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Global Heating, Ventilation and Air Conditioning (HVAC) Market: Size, Trends and Forecasts (2019-2023)

  • ID: 4757859
  • Report
  • Region: Global
  • 111 Pages
  • Daedal Research
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Scope of the Report
The report titled “Global Heating, Ventilation and Air Conditioning (HVAC) Market: Size, Trends and Forecasts (2019-2023)”, provides an in depth analysis of the global heating, ventilation and air conditioning (HVAC) market by value, by volume, by product category, by region, etc. The report also provides a regional analysis of the HVAC market and HVAC equipment market, including the following regions: APAC, EMEA, Americas (North America) and Other Regions. The report also provides a detailed analysis of the US commercial HVAC equipment market by value and by product category.

The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global heating, ventilation and air conditioning (HVAC) market has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

The global heating, ventilation and air conditioning (HVAC) market is highly fragmented with many market players operating worldwide. Some heating, ventilation and air conditioning (HVAC) market players operating on a local level while other players operating on a regional and global level. The manufacturers of HVAC produce different types of HVAC equipment for different purpose and applications. However, the competition in the global heating, ventilation and air conditioning (HVAC) market is dominated by few HVAC market players. Further, key players of the heating, ventilation and air conditioning (HVAC) market are United Technologies Corporation (Carrier), Ingersoll-Rand plc (Trane Inc.), Johnson Controls International plc (York International), Daikin Industries Ltd. (Goodman Global, Inc.) are also profiled with their financial information and respective business strategies.

Country Coverage

  • APAC
  • EMEA
  • Americas (North America)
  • Other Regions

Company Coverage

  • United Technologies Corporation (Carrier)
  • Ingersoll-Rand plc (Trane Inc.)
  • Johnson Controls International plc (York International)
  • Daikin Industries, Ltd. (Goodman Global, Inc.)
Note: Product cover images may vary from those shown
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1. Executive Summary

2. Introduction
2.1 HVAC: An Overview
2.1.1 Purpose of HVAC System
2.2 HVAC Segmentation: An Overview
2.2.1 HVAC Segmentation by Type
2.3 Residential & Commercial HVAC: An Overview
2.3.1 Difference Between Residential & Commercial HVAC Systems
2.4 Residential HVAC Segmentation: An Overview
2.4.1 Residential HVAC Segmentation by Equipment
2.4.2 Residential HVAC Segmentation by Product Category
2.5 Commercial HVAC Segmentation: An Overview
2.5.1 Commercial HVAC Segmentation by Product Category

3. Global Market Analysis
3.1 Global HVAC Market: An Analysis
3.1.1 Global HVAC Market by Value
3.1.2 Global HVAC Market by Segments (HVAC Equipment and Aftermarket Services)
3.1.3 Global HVAC Market by Region (APAC, EMEA and Americas)
3.2 Global HVAC Market: Segment Analysis
3.2.1 Global HVAC Equipment Market by Value
3.2.2 Global HVAC Equipment Market by Type (Commercial and Residential)
3.2.3 Global HVAC Equipment Market by Region (APAC, North America and Europe)
3.2.4 Global HVAC Aftermarket Services Market by Value
3.3 Global Residential HVAC Equipment Market: An Analysis
3.3.1 Global Residential HVAC Equipment Market by Value
3.3.2 Global Residential HVAC Equipment Market by Volume
3.3.3 Global Residential HVAC Equipment Market by Product Category (Ductless/Window and Ducted/Unitary)
3.3.4 Global Ductless/Window Residential HVAC Equipment Market by Value
3.3.5 Global Ducted/Unitary Residential HVAC Equipment Market by Value
3.4 Global Commercial HVAC Equipment Market: An Analysis
3.4.1 Global Commercial HVAC Equipment Market by Value
3.4.2 Global Commercial HVAC Equipment Market by Product Category (Ductless, Applied and Ducted/Unitary)
3.4.3 Global Ductless Commercial HVAC Equipment Market by Value
3.4.4 Global Ducted/Unitary Commercial HVAC Equipment Market by Value
3.4.5 Global Applied Commercial HVAC Equipment Market by Value

4. Regional Analysis
4.1 APAC HVAC Market: An Analysis
4.1.1 APAC HVAC Market by Value
4.1.2 APAC HVAC Equipment Market by Value
4.2 EMEA HVAC Market: An Analysis
4.2.1 EMEA HVAC Market by Value
4.2.2 Europe HVAC Equipment Market by Value
4.3 Americas HVAC Market: An Analysis
4.3.1 Americas HVAC Market by Value
4.3.2 North America HVAC Equipment Market by Value
4.3.3 North America HVAC Equipment Market by Type (Residential and Commercial)
4.3.4 North America Residential HVAC Equipment Market by Value
4.3.5 North America Commercial HVAC Equipment Market by Value
4.3.6 North America Commercial HVAC Equipment Market by Region [The US and North America (Excluding the US)]
4.3.7 The US Commercial HVAC Equipment Market by Value
4.3.8 The US Commercial HVAC Equipment Market by Product Category (Ducted/Unitary, Applied and Ductless)
4.3.9 The US Ducted/Unitary Commercial HVAC Equipment Market by Value
4.3.10 The US Ductless Commercial HVAC Equipment Market by Value
4.3.11 The US Applied Commercial HVAC Equipment Market by Value
4.3.12 North America (Excluding the US) Commercial HVAC Equipment Market by Value
4.4 Other HVAC Equipment Market: An Analysis
4.4.1 Other HVAC Equipment Market by Value

5. Market Dynamics
5.1 Growth Driver
5.1.1 Surging Urban Population
5.1.2 Rising Number of New Housing Units
5.1.3 Growing Replacement Demand of HVAC Systems
5.1.4 Escalating Demand for AC/Heat Pumps for New Residential Construction
5.1.5 Increasing Demand for Smart Thermostats
5.1.6 Surging Non-Residential Construction Spending
5.2 Challenges
5.2.1 Uncertainty in the Demand for HVAC systems due to Climate Change
5.2.2 High Cost Involved
5.3 Market Trends
5.3.1 Emerging Trend of Smart Home
5.3.2 Growing Data Center
5.3.3 Increasing Government Regulations
5.3.4 Growing Popularity of Variable Refrigerant Flow (VRF)

6. Competitive Landscape
6.1 Global HVAC Equipment Players by Market Share
6.2 Global HVAC Equipment Market Players by Residential HVAC Growth Rates
6.3 Global HVAC Equipment Market Players by Commercial HVAC Growth Rates
6.4 Global Residential and Commercial HVAC Market Players
6.5 Global Residential and Commercial HVAC Market Players by New Product Launch
6.6 Global Residential and Commercial HVAC Market Players by Distribution Breakdown
6.7 Global Residential HVAC Players by Market Share
6.8 North America Residential HVAC Players by Market Share
6.9 The US Commercial Ducted/Unitary HVAC Players by Market Share

7. Company Profiles
7.1 United Technologies Corporation (Carrier)
7.1.1 Business Overview
7.1.2 Financial Overview
7.1.3 Business Strategy
7.2 Ingersoll-Rand plc (Trane Inc.)
7.2.1 Business Overview
7.2.2 Financial Overview
7.2.3 Business Strategy
7.3 Johnson Controls International plc (York International)
7.3.1 Business Overview
7.3.2 Financial Overview
7.3.3 Business Strategy
7.4 Daikin Industries, Ltd. (Goodman Global, Inc.)
7.4.1 Business Overview
7.4.2 Financial Overview
7.4.3 Business Strategy

List of Figures
Figure 1: Purpose of HVAC System
Figure 2: HVAC Segmentation by type
Figure 3: Residential HVAC Segmentation by Equipment
Figure 4: Residential HVAC Segmentation by Product Category
Figure 5: Commercial HVAC Segmentation by Product Category
Figure 6: Global HVAC Market by Value; 2016-2018 (US$ Billion)
Figure 7: Global HVAC Market by Value; 2019-2023 (US$ Billion)
Figure 8: Global HVAC Market by Segments; 2018 (Percentage, %)
Figure 9: Global HVAC Market by Region; 2018 (Percentage, %)
Figure 10: Global HVAC Equipment Market by Value; 2014-2018 (US$ Billion)
Figure 11: Global HVAC Equipment Market by Value; 2019-2023 (US$ Billion)
Figure 12: Global HVAC Equipment Market by Type; 2018 (Percentage, %)
Figure 13: Global HVAC Equipment Market by Region; 2018 (Percentage, %)
Figure 14: Global HVAC Aftermarket Services Market by Value; 2016-2018 (US$ Billion)
Figure 15: Global HVAC Aftermarket Services Market by Value; 2019-2023 (US$ Billion)
Figure 16: Global Residential HVAC Equipment Market by Value; 2015-2018 (US$ Billion)
Figure 17: Global Residential HVAC Equipment Market by Value; 2019-2023 (US$ Billion)
Figure 18: Global Residential HVAC Equipment Market by Volume; 2015-2018 (Million Units)
Figure 19: Global Residential HVAC Equipment Market by Volume; 2019-2023 (Million Units)
Figure 20: Global Residential HVAC Equipment Market by Product Category; 2018 (Percentage, %)
Figure 21: Global Ductless/Window Residential HVAC Equipment Market by Value; 2017-2018 (US$ Billion)
Figure 22: Global Ductless/Window Residential HVAC Equipment Market by Value; 2019-2023 (US$ Billion)
Figure 23: Global Ducted/Unitary Residential HVAC Equipment Market by Value; 2017-2018 (US$ Billion)
Figure 24: Global Ducted/Unitary Residential HVAC Equipment Market by Value; 2019-2023 (US$ Billion)
Figure 25: Global Commercial HVAC Equipment Market by Value; 2015-2018 (US$ Billion)
Figure 26: Global Commercial HVAC Equipment Market by Value; 2019-2023 (US$ Billion)
Figure 27: Global Commercial HVAC Equipment Market by Product Category; 2018 (Percentage, %)
Figure 28: Global Ductless Commercial HVAC Equipment Market by Value; 2017-2018 (US$ Billion)
Figure 29: Global Ductless Commercial HVAC Equipment Market by Value; 2019-2023 (US$ Billion)
Figure 30: Global Ducted/Unitary Commercial HVAC Equipment Market by Value; 2017-2018 (US$ Billion)
Figure 31: Global Ducted/Unitary Commercial HVAC Equipment Market by Value; 2019-2023 (US$ Billion)
Figure 32: Global Applied Commercial HVAC Equipment Market by Value; 2017-2018 (US$ Billion)
Figure 33: Global Applied Commercial HVAC Equipment Market by Value; 2019-2023 (US$ Billion)
Figure 34: APAC HVAC Market by Value; 2016-2018 (US$ Billion)
Figure 35: APAC HVAC Market by Value; 2019-2023 (US$ Billion)
Figure 36: APAC HVAC Equipment Market by Value; 2017-2018 (US$ Billion)
Figure 37: APAC HVAC Equipment Market by Value; 2019-2023 (US$ Billion)
Figure 38: EMEA HVAC Market by Value; 2016-2018 (US$ Billion)
Figure 39: EMEA HVAC Market by Value; 2019-2023 (US$ Billion)
Figure 40: Europe HVAC Equipment Market by Value; 2017-2018 (US$ Billion)
Figure 41: Europe HVAC Equipment Market by Value; 2019-2023 (US$ Billion)
Figure 42: Americas HVAC Market by Value; 2016-2018 (US$ Billion)
Figure 43: Americas HVAC Market by Value; 2019-2023 (US$ Billion)
Figure 44: North America HVAC Equipment Market by Value; 2017-2018 (US$ Billion)
Figure 45: North America HVAC Equipment Market by Value; 2019-2023 (US$ Billion)
Figure 46: North America HVAC Equipment Market by Type; 2018 (Percentage, %)
Figure 47: North America Residential HVAC Equipment Market by Value; 2017-2018 (US$ Billion)
Figure 48: North America Residential HVAC Equipment Market by Value; 2019-2023 (US$ Billion)
Figure 49: North America Commercial HVAC Equipment Market by Value; 2017-2018 (US$ Billion)
Figure 50: North America Commercial HVAC Equipment Market by Value; 2019-2023 (US$ Billion)
Figure 51: North America Commercial HVAC Equipment Market by Region; 2018 (Percentage, %)
Figure 52: The US Commercial HVAC Equipment Market by Value; 2015-2018 (US$ Billion)
Figure 53: The US Commercial HVAC Equipment Market by Value; 2019-2023 (US$ Billion)
Figure 54: The US Commercial HVAC Equipment Market by Product Category; 2018 (Percentage, %)
Figure 55: The US Ducted/Unitary Commercial HVAC Equipment Market by Value; 2015-2018 (US$ Billion)
Figure 56: The US Ducted/Unitary Commercial HVAC Equipment Market by Value; 2019-2023 (US$ Billion)
Figure 57: The US Ductless Commercial HVAC Equipment Market by Value; 2015-2018 (US$ Million)
Figure 58: The US Ductless Commercial HVAC Equipment Market by Value; 2019-2023 (US$ Million)
Figure 59: The US Applied Commercial HVAC Equipment Market by Value; 2015-2018 (US$ Billion)
Figure 60: The US Applied Commercial HVAC Equipment Market by Value; 2019-2023 (US$ Billion)
Figure 61: North America (Excluding the US) Commercial HVAC Equipment Market by Value; 2017-2018 (US$ Billion)
Figure 62: North America (Excluding the US) Commercial HVAC Equipment Market by Value; 2019-2023 (US$ Billion)
Figure 63: Other HVAC Equipment Market by Value; 2017-2018 (US$ Billion)
Figure 64: Other HVAC Equipment Market by Value; 2019-2023 (US$ Billion)
Figure 65: Global Urbanization Rates by Region; 2010-2040 (Percentage, %)
Figure 66: Global Number of New Housing Units; 2013-2019 (Thousand)
Figure 67: Global Replacement Rate of HVAC Systems; 2013-2019 (Percentage, %)
Figure 68: Global AC/Heat Pumps Units for New Residential Construction; 2014-2019 (Thousand Units)
Figure 69: Global Smart Thermostat Market by Volume; 2013-2018 (Million Units)
Figure 70: The US Monthly Non-Residential Construction Spending; 2013-2018 (US$ Billion)
Figure 71: Global Smart Home Market; 2017-2022 (US$ Billion)
Figure 72: Global Data Center Market; 2018-2023 (US$ Billion)
Figure 73: Global HVAC Equipment Players by Market Share; 2017 (Percentage, %)
Figure 74: Global HVAC Equipment Market Players by Residential HVAC Growth Rates; 1Q17-4Q17 (Percentage, %)
Figure 75: Global HVAC Equipment Market Players by Commercial HVAC Growth Rates; 1Q17-4Q17 (Percentage, %)
Figure 76: Global Residential HVAC Players by Market Share; 2017 (Percentage, %)
Figure 77: North America Residential HVAC Players by Market Share; 2017 (Percentage, %)
Figure 78: The US Commercial Ducted/Unitary HVAC Players by Market Share; 2017 (Percentage, %)
Figure 79: United Technologies Corporation (Carrier) Net Sales; 2014-2018 (US$ Billion)
Figure 80: United Technologies Corporation (Carrier) Net Sales by Segments; 2018 (Percentage, %)
Figure 81: United Technologies Corporation (Carrier) Net Sales by Region; 2018 (Percentage, %)
Figure 82: Ingersoll-Rand plc (Trane Inc.) Net Revenues; 2014-2018 (US$ Billion)
Figure 83: Ingersoll-Rand plc (Trane Inc.) Net Revenues by Segments; 2018 (Percentage, %)
Figure 84: Ingersoll-Rand plc (Trane Inc.) Net Revenues by Region; 2018 (Percentage, %)
Figure 85: Johnson Controls International plc (York International) Net Sales; 2014-2018 (US$ Billion)
Figure 86: Johnson Controls International plc (York International) Net Sales by Segments; 2018 (Percentage, %)
Figure 87: Johnson Controls International plc (York International) Net Sales by Region; 2018 (Percentage, %)
Figure 88: Daikin Industries, Ltd. (Goodman Global, Inc.) Net Sales; 2014-2018 (US$ Billion)
Figure 89: Daikin Industries, Ltd. (Goodman Global, Inc.) Net Sales by Segments; 2018 (Percentage, %)
Figure 90: Daikin Industries, Ltd. (Goodman Global, Inc.) Net Sales by Region; 2018 (Percentage, %)

List of Tables
Table 1: Difference Between Residential & Commercial HVAC Systems
Table 2: Global Residential and Commercial HVAC Market Players
Table 3: Global Residential and Commercial HVAC Market Players by New Product Launch
Table 4: Global Residential and Commercial HVAC Market Players by Distribution Breakdown

Note: Product cover images may vary from those shown
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HVAC stands for Heating, Ventilation and Air-conditioning. HVAC refers to the different systems used for moving air between indoor and outdoor areas, along with providing acceptable indoor air quality. These systems are also used to provide thermal comfort and maintain humidity at the optimum level.

HVAC equipment are placed in buildings to achieve heating, ventilation and cooling. HVAC equipment can be broadly categorized into two types: Residential HVAC and Commercial HVAC. Residential HVAC equipment are used in houses, whereas commercial HVAC equipment are used in commercial buildings, such as office buildings, large retail stores, warehouses and other large buildings.

HVAC equipment installed in the residential and commercial sectors are responsible for the same functions of heating, cooling and ventilation. But, there are few differences exist in the installation of HVAC systems in both the sectors. These differences are explained on the basis of structure, location, heating or cooling capacity, exhaust ventilation and maintenance cost.

The residential HVAC market can be segmented on the basis of equipment (Split Systems, Furnaces and Indoor Components) and product category (Ducted and Ductless). The commercial HVAC market can be segmented on the basis of product category (Large Applied Systems, Smaller Unitary Systems/Ducted and Ductless Systems).

The global heating, ventilation and air conditioning (HVAC) market has increased at a significant CAGR during the years 2015-2018 and projections are made that the market would rise in the next four years i.e. 2019-2023 tremendously. The heating, ventilation and air conditioning (HVAC) market is expected to increase due to surging urban population, rising number of new housing units, growing replacement demand of HVAC systems, escalating demand for AC/heat pumps for new residential construction, etc. Yet the market faces some challenges such as uncertainty in the demand for HVAC systems due to climate change, high cost involved, etc.

Note: Product cover images may vary from those shown
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  • Daikin Industries, Ltd. (Goodman Global, Inc.)
  • Ingersoll-Rand plc (Trane Inc.)
  • Johnson Controls International plc (York International)
  • United Technologies Corporation (Carrier)
Note: Product cover images may vary from those shown
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The author's core strengths include a seasoned management team, a highly demonstrable track record of seamless process integration and consistent delivery position. The research team uses its extensive knowledge of the various industries to analyze the market trends from both a vendor and an end-user perspective.

The research strategy is focused on high-quality secondary data combined with elaborate use of primary data. The team of research analysts provides a 360-degree overview of available data.

The analysts begin by searching industry reports, surveys, trade publications, company reports and press releases. They also include information gained by extensive interviews with major players and industry participants.

The background information, related to industry statistics, is provided by the author's proprietary databases.

The information is then analyzed and synthesized into a report - with market forecast, industry trends, and competitive strategies. The team of research analysts use both qualitative tools and quantitative techniques to get an insight into the industry.

The author's core expertise lies in researching, compiling and analyzing vast amounts of publicly available information and premier databases, into widely read reports.

 

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