The global HVAC market stood at $ 138 billion in 2016 and is projected to cross $ 207 billion by 2022. Rising focus on adoption energy efficient HVAC systems coupled with continuing increase in construction and infrastructure activities is anticipated to fuel demand for HVAC systems across the globe. Moreover, growing focus on sustainability across the globe has resulted in adoption of various energy conservation measures such as advanced monitoring systems, building automation systems, and intelligent technologies, which is further likely to boost adoption of HVAC systems that are integrated with the latest smart technologies.
Years considered for this report:
Historical Years: 2012-2015
Base Year: 2016
Estimated Year: 2017
Forecast Period: 2018-2022
Objective of the Study:
Few of the major players operating in the global HVAC market include Samsung Electronics Co. Ltd., Toshiba Corporation, Ingersoll-Rand Plc., Johnson Control International Plc., Mitsubishi Electric Corporation, Midea Group Co. Ltd., Gree Electric, United Technologies Corporation, Panasonic Corporation, Daikin Industries, Ltd., etc.
TechSci Research performed primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of HVAC manufacturers and suppliers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. TechSci Research analyzed product offerings, distribution channel and regional presence of all major HVAC suppliers across the globe.
TechSci Research calculated the market size for the global HVAC market using a bottom-up approach, where manufacturers’ value data for different product types of (direct expansion systems and central air conditioning systems) HVAC systems was recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company annual reports, white papers, investor presentations and financial reports were also reviewed by the TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as HVAC manufacturers, distributors, dealers and policy makers, about which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth of the market.
Report Scope:
In this report, global HVAC market has been segmented into following categories, in addition to the industry trends which have also been detailed below: