DUBLIN – (BUSINESS WIRE) – Added Heating, Ventilation, Air Conditioning (HVAC) Global Market Development and Analysis report ResearchAndMarkets.com to offer.

Global Heating, Ventilation, Air Conditioning (HVAC) Market Will Reach $ 286.8 Billion By 2026

In the midst of the COVID-19 crisis, the global heating, ventilation and air conditioning (HVAC) market will grow to 201 billion 5.9% in 2020 over the analysis period.

Rising concerns about climate change, rising energy prices and carbon emissions continue to drive the adoption of HVAC systems in commercial spaces. The market will also benefit from the increasing demand for energy-saving products. Discounts on energy efficient systems such as air conditioning and HVAC encourage commercial building users to implement and upgrade HVAC systems.

Cooling Systems, one of the segments analyzed in the report, is expected to grow 6.2% CAGR and reach $ 204 billion by the end of the analysis period. After a thorough analysis of the business impact of the pandemic and the economic crisis caused, growth in the heating systems segment will be adjusted to a revised CAGR of 5.5% for the next 7 year period.

This segment currently accounts for 20.8% of the global heating, ventilation and air conditioning (HVAC) market. The demand for heat pumps is attributed to the availability of systems with advanced functions that allow heating and cooling of rooms, as well as heating of water.

It is expected that the ability of heat pumps to be more efficient than other space heating and cooling units will continue to increase their prevalence in the coming years. Climate change and the gradually rising average temperature are driving the use of cooling devices in summer.

Ventilation systems segment will reach $ 34 billion by 2026

In the global ventilation systems segment, the US, Canada, Japan, China and Europe will drive the CAGR estimated for this segment of 4.2%. These regional markets, with a combined market size of $ 19.4 billion in 2020, are projected to reach a projected size of $ 25.8 billion by the end of the analysis period.

China will be one of the fastest growing in this cluster of regional markets. Led by countries like Australia, India, and South Korea, the Asia-Pacific market is projected to reach $ 4.5 billion by 2026, while Latin America is expected to grow 5.6% CAGR over the analysis period.

Key topics covered:

I. METHODOLOGY

II. SUMMARY

  • Insights into the influencer market

  • Effects of Covid-19 and an impending global recession

  • HVAC market analysis and outlook

  • Asia-Pacific continues to dominate the world market

  • The changing economic scenario affects the market dynamics

  • Global Economic Outlook: Real GDP growth rates in% by country / region for the years 2017 to 2020

  • Climate Change: A Key Driver for Energy Efficient HVAC Systems

  • Millennial Generation: Playing an Important Role

  • Carrier Corporation (USA)

  • Daikin Industries Ltd. (Japan)

  • Danfoss (Denmark)

  • Emerson Electric Co. (USA)

  • Fujitsu General Limited (Japan)

  • Gree Electric Appliances, Inc. (China)

  • Havells India Limited (India)

  • Hitachi Ltd. (Japan)

  • Honeywell International, Inc. (USA)

  • Johnson Controls, Inc. (USA)

  • Johnson Controls-Hitachi Air Conditioner (Japan)

  • Lennox International, Inc. (USA)

  • LG Electronics, Inc. (South Korea)

  • Midea Group (China)

  • Mitsubishi Electric Trane HVAC US LLC (USA)

  • Panasonic Corporation of North America (USA)

  • Rheem Manufacturing Company (USA)

  • Samsung HVAC (USA)

  • Trane Inc. (USA)

  • Whirlpool Corp. (UNITED STATES)

  • Urgent need to reduce energy consumption and operating costs is driving the market for energy efficient HVAC systems

  • Other important innovations for efficient and high-performing HVAC systems

  • Use of multi-enzyme solutions

  • Sustainable retrofitting

  • Air conditioning with Ice Power

  • Digital blankets

  • Smart glasses

  • Sustainable HVAC piping

  • Important market restrictions

  • Intelligent HVAC systems have enormous potential

  • Smart thermostats: an important development

  • Integration of HVAC systems and IoT opens up new opportunities

  • AI for reduced heating and cooling costs for buildings

  • Cloud-connected HVAC systems enable the creation of intelligent and efficient facilities

  • Automated control systems for HVAC equipment gain traction in buildings

  • Alternative energy sources attract attention

  • Solar-powered HVAC systems gain traction

  • Heat pumps dominate the HVAC market

  • Geothermal cooling and heating is a viable option for improving building efficiency

  • Closed and open loop systems

  • Demand for channelless ACs is increasing

  • Strongly growing demand for channelless multi-zone systems

  • Global market for VRF systems is picking up speed

  • Outdoor units lead the market

  • HVACs with air quality systems: high demand

  • Air conditioning systems: Climate change and rising temperatures are driving market growth

  • Use of environmentally friendly refrigerants is increasing in air conditioning systems

  • Green refrigerants as a substitute for fluorocarbons

  • Increase in the acceptance of DeVAP systems

  • Growing Interest in Indoor Grow Systems: A Growth Driver for Emerging Markets

  • Huge investments in the construction sector are improving the market prospects for HVAC systems

  • Growing need for replacement and modernization of HVAC systems

  • Growing urbanization increases the need for HVAC systems

  • Urban world population in thousands: 1950-2050P

  • Wealthy middle class opens Asia to an important market

III. MARKET ANALYSIS

  • Market overview

  • Government initiatives support the demand for energy efficient models

  • Positive signs of a recovery in the construction market bode well for HVAC systems

  • Total housing starts (in billion US dollars) in the United States from 2015 to 2020

  • Energy conservation efforts are having an impact on the Japanese HVAC industry

  • China is becoming the core market for HVAC systems

  • Rising standards for the expansion of the living fuel market

  • Identified high growth opportunities in India

  • Healthy demand for air conditioning

  • Regional demand patterns

  • Launch of energy-efficient products

  • Introduction of natural refrigerants

  • Environmentally friendly air conditioning systems are gaining traction

IV. COMPETITION

  • Total number of companies featured: 82

Please visit https://www.researchandmarkets.com/r/esrvdx for more information on this report