San Francisco, California, May 18, 2017: Government rules and tax incentive programs pertaining to energy saving are supporting growth of the global heating, ventilation, and air conditioning (HVAC) market. In a report, titled “HVAC Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” TMR Research provides a comprehensive analysis of the various factors supporting the market’s growth and those inhibiting its trajectory to an extent.
Energy conservation and saving have become key concerns for governments across the world. To encourage industries to participate in the cause, they have started offering lucrative tax credit programs. While this has emerged as a chief growth driver, the demand for HVAC is also rising in response to the burgeoning construction and infrastructure activities worldwide. As consumers shift toward smart homes, the deployment of HVAC technologies is likely pick up pace. For instance, commercial buildings are at the fore of implementing heating, ventilation, and air conditioning technologies. This has subsequently bolstered the production of HVAC motors. However, experts have prophesized the residential sector to outshine the commercial market in terms of demand.
Also with the advent of intelligent technologies, the HVAC market will see consumers benefiting from the cutting-edge monitoring systems. These systems will not only help monitoring energy consumption by a building, it will also enable it keep a check on energy output of a HVAC system. For instance, fans installed to cool down computing systems will get turned off automatically, after the device has reached a certain temperature, thus making it more energy-efficient. In addition, lucrative prospects will open for the market players as the HVAC technology is married to the Internet of Things. The commercial sector is likely to be an early adopted of this technology, as the IoT integration will augment reliability and efficiency of the building automation systems.
Regionally, Asia Pacific, North America, Europe, and Rest of the World constitute the key market segments. Among these regions, North America has emerged as the leading HVAC market in the world, with the U.S. exhibiting the highest deployment of the technology. The stellar growth witnessed in the U.S. market is forecast to continue through the forecast period, therefore sealing North America’s dominance in the global HVAC market.
The vendor landscape of the global HVAC market constitutes software providers, component providers, system integrators, distributors, and OEMs. In order to the study the degree of competition prevailing in the market and the strategies that have proven most successful as well as the ones that failed leaving a mark, the report includes detailed profiles of some of the leading market players. Companies such as Ingersoll Rand, Daikin Industries Ltd., Johnson Controls, Samsung Electronics, Panasonic Corporation, and United Technologies Corporation (Carrier) and the impact of their recent strategies on the market are studied in detail in the report.