The global HVAC equipment market is poised to grow by USD 54.65 billion during 2020-2024, progressing at a CAGR of over 7% during the forecast period. Request free sample pages
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Technavio has published a latest market research report titled Global HVAC Equipment Market 2020-2024 (Graphic: Business Wire)
Read the 155-page report with TOC on “HVAC Equipment Market Analysis Report by Product (Air conditioning equipment, Heating equipment, and Ventilation equipment), End-user (Non-residential and Residential), Geographic segmentation (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2020-2024”.
The market is driven by the increase in demand for centralized HVAC systems. Also, the advent of smart HVAC systems is anticipated to boost the growth of the HVAC equipment market.
The installation of centralized HVAC systems is becoming common in many corporate buildings because these systems allow cooling or heating of multiple rooms simultaneously. It removes airborne particles such as pollen, pet dander, allergens, and dust to supply fresh and clean air. They are considered more effective and efficient in comparison to window HVAC systems because they cause negligible noise indoors and are easy to operate. Furthermore, they are used for both humidification and dehumidification functions. These benefits are propelling the demand for centralized HVAC systems. Thus, this growing demand is expected to drive market growth during the forecast period.
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Major Five HVAC Equipment Market Companies:
Daikin Industries Ltd.
Daikin Industries Ltd. operates the business under various segments, such as Air conditioning, Chemicals, and Others. The company offers heat-pump hot-water supply and room-heating systems, absorption refrigerators, and other products. The company also provides air-handling units such as skyline semi-custom outdoor air handler, destiny commercial indoor air handler, and others.
FlaktGroup offers energy recovery solutions, integrated heating and cooling, compact air handling units, and swimming pool dehumidification. The company also provides various products for air conditioning and heating, air distribution, air filtration, air management, air movement, and air diffusion.
GEA Group AG
GEA Group AG operates under various business segments, namely Business area equipment and Business area solutions. The company offers customized products such as homogenizers, pumps, separators, refrigeration equipment, and valves.
Ingersoll-Rand Plc offers products through the following business segments: Climate and Industrial. The company offers AC systems and solutions for industrial, commercial, and residential buildings. They also provide material handling systems, power tools, Club Car golf, ARO fluid management equipment, and other products.
Johnson Controls International Plc
Johnson Controls International Plc offers products through the following business segments: Building technologies & solutions and Power solutions. The company provides YORK custom air handling units and YORK solution air handling units. They also provide fire detection and suppression products and services.
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HVAC Equipment Market Product Outlook (Revenue, USD Billion, 2020-2024)
- Air conditioning equipment
- Heating equipment
- Ventilation equipment
HVAC Equipment Market End-user Outlook (Revenue, USD Billion, 2020-2024)
HVAC Equipment Market Geographic segmentation Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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