LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global HVAC equipment market and the market is poised to experience spend growth of more than USD 30 billion between 2018-2023 at a CAGR of over 5% during the forecast period. Request Free Sample Pages.
Read the 122-page research report with TOC and LOE on "The Global HVAC Equipment Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”
With air pollution aggravating across the globe with the prevalence of airborne diseases, ventilation equipment such as AHUs are being installed on a priority basis at public places such as malls, hospitals, commercial buildings, hotels, and manufacturing facilities. This is bringing substantial investments in the HVAC market across the globe. Most of the HVAC equipment is aligned with energy conservation goals as suppliers are introducing innovations on the equipment to optimize the utilization of energy. This is increasing the acceptability of this equipment and is contributing to the demand growth in the HVAC market.
According to the forecasts, Europe will outpace other regions in terms of regional spend growth in the HVAC market. The advent of new technologies that facilitate predictive maintenance and energy saving done by HVAC equipment will contribute to this predicted spend growth. In North America, the rising demand for cold storage facilities from grocery and frozen food e-commerce industry will contribute to the demand growth in the HVAC market. Consumer’s preference towards solar-powered HVAC equipment as a part of their initiatives to reduce the environmental footprint of their business establishments will drive large-scale procurement in this market.
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Insights into the market pricing trends
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HVAC equipment suppliers will tackle a significant increase in their OPEX owing to the predictions of volatilities in the prices of raw materials such as aluminum. This will have a direct impact on the buyer’s procurement expenditure in the HVAC equipment market.
- The growth in the demand for smart and energy-efficient HVAC equipment and stringent government regulations on heating and cooling equipment will compel suppliers to invest heavily in R&D activities. This will have an inflationary impact on their OPEX.
What are the strategies to adopt to optimize procurement spend in this market?
The HVAC equipment price trends imply a substantial increase in suppliers’ OPEX which will result in a gradual decline in their profit margin. To compensate for this, suppliers are expected to increase the market price. In view of this, this procurement intelligence report has listed the top HVAC equipment suppliers, SLA agreement insights, and the selection and negotiation strategies that buyers must undertake to achieve optimal procurement in this market.
Engage with suppliers who have high expertise in re-engineering
Buyers, who are still heavily reliant on the conventional HVAC equipment incur significant upgrading expenses. To minimize these expenses, they are advised to collaborate with suppliers who have high re-engineering capabilities to retrofit the existing equipment with the newest and advanced features. This will aid in significant savings in the replacement expenditure for the buyers.
Perform TCO analysis before selecting preferred suppliers
Capital purchases must involve analysis of TCO, which includes the cost of HVAC equipment and maintenance expenses such as installation and spare parts costs. This helps to do an analysis of the total expense that the buyers will incur until the equipment is depreciated.
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Some of the key topics covered in this report are:
- HVAC equipment market spend segmentation by region
- Total cost of ownership analysis in the HVAC equipment market
- Regional spend opportunity for HVAC equipment suppliers
- HVAC equipment suppliers cost structures
- HVAC equipment pricing models analysis
- HVAC equipment procurement best practices
- Category management objectives
- Cost saving opportunities in the HVAC equipment market
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