The Air-Conditioning Equipment by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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https://www.thebusinessresearchcompany.com/report/airconditioning-equipment-global-market-report
According to The Business Research Company’s Air-Conditioning Equipment, The air-conditioning equipment market size has grown strongly in recent years. It will grow from $209.74 billion in 2023 to $220.94 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to expanding construction industry, the rising urbanization, the rise in demand for air conditioners and the rising disposable income.
The air-conditioning equipment market size is expected to see strong growth in the next few years. It will grow to $275.47 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to the rising global temperatures, the increasing demand for energy-efficient solutions and government regulations and initiatives. Major trends in the forecast period include focus on wind-free technology, smart and connected technologies, sustainable refrigerants and mergers and acquisitions.
Increasing urbanization and industrialization are projected to boost the demand for air-conditioning equipment during the forecast period. The surge in urban population and the growing number of industrial activities are expected to generate a high requirement for HVAC equipment including air-conditioning equipment. According to the publication by Our World In Data, people living in urban areas worldwide are projected to reach about 7 billion people by the end of 2050. Moreover, according to United Nations-Habitat’s World Cities Report 2022, the urbanization in is predicted to grow to 675 million in 2035, which is the 2nd highest behind China’s 1 billion urban population. Therefore, rapid urbanization is driving the growth of the air-conditioning equipment market.
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The air-conditioning equipment market covered in this report is segmented –
1) By Product Type: Unitary Air Conditioners, Room Air Conditioners, Packaged Terminal Air Conditioners, Other Product Types
2) By Components: Refrigerant, Compressor, Condenser Coil, Expansion Valve, Evaporator Coil
3) By Application: Residential, Commercial, Industrial
The development of sustainable systems is a key trend in the air-conditioning equipment market. Sustainable systems such as solar-powered air-conditioning equipment are becoming more popular as people look for ways to reduce their carbon footprint. Major companies in the market are focusing on developing such systems. For instance, in October 2022, iAIRE, LLC, a US-based HVAC equipment manufacturer, launched its patented solar HVAC for homes and businesses across all industries in the USA in order to provide Americans access to high-quality and energy-saving resources. The system has cost savings on equipment, installation, and operations and also works up to 50% more effectively than other systems.
The air-conditioning equipment market report table of contents includes:
1. Executive Summary
2.Air-Conditioning Equipment Market Characteristics
3.Air-Conditioning Equipment Market Trends And Strategies
4. Air-Conditioning Equipment Market analysis
5.Air-Conditioning Equipment Market Size And Growth
6.Air-Conditioning Equipment Segmentation
7.Air-Conditioning Equipment Regional And Country Analysis
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27.Air-Conditioning Equipment Competitive Landscape And Company Profiles
28.Air-Conditioning Equipment Key Mergers And Acquisitions
29.Air-Conditioning Equipment Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Daikin Industries Ltd.
- Midea Group Co. Ltd.
- Haier Group
- Carrier Global Corporation
- Hitachi Ltd.
- Samsung Electronics
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Research Nester published a report titled “Heat, Ventilation and Air-Conditioning (HVAC) Equipment Market: Global Demand Analysis & Opportunity Outlook 2029”which delivers detailed overview of the global heat, ventilation and air-conditioning (HVAC) equipment market in terms of market segmentation by equipment type, application, and by region.Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.The HVAC equipment market is projected to grow at a notable CAGR during the forecast period, i.e., 2021-2029, on the back of rapid urbanization and the rising trend of smart homes and workspaces since the past few years.
Along with these, the unpredictable changes in weather and the rise in temperature globally are another factors projected to promote the usage of ventilation and cooling equipment, which in turn is anticipated to boost the growth of the market in the future.Get Exclusive Sample Report Data Of This Report @ https://www.researchnester.com/sample-request-58On the basis of equipment type, the global HVAC equipment market is segmented into heating, ventilation, and cooling equipment, out of which the cooling equipment segment is anticipated to occupy a noteworthy market share during the forecast period, owing to the intensifying demand for these systems for industrial and commercial infrastructural activities, and their effectiveness to manage temperature in a short period of time.Geographically, the heat, ventilation and air-conditioning (HVAC) equipment market is segmented into five major regions, namely North America, Europe, Asia Pacific, Latin America and the Middle East & Africa.
This growth can be attributed to rising industrialization and the high demand for installing comfortable air conditioning systems in the region.
As per our analysis, the industrial production in China witnessed a major hike in the beginning of 2021, depicting a whopping growth by 28%.Increasing Demand for Energy Efficient HVAC EquipmentOwing to the growing emphasis of governments of several nations to further the use of energy efficient equipment in commercial and residential spaces is evaluated as one of the leading causes to drive market growth during the forecast period.
Furthermore, the emergence of technologies, including, Internet of Things (IoT) and remote control access are estimated to provide new opportunities for the development of advanced HVAC equipment, therefore boosting the demand for these systems in the coming years.However, the high cost of raw materials needed for manufacturing HVAC equipment is expected to operate as key restraint to the growth of the market till the end of 2029.This report also provides the existing competitive scenario of some of the key players of the heat, ventilation and air-conditioning (HVAC) equipment market which includes company profiling of DAIKIN INDUSTRIES (TYO: 6367), Johnson Controls, Inc. (NYSE: JCI), LG Electronics (KRX: 066570), Electrolux Home Products, Inc. (STO: ELUX-B), Ingersoll Rand Inc. (NYSE: TT), Honeywell International Inc. (NYSE: HON), Mitsubishi Electric Corporation (TYO: 8058), Raytheon Technologies Corporation (NYSE: RTX), Nortek Air Management, Carrier Global Corporation (NYSE: CARR), and others.Get Exclusive Sample Report Data Of This Report @ https://www.researchnester.com/sample-request-58The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global heat, ventilation and air-conditioning (HVAC) equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
