DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Growth Opportunities in the Global HVAC Equipment Market" report to their offering.
The global HVAC equipment market is expected to reach an estimated $120.6 billion by 2022 and it is forecast to grow at a CAGR of 4.9% from 2017 to 2022.
The future of the global heating, ventilation, and air conditioning (HVAC) market looks good with opportunities in the residential and commercial construction industries. The major drivers of growth are increasing disposable income, rapidly increasing construction activities in developing economies, and changing climate conditions.
The report forecasts that room AC is expected to show above average growth during the forecast period of 2017 to 2022 due to urbanization and increasing disposable income in emerging economies like China and India.
Emerging trends, which have a direct impact on the dynamics of the market, include the increasing usage of green HVAC, increasing usage of air purification technology, and increasing usage of smart thermostat.
Within the global HVAC equipment market, residential is expected to remain the largest segment during the forecast period. Increasing penetration of air conditioners and strong growth in construction industry are the major driving forces that will spur growth for this segment over the forecast period.
APAC is expected to remain the largest region due to the increasing rate of urbanization, along with growth in disposable income.
HVAC equipment companies profiled in this market report include Gree Electric Appliances, GD Midea group, Daikin Industries, Ingersoll Rand Plc, and UTC (United Technology and Corporation).
Scope of the Report
HVAC equipment market by Product Type [Volume (million units) and Value ($ billion) from 2011 to 2022]:
- Heat Pump
- Central AC
- Room AC
HVAC equipment market by End Use [Volume (million units) and Value ($ billion) from 2011 to 2022]:
- AAON, Inc.
- Daikin Industries, Ltd.
- GD Midea Co. Ltd.
- Gree Electric Appliances Inc. of Zhuhai
- Ingersoll-Rand plc
- Lennox International Inc.
- United Technologies Corporation
- Voltas Limited
For more information about this report visit http://www.researchandmarkets.com/research/skzvpz/growth