DUBLIN--(BUSINESS WIRE)--The "Global HVAC Equipment Market - Segmented by Equipment Type, End-user Application, and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global HVAC equipment market was valued at USD 94.68 billion in 2017, and is expected to reach a value of USD 126.58 billion by 2023, at a CAGR of 4.96%, during the forecast period (2018-2023).
Major drivers of the global HVAC equipment market include, increase in new households, rising average construction spending, rapid urbanization, and growth in disposable income across several major economies. Growing requirement from the commercial segment and high demand for HVAC products in the Asia-Pacific region are the other key drivers of the market. However, high-energy consumption of HVAC equipment is a major factor restraining the growth of this market.
During the forecast period, vendors of HVAC equipment are expected to have revenue generation opportunities in areas related to the advancement of energy efficient systems, increasing trend of smart homes, and implementation of green technologies. One of the key concerns that global manufactures have is focusing on energy efficiency.
- Rise in Residential and Non Residential Users is Driving Market Growth
- Heating Equipment is Expected to have the Largest Market Share
- North America to Dominate the Market over the Forecast Period
Key Developments in the Market
- October 2017 - Honeywell announced its planned portfolio changes that intend to separately spin off the home product portfolio and ADI global distribution business, along with transportation system business into publicly traded companies.
- June 2017 - Carrier was named HVAC leader by 2017 BUILDER Magazine. The company was ranked as a top brand in three of the four of its subcategories.
- United Technologies Corporation
- Daikin Industries. Ltd.
- Haier Inc.
- Samsung Electronics
- Panasonic Corporation
- Lennox International Inc.
- Electrolux AB
- LG Corporation
- Emerson Electric Company
- Danfoss A/S
- Honeywell Internation
Key Topics Covered
2. Research Approach and Methodology
3. Executive Summary
4. Market Analysis
5. Market Dynamics
6. Technology Snapshot
7. Global HVAC Equipment Segmentation
8. Competitive Intelligence - Company Profiles
9. Investment Analysis
10. Future Outlook of the Market
For more information about this report visit https://www.researchandmarkets.com/research/2wdhtw/global_global?w=4