HVAC Market Valued at $ 138 Billion in 2016
Rising
construction activities in both commercial and residential sectors, shift towards green technology, and increasing
awareness about the benefits of HVAC are expected to drive the global HVAC
market through 2022
According to a recently released TechSci
Research report, “Global HVAC Market By Product Type, By End Use
Sector, By Region, Competition Forecast & Opportunities, 2012–2022”, the global HVAC market stood at an
estimated $ 138 billion in 2016. The market is expected to witness tremendous
growth on account of rising construction activities across developed as well as
developing economies coupled with increasing adoption of energy efficient HVAC
systems across residential and commercial end user segments. Moreover, other
factors like extreme climatic conditions and growing replacement demand for
HVAC systems are further expected to drive the global HVAC systems market
through 2022.
Browse 185 market data Figures and Tables spread through 225 Pages and an in-depth TOC on "Global HVAC Market"
https://www.techsciresearch.com/report/global-hvac-market-by-product-type-direct-expansion-systems-and-central-air-conditioning-systems-by-end-use-sector-residential-commercial-real-estate-institutional-marine-offshore-oil-gas-power-and-others-competition-forecast-opportunities/1222.html
On the basis
of product type, the global HVAC market is broadly segmented into direct
expansion systems and central air conditioning systems. Direct expansion
systems dominated the global HVAC market due to several benefits associated
with them like energy efficiency and lower running cost. A large demand for
HVAC systems emanates from the residential sector on account of the increasing
purchasing power of the middle-income consumers, globally. Also, rising
construction activities in the residential sector are further adding on to the
demand for HVAC systems. In terms of region, APAC and North America are the
leading regions in the global HVAC market
with a cumulative share standing at over two-thirds of the entire global market
in 2016. These regions are anticipated to account for a significant demand share
during the forecast period as well, on account of rising purchasing
power of consumers, growing urbanization and increasing construction activities in the regions.
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Daikin, UTC and Gree are some of
the leading players operating in the global HVAC market These players are expected to remain in
prominence as they are increasing focusing on offering HVAC systems that are greener and are specifically designed for
use in smart city projects, globally. “Construction
activities are increasing at a rapid pace across the globe. According to Construction Intelligence
Center, the construction output stood at around $ 9.60 trillion in 2015, which
is expected to reach around $ 12 trillion by 2020. Moreover, with strict
policies by the government to increase energy efficiency, demand for energy
efficient HVAC systems is likely to increase over the course of next five years.
All of these developments coupled with rapid urbanization being witnessed
across the globe would positively influence the global HVAC systems market
through 2022”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global management
consulting firm.
“Global
HVAC Market By Product Type,
By End Use Sector, By Region, Competition Forecast & Opportunities,
2012–2022” has
evaluated the future growth potential of HVAC systems market and provides
statistics and information on market structure, size, share and trends. The
report is intended to provide cutting-edge market intelligence and help
decision makers to take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in the global HVAC market.
About TechSci Research
TechSci
Research is a leading global market research firm publishing premium market
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