Global Commercial HVAC Market by Product Types (Heating, Ventilation, Cooling, and Other services), End-user (Residential, Commercial, Industrial, and Others), and Regions (Asia Pacific, Europe, North America, the Middle East & Africa, and Latin Ameri

The global commercial HVAC market is expected to reach USD 29.40 billion by 2026, expanding at a CAGR of around 6% during the forecast period, 2020 – 2026.

The heating, ventilation, and air conditioning (HVAC) market is increasing rapidly owing to certain factors such as rising disposable incomes in the growing economies and increasing spending in the construction sector. Several consumers consider HVAC equipment as a beneficial investment in severe climatic conditions such as rise in temperature and unpredictable climatic change. Get Free Sample Before Purchasing

Market Drivers, Restraints, Opportunities, and Trends:

• Surging demand from the growth of data center market due to the availability of highly sensitive electronic components is expected to propel the market. This will help in avoiding equipment failures by maintaining temperature, airflow, humidity, and cleanliness.
• Growing need for managing significant amount of heat dissipations by equipment and machines are assisting the growth of the commercial HVAC market.
• High installation and maintenance cost coupled with high energy consumption & other operational challenges are the restraining factors which can hinder the growth of the market.
• Increasing adoption of precision air conditioners over conventional cooling techniques with the help of factors such as growth of hyper scale data and increase in rack level are set to provide lucrative opportunities to the market.
• Emerging technologies such as IoT, remote control access, and automated control systems are the rending factors which help in the detection and automatically controlling the temperature or fan speed to provide maximum comfort.

Scope of the Report

The report on the Global Commercial HVAC Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report. Attributes

Details

Base Year

2019

Historic Data

2015–2018

Forecast Period

2020–2026

Regional Scope

Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Global Commercial HVAC Market Report Segment Insights:

Based on product types, the global commercial HVAC market is divided into heating, ventilation, cooling, and other services. The cooling segment is expected to have a dominant market share in the forecasted period. The dominance is due to increasing adoption of precision air conditioners over conventional cooling techniques with the help of factors such as growth of hyper scale data and increase in rack level. In terms of end-user, the market is fragmented into residential, commercial, industrial, and others. HVAC systems are rapidly being adopted in the commercial segment due to high technological advancements and expansion in the hospitality sector. The demand for residential segment is also increasing steadily as consulting services are quickest and easier to get. On the basis of regions, the global commercial HVAC market is segmented into Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. Asia Pacific region is expected to have a rapid growth in the forecasted period. The rise is due to rapid economic growth and increasing urban population in regional nations which is driving the commercial HVAC market. Increase in disposable incomes in emerging economies is also a major factor contributing to the sales of the HVAC equipment.

Competitive Landscape:

Major companies in the global commercial HVAC market include Johnson Controls International PLC, Daikin Industries Ltd., LG Electronics Inc., Mitsubishi Electric Corporation, Gree Electric Appliances. Inc. of Zhuhai, Danfoss A/S, Smardt Chiller Group Inc., Qingdao Haier Co. Ltd., GAMI Air Conditioners Manufacturing, Ingersoll-Rand Plc, United Technologies Corporation, SKM Air Conditioning LLC, Petra Engineering Industries Co., Thermax Limited, Midea Group Co. Ltd., Thermal Care Inc., Blue Star Limited, The Arctic Chiller Group Ltd., Frigel Firenze SpA, Hero-Tech Refrigeration Equipment Co. Ltd., Aermec UK Ltd., Dunham-Bush Holding Bhd., Fluid Chillers Inc., Multistack LLC, Airedale International Air Conditioning Limited, Lennox International Inc., Whirlpool Corporation, Havells India Limited, Panasonic Corporation, Fujitsu General Limited, Voltas Limited, Zamil Air Conditioners, Rheem Manufacturing Company, Middle East Air Conditioner Co. Ltd., Kirby HVAC&R Pty Ltd., and M.T.A. S.p.A. In May 2018, BASF Corporation launched its first production site in Myanmar which benefitted in the construction of new production plants resulting in high rate of HVAC system installation. In the same month, Solenis launched its new manufacturing plant in Zhuhai city, Guangdong province, China, which is the company’s ninth manufacturing plant in the Asia Pacific region. In November 2019, Blue star introduced a new room air conditioner in India which is equipped with an air purifier. This innovation led to high demand of the company in the market. In February 2020, Annexair launched a ventilation appliance which is made out of recycled plastic bottles. It will help in the reduction of greenhouse gas effects by 85% as it is 60% lighter than steel. Both these inaugurations have helped in improving the environmental conditions.

The global commercial HVAC market has been segmented on the basis of

Product Types

• Heating
• Ventilation
• Cooling
• Other services

End-user

• Residential
• Commercial
• Industrial

Regions

• Asia Pacific
• Europe
• North America
• Middle East & Africa
• Latin America