The HVAC equipment manufacturing industry include companies offering manufacturing ventilating, heating, air-conditioning, and commercial and industrial refrigeration and freezer equipment.HVAC system consist of interconnected mechanical systems that provide thermal comfort and air quality in an indoor facility. The ventilation, heating, air-conditioning, and commercial refrigeration equipment manufacturing industry can be further classified as follows:
- Industrial And Commercial Fan And Blower And Air Purification Equipment Manufacturing
- Heating Equipment (Except Warm Air Furnaces) Manufacturing
- Air-Conditioning And Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing
Western Europe was the largest region in the ventilation, heating, air-conditioning, and commercial refrigeration equipment manufacturing market in 2016, accounting for around 36% of the market. This was mainly due to the large number of industries, data centers, and offices in the region, demanding large-scale ventilation and heating systems. Asia Pacific was the second largest region accounting for around 30% of the market. South America was the smallest region accounting for around 2% of the market. This can be attributed to the low per capita GDP in countries such as Venezuela, Puerto Rico, Dominican Republic, and Ecuador and lack of a well-established cold-storage network in the region. Internet of Things (IOT) Technology Reshaping The HVAC Industry - The HVAC companies are increasingly integrating IOT technology with HVAC equipment due to growing demand for real time insights from HVAC equipment.. The Internet of things is the inter-networking of physical devices embedded with software, sensors and network connectivity which enable these objects to collect and exchange data. Using IOT, HVAC systems are closely monitored and controlled from remote locations. Real time monitoring, predictive maintenance, remote diagnostics, system adaptation, continuous comfort, increased efficiency, focus on user experience are some of the features of IoT enabled HVAC equipment. According to Emerson Climate Technologies, 33 percent of thermostats, a device that automatically regulates temperature sold in 2014 were Wi-Fi-enabled and it is expected to become 75% by 2019.
Scope: Markets Covered: Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing, Industrial and Commercial Fan and Blower and Air Purification Equipment Manufacturing, and Heating Equipment (except Warm Air Furnaces) Manufacturing.
Companies Mentioned: United Technologies Corporation, Daikin Industries, Johnson Controls Inc., Ingersoll-Rand Plc, Bosch Group, Danfoss GmbH, Lennox Industries Inc., Nortek Inc.
Geographic Scope: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East And Africa
Time Series: Five years historic and forecast.
Data: Market value in $ billions.
Data Segmentations: Regional breakdowns, market share of competitors, key sub segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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