NEW YORK, Aug. 8, 2022 /PRNewswire/ — The Insight Partners released a report, HVAC Market Outlook 2028 – COVID-19 Impacts and Components (Thermostats, Air Handling Units, AHUs, Furnaces , heat pumps). , compressors and others), type (split systems, ductless systems and complete systems), introduction (new installations and retrofits) and application (residential, commercial and industrial)”, the global HVAC market is expected to grow from 246, $1 billion in 2022 to $455.96 billion; the CAGR is expected to be 10.8% during 2022-2028.
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USA, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, Korea, Saudi Arabia, Brazil, Argentina
Daikin Industries, Inc., Emerson Electric Company, Rhubarb Manufacturing Company, Honeywell International, Inc., Johnson Controls International, Inc., LG Electronics Corporation, EVAPCO, Lennox International, Carrier AG and Trane Technologies, Inc. market participants in the study. In addition, several other important market players are studied and analyzed during this market research to gain a comprehensive understanding of the market and its ecosystem.
In 2022, Daikin announced the expansion of its new heat pump heating plant in Poland. The company announced an investment in the plant worth about $300 million. The new production site will start operating in July 2024 to meet the rapidly growing demand for heat pumps in Europe.
In 2021, Johnson Controls announced a partnership plan with Fundient Capital LLC. Ultimate Home Comfort is a 10-year residential HVAC program that provides homeowners with efficient heating and cooling options. The program is offered under the brand name YORK by Johnson Controls.
The growth of the HVAC market is driving an increase in demand for energy efficient solutions, the growth of government policies for energy conservation and regulation of energy conservation, the development of intelligent HVAC systems that drive demand, and the growing integration of IoT and HVAC systems worldwide. globe. By 2022, China will occupy a significant share of the HVAC market.
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The HVAC systems market is divided into five major regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). As several industries focus on reducing energy consumption and carbon emissions, Europe has pioneered the use of advanced heating, ventilation and air conditioning systems. Europe is at the forefront of the fight against global warming, and there are a number of rules in place to combat it. Reducing energy consumption in residential and commercial buildings is also becoming increasingly important in the region. Together, these factors are driving the growth of the HVAC systems market.
North America holds the largest market share for HVAC systems in the world. It is the most technologically advanced region and hosts major economies such as the US, Canada, and Mexico. The growth of the US construction industry has positively impacted the growth of the HVAC market in the region. The country has seen an increase in activity in the industrial sector, including manufacturing facilities, as well as other institutional and industrial facilities, which is driving market demand for HVAC systems.
US HVAC market players are constantly responding to the federal government’s ongoing efforts to regulate HFC consumption. Up to 50% of the R410A refrigerant used in today’s HVAC systems in the US is known to consist of hydrofluorocarbons such as R-32. R-32 is the best choice due to its energy efficiency, high thermal conductivity and low toxicity. For example, in December 2021, Daikin launched the first R-32 system in the US. Based on the superior quality of the R-32, Daikin made this decision. R-32 is the best low global warming potential (GWP) alternative to R310A refrigerant in many vital residential, light commercial and application products in North America. These advances by key market players are driving growth in the size of the HVAC market in the United States.
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Depending on the type, the HVAC market is divided into split systems, ductless systems and complex systems. Channelless systems can be used in various residential areas. They are most often used in multi-family buildings or as retrofits to facilities that already have non-ducted heating systems such as hydronic heating, radiant panels and space heaters. A split HVAC system is divided into two separate components, as the name suggests, one of which acts as a heating element and the other as a cooling element. It should be emphasized that these systems have clearly distinguishable indoor and outdoor units.
These HVAC units have external cooling systems that include coils, compressors and refrigerant to cool the air and fans to remove hot air. These are mainly air conditioners that are serviced outside and used in the summer. In addition, hybrid split air conditioning systems use whatever fuel is available in the season. Furnaces and air conditioners are part of a typical HVAC installation, while furnaces and heat pumps are part of a hybrid split system. A hybrid split system is energy efficient due to its ability to switch between oil and gas depending on the price. In terms of market share of HVAC systems, split systems dominate the HVAC industry.
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Heating, Ventilation, Air Conditioning and Refrigeration (HVAC/R) Market Forecast to 2028 – Covid-19 Impact and Global Analysis – by Heating Equipment (boilers, stoves, heaters, etc.); ventilation equipment (air filters, air ducts, fans, etc.). .); air conditioning equipment (chillers, cooling towers, air conditioners, etc.); ventilation equipment (actuators, control panels, sensors and switches, thermostats, etc.); services (managed and professional services); industry verticals (residential buildings). , commercial and industrial)
HVAC Controls Market Forecast 2028 – COVID-19 Impact and Global Analysis by Component Type (sensors, controllers, smart vents, etc.), Installation Type (New vs. Refurbished), System (Temperature Control Systems, Systems humidity control, ventilation control) systems and integrated control systems) and end users (residential, commercial and industrial)
Portable HVAC Monitoring Market Forecast to 2028 – COVID-19 Impact and Global Impact by Device Type (Temperature and Humidity Meters, Gas Detectors, HVAC Multimeters, Air Flow Meters, and Pressure Meters) and Application Analysis (Residential, Industrial, and Commercial)
Thermostat Market Forecast 2028 – COVID-19 Impact and Global Product Analysis (smart thermostat, mechanical, programmable, non-programmable, manual, others); operating mode (mains voltage thermostat, low voltage thermostat, millimeter voltage thermostat); distribution channel (utilities, retail, security, others); application (residential, commercial (educational, office, hospital, etc.), industrial use) and geographic.
Air handling unit market forecast until 2028 – COVID-19 impact and global type analysis (air handling units, modular air handling units, custom air handling units, roof air handling units, etc.); 1 hour, 5001-15000 m3/h, 15001-30000 m3/h, 30001-50000 m3/h, over 50001 m3/h); application (commercial, residential) and geographic
Commercial Vehicle HVAC Market Forecast 2028 – Covid-19 Impact and Global Analysis – By Technology Type (Automatic HVAC and Manual HVAC Systems), Equipment Type (Rooftop Modular Units, Split Systems, Chilled Water Air Handlers , VAV and air conditioners) “air” heat pumps and applications (light commercial vehicles, medium commercial vehicles and heavy commercial vehicles)
Automotive HVAC Market Forecast to 2028 – COVID-19 Impact and Global Analysis of Technology Types (Automatic HVAC Systems, Manual HVAC Systems), Equipment Type (Rooftop Modules, Split Systems, Chilled Water Air Handling Units, Variable Air Volume, Air Heat pump); component (condenser, evaporator, compressor, dryer, etc.); application (car, truck) and geography
HVAC Valve Market to 2027 – Global Analysis and Forecast by Products (Ball, Globe, Disc and Pressure Independent Valves) and Application (Residential, Industrial and Commercial)
Steam Traps Market Forecast 2028 – COVID-19 Impact and Global Analysis by Product Type (Mechanical, Thermodynamic and Thermostatic), Application (Drip Irrigation, Processing and Tracking), End User (Oil & Gas, Pharmaceutical, Food, Pulp & Beverage) . paper, etc.)
Smart Thermostat Market Forecast 2028 – Global Impact Analysis of COVID-19 and Networking (Wireless and Wired), Product Type (Connected Smart Thermostat, Standalone Smart Thermostat), Vertical (Residential, Commercial, Industrial) and Geography
Commercial HVAC Market Forecast to 2028 – COVID-19 Impact and Global Heating (Heat Pumps, Furnaces, Heaters, Boilers); refrigeration (indoor air conditioners, chillers, VRF systems, chillers, other); ventilation (air filters, air cleaners). , centrifugal fans, roof vents, fans, air handling units, etc.); implementation (new installations, modernization) and geography
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