The global commercial HVAC market is estimated to
expand at ~6.86% CAGR during the forecast period. Commercial
HVAC is an essential part of large office buildings, such as large commercial
complexes, hospitals, shopping malls, and restaurants. It helps provide
acceptable indoor air quality in commercial environments. Several new
technologies, including variable refrigerant flow (VRF), is gaining immense
demand as it is more energy efficient. Moreover, government measures to reduce
electricity cost and consumption is leading to increase in the adoption of new
HVAC systems in newly constructed buildings.
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Segmental
Analysis
The global commercial HVAC market has been segmented
based on heating equipment, ventilation equipment, cooling equipment,
implementation type, application, and region.
On the basis of heating equipment, the global market
has been segmented into heat pump, furnaces, boilers, and unitary heaters. The
heat pump segment is the largest segment in the market due to its ability to
perform both, space cooling and heating functions, while also being able to
heat water.
On the basis of implementation type, the global market
is divided into new construction and retrofit. The new construction segment is
expected to dominate the commercial HVAC market, owing to the increase in
urbanization, which has led to the demand for smart buildings that require
efficient HVAC equipment. On the basis of application, the global market is segmented
into large & small offices, hospitals, shopping malls, restaurants, and
others. The large & small offices segment is expected to dominate the
commercial HVAC market during the forecast period.
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Regional
Outlook
On the basis of region, the global commercial HVAC
market has been segmented into Asia-Pacific, North America, Europe, and the
rest of the world.
The growth of the commercial HVAC market in
Asia-Pacific is driven by many factors including the increasing investments in
the construction industry, resulting in the development of power infrastructure
in emerging countries, such as Australia, China, Thailand, and India. Moreover,
market players such as Samsung Electronics Co., Ltd, Daikin Industries Ltd, and
Mitsubishi Corporation have signed contracts with industries to provide HVAC
equipment and necessary solutions.
Leading
Players
The key players of the global commercial HVAC market
are Samsung Electronics Co., Ltd (South Korea), United Technologies Corporation
(US), Haier Electronics Group Co. Ltd (China), Mitsubishi Corporation (Japan), Edison
Heating and Cooling (US), Daikin
Industries Ltd (Japan), Ingersoll Rand (Ireland), Johnson Controls (US), Farina
Corporation (US), Lennox International Inc. (US), Rheem Manufacturing Company
(US), AAON (US), Panasonic (Japan), Hitachi, Ltd. (Japan), and Danfoss (Denmark).
Scope
of the Report
This research report
provides insights into various levels of analysis, such as industry analysis
and market share analysis for the leading industry competitors, along with
their profiles. It also helps in studying the target segments by providing
views on the emerging & high-growth segments. The market data comprises the
basic assessment of the competitive scenarios and strategies in the global commercial
HVAC market, including high-growth regions and/or countries, and political and
economic environments. The project report further provides both – historical
market values and pricing & cost analysis
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