HVAC 2019 Global Trends, Market Size, Share, Status, SWOT Analysis and Forecast to 2024

Exploiting the science of fluid mechanics, thermodynamics, and heat transfer; heating, ventilation, and air conditioning (HVAC) is technology designed for enhancing indoor and vehicular environment comfort. The objective behind developing HVAC is to provide better quality indoor air and thermal comfort. The rise in need for maintaining indoor air quality as pollution seems to intensify outdoor is identified as the crucial factor that is likely to prompt growth for the global HVAC market.

The pharmaceutical industry is a notable end-user of HVAC solutions. The need for environmental controlled space is of high importance for manufacturing and storing temperature sensitive chemicals and drugs. The oil and gas industry are actively deploying HVAC solutions in order to check on high risk of explosion. These factors are expected to benefit the HVAC market.

The expansiveness of the market can be attributed to the factors such as high residential and non-residential constructional activities, inclination of mass towards leading a life of better comfort, and hike in purchase power of people are likely to gain traction for the global HVAC market.

Market Top Manufacturers
Mitsubishi Electric Corporation, Samsung Electronics, Ingersoll-Rand, Toshiba Corporation, Johnson Control International, United Technologies Corporation, Panasonic Corporation, Midea Group, Gree Electric, and Daikin Industries.

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Segmentation Outline

The worldwide HVAC market study has been divided on the basis on two important category, which are application and type. On considering application category, the market has been bifurcated into Residential, Marine & Offshore, Institutional, Oil & Gas, Commercial Real Estate, Power, and others. High urban population density and hike in annual income of people are factors that are allowing greater number for integrating HVAC in their home, Moreover, as the concept of smart home turns into reality, a greater number of people are deploying HVAC system at their home. In fact, corporate and government sectors are also favouring HVAC system adoption in order to build a comfortable environment where business exercises can be executed seamlessly. Hence, residential and commercial segments are expected to raise profit margin for the market. Oil and gas industry, due to its numerous chances for explosion requires proper, indoor temperature, for avoiding any fatal spur. This is also likely to surge the global market of HVAC. Taking into account the type, the market has been divided into Central Air Conditioning Systems and Direct Expansion Systems. The feasibility of operating central air-conditioning systems are in high. Furthermore, a hike in sales of direct expansion system is noted. These factors are expected to drive the market worldwide.

Detailed Regional Analysis 

The HVAC system market has been examined regionally to understand its growth across South America (Colombia, Brazil, and Argentina), North America (United States, Mexico, and Canada), Europe (Italy, UK, Germany, Russia, and France), Asia-Pacific (India, China, Japan, Korea, and Southeast Asia), and Middle East and Africa (UAE, Egypt, Saudi Arabia).

The North America market to exhibit a steady growth. The Europe market is likely experience a healthy growth due to continuous innovations. The Asia Pacific market is expected to exhibit accelerated growth.

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