HVAC Equipment Business Growing along with Smart Buildings Market!
Added: (Wed Nov 18 2015)
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Heating, Ventilating and Air-Conditioning Systems, often referred to as HVAC Systems is a design of mechanical engineering, based on thermodynamics principles, fluid mechanics and heat transfer, intended to offer indoor comfort zone for the residents or also vehicular ease, be it homes or offices or others. It not only deals with the air quality and freshness of the environment, but also handles the adjustment of warmth and chilly nature of the surrounding. Most common applications of the HVAC Equipment Market would be medium to large industrial & office buildings like skycrapers, onboard vessels, marine environments such as aquariums, where safe and healthy building conditions are regulated with respect to temperature and humidity, using fresh air from outdoors.
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Market Trends and Growth:
According to IndustryARC, HVAC Equipment Market generated sales and revenue of $128.7 Billion in 2014 and is expected to grow further in the coming 5 years. Also, it is projected to be growing at a CAGR of 7.6% through 2015 to 2020.
Segment wise, Commercial Sector held the largest share of the overall market. Region wise, Asia Pacific was noted to be the market leader in the past years, accounting for almost half the total market share. Whereas, China is till date known to be the largest producer of HVAC Equipment and demand for the same stems from Europe, Latin America, and Africa. While the Market Driving Factors are technological developments, stringent government regulations, increased demand from the commercial sector, rising consumer expectations, climate variations, and strong demand from Asia Pacific; Major Challenge would be the increased energy consumption. However, ongoing trends such as smart homes, green technologies, and energy-efficient systems are anticipated to present several opportunities for growth in HVAC Equipment Market over the next few years of the observational period.
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REPORT SCOPE: Market Segmentation:
HVAC Equipment Market is a wide market with 6 major classifications made on the basis of certain factors like:
1. By Heating Equipment & Components: Heat Pumps, Boilers, Space Heaters, Warm Air Furnaces and Others.
2. By Cooling Equipment & Components: Evaporative Coolers, Air Conditioners, Chillers and Cooling Towers.
3. By Ventilation Equipment & Components: Air Distribution Equipment and Air Treatment Equipment.
Further sub segmentation of these would be:
a. Air Distribution: Fans, Ducts and Diffusers.
b. Air Treatment: Dehumidifier, Air Purifiers and Air Filters.
4. By General Components: Condenser, Compressor, Centrifugal Pumps, Radiators, Coils and Others.
5. By End-Use Verticals: Residential, Commercial, Industrial and Automotive.
6. By Geography: North America, South America, Europe, APAC and MEA.
The top many important competitive companies are discussed in depth and studied based on Company Overview, Product Portfolio, Financials and Developments. Key Insights including quantitative and qualitative analysis of the complete HVAC Equipment Market is made available in this report. To mention few leading companies included here:
• Emerson Electric Company
• Honeywell International Inc.
• Mitsubishi Electric
• Siemens Building Technologies Ag
• Whirlpool Corporation
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