Global HVAC Equipment Growth Opportunities

Global HVAC Equipment Growth Opportunities

Competitive Intensity to Propagate Material and Design Strategies Promoting HVAC Sustainability

RELEASE DATE
11-Apr-2024
REGION
North America
Deliverable Type
Market Research
Research Code: PFB7-01-00-00-00
SKU: EN_2024_651
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Description

Frost & Sullivan estimates the global HVAC equipment industry at $229.85 billion in 2023 and is projected to grow at a 7% CAGR in the forecast period. The HVAC industry is undergoing a transformation that emphasizes energy efficiency, sustainability, and evolving customer demands in a post-pandemic world.

HVAC systems offering real-time monitoring, data-driven optimization, and remote-control capabilities, leading to improved efficiency, reduced energy usage, and enhanced user experiences, are widely preferred. Such disruptive technologies will offer high growth potential for present and future applications with significant opportunities for HVAC industry growth and transformation toward a circular economy.

As circularity gains significant traction in the HVAC sector, companies are increasingly focused on extending product life spans, adopting remanufacturing practices, and utilizing recycled materials in their products.

Asia-Pacific is the largest revenue-generating region, followed by North America and Europe. These hotspots see sustained growth in construction activity, particularly in the residential and commercial segments. Stringent regulations to reduce energy consumption and carbon footprints further drive the adoption of advanced HVAC technologies in North America and Europe.

The cooling segment accounted for 56.1% of the global HVAC equipment industry. Among the user categories, commercial and residential segments accounted for 89.1% of the total industry, with commercial usage edging past residential as the higher revenue generator in 2023.

Author: Dennis Marcell Victor

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Global Heating Ventilation and Air Conditioning Equipment Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Global HVAC Equipment Vertical Industry Segmentation

Key Competitors in the HVAC Equipment Industry

Key Competitors in the HVAC Equipment Industry (continued)

Key Growth Metrics in the HVAC Equipment Industry

HVAC Equipment Industry Distribution Channels

Growth Drivers

Growth Restraints

Forecast Assumptions

Revenue Forecast

Revenue Forecast Analysis

Revenue Forecast by Region

Revenue Forecast Analysis by Region

Revenue Forecast Analysis by Region (continued)

Revenue Forecast by Vertical

Revenue Forecast Analysis by Vertical Industry

Revenue Forecast by Equipment Type

Revenue Forecast Analysis by Equipment Type

Competitive Environment

Market Share

Top 5 Competitors

Market Share Analysis

Market Share Analysis (continued)

Market Share Analysis (continued)

Mergers and Acquisitions in the HVAC Industry

Mergers and Acquisitions in the HVAC Industry (continued)

Value Creation through Circular Economy in the HVAC Industry

Circular Initiatives in the HVAC Industry

Key Growth Metrics

Revenue Forecast

Revenue Forecast Analysis

Revenue Forecast by Equipment Type

Revenue Forecast by Vertical Industry

Revenue Forecast Analysis by Equipment Type and Vertical Industry

Key Growth Metrics

Revenue Forecast

Revenue Forecast Analysis

Revenue Forecast by Equipment Type

Revenue Forecast by Vertical Industry

Revenue Forecast Analysis

Key Growth Metrics

Revenue Forecast

Revenue Forecast Analysis

Revenue Forecast by Equipment Type

Revenue Forecast by Vertical Industry

Revenue Forecast Analysis

Key Growth Metrics

Revenue Forecast

Revenue Forecast Analysis

Revenue Forecast by Equipment Type

Revenue Forecast by Vertical Industry

Revenue Forecast Analysis

Key Growth Metrics

Revenue Forecast

Revenue Forecast Analysis

Revenue Forecast by Equipment Type

Revenue Forecast by Vertical Industry

Revenue Forecast Analysis

Growth Opportunity 1: IoT to Promote Circularity in the HVAC Industry

Growth Opportunity 1: IoT to Promote Circularity in the HVAC Industry (continued)

Growth Opportunity 2: Green HVAC to Drive Decarbonization in Buildings

Growth Opportunity 2: Green HVAC to Drive Decarbonization in Buildings (continued)

Growth Opportunity 3: Design for Disassembly to Combat Raw Material Shortage

Growth Opportunity 3: Design for Disassembly to Combat Raw Material Shortage (continued)

List of Other Companies

Frost & Sullivan’s 6P Framework for Sustainability

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

Frost & Sullivan estimates the global HVAC equipment industry at $229.85 billion in 2023 and is projected to grow at a 7% CAGR in the forecast period. The HVAC industry is undergoing a transformation that emphasizes energy efficiency, sustainability, and evolving customer demands in a post-pandemic world. HVAC systems offering real-time monitoring, data-driven optimization, and remote-control capabilities, leading to improved efficiency, reduced energy usage, and enhanced user experiences, are widely preferred. Such disruptive technologies will offer high growth potential for present and future applications with significant opportunities for HVAC industry growth and transformation toward a circular economy. As circularity gains significant traction in the HVAC sector, companies are increasingly focused on extending product life spans, adopting remanufacturing practices, and utilizing recycled materials in their products. Asia-Pacific is the largest revenue-generating region, followed by North America and Europe. These hotspots see sustained growth in construction activity, particularly in the residential and commercial segments. Stringent regulations to reduce energy consumption and carbon footprints further drive the adoption of advanced HVAC technologies in North America and Europe. The cooling segment accounted for 56.1% of the global HVAC equipment industry. Among the user categories, commercial and residential segments accounted for 89.1% of the total industry, with commercial usage edging past residential as the higher revenue generator in 2023. Author: Dennis Marcell Victor
More Information
Deliverable Type Market Research
Author Dennis Marcell Victor
Industries Environment
No Index No
Is Prebook No
Podcast No
Predecessor K49F-01-00-00-00
WIP Number PFB7-01-00-00-00