global equipments for HVAC market is expected to progress with ~4.10% CAGR
The global equipment for HVAC market is expected to progress with ~4.10% CAGR from 2021 to 2027.
HVAC equipment is used to provide safety from any operational fault within the compressor and refrigeration circuit. This equipment is deployed to measure the various parameters in the HVAC systems, such as pressure and temperature, provide energy, and control voltage.
Asia-Pacific is one of the largest markets for equipment for HVAC in the world. The increased demand for HVAC equipment in the region can be attributed to factors such as industrial development, growing construction activities, and the rise in demand for fuel-efficient technologies. Furthermore, the rapidly increasing population rate, drastic climatic changes, and the easy availability of cost-effective systems are some significant factors that drive the market growth. The rapid urbanization in emerging economies, such as China, India, and Japan, encourages the consumers towards a more comfortable lifestyle, thereby increasing the demand for HVAC equipment in Asia-Pacific. In Indonesia, the increasing government investment in energy and the continuous and rapid expansion of the construction industry boosts the demand for HVAC equipment, which are an integral part of any industrial venture. The focus of the Japanese government on the development of the existing infrastructure by initiating various real estate projects to attract tourism is expected to accelerate the demand for HVAC equipment.
The global equipment for HVAC market is segmented based on equipment and region.
By equipment, the global market has been segmented as pressure switches, pressure transducers, capacitors, contactors, transformers, filter driers, sight glasses, and reversing valves. The capacitors segment is expected to hold the largest share during the forecast period. Capacitors are passive two-terminal electrical components that store energy electrostatically in an electric field. An HVAC system provides additional torque needed to get a unit running and the electricity needed to keep it running. Commonly, two types of capacitors are used in the HVAC system, i.e., start capacitor and run capacitor. The start capacitor seen in outdoor units includes heat pumps and air conditioners. The main function of the start capacitor is to get the compressor up and running as fast as possible; as the compressor begins running, it disconnects the capacitor from the electric circuit.
By region, the market is segmented into Europe, Asia-Pacific, North America, the Middle East & Africa, and South America. Asia-Pacific dominates the global equipment for HVAC market. Asia-Pacific is one of the largest markets for equipment for HVAC in the world. The rapid urbanization in emerging economies, such as China, India, and Japan, encourages the consumers towards a more comfortable lifestyle, thereby increasing the demand for HVAC equipment in Asia-Pacific. The increased demand for HVAC equipment in the region can be attributed to factors such as industrial development, growing construction activities, and the rise in demand for fuel-efficient technologies. Moreover, the rapidly increasing population rate, drastic climatic changes, and the easy availability of cost-effective systems are some significant factors that drive the market growth. In Indonesia, the increasing government investment in energy and the continuous and rapid expansion of the construction industry boosts the demand for HVAC equipment. The focus of the Japanese government on the development of the existing infrastructure by initiating various real estate projects to attract tourism is expected to accelerate the demand for HVAC equipment. Furthermore, the growing tourism industry is leading towards the growth of construction activities and would drive the demand for HVAC equipment all over the region.
The important players operating in the global equipment for HVAC market are Sensata Technologies (US), Saginomiya Seisakuusho (Tokyo), Jiangsu Match Well Electrical Products Co.,Ltd (China), Honeywell International Inc. (US), Arrow Electronic Inc. (US), Basler Electric (US), Diversitech (US), Dongan Electronic Manufacturing Company (US), General Electric (US), Hartland Controls (US), Lefco Industrial Corporation Ltd (China), Motors&Armatures Inc. (US), Noark Electric (Czech Republic), Nueva GeneractionManufacture(México), Parker HannifinCorporation (US), Sealed Unit Parts Co. Inc. (US), American Zettler (US), DANFOSS (Denmark), Emerson Electric (US),Mueller Co (US), SANHUA Holdings Group Co Ltd (China), and Eaton Corporation (Ireland).
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 and high-growth segments. The market data comprises the necessary assessment of the competitive scenarios and strategies in the global equipment for 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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