The HVAC Systems Market Worth $ 271.5 Billion By 2026
CHICAGO, December 13, 2021 / PRNewswire / – According to a research report HVAC Systems with COVID-19 Impact Market, by Cooling Equipment, Heating Equipment, Ventilation Equipment, Type of Implementation, Application (Residential, Commercial, Industrial) and Region (North America, Europe, APAC, RoW) – Global forecasts to 2026 “, published by MarketsandMarkets ™, the market size for HVAC systems is estimated at $ 197.0 billion in 2021 and should reach $ 271.5 billion by 2026; it is expected to grow at a CAGR of 6.6% from 2021 to 2026.
Request the PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=202111288
The constant efforts to develop next generation low global warming potential refrigerants for HVAC systems are expected to be the main growth opportunity for market players.
The HVAC systems market includes major level I and II players like DAIKIN INDUSTRIES (Japan), Johnson Controls (US), Carrier (US), Trane Technologies plc, (US), LG Electronics (South Korea), and others. These players have a strong presence in the HVAC systems market in various countries in North America, Europe, APAC and ROW.
Growing demand for energy efficient solutions
The growing need for energy efficient and sustainable buildings is expected to propel the growth of the HVAC systems market during the forecast period. Residential, commercial and industrial buildings use heating, cooling or air conditioning technologies to achieve thermal comfort and satisfactory levels of indoor air quality. Variations in climate change have led to the increasing demand for cooling and heating systems. Long-term climate change is the main reason for the increase in energy consumption to meet the cooling demand of buildings, which increases the load on air conditioners. The energy consumed by this equipment varies depending on the ambient temperature and humidity conditions.
Unit air conditioners are expected to hold the highest market share during the forecast period
Split air conditioners hold the majority of the unit air conditioner market. The increasing demand for split air conditioners in APAC is expected to drive the market growth. Unit air conditioners offer high energy efficiency and cooling capacity and are best suited for retail stores, offices, government buildings and school buildings. Increased spending on energy efficient systems and government grants and rebate programs is expected to boost demand for unit air conditioners during the forecast period.
Business applications to hold the largest market size of the HVAC systems market during the forecast period
The business applications segment is expected to hold the largest market share during the forecast period. The office segment is expected to hold the largest size of the commercial HVAC systems market by 2026. HVAC systems provide proper temperature and ventilation conditions in offices, which helps in improving employee productivity, working conditions and prevent health problems resulting from poor humidity. levels. Thus, the adoption of HVAC systems is expected to increase in office buildings. Moreover, increased investment by governments for construction of commercial space is also expected to propel the market growth of HVAC systems for commercial applications.
Browse the table of contents in depth on “HVAC Systems Market”
190 – Tables
58 – Figures
235 – Pages
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=202111288
The APAC HVAC Systems Market will hold the highest market share during the forecast period
APAC is expected to dominate the global HVAC systems market. China held the largest market size for HVAC systems in APAC in 2020. Rapid industrialization and urbanization have created the need to conserve energy. The Chinese government is promoting the efficient use of energy, which is expected to boost demand for energy efficient HVAC systems. India is one of the largest emitters of greenhouse gases in the world due to its rapid industrialization. Growing concern about the effect of environmental pollution has increased the adoption of HVAC systems in the country. Several policies, laws and government regulatory associations in the APAC region support the adoption of HVAC systems.
DAIKIN INDUSTRIES (Japan), Johnson Controls (US), Carrier (US), Trane Technologies plc, (US), LG Electronics (South Korea), Emerson Electric Co. (United States), Honeywell International Inc. (United States), Mitsubishi Electric Corporation (Japan), Nortek Air Management (United States), Samsung Electronics (South Korea), Danfoss (Denmark), FUJITSU (Japan), GREE (China), Hitachi (Japan), Midea (China), Panasonic (Japan), Haier Smart Home (China), Toshiba (Japan), Whirlpool (United States), Siemens (Germany), Electrolux (Sweden), Lennox (United States), Schneider Electric (France), Ferroli (Italy) and Bosch Thermotechnology (Germany) are among the many players in the HVAC systems market.
COVID-19 Impact Building Automation Systems Market by Communication Technology, Offering (Facility Management Systems, Security and Access Controls, and Fire Protection Systems), Application, Region – Global Forecast to in 2026
HVAC Controls Market with COVID-19 Impact by System (Temperature, Integrated Controls), Component (Sensors, Controllers, and Controlled Devices), Type of Implementation (New Construction, Retrofit), Application, and Geography – Global Forecast to 2025
About MarketsandMarkets ™
MarketsandMarkets ™ provides quantified B2B research on 30,000 high growth niche opportunities / threats that will impact 70% to 80% of global business revenues. Currently serving 7,500 clients worldwide, including 80% of global Fortune 1000 companies as clients. Nearly 75,000 senior executives in eight industries around the world approach MarketsandMarkets ™ for their income decision issues.
Our 850 full-time analysts and SMEs at MarketsandMarkets ™ monitor high-growth global markets according to the Growth Engagement Model – GEM. The GEM aims to proactively collaborate with clients to identify new opportunities, identify the most important clients, write “Attack, Avoid and Defend” strategies, identify additional sources of revenue for the company and its competitors. MarketsandMarkets ™ now offers 1,500 MicroQuadrants (positioning the best players among leaders, emerging companies, innovators, strategic players) each year in emerging high growth segments. MarketsandMarkets ™ is committed to benefiting over 10,000 companies this year for revenue planning and helping them bring their innovations / disruptions to market early by providing them with cutting edge research.
MarketsandMarkets’ flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for a deeper understanding of unfulfilled information as well as market size and forecasts of niche markets.
Mr. Ashish Mehra
Markets and Markets ™ INC.
630 Dundee Road
Northbrook, Illinois 60062
United States: + 1-888-600-6441
E-mail: [email protected]
Research overview: https://www.marketsandmarkets.com/ResearchInsight/hvac-system-market.asp
Visit our website: https://www.marketsandmarkets.com
Source of content: https://www.marketsandmarkets.com/PressReleases/hvac-system.asp
SOURCE Markets and Markets