World News: 13:35 GMT Wednesday 15th May 2019. [Research and Markets via Businesswire via SPi World News]
The "Heating, Ventilation, and Cooling Market by HVAC Type, by End-User by Geography Global Market Size, Share, Development, Growth and Demand Forecast, 2014-2024" report has been added to ResearchAndMarkets.com's offering.
According to this research, the global heating, ventilation, and air conditioning (HVAC) market is exacted to attain a size of $136.5 billion by 2024, advancing at a CAGR of 3.9% during the forecast period (2019-2024).
The market is backed by various factors, predominantly the rising government initiatives around the world and expansion in the construction sector. Additionally, the escalating global temperature is strengthening the year-over-year (YoY) market growth.
Global warming caused by greenhouse emissions has raised the temperature and become one of the major factors behind the growing demand for HVAC system, globally. According to NASA's Goddard Institute of Space Studies (GISS), since 1980, the average global temperature rose by 0.5C every year. Furthermore, some countries in APAC and MEA are subject to subtropical climate, resulting in extremely humid and hot summers; thereby, making them dependent on HVAC systems for cooling.
Based on HVAC type, the HVAC market is categorized into heating, ventilation, and cooling, among which the cooling category is further divided into ducted spilt/packaged unit, variable refrigerant flow, spilt unit, room air conditioner, and chiller. Out of these, spilt unit systems held the largest revenue share in the market in 2018. This is attributed to the increasing adoption of ductless air conditioning systems. Furthermore, residential and commercial were the main sectors generating a uniform demand for HVAC systems. As of 2018, over 60% of the U.S. households are estimated to have central air conditioning systems.
Based on end-user, the HVAC market is fragmented into industrial, commercial, and residential. Here, the industrial category is further classified into automotive, energy and utilities, food and beverages (F&B), and oil and gas. Among these, in 2018, the F&B classification dominated the market with the highest revenue share. F&B manufacturing plants require well-designed air handling systems, which can control airborne odors and particulates. In 2017, around 640 F&B production units underwent expansion and renovation; among these 63 were new brewery units. During 2018-2021, in the North America region, the F&B industry is anticipated to grow with a CAGR of 11.3%.
The intensity of competition among the key players in the industry is moderate. Last year, many major companies focused on partnerships to increase their product capabilities and offer technologically-enhanced HVAC systems to their customers.
Key Topics Covered
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by HVAC Type
1.3.2 Market Segmentation by End-User
1.3.3 Market Segmentation by Region
1.3.4 Analysis Period
1.3.5 Market Data Reporting Unit
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
188.8.131.52 By region
184.108.40.206 By industry participant
220.127.116.11 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By HVAC Type
18.104.22.168.2 Heat Pumps
22.214.171.124.4 Unitary Heaters
126.96.36.199.2 Air cleaners
188.8.131.52.3 Ventilation fans
184.108.40.206.4 Air handling units and fan coil units
220.127.116.11.2 Ducted split/packaged unit
18.104.22.168.3 Split units
22.214.171.124.5 Room ACs
4.1.2 By End-User
126.96.36.199.1 Offices and buildings
188.8.131.52.1 Oil and Gas
184.108.40.206.2 Food and Beverage
220.127.116.11.4 Energy and Utilities
4.2 Value Chain Analysis
4.3 Market Dynamics
4.4 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By HVAC Type
5.1.1 Heating, by Equipment Type
5.1.2 Ventilation, by Equipment Type
5.1.3 Cooling, by Equipment Type
5.2 By End-User
5.2.1 Commercial, by Category
5.2.2 Industrial, by Category
5.2.3 By Residential
5.3 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 Market Share Analysis of Key Players
11.2 List of Key Players and their Offerings
11.3 Recent Activities of Key Players
11.4 Strategic Developments of Key Players
11.4.1 Mergers and Acquisitions
11.4.3 Product Launches
11.4.4 Facility Expansions
11.4.5 Other Developments
Chapter 12. Company Profiles
12.1 Johnson Controls International PLC
12.1.1 Business Overview
12.1.2 Product and Service Offerings
12.1.3 Key Financial Summary
12.1.4 SWOT Analysis
12.2 Samsung Electronics Co. Ltd.
12.3 Lennox International Inc.
12.4 Ingersoll-Rand PLC
12.5 United Technologies Corporation
12.6 Daikin Industries Ltd.
12.7 Mitsubishi Electric Corporation
12.8 Toshiba Carrier Corporation
12.9 LG Electronics Inc.
12.10 Fujitsu Limited
12.11 Midea Group Co. Ltd.
12.12 Gree Electric Appliances, Inc. of Zhuhai
12.13 Danfoss A/S
For more information about this report visit https://www.researchandmarkets.com/r/nq2yg6
Business Wire: 13:35 GMT Wednesday 15th May 2019
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