Global HVAC Systems Industry Report 2020-2025 - Cloud-Connected HVAC Systems Enable Creation of Smart & Efficient Facilities

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Mar 09, 2020, 12:30 ET

DUBLIN, March 9, 2020 /PRNewswire/ -- The "Heating, Ventilation and Air Conditioning (HVAC) Systems - Market Analysis, Trends, and Forecasts" report has been added to ResearchAndMarkets.com's offering.

The global market for Heating, Ventilation and Air Conditioning (HVAC) Systems is projected to reach US$241.8 billion by 2025, driven by the ubiquitous importance of temperature control in homes and production environments.

In the residential sector, climate change is a key driving force encouraging the development of the HVAC market. Extreme weather conditions such as rising temperatures alternating between unusually cold winters is spurring the need for cooling and warming indoor spaces such as homes and office buildings. Home temperature control is aimed at keeping interiors of the house at a comfortable, uniform temperature.

In the industrial sector, temperature control is vital to ensure machines operate within specified temperatures and humidity for optimal efficiency and longer life. Temperature control is also important in ensuring the desired quality of manufactured product. A case in point is the importance of plant temperature control for plastic injection molding machines, a widely used piece of technology present in most manufacturing parts to produce millions of parts and components. Incorrect maintenance of temperature can result in the production of faulty products. Plastic injection molding is therefore a major application for process chillers.

Temperature control is also vital to ensure conformance to occupational safety standards. For instance, in boiler rooms, commercial kitchens, food canneries and chemical plants, temperature has to be controlled to safeguard against heat-related illnesses. Also, the progressively worsening air pollution levels the world over and the resulting concerns over indoor air quality (IAQ) is pushing up the importance of HVAC as the front line of defense against poor indoor air quality. Incorporation of high quality HEPA filters in HVAC systems ensures effective removal of airborne contaminants and microscopic particulates. Development of innovative pleated fabric filters capable of filtering contaminants as small as 3 microns also bodes well for market growth.

Given that HVACs are important and indispensable with omnipresent applications in virtually all buildings and factories, their growing carbon footprint is a major area of concern. HVAC systems utilize refrigerants to trap and transfer indoor heat to the outdoors. A majority of these refrigerants are volatile organic compounds (VOC) that emit greenhouse gasses (GHG) responsible for the depletion of the earth's ozone layer.

In the United States, over 45% of CO2 emissions are generated by residential HVAC systems used for heating and cooling purposes. The scenario is helping drive replacement demand for energy efficient systems. A significant percentage of technology innovations are directed at achieving energy efficiency. From variable refrigerant flow (VRF) technology, environmentally friendly filters, more efficient air handling units (AHUs), to the use of superior insulation materials, the market is witnessing a flurry of innovations. Of noteworthy importance is the integration of Internet of things (IoT) capabilities to enhance HVAC performance by continuous monitoring, management and improved controllability.

For example indoor environmental conditions can be monitored and the HVAC system that be accordingly controlled to reduce energy consumption. The growth in the number of smart homes will help make deployment of these HVAC systems more feasible. Few of the technologies under R&D include Movement-Activated Air Conditioning, Thermally Driven Air Conditioning, On-Demand Hot Water Recirculator, Ice-Powered Air Conditioning, Sensor-Enhanced Ventilation, Geothermal Heat Pumps, Dual-Fuel Heat Pumps, among others.

The United States, Europe and Asia-Pacific represent large markets worldwide with a combined share of 77.3% of the market. China ranks as the fastest growing market with a CAGR of 7.1% over the analysis period supported by the expanding middle class population in the country and a robust manufacturing industry. The country ranks as the world's largest producer of room air conditioners with a 68% share.

Key Topics Covered

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

HVAC Market Analysis and Outlook
Asia-Pacific Continues to Dominate Global Market
Changing Economic Scenario Influence Market Dynamics
Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2017 through 2020
Climate Change: An Important Driving Factor for Energy-efficient HVAC Systems
Millennial Generation: To Play an Important Role
HVAC Energy Use by End-Use (in %)
Global Competitor Market Shares
HVAC System Competitor Market Share Scenario Worldwide (in %): 2019

2. FOCUS ON SELECT PLAYERS

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 Conditioning (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. (USA)

3. MARKET TRENDS & DRIVERS

Pressing Need to Cut Energy Consumption and Operational Costs Impels Energy Efficient HVAC Systems Market
Select Important Innovations Enabling Efficient and High-Performance HVAC Systems
Thermal Powered Air Conditioning System
Sustainable Retrofit
Air Conditioning with Ice Power
Digital Ceilings
Motion Activated Air Conditioning System
Sustainable HVAC Ductwork
Major Market Restraints
Smart HVAC Systems Hold Immense Potential
Smart Control Systems
Smart Thermotats: An Important Development
Integration of HVAC Systems and IoT Offers New Opportunities
AI Improves Energy Efficiency in Building Heating & Cooling Systems
Cloud-Connected HVAC Systems Enable Creation of Smart and Efficient Facilities
Automated Control Systems for HVAC Equipment Gain Traction in Buildings
Alternative Energy Sources Garner Attention
Solar Powered HVAC Systems Gain Traction
Global Solar Power Market: Solar PV Capacity (in GW) and PV Generation (in TWh) for the Years 2017, 2019, 2021 and 2023
Heat Pumps Dominate the HVAC Market
Geothermal Cooling & Heating Presents Viable Option to Improve Building Efficiency
Closed- and Open-Loop Systems
Demand for Ductless ACs on Rise
Strong Growth in Demand for Ductless Multi-Zone Systems
Global VRF System Market to Gain Pace
Outdoor Units Lead the Market
HVACs with Air Quality Systems: High in Demand
Air Conditioning Systems: Climate Change and Rising Temperatures Drive Market Growth
% Penetration of Air Conditioning in Households
Deployment of Environment-Friendly Refrigerants Increases in ACs
List of Various Refrigerants Types
Green Refrigerants to Replace Hydro Fluorocarbons
Rise in Adoption of DeVAP systems
Rising Interest in Indoor Growth Facilities: An Emerging Market Driver
Huge Investments in Construction Sector Boosts HVAC Systems Market Prospects
Projected Increase in Construction Investments Augurs Well for HVAC Systems Market: World Construction Industry (in US$ Trillion) for the Years 2017, 2019 & 2022
Construction Industry Worldwide: Percentage CAGR of Construction Output by Region for the Period 2013-2017 and 2018-2023
Growing Replacement and Refurbishment Demand for HVAC Systems
Growing Urbanization to Increase the Need for HVAC Systems
World Urban Population in Thousands: 1950-2050P
Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 2000, 2020 & 2050
Affluent Middle Class Opens Up Asia into a Major Market
Growing Middle Class Population in Asia Pacific Drives Demand for New HVAC Systems: Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
Expanding Base of Middle Class in the Asian Region Provides the Perfect Platform for HVAC Systems: Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

UNITED STATES

Market Overview
Government Initiatives Prop Up Demand for Energy Efficient Models
Positive Signs of Revival in Construction Market Augurs Well for HVAC Systems
Total Construction Starts (in US$ Billion) in the US for the Years 2015 through 2020
Market Analytics

ASIA-PACIFIC

Market Overview
Rising Standards of Living Fuel Market Expansion
Market Analytics

JAPAN

Market Overview
Efforts toward Energy Conservation Impact Japanese HVAC Industry
Competitive Scenario
Market Analytics

CHINA

Market Overview
China Evolves into Core Market for HVAC Systems
Market Analytics

INDIA

High Growth Opportunities Identified in India
Healthy Demand for Air Conditioner Systems
Regional Demand Patterns
Energy-Efficient Products Foray into the Market
Adoption of Natural Refrigerants
Market Analytics

UNITED ARAB EMIRATES

Eco-Friendly Air Conditioning Systems Gain Traction
Market Analytics

IV. COMPETITION

Total Companies Profiled: 62 (including Divisions/Subsidiaries - 82)

For more information about this report visit https://www.researchandmarkets.com/r/mfe82z

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