Heating, Ventilation and Air Conditioning (HVAC), is a technological system, which is used to provide cooling and heating facilities to the building. Heating appliances like heater, furnace and heat pumps, are used to generate heat in buildings via central heating or local heating. Ventilation appliances are used to change or replace air in any building to regulate temperature. And air conditioning appliances are used in cooling of indoor air for thermal comfort. HVAC equipment is classified into two categories residential and commercial. Residential HVAC equipment is further sub-classified into ductless and unitary, while, the commercial HVAC equipment is sub-classified into ductless, unitary and applied. Main components of an HVAC are compressor, motor, duct board, coils, control, copper tubing and refrigerants.
Asia Pacific emerged as a major region for the HVAC market due to rising HVAC equipment and aftermarket & system sales by the domestic companies and high HVAC replacement rate prevailing in China, India, Australia and Korea.
The global HVAC market is expected to grow with rising global population, accumulative construction activities, growing home automation market, intensifying annual mean temperature, accelerating economic growth and mounting e-commerce retail sales. Key trends and developments of this market includes growing smart thermostat market, high demand for invertor air conditioner (AC) in China, rising HVAC replacements in the U.S., technological innovations and developments and adoption of sustainable building designs. However, there are some factors which can hinder growth of the market including raw materials prices, stringent regulations, data infrastructure system security, retail consolidations and economic and political events.
The report “Global Heating, Ventilation and Air Conditioning (HVAC) Market: Industry Analysis & Outlook (2018-2022)” by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. The report discusses the major growth drivers, key tends & developments and challenges of the market, covering Asia Pacific, the Americas along with the global market. The report profiles the key players of the market including United Technologies Corporation (Carrier), Johnson Control International Plc; (York), Daikin Industries, Ltd. and Ingersoll-Rand Plc (Trane).