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[ 英語タイトル ] 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


Product Code : MNMSE00109726
Survey : MarketsandMarkets
Publish On : February, 2021
Category : Semiconductor and Electronics
Study Area : Global
Report format : PDF
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[Report Description]

“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.

TABLE OF CONTENTS

1 INTRODUCTION 19
1.1 OBJECTIVES OF THE STUDY 19
1.2 DEFINITION 19
1.3 SCOPE OF THE STUDY 20
1.3.1 MARKETS COVERED 20
1.3.2 YEARS CONSIDERED FOR THE STUDY 21
1.4 CURRENCY 21
1.5 LIMITATIONS 21
1.6 STAKEHOLDERS 22
2 RESEARCH METHODOLOGY 23
2.1 RESEARCH DATA 23
2.1.1 SECONDARY & PRIMARY RESEARCH 24
2.1.2 SECONDARY DATA 24
2.1.2.1 Major secondary sources 24
2.1.2.2 Secondary sources 25
2.1.3 PRIMARY DATA 25
2.1.3.1 Primary interviews with experts 25
2.1.3.2 Key data from primary sources 26
2.1.3.3 Key industry insights 26
2.1.3.4 Breakdown of primaries 27
2.2 MARKET SIZE ESTIMATION 27
2.2.1 BOTTOM-UP APPROACH 27
2.2.1.1 Approach for arriving at the market share by the bottom-up analysis (demand side) 27
2.2.2 TOP-DOWN APPROACH 28
2.2.2.1 Approach for capturing the market share by top-down analysis (supply side) 29
2.3 MARKET BREAKDOWN & DATA TRIANGULATION 30
2.4 RESEARCH ASSUMPTIONS 31
3 EXECUTIVE SUMMARY 32
4 PREMIUM INSIGHTS 37
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN THE HVAC SYSTEM MARKET 37
4.2 HVAC SYSTEM MARKET, BY EQUIPMENT TYPE 38
4.3 HVAC SYSTEM MARKET, BY APPLICATION 38
4.4 HVAC SYSTEM MARKET, BY IMPLEMENTATION TYPE 39
4.5 HVAC SYSTEM MARKET IN APAC, BY COOLING EQUIPMENT & COUNTRY 39
4.6 HVAC SYSTEM MARKET, BY GEOGRAPHY 40
5 MARKET OVERVIEW 41
5.1 INTRODUCTION 41
5.1.1 DRIVERS 42
5.1.1.1 Demand for improved HVAC systems to reduce energy consumption 42
5.1.1.2 Government tax credit and rebate programs 42
5.1.1.3 Increasing demand for HVAC systems because of the need for upgrade or refurbishment 43
5.1.1.4 Government regulations and policies for conserving energy 43
5.1.2 RESTRAINTS 43
5.1.2.1 Higher installation cost of energy-efficient HVAC systems 43
5.1.2.2 Lack of awareness regarding benefits of HVAC system in developing countries 44
5.1.3 OPPORTUNITIES 44
5.1.3.1 Increasing investments in construction sector 44
5.1.3.2 Integration of IoT with HVAC systems 44
5.1.3.3 Increasing penetration of VRF systems in residential applications 45
5.1.4 CHALLENGE 45
5.1.4.1 Complexities in HVAC retrofit 45
6 INDUSTRY TRENDS 46
6.1 INTRODUCTION 46
6.2 VALUE CHAIN ANALYSIS 46
6.3 SOFTWARE & SERVICES IN HVAC SYSTEMS 47
6.3.1 SOFTWARE 47
6.3.2 SERVICES 49
7 HVAC SYSTEM MARKET, BY HEATING EQUIPMENT 50
7.1 INTRODUCTION 51
7.2 HEAT PUMPS 53
7.2.1 AIR-TO-AIR HEAT PUMPS 54
7.2.2 AIR-TO-WATER HEAT PUMPS 54
7.2.3 WATER-TO-WATER HEAT PUMPS 54
7.3 FURNACES 56
7.3.1 OIL FURNACES 56
7.3.2 GAS FURNACES 56
7.3.3 ELECTRIC FURNACES 56
7.4 BOILERS 58
7.4.1 STEAM BOILERS 58
7.4.2 HOT WATER BOILERS 59

7.5 UNITARY HEATERS 60
7.5.1 GAS UNIT HEATERS 60
7.5.2 OIL-FIRED UNIT HEATERS 60
7.5.3 ELECTRIC UNIT HEATERS 61
8 HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT 63
8.1 INTRODUCTION 64
8.2 HUMIDIFIERS 67
8.2.1 WARM-MIST HUMIDIFIERS 67
8.2.2 ULTRASONIC HUMIDIFIERS 67
8.2.3 COOL-MIST HUMIDIFIERS 68
8.3 DEHUMIDIFIERS 69
8.3.1 REFRIGERATION DEHUMIDIFIERS 69
8.3.2 ABSORPTION DEHUMIDIFIERS 69
8.4 AIR PURIFIERS 71
8.4.1 HEPA AIR PURIFIERS 71
8.4.2 ACTIVATED CARBON AIR PURIFIERS 71
8.4.3 ELECTROSTATIC AIR PURIFIERS 71
8.4.4 IONIC AIR PURIFIERS 72
8.5 AIR FILTERS 73
8.6 VENTILATION FANS 75
8.6.1 CROSSFLOW FANS 75
8.6.2 AXIAL FANS 75
8.6.3 CENTRIFUGAL FANS 75
8.6.4 DOMESTIC FANS 75
8.6.5 RANGE HOOD FANS 75
8.6.6 POWER ROOF FANS 75
8.7 AIR HANDLING UNITS 77
9 HVAC SYSTEM MARKET, BY COOLING EQUIPMENT 80
9.1 INTRODUCTION 81
9.2 ROOM AIR CONDITIONERS 85
9.3 UNITARY AIR CONDITIONERS 86
9.3.1 SPLIT AIR CONDITIONERS 87
9.3.2 PACKAGED AIR CONDITIONERS 87
9.4 CHILLERS 89
9.4.1 SCROLL CHILLERS 89
9.4.2 SCREW CHILLERS 89
9.4.3 CENTRIFUGAL CHILLERS 89
9.4.4 RECIPROCATING CHILLERS 90
9.4.5 ABSORPTION CHILLERS 90

9.5 COOLERS 92
9.5.1 DUCTED COOLERS 92
9.5.2 WINDOW COOLERS 92
9.6 COOLING TOWERS 93
9.6.1 EVAPORATIVE COOLING TOWERS 94
9.6.2 DRY COOLING TOWERS 94
9.6.3 HYBRID COOLING TOWERS 94
9.7 VRF SYSTEMS 96
10 HVAC SYSTEM MARKET, BY IMPLEMENTATION TYPE 99
10.1 INTRODUCTION 100
10.2 NEW CONSTRUCTION 101
10.3 RETROFIT 102
11 HVAC SYSTEM MARKET, BY APPLICATION 103
11.1 INTRODUCTION 104
11.2 RESIDENTIAL 107
11.3 COMMERCIAL 107
11.3.1 HEALTHCARE 112
11.3.2 EDUCATION 112
11.3.3 GOVERNMENT 112
11.3.4 OFFICE 112
11.3.5 AIRPORT 112
11.3.6 RETAIL 112
11.4 INDUSTRIAL 113
12 GEOGRAPHIC ANALYSIS 114
12.1 INTRODUCTION 115
12.2 NORTH AMERICA 118
12.2.1 US 123
12.2.2 CANADA 123
12.2.3 MEXICO 123
12.3 EUROPE 124
12.3.1 UK 130
12.3.2 GERMANY 130
12.3.3 FRANCE 131
12.3.4 REST OF EUROPE 131
12.4 APAC 131
12.4.1 CHINA 136
12.4.2 JAPAN 137
12.4.3 INDIA 137
12.4.4 REST OF APAC 138
12.5 ROW 138
12.5.1 SOUTH AMERICA 142
12.5.2 MIDDLE EAST 142
12.5.3 AFRICA 143
13 COMPETITIVE LANDSCAPE 144
13.1 OVERVIEW 144
13.2 MARKET RANKING ANALYSIS: HVAC SYSTEM MARKET 146
13.3 COMPETITIVE SITUATION & TRENDS 147
13.3.1 AGREEMENTS, MERGERS, JOINT VENTURES & PARTNERSHIPS 147
13.3.2 PRODUCT LAUNCHES & DEVELOPMENTS 148
13.3.3 EXPANSIONS 149
13.3.4 ACQUISITIONS 149
14 COMPANY PROFILES 150
14.1 INTRODUCTION 150
14.2 KEY PLAYERS 151
(Business overview, Products offered, Recent developments, MNM view, SWOT analysis)*
14.2.1 DAIKIN 151
14.2.2 INGERSOLL-RAND 154
14.2.3 JOHNSON CONTROLS 158
14.2.4 LG ELECTRONICS 161
14.2.5 UNITED TECHNOLOGIES 164
14.2.6 ELECTROLUX 169
14.2.7 EMERSON 171
14.2.8 HONEYWELL 174
14.2.9 LENNOX 176
14.2.10 NORTEK 179
*Business overview, Products offered, Recent developments, MNM view, SWOT analysis might not be captured in case of unlisted companies.
14.3 OTHER KEY PLAYERS 183
14.3.1 MITSUBISHI ELECTRIC 183
14.3.2 PANASONIC 183
14.3.3 QINGDAO HAIER 184
14.3.4 SAMSUNG ELECTRONICS 184
14.3.5 WHIRLPOOL 185
14.3.6 MIDEA 185
14.3.7 GREE 186
14.3.8 FUJITSU 186
14.3.9 HITACHI 187
14.3.10 DANFOSS 187
15 APPENDIX 188
15.1 INSIGHTS OF INDUSTRY EXPERTS 188
15.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 191
15.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 193
15.5 AVAILABLE CUSTOMIZATIONS 195
15.6 RELATED REPORTS 195
15.7 AUTHOR DETAILS 196

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