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HVAC Systems Market Size, Share & Trends Analysis Report By Product (Heating, Ventilation, Cooling), By End Use (Residential, Commercial, Industrial), By Region, And Segment Forecasts, 2020 - 2027

Published: Feb, 2020 | Pages: 144 | Publisher: Grand View Research
Industry: Construction | Report Format: Electronic (PDF)

The global HVAC systems market size is anticipated to reach USD 208.6 billion by 2027, according to a new study by Grand View Research Inc., registering a CAGR of 6.1% over the forecast period. Growing commercial sector and rapid urbanization across the globe are driving the demand for HVAC equipment. Furthermore, incentives and rebate programs offered by various governments to promote the use of energy-efficient units is anticipated to drive the market growth.

Moreover, HVAC systems are being integrated with next-generation technologies, such as IoT sensors, remote control systems, and hybrid HVAC units, to increase efficiency and reduce energy consumption. This is also anticipated to support the global market expansion over the forecast period. On the other hand, high installation and maintenance costs, coupled with complexity of retrofit HVAC installations, may hinder the market growth. However, many prominent manufacturers are investing in R&D to develop cost- and energy-efficient units, which will fuel the product demand. For instance, a California-based company developed an ice-powered air conditioner. The new system reduces the energy consumption of the building by freezing a significant amount of water overnight and offers six hours of cooling the next day.

Several residential complexes and businesses are replacing old HVAC systems with new energy-efficient units for higher performance, energy savings, and cost reduction. Moreover, remodeling or new construction of residential, commercial, or industrial buildings require HVAC systems, which is another factor driving the market growth.

Asia Pacific dominated the global market in 2019. This growth is attributed to the rising disposable income and awareness regarding energy-efficient products. Furthermore, the growing real estate sector across the region as a result of increasing population will have a positive impact on product demand. The emergence of smart buildings and government initiatives promoting the use of energy- and cost-efficient systems are also expected to boost the regional market growth.

Further key findings from the study suggest:

• Cooling systems dominated the global market in 2019 and this trend is expected to continue through the forecast period owing to the rising demand from the residential and commercial sectors

• The residential segment emerged as the leading product segment in 2019 owing to growth of the real estate sector in developing regions

• Asia Pacific dominated the global market in 2019, driven by Japan and China, which collectively contributed to more than 50.0% of the total sales in the region. This can be attributed to the high populace, rising disposable income, and improved real estate market

• Leading companies and several governments across the globe are promoting HVAC systems through endorsement labels such as ENERGY STAR for energy efficiency and incentive programs, which will boost the market growth  

• Some of the top companies in this HVAC systems market are LG Electronics, Inc.; Lennox International, Inc.; Carrier Corporation; Samsung Electronics Co. Ltd.; United Technologies Corporation; Johnson Controls International PLC; and Daikin Industries Ltd.  
 Table of Contents

Chapter 1. Methodology and Scope
                  1.1. Research Methodology
                  1.2. Research Scope and Assumptions
                  1.3. List of Data Sources
                  1.4. List of Abbreviations

Chapter 2. Executive Summary
                  2.1. Market Summary
                  2.2. HVAC Systems Market, 2016 - 2027

Chapter 3. Market Variables, Trends & Scope
                  3.1. Market Segmentation
                  3.2. HVAC Systems Market Size & Growth Prospects
                  3.3. HVAC Systems Market - Value Chain Analysis
                  3.4. HVAC Systems Market Dynamics
                      3.4.1. Market driver analysis
                          3.4.1.1. Government tax credit and rebate programs
                          3.4.1.2. The growing real estate sector
                          3.4.1.3. Increasing replacement and refurbishment demand for HVAC systems
                      3.4.2. Market challenge analysis
                          3.4.2.1. Maintenance and installing costs
                          3.4.2.2. High energy consumption
                      3.4.3. Market opportunity analysis
                          3.4.3.1. Integration of IoT with HVAC systems
                  3.5. HVAC Systems Penetration & Growth Prospects Mapping
                  3.6. HVAC Systems Market-Porter's Five Forces
                  3.7. HVAC Systems Market-PEST Analysis
                  3.8. Technology Landscape
                      3.8.1. Thermostats
                      3.8.2. Furnace
                      3.8.3. Heat exchanger
                      3.8.4. Evaporator coil
                      3.8.5. Condensing unit
                      3.8.6. Controllers
                  3.9. Regulatory Landscape
                      3.9.1. United States
                      3.9.2. Canada
                      3.9.3. Mexico
                      3.9.4. Europe
                      3.9.5. India
                      3.9.6. China
                      3.9.7. Japan
                      3.9.8. MEA

Chapter 4. HVAC Systems Product Outlook
                  4.1. HVAC Systems Market, By Product, 2019 & 2027
                  4.2. Heating
                      4.2.1. Heating HVAC systems market, 2016 - 2027
                      4.2.2. Heating HVAC systems market, by region, 2016 - 2027
                  4.3. Ventilation
                      4.3.1. Ventilation market, 2016 - 2027
                      4.3.2. Ventilation HVAC systems market, by region, 2016 - 2027
                  4.4. Cooling
                      4.4.1. Cooling HVAC systems market, 2016 - 2027
                      4.4.2. Cooling HVAC systems market, by region, 2016 - 2027

Chapter 5. HVAC Systems End Use Outlook
                  5.1. HVAC Systems Market, By End Use, 2019 & 2027
                  5.2. Residential
                      5.2.1. Residential HVAC systems market, 2016 - 2027
                      5.2.2. Residential HVAC systems market, by region, 2016 - 2027
                  5.3. Commercial
                      5.3.1. Commercial HVAC systems market, 2016 - 2027
                      5.3.2. Commercial HVAC systems market, by region, 2016 - 2027
                  5.4. Industrial
                      5.4.1. Industrial HVAC systems market, 2016 - 2027
                      5.4.2. Industrial HVAC systems market, by region, 2016 - 2027

Chapter 6. HVAC Systems Regional Outlook
                  6.1. HVAC Systems Market, By Region, 2019 & 2027
                  6.2. North America
                      6.2.1. North America HVAC systems market, 2016 - 2027
                      6.2.2. North America HVAC systems market, by product, 2016 - 2027
                      6.2.3. North America HVAC systems market, by end use, 2016 - 2027
                      6.2.4. U.S.
                          6.2.4.1. U.S. HVAC systems market, 2016 - 2027
                          6.2.4.2. U.S. HVAC systems market, by product, 2016 - 2027
                          6.2.4.3. U.S. HVAC systems market, by end use, 2016 - 2027
                      6.2.5. Canada
                          6.2.5.1. Canada HVAC systems market, 2016 - 2027
                          6.2.5.2. Canada HVAC systems market, by product, 2016 - 2027
                          6.2.5.3. Canada HVAC systems market, by end use, 2016 - 2027
                      6.2.6. Mexico
                          6.2.6.1. Mexico HVAC systems market, 2016 - 2027
                          6.2.6.2. Mexico HVAC systems market, by product, 2016 - 2027
                          6.2.6.3. Mexico HVAC systems market, by end use, 2016 - 2027
                  6.3. Europe
                      6.3.1. Europe HVAC systems market, 2016 - 2027
                      6.3.2. Europe HVAC systems market, by product, 2016 - 2027
                      6.3.3. Europe HVAC systems market, by end use, 2016 - 2027
                      6.3.4. U.K.
                          6.3.4.1. U.K. HVAC systems market, 2016 - 2027
                          6.3.4.2. U.K. HVAC systems market, by product, 2016 - 2027
                          6.3.4.3. U.K. HVAC systems market, by end use, 2016 - 2027
                      6.3.5. Germany
                          6.3.5.1. Germany HVAC systems market, 2016 - 2027
                          6.3.5.2. Germany HVAC systems market, by product, 2016 - 2027
                          6.3.5.3. Germany HVAC systems market, by end use, 2016 - 2027
                      6.3.6. Italy
                          6.3.6.1. Italy HVAC systems market, 2016 - 2027
                          6.3.6.2. Italy HVAC systems market, by product, 2016 - 2027
                          6.3.6.3. Italy HVAC systems market, by end use, 2016 - 2027
                      6.3.7. Spain
                          6.3.7.1. Spain HVAC systems market, 2016 - 2027
                          6.3.7.2. Spain HVAC systems market, by product, 2016 - 2027
                          6.3.7.3. Spain HVAC systems market, by end use, 2016 - 2027
                      6.3.8. France
                          6.3.8.1. France HVAC systems market, 2016 - 2027
                          6.3.8.2. France HVAC systems market, by product, 2016 - 2027
                          6.3.8.3. France HVAC systems market, by end use, 2016 - 2027
                  6.4. Asia Pacific
                      6.4.1. Asia Pacific HVAC systems market, 2016 - 2027
                      6.4.2. Asia Pacific HVAC systems market, by product, 2016 - 2027
                      6.4.3. Asia Pacific HVAC systems market, by end use, 2016 - 2027
                      6.4.4. India
                          6.4.4.1. India HVAC systems market, 2016 - 2027
                          6.4.4.2. India HVAC systems market, by product, 2016 - 2027
                          6.4.4.3. India HVAC systems market, by end use, 2016 - 2027
                      6.4.5. China
                          6.4.5.1. China HVAC systems market, 2016 - 2027
                          6.4.5.2. China HVAC systems market, by product, 2016 - 2027
                          6.4.5.3. China HVAC systems market, by end use, 2016 - 2027
                      6.4.6. Japan
                          6.4.6.1. Japan HVAC systems market, 2016 - 2027
                          6.4.6.2. Japan HVAC systems market, by product, 2016 - 2027
                          6.4.6.3. Japan HVAC systems market, by end use, 2016 - 2027
                      6.4.7. South Korea
                          6.4.7.1. South Korea HVAC systems market, 2016 - 2027
                          6.4.7.2. South Korea HVAC systems market, by product, 2016 - 2027
                          6.4.7.3. South Korea HVAC systems market, by end use, 2016 - 2027
                      6.4.8. Australia
                          6.4.8.1. Australia HVAC systems market, 2016 - 2027
                          6.4.8.2. Australia HVAC systems market, by product, 2016 - 2027
                          6.4.8.3. Australia HVAC systems market, by end use, 2016 - 2027
                  6.5. South America
                      6.5.1. South America HVAC systems market, 2016 - 2027
                      6.5.2. South America HVAC systems market, by product, 2016 - 2027
                      6.5.3. South America HVAC systems market, by end use, 2016 - 2027
                      6.5.4. Brazil
                          6.5.4.1. Brazil HVAC systems market, 2016 - 2027
                          6.5.4.2. Brazil HVAC systems market, by product, 2016 - 2027
                          6.5.4.3. Brazil HVAC systems market, by end use, 2016 - 2027
                      6.5.5. Argentina
                          6.5.5.1. Argentina HVAC systems market, 2016 - 2027
                          6.5.5.2. Argentina HVAC systems market, by product, 2016 - 2027
                          6.5.5.3. Argentina HVAC systems market, by end use, 2016 - 2027
                      6.5.6. Chile
                          6.5.6.1. Chile HVAC systems market, 2016 - 2027
                          6.5.6.2. Chile HVAC systems market, by product, 2016 - 2027
                          6.5.6.3. Chile HVAC systems market, by end use, 2016 - 2027
                  6.6. MEA
                      6.6.1. MEA HVAC systems market, 2016 - 2027
                      6.6.2. MEA HVAC systems market, by product, 2016 - 2027
                      6.6.3. MEA HVAC systems market, by end use, 2016 - 2027

Chapter 7. Competitive Landscape
                  7.1. LG Electronics, Inc.
                      7.1.1. Company overview
                      7.1.2. Financial performance
                      7.1.3. Product benchmarking
                      7.1.4. Strategic initiatives
                  7.2. Lennox International, Inc.
                      7.2.1. Company overview
                      7.2.2. Financial performance
                      7.2.3. Product benchmarking
                      7.2.4. Strategic initiatives
                  7.3. Carrier Corporation
                      7.3.1. Company overview
                      7.3.2. Financial performance
                      7.3.3. Product benchmarking
                      7.3.4. Strategic initiatives
                  7.4. Samsung Electronics Co. Ltd.
                      7.4.1. Company overview
                      7.4.2. Financial performance
                      7.4.3. Product benchmarking
                      7.4.4. Strategic initiatives
                  7.5. AB Electrolux
                      7.5.1. Company overview
                      7.5.2. Financial performance
                      7.5.3. Product benchmarking
                      7.5.4. Strategic initiatives
                  7.6. United Technologies Corporation
                      7.6.1. Company Overview-
                      7.6.2. Financial Performance
                      7.6.3. Product Benchmarking
                      7.6.4. Recent Developments
                  7.7. Haier Group
                      7.7.1. Company overview
                      7.7.2. Financial performance
                      7.7.3. Product benchmarking
                      7.7.4. Recent developments
                  7.8. Havells India Ltd.
                      7.8.1. Company Overview
                      7.8.2. Financial Performance
                      7.8.3. Product Benchmarking
                      7.8.4. Recent developments
                  7.9. Hitachi Ltd.
                      7.9.1. Company Overview
                      7.9.2. Financial Performance
                      7.9.3. Product Benchmarking
                      7.9.4. Recent Developments
                  7.10. Emerson Electric Co.
                      7.10.1. Company overview
                      7.10.2. Financial performance
                      7.10.3. Product benchmarking
                      7.10.4. Strategic initiatives
                  7.11. Rheem Manufacturing Company
                      7.11.1. Company overview
                      7.11.2. Financial performance
                      7.11.3. Product benchmarking
                      7.11.4. Strategic initiatives.
                  7.12. Mitsubishi Electric US, Inc.
                      7.12.1. Company overview
                      7.12.2. Financial performance
                      7.12.3. Product benchmarking
                      7.12.4. Strategic initiatives
                  7.13. Daikin Industries, Ltd.
                      7.13.1. Company overview
                      7.13.2. Financial performance
                      7.13.3. Product benchmarking
                      7.13.4. Strategic initiatives
                  7.14. Johnson Controls International plc
                      7.14.1. Company overview
                      7.14.2. Financial performance
                      7.14.3. Product benchmarking
                      7.14.4. Strategic initiatives
                  7.15. Trane, Inc.
                      7.15.1. Company overview
                      7.15.2. Financial performance
                      7.15.3. Product benchmarking
                      7.15.4. Strategic initiatives
List of Tables

Table 1 List of Abbreviations
Table 2 HVAC systems market, 2016 - 2027 (USD Billion)
Table 3 HVAC systems market, by region, 2016 - 2027 (USD Billion)
Table 4 HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 5 HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 6 Heating HVAC systems market, 2016 - 2027 (USD Billion)
Table 7 Heating HVAC systems market, by region, 2016 - 2027 (USD Billion)
Table 8 Ventilation HVAC systems market, 2016 - 2027 (USD Billion)
Table 9 Ventilation HVAC systems market, by region, 2016 - 2027 (USD Billion)
Table 10 Cooling HVAC systems market, 2016 - 2027 (USD Billion)
Table 11 Cooling HVAC systems market, by region, 2016 - 2027 (USD Billion)
Table 12 Residential HVAC systems market, 2016 - 2027 (USD Billion)
Table 13 Residential HVAC systems market, by region, 2016 - 2027 (USD Billion)
Table 14 Commercial HVAC systems market, 2016 - 2027 (USD Billion)
Table 15 Commercial HVAC systems market, by region, 2016 - 2027 (USD Billion)
Table 16 Industrial HVAC systems market, 2016 - 2027 (USD Billion)
Table 17 Industrial HVAC systems market, by region, 2016 - 2027 (USD Billion)
Table 18 North America HVAC systems market, 2016 - 2027 (USD Billion)
Table 19 North America HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 20 North America HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 21 U.S. HVAC systems market, 2016 - 2027 (USD Billion)
Table 22 U.S. HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 23 U.S. HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 24 Canada HVAC systems market, 2016 - 2027 (USD Billion)
Table 25 Canada HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 26 Canada HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 27 Mexico HVAC systems market, 2016 - 2027 (USD Billion)
Table 28 Mexico HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 29 Mexico HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 30 Europe HVAC systems market, 2016 - 2027 (USD Billion)
Table 31 Europe HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 32 Europe HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 33 U.K. HVAC systems market, 2016 - 2027 (USD Billion)
Table 34 U.K. HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 35 U.K. HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 36 Germany HVAC systems market, 2016 - 2027 (USD Billion)
Table 37 Germany HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 38 Germany HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 39 Italy HVAC systems market, 2016 - 2027 (USD Billion)
Table 40 Italy HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 41 Italy HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 42 Spain HVAC systems market, 2016 - 2027 (USD Billion)
Table 48 France HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 49 France HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 43 Spain HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 4 France HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 49 France HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 44 Spain HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 48 France HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 49 France HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 45 France HVAC systems market, 2016 - 2027 (USD Billion)
Table 46 France HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 47 France HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 48 Asia Pacific HVAC systems market, 2016 - 2027 (USD Billion)
Table 49 Asia Pacific HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 50 Asia Pacific HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 51 India HVAC systems market, 2016 - 2027 (USD Billion)
Table 52 India HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 53 India HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 54 China HVAC systems market, 2016 - 2027 (USD Billion)
Table 55 China HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 56 China HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 57 Japan HVAC systems market, 2016 - 2027 (USD Billion)
Table 58 Japan HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 59 Japan HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 60 South Korea HVAC systems market, 2016 - 2027 (USD Billion)
Table 61 South Korea HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 62 South Korea HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 63 Australia HVAC systems market, 2016 - 2027 (USD Billion)
Table 64 Australia HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 65 Australia HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 66 South America HVAC systems market, 2016 - 2027 (USD Billion)
Table 67 South America HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 68 South America HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 69 Brazil HVAC systems market, 2016 - 2027 (USD Billion)
Table 70 Brazil HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 71 Brazil HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 72 Argentina HVAC systems market, 2016 - 2027 (USD Billion)
Table 73 Argentina HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 74 Argentina HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 75 Chile HVAC systems market, 2016 - 2027 (USD Billion)
Table 76 Chile HVAC systems market, by product, 2016 - 2027 (USD Billion)
Table 77 Chile HVAC systems market, by end use, 2016 - 2027 (USD Billion)
Table 78 MEA HVAC systems market, 2016 - 2027 (USD Billion)
Table 79 MEA HVAC systems market, by application, 2016 - 2027 (USD Billion)
Table 80 MEA HVAC systems market, by service, 2016 - 2027 (USD Billion)
Table 81 MEA HVAC systems market, by service, 2016 - 2027 (USD Billion) 


List of Figures

Fig. 1 HVAC systems market, 2016 (USD Billion)
Fig. 2 HVAC systems market segment
Fig. 3 HVAC systems market, 2016 - 2027 (USD Billion)
Fig. 4 Value chain analysis
Fig. 5 HVAC systems market driver impact
Fig. 6 HVAC systems market challenge impact
Fig. 7 HVAC systems penetration & growth prospects mapping
Fig. 8 HVAC systems market - Porter's analysis
Fig. 9 HVAC market - PESTEL analysis
Fig. 10 HVAC systems market, by product, 2019 & 2027 (USD Billion)
Fig. 11 HVAC systems market, by end use, 2019 & 2027 (USD Billion)
Fig. 12 HVAC systems market, by region, 2019 & 2027
Fig. 13 North America HVAC systems market - Key takeaways
Fig. 14 Europe HVAC market - Key takeaways
Fig. 15 Asia Pacific HVAC systems market - Key takeaways
Fig. 16 South America HVAC systems market - Key takeaways
Fig. 17 MEA HVAC systems market - Key takeaways

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