Pangkalahatang ideya ng Market

The global HVAC market is expected to reach USD 309.62 bilyon sa pamamagitan ng 2028, growing at a compound annual growth rate (CAGR) ng mga 5.43% mula sa 2022 sa 2028. This growth is driven by the increasing integration of Internet of Things (IoT) technology with HVAC products, making them more innovative and accessible. The focus on energy efficiency has led to the incorporation of multiple sensors in building ecosystems, including HVAC systems.

In 2022, major economies in the Asia-Pacific (APAC) rehiyon, such as China, Hapon, and India, witnessed a surge in commercial construction activities due to the establishment of companies in various sectors. This has increased the demand for energy-efficient HVAC systems and explosion-proof equipment regulated by stringent norms, creating significant growth opportunities in the APAC HVAC market. Dagdag pa, the Middle East is experiencing climate changes, including rising temperatures and heat waves, leading to a higher demand for HVAC systems in commercial and residential buildings to control indoor climate conditions and improve air quality.

HVAC systems are crucial for ensuring thermal comfort in buildings. They account for over 15% of the overall building equipment cost and contribute to high operational costs. Kaya nga, selecting energy-efficient products is essential. The floor and space requirements play a significant role in HVAC system selection.

The commercial sector experienced a decline in 2020 due to the impact on industries like hotels, motels, sports, and convention centers. Gayunpaman, with the recovering economy, the commercial sector has shown steady growth since 2021. Energy-efficient HVAC technologies in residential and commercial buildings can provide environmental and economic benefits, with potential energy savings of up to 40%. Replacing existing equipment with energy-efficient HVAC technologies will drive market growth in the future.

The construction industry is expected to show sustained growth globally due to stable economic conditions and low-interest rates in some European countries. The construction of hotels, amusement parks, offices (private and government), and sports and convention centers supports the HVAC market in the construction sector.

The HVAC market heavily relies on the construction industry, whether it’s new installations for residential or commercial buildings or refurbishments. Increased investments from both public and private sectors, especially in countries like Spain, Cyprus, Italya, and the Netherlands, have boosted the revenue of the HVAC industry. In 2022, the Construction Intelligence Center revised its growth forecast for the European construction industry due to improved performance in major developed city markets and a brighter outlook for the European economy.

Market Segmentation

Ang merkado ay segmented batay sa iba't ibang mga kadahilanan, including heating, ventilation, air conditioning, end-user, geography.

Segmentation by Equipment
Heating – Heat Pump, Boiler Units, Furnaces, Ang iba naman
Air Conditioning – RAC, CAC, Chillers, Heat Exchangers, Ang iba naman
Ventilation – Air Handling Units, Air filters, Humidifiers & Dehumidifiers, Fan Coil Units, Ang iba naman

Segmentation by End-user
Residential
Commercial – Office Spaces, Airport & Public Utilities, Hospitality, Hospitals, Industrial & Ang iba naman

Segmentasyon ayon sa Heograpiya
Hilagang Amerika – US, Canada
Europa – Western Europe (Alemanya, Pransiya, UK, Italya, Netherlands), Nordic (Norway, Denmark, Sweden, Ang iba naman), Central & Eastern Europe (Rusya, Poland & Austria, Other CEE Countries)
APAC – Tsina, Hapon, India, Australia
Latin America – Brazil, Mexico, Argentina
Middle East & Africa – Timog Aprika, Saudi Arabia, UAE

HVAC, which stands for Heating, Ventilation, and Air Conditioning, encompasses a range of technologies used in commercial, residential, industrial, and public utility buildings. The heating equipment segment of the global HVAC market was valued at USD 91.06 bilyon sa 2022 and is expected to reach USD 123.85 bilyon sa pamamagitan ng 2028. This segment is characterized by intense competition, with numerous local and domestic vendors.

The air conditioning industry is also highly competitive, with both domestic and multinational vendors. It is a seasonal industry that relies on modern technology. Air conditioners are the fastest-growing segment and have significant market potential in developed and developing economies. The Asia-Pacific (APAC), Europa, and North America regions are expected to experience rapid growth in the air conditioning market due to increased construction activity and demand for renovation projects.

The global residential sector HVAC market was valued at USD 135.63 bilyon sa 2022 and is projected to grow at a compound annual growth rate (CAGR) ng mga 4.99% sa panahon ng pagtataya. The demand from the residential sector has increased by over 5.63%, driven by house refurbishments and stable new construction activity. The preference for larger homes and low-interest rates have led to a rise in home improvements and new constructions. Sa Estados Unidos, many construction projects contribute significantly to HVAC system revenue, and the demand is expected to grow further. In Europe, climatic variations have resulted in high demand for all categories of HVAC products in 2022. The demand for HVAC equipment in the Nordic countries differs considerably from mainland Europe. Construction activities in the region are concentrated in Western Europe, with a strong demand for replacements.

The APAC region holds the largest share of the global HVAC market and is expected to witness a CAGR of 6.44% sa panahon ng pagtataya. This growth is driven by increasing demand from the residential sector as well as commercial offices and buildings. Major economies in APAC, including China, Hapon, and India, are experiencing a rise in commercial construction activity due to the establishment of companies across various sectors. In 2022, China accounted for the largest revenue share (43.73%) of the APAC HVAC system market, with an estimated incremental growth of USD 21.81 billion during the forecast period. The Chinese market is witnessing a surge in real estate projects and public-private investments in residential, industrial, and commercial development zones, driven by urbanization.

The European HVAC market was valued at USD 61.2 bilyon sa 2022 and is expected to reach USD 86.49 bilyon sa pamamagitan ng 2028, registering a CAGR of 5.92% sa panahon ng pagtataya. This growth is primarily driven by Western European countries, with France and Germany accounting for one-third of the market. These countries are projected to experience annual growth rates of 4.72% at 5.93%, respectively, in the forecast period. Factors contributing to the increased sales of HVAC equipment in Europe include rising average construction spending, retail building construction projects, government spending on sustainable building development, industrial developments, urbanization, changing climatic conditions, and growth in disposable income across European countries.

In North America, the adoption of green building strategies is a significant driver in the HVAC market. Green buildings are designed to minimize energy consumption for heating and cooling purposes, focusing on natural airflow and sustainable building materials. This approach helps reduce the energy intake of HVAC systems in order to achieve more environmentally friendly and energy-efficient buildings.

Mapagkumpitensya na Landscape

Systemair, Johnson Controls, Zehnder, Ostberg, and Aldes are prominent players operating in the global HVAC market. Other notable participants in the global HVAC market include LG, Panasonic, Carrier, Regal, and several others. These leading vendors prioritize the development of advanced HVAC systems and allocate significant investments towards research and development (R&D) initiatives. Their aim is to expand their product portfolio and gain a competitive edge in the market.

The integration of Internet of Things (IoT) technology presents attractive opportunities to transform the industry. By connecting all HVAC components and enabling efficient device operation through smart management solutions, the industry is poised for significant changes. Gayunpaman, due to intense competition, R&D investments in the HVAC market are limited and predominantly undertaken by large vendors. Dagdag pa, the HVAC market faces challenges related to short time-to-market and the cautious adoption of new technologies. Dahil dito, R&D investments primarily focus on reducing production costs and enhancing existing product technology to add value, rather than developing entirely new products. As a result, mergers and acquisitions are becoming increasingly common as companies seek to enhance their offerings and capabilities to thrive in the global HVAC market.

Key companies profiled in this report include Systemair, Johnson Controls, Zehnder, Ostberg, Aldes, Bosch, Daikin, Samsung, Mitsubishi Electric, LG, Panasonic, Carrier, Midea, Regal, Raytheon Technologies, Honeywell, Flakt Group, Beijer Ref, Flexit, Grundfos, Swegon, VTS, Nuaire, Nortek, Alfa Laval, Hitachi, Lu-Ve, Vent-Axia, Rosenberg, S & P, WOLF, CIAT, AL-KO, DynAIR, Danfoss, Lennox, Backer Springfield, Dunham-Bush, TCL, TROX, Vaillant Group, Ingersoll Rand, Camfil.

Mga Mahahalagang Tanong na Nasagot

How large is the global HVAC market in terms of monetary value?

The global HVAC market achieved a valuation of USD 225.50 bilyon sa 2022, and it is projected to reach USD 309.62 bilyon sa pamamagitan ng 2028.

What is the growth rate of the global HVAC market?

The global HVAC market is anticipated to grow at a compound annual growth rate (CAGR) ng mga 5.43% during the period from 2022 sa 2028.

What are some notable trends observed in the global HVAC market?

Some notable trends in the global HVAC market include the increasing adoption of energy-efficient products as a replacement for older equipment, the emergence of Internet of Things (IoT) technology facilitating product innovations and replacements, and the demand for HVAC systems in Europe driven by its climatic conditions and heatwaves.

Who are the major players in the global HVAC market?

The key players in the global HVAC market include Systemair, Johnson Controls, Zehnder, Ostberg, Aldes, Bosch, Daikin, Samsung, and Mitsubishi Electric.

Which region dominates the global HVAC market in terms of market share?

The Asia-Pacific (APAC) region holds the largest market share in the global HVAC market, with a valuation of USD 102.17 bilyon sa 2022.

What is the market size of the global Residential HVAC market?

In 2022, the residential sector within the global HVAC market reached a value of USD 135.63 billion.