This market research report presents a detailed segmentation of the global HVAC market by application (HVAC equipment, HVAC services) and by geography (the Americas, APAC, and EMEA). The leading vendors in the market are Carrier, Daikin, Ingersoll-Rand, Johnson Controls, and LG.
Technavio’s market research analysts estimate the global commercial HVAC market, to grow at a CAGR of more than 6% between 2016 and 2020. Rapid instances of construction activities across the globe has boosted the demand for HVAC equipment and services. Moreover, innovations in building design and growing focus on energy efficiency is expected to accelerate the growth of HVAC market in the coming years. APAC dominates the commercial HVAC market, occupying nearly 45% of the overall market share. Substantial investments in the commercial real estate industry in APAC will accelerate the growth of commercial HVAC market during the forecast period. China is expected to retain its leadership in the market until the end of 2020.
The new market research report from Technavio provides a breakdown and analysis of the HVAC segments by technology.
“The integration of building automation systems (BAS) and HVAC on a single platform will enable HVAC systems to deliver an efficient performance. For example, BAS can efficiently utilize power and heating/cooling solutions based on the log-in and log-out schedules of employees in an office or factory. Combining these technologies will result in considerable energy savings, paving the way for sustainable development. The increasing need for energy saving and the urgency to adopt new sustainable technologies will aid in the growth of this market,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research
Currently, the HVAC equipment segment dominates this market and account for a market share of more than 68%. Factors like a rapid urbanization and industrialization and increase in construction expenditure will aid in the growth of this segment until the end of 2020.
The key vendors in the global commercial HVAC market are Carrier, Daikin, Ingersoll-Rand, Johnson Controls, and LG. This market is diversified with the presence of several international and regional vendors. Many regional vendors provide customized HVAC systems at lower prices than international players to increase their market presence. But these vendors find it difficult to compete with international suppliers in terms of cost, features, quality, and functionality. The market competition is expected to intensify during the forecast period with an increase in product extensions, technological innovations, and mergers and acquisitions.
A more detailed analysis is available in the Technavio report Global Commercial HVAC Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
