The global HVAC equipment industry is expected to reach an estimated$105.7 billion by 2019. The major drivers of heating, ventilation, and air-conditioning (HVAC) equipment industry are growing urbanization, rising disposable income, replacement needs, strict energy regulations, and technological innovations. Rising disposable income, low ownership rate in Asia Pacific region, continuous growth in residential and commercial construction activities in China and India, and rising consumer spending on luxury goods and services will drive the demand for HVAC system.
Lucintel, a leading global management consulting and market research firm, has analyzed the global HVAC equipment industry by segments and region and has come up with a comprehensive research report “Global HVAC equipment Industry 2014-2019: Trend, Forecast, and Opportunity Analysis.” This report provides an analysis of the global HVAC equipment industry including analysis of the market trend, competitive landscape, company profiles, mergers and acquisitions, emerging trends, and key drivers of industry growth. The study also includes global forecast for HVAC equipment through 2019, segmented by region and end user segments such as residential HVAC equipment and commercial HVAC equipment.
On the basis of its comprehensive research, Lucintel forecasts that majority of the segments for HVAC equipment industry will grow moderately in 2014-2019. Residential HVAC equipment market will remain strong due to increasing demand from Chinaand India. The commercial HVAC segment is growing at a healthy rate with expansion of healthcare sector, retail stores, and educational building construction activities around the world. Developed countries such as Japan, USA as well as the European countries are also likely to witness a substantial growth in global HVAC equipment industry. HVAC equipment manufacturers are continuously adopting new technologies to gain market share in this industry. Innovation in equipment technology would further enhance the demand for this industry. Gree Electric Appliances Inc., GD Midea, United Technologies Corporation, Daikin Industries Ltd., Lennox International Inc., Samsung etc. are major players of the global HVAC equipment industry. Regular innovation of products is very important for companies to sustain their successful position in the market.
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