New Market Study, Report "HVAC Equipment Market 2019 Global Market Opportunities, Growth Drivers, Challenges, Strategies and Forecasts 2025" Has been Added.
PUNE, MAHARASHTRA, INDIA, November 21, 2019 /EINPresswire.com/ — HVAC Equipment Market 2019-2025
New Market Study, Report "HVAC Equipment Market 2019 Global Market Demand, Opportunities, Growth Drivers, Challenges, Strategies and Forecasts 2025" Has been Added on WiseGuyReports.com.
This report provides in depth study of “HVAC Equipment Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The HVAC Equipment Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.
HVAC is the abbreviation with H standing for heating, V for ventilation and AC for air conditioning. HVAC equipment are typically installed in buildings to monitor and control indoor atmosphere. It also serves additional purposes such as improving quality of indoor air. These systems usually comprise of heat pumps to serve hot water,air or steam which is further disseminated via pipes. A ventilation system is used to control humidity and odors. They also have heat recovery system with ventilators, that cools room using outside air. Overall, HVAC equipment are ideal for heating, cooling and controlling humidity in commercial and residential buildings.
The HVAC equipment market globally is valued at $172.59 Billion in 2018 and is predicted to reach figures of $242.59 Billion by 2024, with strong CAGR of 7.6% between 2019-2024
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When it comes about the key players of the industry, the names like Carrier, DAIKIN INDUSTRIES, Ingersoll Rand, Johnson Controls, LG Electronics, etc.
HVAC equipment is segmented by heating equipment, ventilation equipment, cooling equipment, general components, implementation type, end user and region.
Based upon heating equipment, the HVAC equipment market is categorized as
Based upon ventilation equipment, the HVAC equipment market is categorized as
Air handling units
Based upon cooling equipment, the HVAC equipment market is categorized as
Room Air Conditioners
Unitary Air Conditioners
Split Air Conditioners
Packaged Air Conditioners
Based upon general components, the HVAC equipment market is categorized as
Based upon implementation type, the HVAC equipment market is categorized as
Based upon end user, the HVAC equipment market is categorized as
Residential and Commercial
Based upon region, the HVAC equipment market is categorized as
Middle East & Africa
North America is a major market for HVAC Equipment worldwide. The HVAC equipment demand in the United States is expected to clock tremendous growth. Technical Advancements are anticipated to result in rapid market gains, with major expenditure in the fields of construction. The need for retrofit HVAC, is another major contributor to the overall growth. There is also an increased demand for innovative and sophisticated HVAC equipment solutions.
Asia Pacific is expected to be the fastest growing market for HVAC equipment. With emerging economies and increased industrial activity in the region, the demand for HVAC equipment is set to grow at an exponential rate in the region. China, Japan and India are leading markets in the region and has a tremendous scope for growth in the next five years.
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With the onset of Global Warming, the demand for cooling units have quadrupled over last few years. With average temperatures rising every year, the need for centralized cooling in commercial and industrial sector is a necessity for optimum working conditions.
Other factors such as rising population, rapid urbanization, population boom and increase in disposable income are further boosting the market for HVAC equipment.
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Source: EIN Presswire