION, 2015-2023 (USD BILLION)
        • Table COOLING EQUIPMENT MARKET FOR CHILLERS, BY REGION, 2015-2023 (USD BILLION)
    • COOLERS
      • DUCTED COOLERS
      • WINDOW COOLERS
        • Table COOLING EQUIPMENT MARKET FOR COOLERS, BY APPLICATION, 2015-2023 (USD BILLION)
        • Table COOLING EQUIPMENT MARKET FOR COOLERS, BY REGION, 2015-2023 (USD BILLION)
    • COOLING TOWERS
      • EVAPORATIVE COOLING TOWERS
      • DRY COOLING TOWERS
      • HYBRID COOLING TOWERS
        • Table COOLING EQUIPMENT MARKET FOR COOLING TOWERS, BY APPLICATION, 2015-2023 (USD MILLION)
        • Table COOLING EQUIPMENT MARKET FOR COOLING TOWERS, BY REGION, 2015-2023 (USD MILLION)
    • VRF SYSTEMS
      • Table COOLING EQUIPMENT MARKET FOR VRF SYSTEMS, BY APPLICATION, 2015-2023 (USD BILLION)
      • Table COOLING EQUIPMENT MARKET FOR VRF SYSTEMS, BY REGION, 2015-2023 (USD BILLION)
  • HVAC SYSTEM MARKET, BY IMPLEMENTATION TYPE
    • INTRODUCTION
      • Table HVAC SYSTEM MARKET, BY IMPLEMENTATION, 2015-2023 (USD BILLION)
    • NEW CONSTRUCTION
    • RETROFIT
  • HVAC SYSTEM MARKET, BY APPLICATION
    • INTRODUCTION
      • Table INDUSTRY-STANDARD RATING PARAMETERS RELATED TO HVAC SYSTEMS
      • Table HVAC SYSTEM MARKET, BY APPLICATION, 2015-2023 (USD BILLION)
    • RESIDENTIAL
    • COMMERCIAL
      • Table TEMPERATURE VARIATION IN COMMERCIAL BUILDINGS
      • Table DIFFERENT CLIMATE ZONES FOR CITIES IN US
      • Table REFERENCE BUILDING WITH DIFFERENT AREAS
      • Table HVAC SYSTEMS CLASSIFICATION ON THE REFERENCE BUILDING
      • Table HVAC SYSTEM MARKET, BY COMMERCIAL APPLICATION, 2015-2023 (USD BILLION)
      • HEALTHCARE
      • EDUCATION
      • GOVERNMENT
      • OFFICE
      • AIRPORT
      • RETAIL
    • INDUSTRIAL
      • Table TEMPERATURE VARIATIONS IN INDUSTRIAL BUILDINGS
  • GEOGRAPHIC ANALYSIS
    • INTRODUCTION
      • Table HVAC SYSTEM MARKET, BY REGION, 2015-2023 (USD BILLION)
    • NORTH AMERICA
      • Table LIST OF EVENTS TO BE HELD IN NORTH AMERICA IN 2018 AND 2019
      • Table HVAC SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY, 2015-2023 (USD BILLION)
      • Table HVAC SYSTEM MARKET FOR HEATING EQUIPMENT IN NORTH AMERICA, BY EQUIPMENT TYPE, 2015-2023 (USD BILLION)
      • Table HVAC SYSTEM MARKET FOR VENTILATION EQUIPMENT IN NORTH AMERICA, BY EQUIPMENT TYPE, 2015-2023 (USD BILLION)
      • Table HVAC SYSTEM MARKET FOR COOLING EQUIPMENT IN NORTH AMERICA, BY EQUIPMENT TYPE, 2015-2023 (USD BILLION)
      • US
      • CANADA
      • MEXICO
    • EUROPE
      • Table TARGET VALUES OF FUEL INPUT FROM 2017 TO 2020
      • Table LIST OF EVENTS TO BE HELD IN EUROPE IN 2018 AND 2019
      • Table HVAC SYSTEM MARKET IN EUROPE, BY COUNTRY, 2015-2023 (USD BILLION)
      • Table HVAC SYSTEM MARKET FOR HEATING EQUIPMENT IN EUROPE, BY EQUIPMENT TYPE, 2015-2023 (USD BILLION)
      • Table HVAC SYSTEM MARKET FOR VENTILATION EQUIPMENT IN EUROPE, BY EQUIPMENT TYPE, 2015-2023 (USD BILLION)
      • Table HVAC SYSTEM MARKET FOR COOLING EQUIPMENT IN EUROPE, BY EQUIPMENT TYPE, 2015-2023 (USD BILLION)
      • UK
      • GERMANY
      • FRANCE
      • REST OF EUROPE
    • APAC
      • Table LIST OF EVENTS TO BE HELD IN APAC IN 2018 AND 2019
      • Table HVAC SYSTEM MARKET IN APAC, BY COUNTRY, 2015-2023 (USD BILLION)
      • Table HVAC SYSTEM MARKET FOR HEATING EQUIPMENT IN APAC, BY EQUIPMENT TYPE, 2015-2023 (USD BILLION)
      • Table HVAC SYSTEM MARKET FOR VENTILATION EQUIPMENT IN APAC, BY EQUIPMENT TYPE, 2015-2023 (USD BILLION)
      • Table HVAC SYSTEM MARKET FOR COOLING EQUIPMENT IN APAC, BY EQUIPMENT TYPE, 2015-2023 (USD BILLION)
      • CHINA
      • JAPAN
      • INDIA
      • REST OF APAC
    • ROW
      • Table LIST OF EVENTS TO BE HELD IN ROW IN 2018 AND 2019
      • Table HVAC SYSTEM MARKET IN ROW, BY REGION, 2015-2023 (USD BILLION)
      • Table HVAC SYSTEM MARKET FOR HEATING EQUIPMENT IN ROW, BY EQUIPMENT TYPE, 2015-2023 (USD BILLION)
      • Table HVAC SYSTEM MARKET FOR VENTILATION EQUIPMENT IN ROW, BY EQUIPMENT TYPE, 2015-2023 (USD MILLION)
      • Table HVAC SYSTEM MARKET FOR COOLING EQUIPMENT IN ROW, BY EQUIPMENT TYPE, 2015-2023 (USD BILLION)
      • SOUTH AMERICA
      • MIDDLE EAST
      • AFRICA
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • MARKET RANKING ANALYSIS: HVAC SYSTEM MARKET
      • Table RANKING OF KEY PLAYERS IN HVAC SYSTEM MARKET, 2017
    • COMPETITIVE SITUATION & TRENDS
      • AGREEMENTS, MERGERS, JOINT VENTURES & PARTNERSHIPS
      • PRODUCT LAUNCHES & DEVELOPMENTS
      • EXPANSIONS
      • ACQUISITIONS
  • COMPANY PROFILES
    • INTRODUCTION
    • KEY PLAYERS
      • DAIKIN
      • INGERSOLL-RAND
      • JOHNSON CONTROLS
      • LG ELECTRONICS
      • UNITED TECHNOLOGIES
      • ELECTROLUX
      • EMERSON
      • HONEYWELL
      • LENNOX
      • NORTEK
    • OTHER KEY PLAYERS
      • MITSUBISHI ELECTRIC
      • PANASONIC
      • QINGDAO HAIER
      • SAMSUNG ELECTRONICS
      • WHIRLPOOL
      • MIDEA
      • GREE
      • FUJITSU
      • HITACHI
      • DANFOSS
  • APPENDIX
    • INSIGHTS OF INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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