COVID-19インパクトを持つHVACシステム市場、冷却機器、暖房機器、換気機器、実装タイプ別、用途別(住宅、商業、産業)、地域別(北米、欧州、APAC、RoW) - 2026年までの世界予測HVAC System Market with COVID-19 Impact, by Cooling Equipment, Heating Equipment, Ventilation Equipment, Implementation Type, Application (Residential, Commercial, Industrial) and Region (North America, Europe, APAC, RoW) - Global Forecast to 2026 HVACシステムの市場規模は、2021年には1,970億米ドル、2026年には2,715億米ドルに達すると予測されており、2021年から2026年にかけて6.6%のCAGRで成長することが見込まれています。米国消費者技術協会(CTA)によ... もっと見る
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サマリーHVACシステムの市場規模は、2021年には1,970億米ドル、2026年には2,715億米ドルに達すると予測されており、2021年から2026年にかけて6.6%のCAGRで成長することが見込まれています。米国消費者技術協会(CTA)によると、米国におけるスマートホームの数は、2020年までに~3,520万台に達すると予想されています。スマートホームの増加は、HVACシステムの需要を生み出すと予想されます。HVACシステムは、スマートホームにおいて、空気の温度、湿度、および新鮮な空気の取り込みを制御するために使用されます。これにより、各部屋の空気の流れを良くし、快適な温度を保つことができます。スマートホームでは、システムの性能を監視し、システムで生成されたアラームにローカルまたはリモートの場所から対応することができます。エネルギー効率に優れた新しいHVACシステムが、従来のHVACシステムに取って代わりつつあります。氷で動くエアコン、人の動きで動くエアコン、スマートベントなどの最新技術が最新のHVACシステムに統合され、エネルギー効率を高め、エネルギーコストを削減し、二酸化炭素の排出量を減らします。住宅用、商業用、産業用の各用途におけるエネルギー効率の高いHVAC機器の設置コストは、他のいくつかの要因によって異なります。例えば、住宅用の場合、すべてのHVACシステムの設置費用は、家の大きさ、追加のダクトワーク、機器の種類、機器のSEER値によって異なります。例えば、HVACシステムの交換費用は、中程度の気候帯の平均的な大きさの2,000平方フィートの家で、約3,250米ドルから12,350米ドルかかります。さらに、異なる冷暖房システムの平均設置費用は、エネルギー効率のレベルや建物に必要なユニットのサイズなどのパラメータによって異なる場合があります。 "VRFシステム。HVACシステム市場で最速の冷却装置 ." 日本、中国、韓国などの国は、VRF技術を早くから採用しており、これがAPACでの市場規模を大きくしている主な理由です。VRFシステムは、多世帯住宅、ホテル、学校などで使用されています。VRFシステムの高効率性、設計の柔軟性、運用寿命の長さが、市場の成長を促進すると予想されています。 "炉 "についてHVACシステム市場の中で最も速い加熱装置 。" 予測期間中、炉の市場は最も高いCAGRで成長すると予想されています。炉の成長は主に、初期コストの低さ、高い寿命、住宅用途での需要の増加によってもたらされます。炉のHVACシステム市場では、住宅分野が圧倒的に多い。古い暖房器具を新しい炉に交換する際、政府が住宅所有者に補助金やリベートを支給することで、住宅用途における炉の需要が増加すると予想されます。例えば、ブリティッシュ・コロンビア州(BC)政府は、住宅所有者が新しいガス炉を購入する際に、最大700米ドルのリベートを提供しています。 "エアハンドリングユニットHVACシステム市場で最大の成長を遂げている換気装置" 商業ビル、病院、大学などでのエアハンドリングユニットの使用が増加していることが、市場の成長を促進すると予想されます。空気清浄機の市場は、2021年から2026年にかけて最も高いCAGR(年平均成長率)13.9%で成長すると予想されています。空気の質の低下により、空気清浄機の需要が高まっています。さらに、大気汚染の進行により、人々は呼吸器疾患やその他の心血管疾患に罹患する高いリスクにさらされています。空気の汚染に関する人々の健康への関心の高まりが、世界的に空気清浄機の需要を押し上げると予想されます。 "商業。HVACシステム市場の最大のアプリケーション"(英語) 予測期間中、業務用アプリケーションセグメントが最大の市場シェアを占めると予想されます。これは、APACやRoWなどの発展途上地域において、商業ビルへのHVACシステムの導入が進んでいること、エネルギー効率の高い機器の需要が高まっていること、省エネルギーに関する意識が高まっていることなどが要因となっています。また、政府による商業施設建設への投資が増加していることも、商業用途のHVACシステム市場の成長を促進すると予想されます。 "ヨーロッパ世界のHVACシステム市場における第2位の地域 。" 欧州は、2020年にHVACシステム市場の第2位の規模を占めました。省エネルギーに対する意識の高まり、一人当たりの所得の高さ、二酸化炭素排出量削減に対する政府の支援策などが、欧州のHVACシステム市場の成長を後押ししています。さらに、欧州のHVACシステム市場の成長は、住宅や商業施設におけるハイエンドでエネルギー効率の高い機器への需要の高まりによって牽引されています。 本調査では、部品メーカーからTier1企業、OEMまで、さまざまな業界の専門家の見解を紹介しています。プライマリの内訳は以下の通りです。 - 企業タイプ別。Tier1 - 40%、Tier2 - 25%、Tier3 - 35%。 - 呼称別。Cレベルエグゼクティブ:35%、ディレクター:28%、その他:37%。 - 地域別APAC - 40%, ヨーロッパ - 35%, 北米 - 18%, RoW - 7 大金工業(日本)、ジョンソンコントロールズ(米国)、キャリア(米国)、トランテクノロジーズ(米国)、LGエレクトロニクス(韓国)、エマソン・エレクトリック・カンパニー(米国)、ハネウェルインターナショナル(米国)。(アメリカ)、Honeywell International Inc.(米国)、三菱電機(日本)、Nortek Air Management(米国)、サムスン電子(韓国)、ダンフォス(デンマーク)、富士通(日本)、グリー(中国)、日立(日本)、Midea(中国)、パナソニック(日本)、Haier Smart Home(中国)。東芝(日本)、ワールプール(米国)、シーメンス(ドイツ)、エレクトロラックス(スウェーデン)、レノックス(米国)、シュナイダーエレクトリック(フランス)、フェローリ(イタリア)、ボッシュ・サーモテクノロジー(ドイツ)などが、HVACシステム市場の多数のプレーヤーとして挙げられます。 調査範囲 当レポートでは、HVACシステム市場を冷房機器、暖房機器、換気機器、実装タイプ、アプリケーション、地域別に分類し、その市場規模を金額ベースで予測しています。 また、HVACシステム市場の市場促進要因、阻害要因、機会、課題についても包括的に考察しています。また、これらの市場の定量的な側面に加え、定性的な側面についても報告しています。 本レポートを購入する主なメリット 本レポートは、この市場のリーダー/新規参入者が、市場全体およびサブセグメントの収益数値の最も近い近似値に関する情報を得るのに役立ちます。本レポートは、ステークホルダーが、自社のビジネスをより良く位置づけ、適切な市場参入戦略を計画するための、より多くの洞察を得るのに役立ちます。また、利害関係者がHVACシステム市場のパルスを理解するのに役立ち、主要な市場のドライバー、拘束力、課題、機会に関する情報を提供します。また、COVID-19がHVACシステム市場に与える影響についても報告しています。 目次1 INTRODUCTION 281.1 STUDY OBJECTIVES 28 1.2 MARKET DEFINITION AND SCOPE 28 1.2.1 INCLUSIONS AND EXCLUSIONS 29 1.3 STUDY SCOPE 29 1.3.1 MARKETS COVERED 29 1.3.2 GEOGRAPHIC SCOPE 30 1.3.3 YEARS CONSIDERED 30 1.4 CURRENCY 30 1.5 MARKET STAKEHOLDERS 31 1.6 SUMMARY OF CHANGES 31 2 RESEARCH METHODOLOGY 32 2.1 RESEARCH DATA 32 FIGURE 1 HVAC SYSTEM MARKET: RESEARCH DESIGN 32 2.1.1 SECONDARY DATA 33 2.1.1.1 List of major secondary sources 33 2.1.1.2 Key data from secondary sources 33 2.1.2 PRIMARY DATA 34 2.1.2.1 Key data from primary sources 34 2.1.2.2 Breakdown of primaries 34 2.1.3 SECONDARY AND PRIMARY RESEARCH 35 2.1.3.1 Key industry insights 36 2.2 MARKET SIZE ESTIMATION 36 FIGURE 2 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY SIDE ANALYSIS 37 FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE)—IDENTIFICATION OF REVENUE GENERATED BY COMPANIES FROM HVAC SYSTEM BUSINESS 37 2.2.1 BOTTOM-UP APPROACH 38 2.2.1.1 Approach for arriving at market size using bottom-up analysis 38 FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 39 FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH FOR ESTIMATING SIZE OF HVAC SYSTEM MARKET 39 2.2.2 TOP-DOWN APPROACH 40 2.2.2.1 Approach for arriving at market size using top-down analysis 40 FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 40 2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 41 FIGURE 7 MARKET BREAKDOWN AND DATA TRIANGULATION 41 2.4 RESEARCH ASSUMPTIONS 42 FIGURE 8 ASSUMPTION FOR RESEARCH STUDY 42 2.5 LIMITATIONS 42 2.6 RISK ASSESSMENT 43 TABLE 1 LIMITATIONS AND ASSOCIATED RISKS 43 3 EXECUTIVE SUMMARY 44 FIGURE 9 GLOBAL PROPAGATION OF COVID-19 45 TABLE 2 RECOVERY SCENARIOS FOR GLOBAL ECONOMY 45 3.1 REALISTIC SCENARIO 46 3.2 OPTIMISTIC SCENARIO 46 3.3 PESSIMISTIC SCENARIO 46 FIGURE 10 GROWTH PROJECTIONS OF HVAC SYSTEM MARKET IN REALISTIC, OPTIMISTIC, AND PESSIMISTIC SCENARIOS 47 FIGURE 11 UNITARY AIR CONDITIONERS SEGMENT TO HOLD LARGEST SHARE OF HVAC SYSTEM MARKET DURING FORECAST PERIOD 48 FIGURE 12 HVAC SYSTEM MARKET FOR FURNACES TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 48 FIGURE 13 HVAC SYSTEM MARKET FOR AIR PURIFIERS TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD 49 FIGURE 14 HVAC SYSTEM MARKET FOR NEW CONSTRUCTION TO HOLD HIGHER MARKET SHARE DURING FORECAST PERIOD 49 FIGURE 15 HVAC SYSTEM MARKET FOR COMMERCIAL APPLICATION TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 50 FIGURE 16 APAC HVAC SYSTEM MARKET TO EXHIBIT HIGHEST SHARE FROM 2021 TO 2026 51 4 PREMIUM INSIGHTS 52 4.1 ATTRACTIVE OPPORTUNITIES IN HVAC SYSTEM MARKET 52 FIGURE 17 IMPLEMENTATION OF IOT WITH HVAC SYSTEMS HAS FUEL THEIR DEMAND IN COMMERCIAL AND RESIDENTIAL APPLICATIONS 52 4.2 HVAC SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY AND EQUIPMENT TYPE 52 FIGURE 18 US AND HEATING EQUIPMENT SEGMENT ARE EXPECTED TO HOLD LARGEST SHARES OF NORTH AMERICAN HVAC SYSTEM MARKET IN 2021 52 4.3 HVAC SYSTEM MARKET, BY APPLICATION 53 FIGURE 19 OFFICE SUB-SEGMENT TO HOLD LARGEST SHARE OF HVAC SYSTEM MARKET FOR COMMERCIAL APPLICATION DURING FORECAST PERIOD 53 4.4 HVAC SYSTEM MARKET, BY COUNTRY 53 FIGURE 20 HVAC SYSTEM MARKET IN INDIA TO REGISTER HIGHEST CAGR FROM 2021 TO 2026 53 5 MARKET OVERVIEW 54 5.1 INTRODUCTION 54 5.2 MARKET DYNAMICS 54 FIGURE 21 HVAC SYSTEM MARKET DYNAMICS 54 FIGURE 22 DRIVERS AND THEIR IMPACT ON HVAC SYSTEM MARKET 55 FIGURE 23 OPPORTUNITIES AND THEIR IMPACT ON HVAC SYSTEM MARKET 56 FIGURE 24 RESTRAINTS & CHALLENGES AND THEIR IMPACT ON HVAC SYSTEM MARKET 57 5.2.1 DRIVERS 57 5.2.1.1 Surging demand for energy-efficient solutions 57 5.2.1.2 Rising tax credit programs and incentives by governments worldwide to install high-efficiency HVAC systems 58 5.2.1.3 Increasing government regulatory policies and incentives to ensure energy saving and conservation of natural resources 58 5.2.1.4 Growing trend of smart homes 58 5.2.1.5 Elevating need to upgrade or refurbish commercial buildings 59 5.2.2 RESTRAINTS 59 5.2.2.1 Higher installation cost of energy-efficient HVAC systems 59 5.2.2.2 Shortage of skilled labor 59 5.2.3 OPPORTUNITIES 60 5.2.3.1 Rapid transformation of IoT within HVAC industry 60 5.2.3.2 High penetration of VRF systems in residential and commercial applications 60 5.2.3.3 Constant efforts to develop next-generation low global warming potential refrigerants for HVAC systems 60 5.2.4 CHALLENGES 61 5.2.4.1 Lack of awareness about benefits of HVAC systems in developing countries 61 5.3 VALUE CHAIN ANALYSIS 61 FIGURE 25 VALUE CHAIN ANALYSIS: HVAC SYSTEM MARKET 61 5.4 SOFTWARE AND SERVICES 62 FIGURE 26 SOFTWARE AND SERVICES USED IN HVAC SYSTEMS 62 5.4.1 SOFTWARE 63 TABLE 3 DIFFERENT FUNCTIONALITIES OF HVAC SOFTWARE 63 5.4.2 SERVICES 64 5.5 HVAC INDUSTRY ECOSYSTEM 64 FIGURE 27 ECOSYSTEM OF HVAC INDUSTRY 64 TABLE 4 SUPPLY CHAIN 65 5.6 PORTER’S FIVE FORCES ANALYSIS 66 TABLE 5 HVAC SYSTEM MARKET: PORTER’S FIVE FORCES ANALYSIS 66 5.6.1 DEGREE OF COMPETITION 66 5.6.2 BARGAINING POWER OF SUPPLIERS 66 5.6.3 BARGAINING POWER OF BUYERS 66 5.6.4 THREAT OF SUBSTITUTES 67 5.6.5 THREAT OF NEW ENTRANTS 67 5.7 CASE STUDIES FOR HVAC SYSTEM MARKET 67 5.7.1 DAIKIN DEVELOPED WATER-SOURCE VRV HEAT RECOVERY SYSTEM FOR DUKE ELLINGTON HIGH SCHOOL IN COLUMBIA 67 5.7.2 DAIKIN TECHNOLOGY MAKES GRADES AT FLORIDA MIDDLE SCHOOL TO OFFER IMPROVED COMFORT AND EXCEPTIONAL ENERGY SAVINGS 67 5.7.3 LG OFFERED COMPLETE HVAC SOLUTION TO LOTTE HOTELS & RESORTS IN MYANMAR 67 5.7.4 HVAC SYSTEMS BY TRANE TECHNOLOGIES OFFERED HIGH-END EXPERIENCE TO CORE FITNESS 68 5.7.5 TRANE TECHNOLOGIES OFFERED HVAC SYSTEM TO FLORIDA’S HILLSBOROUGH COMMUNITY COLLEGE 68 5.8 TECHNOLOGY ANALYSIS 68 5.8.1 SMART HVAC TECHNOLOGY 68 5.8.2 GEOTHERMAL HVAC TECHNOLOGY 68 5.8.3 DUCTLESS HVAC SYSTEMS 69 5.8.4 THERMALLY DRIVEN AIR CONDITIONING 69 5.8.5 DUAL FUEL HEAT PUMP TECHNOLOGY 69 5.8.6 ZONED HVAC SYSTEMS 69 5.9 AVERAGE SELLING PRICE (ASP) TREND ANALYSIS 69 FIGURE 28 AVERAGE SELLING PRICES OF DIFFERENT EQUIPMENT USED IN HVAC SYSTEMS (USD) 70 TABLE 6 HVAC INSTALLATION COSTS, BY TYPE, 2020 70 5.10 TRADE ANALYSIS 70 5.10.1 EXPORT SCENARIO 71 TABLE 7 EXPORT SCENARIO FOR HS CODE: 8415, BY COUNTRY, 2016–2020 (USD THOUSAND) 71 FIGURE 29 EXPORT DATA FOR TOP FIVE COUNTRIES, BY HS CODE 8415, 2016–2020 (USD THOUSAND) 71 5.10.2 IMPORT SCENARIO 72 TABLE 8 IMPORT SCENARIO FOR HS CODE 8415, BY COUNTRY, 2016–2020 (USD THOUSAND) 72 FIGURE 30 IMPORT DATA FOR TOP FIVE COUNTRIES, BY HS CODE 8415, 2016–2020 (USD THOUSAND) 72 5.11 PATENT ANALYSIS 73 TABLE 9 PATENTS FILED FOR HVAC SYSTEM, 2019–2021 73 5.12 TARIFFS & REGULATIONS 74 5.12.1 TARIFFS RELATED TO HVAC SYSTEM MARKET 74 TABLE 10 TARIFF IMPOSED BY US ON EXPORT OF AIR-CONDITIONING MACHINES COMPRISING MOTOR-DRIVEN FAN AND ELEMENTS FOR CHANGING TEMPERATURE AND HUMIDITY, INCLUDING MACHINES IN WHICH HUMIDITY CANNOT BE SEPARATELY REGULATED, BY COUNTRY, 2020 74 TABLE 11 TARIFF IMPOSED BY CHINA ON EXPORT OF AIR CONDITIONING MACHINES COMPRISING MOTOR-DRIVEN FAN AND ELEMENTS FOR CHANGING TEMPERATURE AND HUMIDITY, INCLUDING MACHINES IN WHICH HUMIDITY CANNOT BE SEPARATELY REGULATED, BY COUNTRY, 2020 75 TABLE 12 TARIFF IMPOSED BY INDIA ON EXPORT OF AIR CONDITIONING MACHINES COMPRISING MOTOR-DRIVEN FAN AND ELEMENTS FOR CHANGING TEMPERATURE AND HUMIDITY, INCLUDING MACHINES IN WHICH HUMIDITY CANNOT BE SEPARATELY REGULATED, BY COUNTRY, 2020 75 5.12.2 STANDARDS AND REGULATIONS RELATED TO HVAC SYSTEM MARKET 75 5.12.2.1 Environmental HVAC requirements 76 5.12.2.1.1 Current HCFC regulations 76 5.12.2.1.2 New HFC regulations 76 5.12.2.1.3 US regulations 76 5.12.2.1.4 Canadian regulations 76 5.12.2.2 HVAC efficiency standards 77 5.12.2.3 HVAC tech certifications 77 5.12.2.4 Workforce shortages 77 5.12.2.5 Smart HVAC 77 5.13 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESSES 77 FIGURE 31 REVENUE SHIFT FOR HVAC SYSTEM MARKET 78 6 HVAC SYSTEM MARKET, BY COOLING EQUIPMENT 79 6.1 INTRODUCTION 80 FIGURE 32 HVAC SYSTEM MARKET, BY COOLING EQUIPMENT 80 FIGURE 33 UNITARY AIR CONDITIONERS TO HOLD LARGEST SHARE OF HVAC SYSTEM MARKET FOR COOLING EQUIPMENT IN 2026 80 TABLE 13 HVAC SYSTEM MARKET, BY COOLING EQUIPMENT, 2017–2020 (USD BILLION) 81 TABLE 14 HVAC SYSTEM MARKET, BY COOLING EQUIPMENT, 2021–2026 (USD BILLION) 81 TABLE 15 HVAC SYSTEM MARKET FOR COOLING EQUIPMENT, BY APPLICATION, 2017–2020 (USD BILLION) 82 TABLE 16 HVAC SYSTEM MARKET FOR COOLING EQUIPMENT, BY APPLICATION, 2021–2026 (USD BILLION) 82 TABLE 17 HVAC SYSTEM MARKET FOR COOLING EQUIPMENT, BY REGION, 2017–2020 (USD BILLION) 82 TABLE 18 HVAC SYSTEM MARKET FOR COOLING EQUIPMENT, BY REGION, 2021–2026 (USD BILLION) 83 6.2 UNITARY AIR CONDITIONERS 83 6.2.1 COMMERCIAL SEGMENT TO ACCOUNT FOR LARGEST SHARE OF COOLING EQUIPMENT MARKET FOR UNITARY AIR CONDITIONERS 83 TABLE 19 AHRI STANDARDS RELATED TO UNITARY AIR CONDITIONERS 83 6.2.1.1 Split air conditioners 84 6.2.1.2 Packaged air conditioners 84 TABLE 20 HVAC SYSTEM MARKET FOR UNITARY AIR CONDITIONERS, BY APPLICATION, 2017–2020 (USD BILLION) 84 TABLE 21 HVAC SYSTEM MARKET FOR UNITARY AIR CONDITIONERS, BY APPLICATION, 2021–2026 (USD BILLION) 84 TABLE 22 HVAC SYSTEM MARKET FOR UNITARY AIR CONDITIONERS, BY REGION, 2017–2020 (USD BILLION) 85 TABLE 23 HVAC SYSTEM MARKET FOR UNITARY AIR CONDITIONERS, BY REGION, 2021–2026 (USD BILLION) 85 6.3 VRF SYSTEMS 85 6.3.1 APAC TO HOLD LARGEST SIZE OF VRF SYSTEMS MARKET 85 TABLE 24 HVAC SYSTEM MARKET FOR VRF SYSTEMS, BY APPLICATION, 2017–2020 (USD BILLION) 86 TABLE 25 HVAC SYSTEM MARKET FOR VRF SYSTEMS, BY APPLICATION, 2021–2026 (USD BILLION) 86 TABLE 26 HVAC SYSTEM MARKET FOR VRF SYSTEMS, BY REGION, 2017–2020 (USD BILLION) 86 TABLE 27 HVAC SYSTEM MARKET FOR VRF SYSTEMS, BY REGION, 2021–2026 (USD BILLION) 87 6.4 CHILLERS 87 6.4.1 COMMERCIAL SEGMENT TO ACCOUNT FOR LARGEST SIZE OF CHILLERS MARKET 87 6.4.1.1 Scroll chillers 87 6.4.1.2 Screw chillers 87 6.4.1.3 Centrifugal chillers 88 6.4.1.4 Reciprocating chillers 88 6.4.1.5 Absorption chillers 88 TABLE 28 HVAC SYSTEM MARKET FOR CHILLERS, BY APPLICATION, 2017–2020 (USD BILLION) 89 TABLE 29 HVAC SYSTEM MARKET FOR CHILLERS, BY APPLICATION, 2021–2026 (USD BILLION) 89 TABLE 30 HVAC SYSTEM MARKET FOR CHILLERS, BY REGION, 2017–2020 (USD BILLION) 89 TABLE 31 HVAC SYSTEM MARKET FOR CHILLERS, BY REGION, 2021–2026 (USD BILLION) 90 6.5 ROOM AIR CONDITIONERS 90 6.5.1 RESIDENTIAL SEGMENT TO HOLD LARGEST SHARE OF ROOM AIR CONDITIONERS MARKET 90 TABLE 32 HVAC SYSTEM MARKET FOR ROOM AIR CONDITIONERS, BY APPLICATION, 2017–2020 (USD MILLION) 90 TABLE 33 HVAC SYSTEM MARKET FOR ROOM AIR CONDITIONERS, BY APPLICATION, 2021–2026 (USD MILLION) 91 TABLE 34 HVAC SYSTEM MARKET FOR ROOM AIR CONDITIONERS, BY REGION, 2017–2020 (USD MILLION) 91 TABLE 35 HVAC SYSTEM MARKET FOR ROOM AIR CONDITIONERS, BY REGION, 2021–2026 (USD MILLION) 91 6.6 COOLERS 92 6.6.1 RESIDENTIAL SEGMENT TO ACCOUNT FOR LARGEST SHARE OF COOLERS MARKET 92 6.6.1.1 Ducted coolers 92 6.6.1.2 Window coolers 92 TABLE 36 HVAC SYSTEM MARKET FOR COOLERS, BY APPLICATION, 2017–2020 (USD MILLION) 92 TABLE 37 HVAC SYSTEM MARKET FOR COOLERS, BY APPLICATION, 2021–2026 (USD MILLION) 92 TABLE 38 HVAC SYSTEM MARKET FOR COOLERS, BY REGION, 2017–2020 (USD MILLION) 93 TABLE 39 HVAC SYSTEM MARKET FOR COOLERS, BY REGION, 2021–2026 (USD MILLION) 93 6.7 COOLING TOWERS 93 6.7.1 APAC TO HOLD LARGEST SIZE OF COOLING TOWERS MARKET 93 6.7.1.1 Evaporative cooling towers 93 6.7.1.2 Dry cooling towers 94 6.7.1.3 Hybrid cooling towers 94 TABLE 40 HVAC SYSTEM MARKET FOR COOLING TOWERS, BY APPLICATION, 2017–2020 (USD MILLION) 95 TABLE 41 HVAC SYSTEM MARKET FOR COOLING TOWERS, BY APPLICATION, 2021–2026 (USD MILLION) 95 TABLE 42 HVAC SYSTEM MARKET FOR COOLING TOWERS, BY REGION, 2017–2020 (USD MILLION) 95 TABLE 43 HVAC SYSTEM MARKET FOR COOLING TOWERS, BY REGION, 2021–2026 (USD MILLION) 95 7 HVAC SYSTEM MARKET, BY HEATING EQUIPMENT 96 7.1 INTRODUCTION 97 FIGURE 34 HVAC SYSTEM MARKET, BY HEATING EQUIPMENT 97 FIGURE 35 HEAT PUMPS TO HOLD LARGEST SHARE OF HVAC SYSTEM MARKET DURING FORECAST PERIOD 97 TABLE 44 HVAC SYSTEM MARKET, BY HEATING EQUIPMENT, 2017–2020 (USD BILLION) 98 TABLE 45 HVAC SYSTEM MARKET, BY HEATING EQUIPMENT, 2021–2026 (USD BILLION) 98 TABLE 46 HVAC SYSTEM MARKET FOR HEATING EQUIPMENT, BY APPLICATION, 2017–2020 (USD BILLION) 99 TABLE 47 HVAC SYSTEM MARKET FOR HEATING EQUIPMENT, BY APPLICATION, 2021–2026 (USD BILLION) 99 TABLE 48 HVAC SYSTEM MARKET FOR HEATING EQUIPMENT, BY REGION, 2017–2020 (USD BILLION) 99 TABLE 49 HVAC SYSTEM MARKET FOR HEATING EQUIPMENT, BY REGION, 2021–2026 (USD BILLION) 100 7.2 HEAT PUMPS 100 7.2.1 GOVERNMENT SUPPORT TO BOOST GROWTH OF HEAT PUMPS MARKET 100 7.2.1.1 Air-to-air heat pumps 100 7.2.1.2 Air-to-water heat pumps 101 7.2.1.3 Water-to-water heat pumps 101 TABLE 50 HVAC SYSTEM MARKET, FOR HEAT PUMP, BY APPLICATION, 2017–2020 (USD BILLION) 101 TABLE 51 HVAC SYSTEM MARKET FOR HEAT PUMP, BY APPLICATION, 2021–2026 (USD BILLION) 101 TABLE 52 HVAC SYSTEM MARKET FOR HEAT PUMP, BY REGION, 2017–2020 (USD BILLION) 102 TABLE 53 HVAC SYSTEM MARKET FOR HEAT PUMP, BY REGION, 2021–2026 (USD BILLION) 102 7.3 FURNACES 102 7.3.1 LOW COST AND HIGH EFFICIENCY TO FUEL DEMAND FOR ELECTRIC FURNACES 102 7.3.1.1 Oil furnaces 102 7.3.1.2 Gas furnaces 103 7.3.1.3 Electric furnaces 103 TABLE 54 HVAC SYSTEM MARKET FOR FURNACE, BY APPLICATION, 2017–2020 (USD BILLION) 103 TABLE 55 HVAC SYSTEM MARKET FOR FURNACE, BY APPLICATION, 2021–2026 (USD BILLION) 103 TABLE 56 HVAC SYSTEM MARKET FOR FURNACE, BY REGION, 2017–2020 (USD BILLION) 104 TABLE 57 HVAC SYSTEM MARKET FOR FURNACE, BY REGION, 2021–2026 (USD BILLION) 104 7.4 UNITARY HEATERS 104 7.4.1 HIGH EFFICIENCY OF UNITARY HEATERS TO BOOST MARKET GROWTH 104 7.4.1.1 Gas unit heaters 104 7.4.1.2 Oil-fired unit heaters 104 7.4.1.3 Electric unit heaters 105 TABLE 58 HVAC SYSTEM MARKET FOR UNITARY HEATER, BY APPLICATION, 2017–2020 (USD BILLION) 105 TABLE 59 HVAC SYSTEM MARKET FOR UNITARY HEATER, BY APPLICATION, 2021–2026 (USD BILLION) 105 TABLE 60 HVAC SYSTEM MARKET FOR UNITARY HEATER, BY REGION, 2017–2020 (USD MILLION) 105 TABLE 61 HVAC SYSTEM MARKET FOR UNITARY HEATER, BY REGION, 2021–2026 (USD MILLION) 106 7.5 BOILERS 106 7.5.1 RESIDENTIAL SEGMENT TO HOLD LARGEST SHARE OF HVAC SYSTEM MARKET FOR BOILERS 106 7.5.1.1 Steam boilers 106 7.5.1.2 Hot water boilers 106 TABLE 62 HVAC SYSTEM MARKET FOR BOILER, BY APPLICATION, 2017–2020 (USD BILLION) 107 TABLE 63 HVAC SYSTEM MARKET FOR BOILER, BY APPLICATION, 2021–2026 (USD BILLION) 107 TABLE 64 HVAC SYSTEM MARKET FOR BOILER, BY REGION, 2017–2020 (USD MILLION) 107 TABLE 65 HVAC SYSTEM MARKET FOR BOILER, BY REGION, 2021–2026 (USD MILLION) 107 8 HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT 108 8.1 INTRODUCTION 109 FIGURE 36 HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT 109 FIGURE 37 AIR-HANDLING UNITS SEGMENT TO HOLD LARGEST SHARE OF HVAC SYSTEM MARKET DURING FORECAST PERIOD 109 TABLE 66 HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT, 2017–2020 (USD BILLION) 110 TABLE 67 HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT, 2021–2026 (USD BILLION) 110 TABLE 68 HVAC SYSTEM MARKET FOR VENTILATION EQUIPMENT, BY APPLICATION, 2017–2020 (USD BILLION) 111 TABLE 69 HVAC SYSTEM MARKET FOR VENTILATION EQUIPMENT, BY APPLICATION, 2021–2026 (USD BILLION) 111 TABLE 70 HVAC SYSTEM MARKET FOR VENTILATION EQUIPMENT, BY REGION, 2017–2020 (USD BILLION) 111 TABLE 71 HVAC SYSTEM MARKET FOR VENTILATION EQUIPMENT, BY REGION, 2021–2026 (USD BILLION) 112 8.2 AIR-HANDLING UNITS 112 8.2.1 COMMERCIAL SEGMENT TO ACCOUNT FOR LARGEST SIZE OF HVAC SYSTEM MARKET FOR AIR-HANDLING UNITS 112 TABLE 72 HVAC SYSTEM MARKET FOR AIR-HANDLING UNITS, BY APPLICATION, 2017–2020 (USD BILLION) 112 TABLE 73 HVAC SYSTEM MARKET FOR AIR-HANDLING UNITS, BY APPLICATION, 2021–2026 (USD BILLION) 113 TABLE 74 HVAC SYSTEM MARKET FOR AIR-HANDLING UNITS, BY REGION, 2017–2020 (USD BILLION) 113 TABLE 75 HVAC SYSTEM MARKET FOR AIR-HANDLING UNITS, BY REGION, 2021–2026 (USD BILLION) 113 8.3 AIR FILTERS 114 8.3.1 APAC TO HOLD LARGEST SIZE OF AIR FILTERS MARKET 114 TABLE 76 HVAC SYSTEM MARKET FOR AIR FILTERS, BY APPLICATION, 2017–2020 (USD BILLION) 114 TABLE 77 HVAC SYSTEM MARKET FOR AIR FILTERS, BY APPLICATION, 2021–2026 (USD BILLION) 114 TABLE 78 HVAC SYSTEM MARKET FOR AIR FILTERS, BY REGION, 2017–2020 (USD MILLION) 115 TABLE 79 HVAC SYSTEM MARKET FOR AIR FILTERS, BY REGION, 2021–2026 (USD MILLION) 115 8.4 DEHUMIDIFIERS 115 8.4.1 INDUSTRIAL SEGMENT TO ACCOUNT FOR LARGEST SIZE OF HVAC SYSTEM MARKET FOR DEHUMIDIFIERS 115 8.4.1.1 Refrigeration dehumidifiers 115 8.4.1.2 Absorption dehumidifiers 116 TABLE 80 HVAC SYSTEM MARKET FOR DEHUMIDIFIERS, BY APPLICATION, 2017–2020 (USD BILLION) 116 TABLE 81 HVAC SYSTEM MARKET FOR DEHUMIDIFIERS, BY APPLICATION, 2021–2026 (USD BILLION) 116 TABLE 82 HVAC SYSTEM MARKET FOR DEHUMIDIFIERS, BY REGION, 2017–2020 (USD MILLION) 116 TABLE 83 HVAC SYSTEM MARKET FOR DEHUMIDIFIERS, BY REGION, 2021–2026 (USD MILLION) 117 8.5 VENTILATION FANS 117 8.5.1 APAC TO HOLD LARGEST SIZE OF VENTILATION FANS MARKET 117 8.5.1.1 Crossflow fans 117 8.5.1.2 Axial fans 117 8.5.1.3 Centrifugal fans 117 8.5.1.4 Domestic fans 117 8.5.1.5 Range hood fans 118 8.5.1.6 Power roof fans 118 TABLE 84 HVAC SYSTEM MARKET FOR VENTILATION FANS, BY APPLICATION, 2017–2020 (USD BILLION) 118 TABLE 85 HVAC SYSTEM MARKET FOR VENTILATION FANS, BY APPLICATION, 2021–2026 (USD BILLION) 118 TABLE 86 HVAC SYSTEM MARKET FOR VENTILATION FANS, BY REGION, 2017–2020 (USD MILLION) 119 TABLE 87 HVAC SYSTEM MARKET FOR VENTILATION FANS, BY REGION, 2021–2026 (USD MILLION) 119 8.6 HUMIDIFIERS 119 8.6.1 COMMERCIAL SEGMENT TO ACCOUNT FOR LARGEST SHARE OF HVAC SYSTEM MARKET FOR HUMIDIFIERS 119 8.6.1.1 Warm-mist humidifiers 119 8.6.1.2 Ultrasonic humidifiers 120 8.6.1.3 Cool-mist humidifiers 120 TABLE 88 HVAC SYSTEM MARKET FOR HUMIDIFIERS, BY APPLICATION, 2017–2020 (USD MILLION) 120 TABLE 89 HVAC SYSTEM MARKET FOR HUMIDIFIERS, BY APPLICATION, 2021–2026 (USD MILLION) 120 TABLE 90 HVAC SYSTEM MARKET FOR HUMIDIFIERS, BY REGION, 2017–2020 (USD MILLION) 120 TABLE 91 HVAC SYSTEM MARKET FOR HUMIDIFIERS, BY REGION, 2021–2026 (USD MILLION) 121 8.7 AIR PURIFIERS 121 8.7.1 APAC AIR PURIFIER MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 121 8.7.1.1 HEPA air purifiers 121 8.7.1.2 Activated carbon air purifiers 121 8.7.1.3 Electrostatic air purifiers 121 8.7.1.4 Ionic air purifiers 121 TABLE 92 HVAC SYSTEM MARKET FOR AIR PURIFIERS, BY APPLICATION, 2017–2020 (USD MILLION) 122 TABLE 93 HVAC SYSTEM MARKET FOR AIR PURIFIERS, BY APPLICATION, 2021–2026 (USD MILLION) 122 TABLE 94 HVAC SYSTEM MARKET FOR AIR PURIFIERS, BY REGION, 2017–2020 (USD MILLION) 122 TABLE 95 HVAC SYSTEM MARKET FOR AIR PURIFIERS, BY REGION, 2021–2026 (USD MILLION) 122 9 HVAC SYSTEM MARKET, BY IMPLEMENTATION TYPE 123 9.1 INTRODUCTION 124 FIGURE 38 HVAC SYSTEM MARKET, BY IMPLEMENTATION TYPE 124 FIGURE 39 NEW CONSTRUCTION SEGMENT TO HOLD LARGER SHARE OF HVAC SYSTEM MARKET IN 2026 124 TABLE 96 HVAC SYSTEM MARKET, BY IMPLEMENTATION TYPE, 2017–2020 (USD BILLION) 125 TABLE 97 HVAC SYSTEM MARKET, BY IMPLEMENTATION TYPE, 2021–2026 (USD BILLION) 125 9.2 NEW CONSTRUCTION 125 9.2.1 GROWING URBANIZATION TO BOOST DEMAND FOR HVAC SYSTEMS IN NEW CONSTRUCTION SEGMENT 125 9.3 RETROFIT 126 9.3.1 GOVERNMENT REGULATIONS FOR GREEN BUILDINGS TO BOOST GROWTH OF HVAC SYSTEM MARKET 126 10 HVAC SYSTEM MARKET, BY APPLICATION 127 10.1 INTRODUCTION 128 FIGURE 40 HVAC SYSTEM MARKET, BY APPLICATION 128 TABLE 98 INDUSTRY-STANDARD RATING PARAMETERS RELATED TO HVAC SYSTEMS 129 FIGURE 41 COMMERCIAL APPLICATION TO HOLD LARGEST SHARE OF HVAC SYSTEM MARKET DURING FORECAST PERIOD 129 TABLE 99 HVAC SYSTEM MARKET, BY APPLICATION, 2017–2020 (USD BILLION) 130 TABLE 100 HVAC SYSTEM MARKET, BY APPLICATION, 2021–2026 (USD BILLION) 130 10.2 COMMERCIAL 131 10.2.1 GROWING ADOPTION OF ENERGY-EFFICIENT EQUIPMENT TO BOOST HVAC SYSTEM MARKET FOR COMMERCIAL SPACES 131 TABLE 101 HVAC SYSTEM MARKET, BY COMMERCIAL APPLICATION, 2017–2020 (USD BILLION) 131 TABLE 102 HVAC SYSTEM MARKET, BY COMMERCIAL APPLICATION, 2021–2026 (USD BILLION) 131 TABLE 103 HVAC SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY COOLING EQUIPMENT, 2017–2020 (USD BILLION) 132 TABLE 104 HVAC SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY COOLING EQUIPMENT, 2021–2026 (USD BILLION) 132 TABLE 105 HVAC SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY HEATING EQUIPMENT, 2017–2020 (USD BILLION) 132 TABLE 106 HVAC SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY HEATING EQUIPMENT, 2021–2026 (USD BILLION) 133 TABLE 107 HVAC SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY VENTILATION EQUIPMENT, 2017–2020 (USD BILLION) 133 TABLE 108 HVAC SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY VENTILATION EQUIPMENT, 2021–2026 (USD BILLION) 133 10.2.1.1 Office 134 10.2.1.2 Government 134 10.2.1.3 Healthcare 134 10.2.1.4 Education 134 10.2.1.5 Retail 134 10.2.1.6 Airport 134 10.3 RESIDENTIAL 135 10.3.1 GOVERNMENT REGULATIONS AND TAX CREDIT PROGRAMS TO PROMOTE USE OF HVAC SYSTEMS IN RESIDENTIAL APPLICATIONS 135 TABLE 109 HVAC SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY COOLING EQUIPMENT, 2017–2020 (USD BILLION) 135 TABLE 110 HVAC SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY COOLING EQUIPMENT, 2021–2026 (USD BILLION) 136 TABLE 111 HVAC SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY HEATING EQUIPMENT, 2017–2020 (USD BILLION) 136 TABLE 112 HVAC SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY HEATING EQUIPMENT, 2021–2026 (USD BILLION) 136 TABLE 113 HVAC SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY VENTILATION EQUIPMENT, 2017–2020 (USD BILLION) 137 TABLE 114 HVAC SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY VENTILATION EQUIPMENT, 2021–2026 (USD BILLION) 137 10.4 INDUSTRIAL 137 10.4.1 GROWING USE OF ENERGY-EFFICIENT HVAC SYSTEMS IN INDUSTRIAL SPACES TO REDUCE OPERATIONAL COST AND SAVE ENERGY 137 TABLE 115 HVAC SYSTEM MARKET FOR INDUSTRIAL APPLICATION, BY COOLING EQUIPMENT, 2017–2020 (USD BILLION) 138 TABLE 116 HVAC SYSTEM MARKET FOR INDUSTRIAL APPLICATION, BY COOLING EQUIPMENT, 2021–2026 (USD BILLION) 138 TABLE 117 HVAC SYSTEM MARKET FOR INDUSTRIAL APPLICATION, BY HEATING EQUIPMENT, 2017–2020 (USD BILLION) 139 TABLE 118 HVAC SYSTEM MARKET FOR INDUSTRIAL APPLICATION, BY HEATING EQUIPMENT, 2021–2026 (USD BILLION) 139 TABLE 119 HVAC SYSTEM MARKET FOR INDUSTRIAL APPLICATION, BY VENTILATION EQUIPMENT, 2017–2020 (USD BILLION) 139 TABLE 120 HVAC SYSTEM MARKET FOR INDUSTRIAL APPLICATION, BY VENTILATION EQUIPMENT, 2021–2026 (USD BILLION) 140 11 GEOGRAPHIC ANALYSIS 141 11.1 INTRODUCTION 142 FIGURE 42 HVAC SYSTEM MARKET IN APAC TO GROW AT HIGHEST CAGR FROM 2021 TO 2026 142 TABLE 121 HVAC SYSTEM MARKET, BY REGION, 2017–2020 (USD BILLION) 142 TABLE 122 HVAC SYSTEM MARKET, BY REGION, 2021–2026 (USD BILLION) 142 11.2 NORTH AMERICA 143 FIGURE 43 NORTH AMERICA: HVAC SYSTEM MARKET SNAPSHOT 144 TABLE 123 HVAC SYSTEM MARKET IN NORTH AMERICA, BY EQUIPMENT TYPE, 2017–2020 (USD BILLION) 144 TABLE 124 HVAC SYSTEM MARKET IN NORTH AMERICA, BY EQUIPMENT TYPE, 2021–2026 (USD BILLION) 145 TABLE 125 HVAC SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD BILLION) 145 TABLE 126 HVAC SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD BILLION) 145 11.2.1 US 145 11.2.1.1 Increasing number of construction projects to boost HVAC system market growth in US 145 11.2.2 CANADA 146 11.2.2.1 Government initiatives for energy saving to drive demand for HVAC systems in Canada 146 11.2.3 MEXICO 146 11.2.3.1 Increasing focus on promoting use of energy-efficient HVAC systems to drive Mexican market growth 146 11.3 EUROPE 147 FIGURE 44 EUROPE: HVAC SYSTEM MARKET SNAPSHOT 147 TABLE 127 HVAC SYSTEM MARKETIN EUROPE, BY EQUIPMENT TYPE, 2017–2020 (USD BILLION) 148 TABLE 128 HVAC SYSTEM MARKET IN EUROPE, BY EQUIPMENT TYPE, 2021–2026 (USD BILLION) 148 TABLE 129 HVAC SYSTEM MARKET IN EUROPE, BY COUNTRY, 2017–2020 (USD BILLION) 148 TABLE 130 HVAC SYSTEM MARKET IN EUROPE, BY COUNTRY, 2021–2026 (USD BILLION) 148 11.3.1 UK 149 11.3.1.1 High demand for energy-efficient devices from commercial and residential users to boost market growth in UK 149 11.3.2 GERMANY 149 11.3.2.1 Increasing innovations in software solutions for HVAC professionals to support growth of German market 149 11.3.3 FRANCE 149 11.3.3.1 Rising focus on reducing greenhouse gases to spur demand for HVAC systems in France 149 11.3.4 REST OF EUROPE 150 11.4 APAC 150 FIGURE 45 APAC: HVAC SYSTEM MARKET SNAPSHOT 151 TABLE 131 HVAC SYSTEM MARKET IN APAC, BY EQUIPMENT TYPE, 2017–2020 (USD BILLION) 151 TABLE 132 HVAC SYSTEM MARKET IN APAC, BY EQUIPMENT TYPE, 2021–2026 (USD BILLION) 152 FIGURE 46 INDIA TO BE FASTEST-GROWING MARKET FOR HVAC SYSTEMS IN APAC DURING FORECAST PERIOD 152 TABLE 133 HVAC SYSTEM MARKET IN APAC, BY COUNTRY, 2017–2020 (USD BILLION) 152 TABLE 134 HVAC SYSTEM MARKET IN APAC, BY COUNTRY, 2021–2026 (USD BILLION) 153 11.4.1 CHINA 153 11.4.1.1 Growing industrialization and urbanization in China to fuel growth of HVAC system market 153 11.4.2 INDIA 153 11.4.2.1 Surging need to save energy to boost demand for HVAC systems in India 153 11.4.3 JAPAN 154 11.4.3.1 Strict regulations for energy conservation to upsurge demand for HVAC systems in Japan 154 11.4.4 REST OF APAC 154 11.5 ROW 154 TABLE 135 HVAC SYSTEM MARKET IN ROW, BY EQUIPMENT TYPE, 2017–2020 (USD BILLION) 154 TABLE 136 HVAC SYSTEM MARKET IN ROW, BY EQUIPMENT TYPE, 2021–2026 (USD BILLION) 154 TABLE 137 HVAC SYSTEM MARKET IN ROW, BY COUNTRY, 2017–2020 (USD BILLION) 155 TABLE 138 HVAC SYSTEM MARKET IN ROW, BY COUNTRY, 2021–2026 (USD BILLION) 155 11.5.1 SOUTH AMERICA 155 11.5.1.1 Strong focus on infrastructure development in South America to boost HVAC system market growth 155 11.5.2 MIDDLE EAST & AFRICA 155 11.5.2.1 Stringent regulations for enhancing energy performance of buildings to drive market growth in Middle East & Africa 155 12 COMPETITIVE LANDSCAPE 157 12.1 OVERVIEW 157 12.2 MARKET EVALUATION FRAMEWORK 157 TABLE 139 OVERVIEW OF STRATEGIES DEPLOYED BY KEY HVAC SYSTEM PLAYERS 157 12.2.1 PRODUCT PORTFOLIO 158 12.2.2 REGIONAL FOCUS 158 12.2.3 MANUFACTURING FOOTPRINT 158 12.2.4 ORGANIC/INORGANIC GROWTH STRATEGIES 158 12.3 REVENUE ANALYSIS OF LEADING PLAYERS (2016–2020) 158 FIGURE 47 5-YEAR REVENUE ANALYSIS OF TOP 5 PLAYERS IN HVAC SYSTEM MARKET 158 12.4 MARKET SHARE ANALYSIS: HVAC SYSTEM MARKET, 2020 159 TABLE 140 DEGREE OF COMPETITION 159 12.5 COMPANY EVALUATION MATRIX 160 12.5.1 STAR 160 12.5.2 EMERGING LEADER 160 12.5.3 PERVASIVE 160 12.5.4 PARTICIPANT 160 FIGURE 48 COMPANY EVALUATION MATRIX, 2020 161 12.6 STARTUP EVALUATION MATRIX 162 TABLE 141 LIST OF STARTUPS IN HVAC SYSTEM MARKET 162 12.6.1 PROGRESSIVE COMPANY 163 12.6.2 RESPONSIVE COMPANY 163 12.6.3 DYNAMIC COMPANY 163 12.6.4 STARTING BLOCK 163 FIGURE 49 STARTUP (SME) EVALUATION MATRIX, 2020 164 12.7 COMPANY FOOTPRINT 165 TABLE 142 COMPANY FOOTPRINT 165 TABLE 143 FOOTPRINT OF DIFFERENT TYPES OF HVAC SYSTEMS OFFERED BY DIFFERENT COMPANIES 166 TABLE 144 FOOTPRINT OF DIFFERENT COMPANIES ACROSS DIFFERENT VERTICALS 167 TABLE 145 REGIONAL FOOTPRINT OF DIFFERENT COMPANIES 168 12.8 COMPETITIVE SITUATIONS AND TRENDS 169 12.8.1 PRODUCT LAUNCHES 169 TABLE 146 PRODUCT LAUNCHES, JANUARY 2020–SEPTEMBER 2021 169 12.8.2 DEALS 172 TABLE 147 DEALS, APRIL 2020–SEPTEMBER 2021 172 13 COMPANY PROFILES 176 (Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) * 13.1 INTRODUCTION 176 13.2 KEY PLAYERS 176 13.2.1 DAIKIN 176 TABLE 148 DAIKIN: BUSINESS OVERVIEW 176 FIGURE 50 DAIKIN: COMPANY SNAPSHOT 177 TABLE 149 DAIKIN: PRODUCT/SOLUTION/SERVICE OFFERINGS 177 TABLE 150 DAIKIN: DEALS 178 TABLE 151 DAIKIN: OTHERS 178 13.2.2 JOHNSON CONTROLS 180 TABLE 152 JOHNSON CONTROLS: BUSINESS OVERVIEW 180 FIGURE 51 JOHNSON CONTROLS: COMPANY SNAPSHOT 181 TABLE 153 JOHNSON CONTROLS: PRODUCT/SOLUTION/SERVICE OFFERINGS 181 TABLE 154 JOHNSON CONTROLS: PRODUCT LAUNCHES 182 TABLE 155 JOHNSON CONTROLS: DEALS 182 13.2.3 LG ELECTRONICS 185 TABLE 156 LG ELECTRONICS: BUSINESS OVERVIEW 185 FIGURE 52 LG ELECTRONICS: COMPANY SNAPSHOT 186 TABLE 157 LG ELECTRONICS: PRODUCT/SOLUTION/SERVICE OFFERINGS 186 TABLE 158 LG ELECTRONICS: PRODUCT LAUNCHES 187 13.2.4 CARRIER 189 TABLE 159 CARRIER: BUSINESS OVERVIEW 189 FIGURE 53 CARRIER: COMPANY SNAPSHOT 190 TABLE 160 CARRIER: PRODUCT/SOLUTION/SERVICE OFFERINGS 190 TABLE 161 CARRIER: PRODUCT LAUNCHES 192 TABLE 162 CARRIER: DEALS 193 13.2.5 TRANE TECHNOLOGIES 195 TABLE 163 TRANE TECHNOLOGIES: BUSINESS OVERVIEW 195 FIGURE 54 TRANE TECHNOLOGIES: COMPANY SNAPSHOT 196 TABLE 164 TRANE TECHNOLOGIES: PRODUCT/SOLUTION/SERVICE OFFERINGS 196 TABLE 165 TRANE TECHNOLOGIES: PRODUCT LAUNCHES 197 TABLE 166 TRANE TECHNOLOGIES: DEALS 198 13.2.6 EMERSON 200 TABLE 167 EMERSON: BUSINESS OVERVIEW 200 FIGURE 55 EMERSON: COMPANY SNAPSHOT 201 TABLE 168 EMERSON: PRODUCT/SOLUTION/SERVICE OFFERINGS 201 TABLE 169 EMERSON: PRODUCT LAUNCHES 202 TABLE 170 EMERSON: DEALS 202 TABLE 171 EMERSON: OTHERS 203 13.2.7 HONEYWELL 204 TABLE 172 HONEYWELL: BUSINESS OVERVIEW 204 FIGURE 56 HONEYWELL: COMPANY SNAPSHOT 205 TABLE 173 HONEYWELL: PRODUCT/SOLUTION/SERVICE OFFERINGS 205 TABLE 174 HONEYWELL: PRODUCT LAUNCHES 206 TABLE 175 HONEYWELL: DEALS 207 TABLE 176 HONEYWELL: OTHERS 207 13.2.8 MITSUBISHI ELECTRIC 208 TABLE 177 MITSUBISHI ELECTRIC: BUSINESS OVERVIEW 208 FIGURE 57 MITSUBISHI ELECTRIC: COMPANY SNAPSHOT 209 TABLE 178 MITSUBISHI ELECTRIC: PRODUCT/SOLUTION/SERVICE OFFERINGS 209 TABLE 179 MITSUBISHI ELECTRIC: PRODUCT LAUNCHES 210 TABLE 180 MITSUBISHI ELECTRIC: DEALS 211 TABLE 181 MITSUBISHI ELECTRIC: OTHERS 211 13.2.9 SAMSUNG 212 TABLE 182 SAMSUNG: BUSINESS OVERVIEW 212 FIGURE 58 SAMSUNG: COMPANY SNAPSHOT 213 TABLE 183 SAMSUNG: PRODUCT/SOLUTION/SERVICE OFFERINGS 213 TABLE 184 SAMSUNG: PRODUCT LAUNCHES 214 TABLE 185 SAMSUNG: OTHERS 214 13.2.10 NORTEK 215 TABLE 186 NORTEK: BUSINESS OVERVIEW 215 TABLE 187 NORTEK: PRODUCT/SOLUTION/SERVICE OFFERINGS 215 TABLE 188 NORTEK: PRODUCT LAUNCHES 216 TABLE 189 NORTEK: DEALS 217 TABLE 190 NORTEK: OTHERS 217 13.3 OTHER KEY PLAYERS 218 13.3.1 DANFOSS 218 13.3.2 FUJITSU 219 13.3.3 GREE 219 13.3.4 HITACHI 220 13.3.5 MIDEA 221 13.3.6 PANASONIC 221 13.3.7 HAIER SMART HOME 222 13.3.8 TOSHIBA 223 13.3.9 WHIRLPOOL 223 13.3.10 SIEMENS 224 13.3.11 ELECTROLUX 225 13.3.12 LENNOX 226 13.3.13 SCHNEIDER ELECTRIC 227 13.3.14 FERROLI 227 13.3.15 BOSCH THERMOTECHNOLOGY 228 *Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies. 14 APPENDIX 229 14.1 DISCUSSION GUIDE 229 14.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 232 14.3 AVAILABLE CUSTOMIZATIONS 234 14.4 RELATED REPORTS 234 14.5 AUTHOR DETAILS 235
SummaryThe HVAC system market size is estimated to be USD 197.0 billion in 2021 and is projected to reach USD 271.5 billion by 2026; it is expected to grow at a CAGR of 6.6% from 2021 to 2026. According to the Consumer Technology Association (CTA), the number of smart homes in the US is expected to reach ~35.2 million units by 2020. The growth in smart homes is expected to create demand for HVAC systems. An HVAC system is used in smart homes for controlling air temperature, humidity, and fresh air intake. It helps maintain better airflow and comfortable temperatures in every room. In a smart home, one can monitor the system performance and respond to system-generated alarms from local or remote locations. Table of Contents
1 INTRODUCTION 28
1.1 STUDY OBJECTIVES 28 1.2 MARKET DEFINITION AND SCOPE 28 1.2.1 INCLUSIONS AND EXCLUSIONS 29 1.3 STUDY SCOPE 29 1.3.1 MARKETS COVERED 29 1.3.2 GEOGRAPHIC SCOPE 30 1.3.3 YEARS CONSIDERED 30 1.4 CURRENCY 30 1.5 MARKET STAKEHOLDERS 31 1.6 SUMMARY OF CHANGES 31 2 RESEARCH METHODOLOGY 32 2.1 RESEARCH DATA 32 FIGURE 1 HVAC SYSTEM MARKET: RESEARCH DESIGN 32 2.1.1 SECONDARY DATA 33 2.1.1.1 List of major secondary sources 33 2.1.1.2 Key data from secondary sources 33 2.1.2 PRIMARY DATA 34 2.1.2.1 Key data from primary sources 34 2.1.2.2 Breakdown of primaries 34 2.1.3 SECONDARY AND PRIMARY RESEARCH 35 2.1.3.1 Key industry insights 36 2.2 MARKET SIZE ESTIMATION 36 FIGURE 2 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY SIDE ANALYSIS 37 FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE)—IDENTIFICATION OF REVENUE GENERATED BY COMPANIES FROM HVAC SYSTEM BUSINESS 37 2.2.1 BOTTOM-UP APPROACH 38 2.2.1.1 Approach for arriving at market size using bottom-up analysis 38 FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 39 FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH FOR ESTIMATING SIZE OF HVAC SYSTEM MARKET 39 2.2.2 TOP-DOWN APPROACH 40 2.2.2.1 Approach for arriving at market size using top-down analysis 40 FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 40 2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 41 FIGURE 7 MARKET BREAKDOWN AND DATA TRIANGULATION 41 2.4 RESEARCH ASSUMPTIONS 42 FIGURE 8 ASSUMPTION FOR RESEARCH STUDY 42 2.5 LIMITATIONS 42 2.6 RISK ASSESSMENT 43 TABLE 1 LIMITATIONS AND ASSOCIATED RISKS 43 3 EXECUTIVE SUMMARY 44 FIGURE 9 GLOBAL PROPAGATION OF COVID-19 45 TABLE 2 RECOVERY SCENARIOS FOR GLOBAL ECONOMY 45 3.1 REALISTIC SCENARIO 46 3.2 OPTIMISTIC SCENARIO 46 3.3 PESSIMISTIC SCENARIO 46 FIGURE 10 GROWTH PROJECTIONS OF HVAC SYSTEM MARKET IN REALISTIC, OPTIMISTIC, AND PESSIMISTIC SCENARIOS 47 FIGURE 11 UNITARY AIR CONDITIONERS SEGMENT TO HOLD LARGEST SHARE OF HVAC SYSTEM MARKET DURING FORECAST PERIOD 48 FIGURE 12 HVAC SYSTEM MARKET FOR FURNACES TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 48 FIGURE 13 HVAC SYSTEM MARKET FOR AIR PURIFIERS TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD 49 FIGURE 14 HVAC SYSTEM MARKET FOR NEW CONSTRUCTION TO HOLD HIGHER MARKET SHARE DURING FORECAST PERIOD 49 FIGURE 15 HVAC SYSTEM MARKET FOR COMMERCIAL APPLICATION TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 50 FIGURE 16 APAC HVAC SYSTEM MARKET TO EXHIBIT HIGHEST SHARE FROM 2021 TO 2026 51 4 PREMIUM INSIGHTS 52 4.1 ATTRACTIVE OPPORTUNITIES IN HVAC SYSTEM MARKET 52 FIGURE 17 IMPLEMENTATION OF IOT WITH HVAC SYSTEMS HAS FUEL THEIR DEMAND IN COMMERCIAL AND RESIDENTIAL APPLICATIONS 52 4.2 HVAC SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY AND EQUIPMENT TYPE 52 FIGURE 18 US AND HEATING EQUIPMENT SEGMENT ARE EXPECTED TO HOLD LARGEST SHARES OF NORTH AMERICAN HVAC SYSTEM MARKET IN 2021 52 4.3 HVAC SYSTEM MARKET, BY APPLICATION 53 FIGURE 19 OFFICE SUB-SEGMENT TO HOLD LARGEST SHARE OF HVAC SYSTEM MARKET FOR COMMERCIAL APPLICATION DURING FORECAST PERIOD 53 4.4 HVAC SYSTEM MARKET, BY COUNTRY 53 FIGURE 20 HVAC SYSTEM MARKET IN INDIA TO REGISTER HIGHEST CAGR FROM 2021 TO 2026 53 5 MARKET OVERVIEW 54 5.1 INTRODUCTION 54 5.2 MARKET DYNAMICS 54 FIGURE 21 HVAC SYSTEM MARKET DYNAMICS 54 FIGURE 22 DRIVERS AND THEIR IMPACT ON HVAC SYSTEM MARKET 55 FIGURE 23 OPPORTUNITIES AND THEIR IMPACT ON HVAC SYSTEM MARKET 56 FIGURE 24 RESTRAINTS & CHALLENGES AND THEIR IMPACT ON HVAC SYSTEM MARKET 57 5.2.1 DRIVERS 57 5.2.1.1 Surging demand for energy-efficient solutions 57 5.2.1.2 Rising tax credit programs and incentives by governments worldwide to install high-efficiency HVAC systems 58 5.2.1.3 Increasing government regulatory policies and incentives to ensure energy saving and conservation of natural resources 58 5.2.1.4 Growing trend of smart homes 58 5.2.1.5 Elevating need to upgrade or refurbish commercial buildings 59 5.2.2 RESTRAINTS 59 5.2.2.1 Higher installation cost of energy-efficient HVAC systems 59 5.2.2.2 Shortage of skilled labor 59 5.2.3 OPPORTUNITIES 60 5.2.3.1 Rapid transformation of IoT within HVAC industry 60 5.2.3.2 High penetration of VRF systems in residential and commercial applications 60 5.2.3.3 Constant efforts to develop next-generation low global warming potential refrigerants for HVAC systems 60 5.2.4 CHALLENGES 61 5.2.4.1 Lack of awareness about benefits of HVAC systems in developing countries 61 5.3 VALUE CHAIN ANALYSIS 61 FIGURE 25 VALUE CHAIN ANALYSIS: HVAC SYSTEM MARKET 61 5.4 SOFTWARE AND SERVICES 62 FIGURE 26 SOFTWARE AND SERVICES USED IN HVAC SYSTEMS 62 5.4.1 SOFTWARE 63 TABLE 3 DIFFERENT FUNCTIONALITIES OF HVAC SOFTWARE 63 5.4.2 SERVICES 64 5.5 HVAC INDUSTRY ECOSYSTEM 64 FIGURE 27 ECOSYSTEM OF HVAC INDUSTRY 64 TABLE 4 SUPPLY CHAIN 65 5.6 PORTER’S FIVE FORCES ANALYSIS 66 TABLE 5 HVAC SYSTEM MARKET: PORTER’S FIVE FORCES ANALYSIS 66 5.6.1 DEGREE OF COMPETITION 66 5.6.2 BARGAINING POWER OF SUPPLIERS 66 5.6.3 BARGAINING POWER OF BUYERS 66 5.6.4 THREAT OF SUBSTITUTES 67 5.6.5 THREAT OF NEW ENTRANTS 67 5.7 CASE STUDIES FOR HVAC SYSTEM MARKET 67 5.7.1 DAIKIN DEVELOPED WATER-SOURCE VRV HEAT RECOVERY SYSTEM FOR DUKE ELLINGTON HIGH SCHOOL IN COLUMBIA 67 5.7.2 DAIKIN TECHNOLOGY MAKES GRADES AT FLORIDA MIDDLE SCHOOL TO OFFER IMPROVED COMFORT AND EXCEPTIONAL ENERGY SAVINGS 67 5.7.3 LG OFFERED COMPLETE HVAC SOLUTION TO LOTTE HOTELS & RESORTS IN MYANMAR 67 5.7.4 HVAC SYSTEMS BY TRANE TECHNOLOGIES OFFERED HIGH-END EXPERIENCE TO CORE FITNESS 68 5.7.5 TRANE TECHNOLOGIES OFFERED HVAC SYSTEM TO FLORIDA’S HILLSBOROUGH COMMUNITY COLLEGE 68 5.8 TECHNOLOGY ANALYSIS 68 5.8.1 SMART HVAC TECHNOLOGY 68 5.8.2 GEOTHERMAL HVAC TECHNOLOGY 68 5.8.3 DUCTLESS HVAC SYSTEMS 69 5.8.4 THERMALLY DRIVEN AIR CONDITIONING 69 5.8.5 DUAL FUEL HEAT PUMP TECHNOLOGY 69 5.8.6 ZONED HVAC SYSTEMS 69 5.9 AVERAGE SELLING PRICE (ASP) TREND ANALYSIS 69 FIGURE 28 AVERAGE SELLING PRICES OF DIFFERENT EQUIPMENT USED IN HVAC SYSTEMS (USD) 70 TABLE 6 HVAC INSTALLATION COSTS, BY TYPE, 2020 70 5.10 TRADE ANALYSIS 70 5.10.1 EXPORT SCENARIO 71 TABLE 7 EXPORT SCENARIO FOR HS CODE: 8415, BY COUNTRY, 2016–2020 (USD THOUSAND) 71 FIGURE 29 EXPORT DATA FOR TOP FIVE COUNTRIES, BY HS CODE 8415, 2016–2020 (USD THOUSAND) 71 5.10.2 IMPORT SCENARIO 72 TABLE 8 IMPORT SCENARIO FOR HS CODE 8415, BY COUNTRY, 2016–2020 (USD THOUSAND) 72 FIGURE 30 IMPORT DATA FOR TOP FIVE COUNTRIES, BY HS CODE 8415, 2016–2020 (USD THOUSAND) 72 5.11 PATENT ANALYSIS 73 TABLE 9 PATENTS FILED FOR HVAC SYSTEM, 2019–2021 73 5.12 TARIFFS & REGULATIONS 74 5.12.1 TARIFFS RELATED TO HVAC SYSTEM MARKET 74 TABLE 10 TARIFF IMPOSED BY US ON EXPORT OF AIR-CONDITIONING MACHINES COMPRISING MOTOR-DRIVEN FAN AND ELEMENTS FOR CHANGING TEMPERATURE AND HUMIDITY, INCLUDING MACHINES IN WHICH HUMIDITY CANNOT BE SEPARATELY REGULATED, BY COUNTRY, 2020 74 TABLE 11 TARIFF IMPOSED BY CHINA ON EXPORT OF AIR CONDITIONING MACHINES COMPRISING MOTOR-DRIVEN FAN AND ELEMENTS FOR CHANGING TEMPERATURE AND HUMIDITY, INCLUDING MACHINES IN WHICH HUMIDITY CANNOT BE SEPARATELY REGULATED, BY COUNTRY, 2020 75 TABLE 12 TARIFF IMPOSED BY INDIA ON EXPORT OF AIR CONDITIONING MACHINES COMPRISING MOTOR-DRIVEN FAN AND ELEMENTS FOR CHANGING TEMPERATURE AND HUMIDITY, INCLUDING MACHINES IN WHICH HUMIDITY CANNOT BE SEPARATELY REGULATED, BY COUNTRY, 2020 75 5.12.2 STANDARDS AND REGULATIONS RELATED TO HVAC SYSTEM MARKET 75 5.12.2.1 Environmental HVAC requirements 76 5.12.2.1.1 Current HCFC regulations 76 5.12.2.1.2 New HFC regulations 76 5.12.2.1.3 US regulations 76 5.12.2.1.4 Canadian regulations 76 5.12.2.2 HVAC efficiency standards 77 5.12.2.3 HVAC tech certifications 77 5.12.2.4 Workforce shortages 77 5.12.2.5 Smart HVAC 77 5.13 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESSES 77 FIGURE 31 REVENUE SHIFT FOR HVAC SYSTEM MARKET 78 6 HVAC SYSTEM MARKET, BY COOLING EQUIPMENT 79 6.1 INTRODUCTION 80 FIGURE 32 HVAC SYSTEM MARKET, BY COOLING EQUIPMENT 80 FIGURE 33 UNITARY AIR CONDITIONERS TO HOLD LARGEST SHARE OF HVAC SYSTEM MARKET FOR COOLING EQUIPMENT IN 2026 80 TABLE 13 HVAC SYSTEM MARKET, BY COOLING EQUIPMENT, 2017–2020 (USD BILLION) 81 TABLE 14 HVAC SYSTEM MARKET, BY COOLING EQUIPMENT, 2021–2026 (USD BILLION) 81 TABLE 15 HVAC SYSTEM MARKET FOR COOLING EQUIPMENT, BY APPLICATION, 2017–2020 (USD BILLION) 82 TABLE 16 HVAC SYSTEM MARKET FOR COOLING EQUIPMENT, BY APPLICATION, 2021–2026 (USD BILLION) 82 TABLE 17 HVAC SYSTEM MARKET FOR COOLING EQUIPMENT, BY REGION, 2017–2020 (USD BILLION) 82 TABLE 18 HVAC SYSTEM MARKET FOR COOLING EQUIPMENT, BY REGION, 2021–2026 (USD BILLION) 83 6.2 UNITARY AIR CONDITIONERS 83 6.2.1 COMMERCIAL SEGMENT TO ACCOUNT FOR LARGEST SHARE OF COOLING EQUIPMENT MARKET FOR UNITARY AIR CONDITIONERS 83 TABLE 19 AHRI STANDARDS RELATED TO UNITARY AIR CONDITIONERS 83 6.2.1.1 Split air conditioners 84 6.2.1.2 Packaged air conditioners 84 TABLE 20 HVAC SYSTEM MARKET FOR UNITARY AIR CONDITIONERS, BY APPLICATION, 2017–2020 (USD BILLION) 84 TABLE 21 HVAC SYSTEM MARKET FOR UNITARY AIR CONDITIONERS, BY APPLICATION, 2021–2026 (USD BILLION) 84 TABLE 22 HVAC SYSTEM MARKET FOR UNITARY AIR CONDITIONERS, BY REGION, 2017–2020 (USD BILLION) 85 TABLE 23 HVAC SYSTEM MARKET FOR UNITARY AIR CONDITIONERS, BY REGION, 2021–2026 (USD BILLION) 85 6.3 VRF SYSTEMS 85 6.3.1 APAC TO HOLD LARGEST SIZE OF VRF SYSTEMS MARKET 85 TABLE 24 HVAC SYSTEM MARKET FOR VRF SYSTEMS, BY APPLICATION, 2017–2020 (USD BILLION) 86 TABLE 25 HVAC SYSTEM MARKET FOR VRF SYSTEMS, BY APPLICATION, 2021–2026 (USD BILLION) 86 TABLE 26 HVAC SYSTEM MARKET FOR VRF SYSTEMS, BY REGION, 2017–2020 (USD BILLION) 86 TABLE 27 HVAC SYSTEM MARKET FOR VRF SYSTEMS, BY REGION, 2021–2026 (USD BILLION) 87 6.4 CHILLERS 87 6.4.1 COMMERCIAL SEGMENT TO ACCOUNT FOR LARGEST SIZE OF CHILLERS MARKET 87 6.4.1.1 Scroll chillers 87 6.4.1.2 Screw chillers 87 6.4.1.3 Centrifugal chillers 88 6.4.1.4 Reciprocating chillers 88 6.4.1.5 Absorption chillers 88 TABLE 28 HVAC SYSTEM MARKET FOR CHILLERS, BY APPLICATION, 2017–2020 (USD BILLION) 89 TABLE 29 HVAC SYSTEM MARKET FOR CHILLERS, BY APPLICATION, 2021–2026 (USD BILLION) 89 TABLE 30 HVAC SYSTEM MARKET FOR CHILLERS, BY REGION, 2017–2020 (USD BILLION) 89 TABLE 31 HVAC SYSTEM MARKET FOR CHILLERS, BY REGION, 2021–2026 (USD BILLION) 90 6.5 ROOM AIR CONDITIONERS 90 6.5.1 RESIDENTIAL SEGMENT TO HOLD LARGEST SHARE OF ROOM AIR CONDITIONERS MARKET 90 TABLE 32 HVAC SYSTEM MARKET FOR ROOM AIR CONDITIONERS, BY APPLICATION, 2017–2020 (USD MILLION) 90 TABLE 33 HVAC SYSTEM MARKET FOR ROOM AIR CONDITIONERS, BY APPLICATION, 2021–2026 (USD MILLION) 91 TABLE 34 HVAC SYSTEM MARKET FOR ROOM AIR CONDITIONERS, BY REGION, 2017–2020 (USD MILLION) 91 TABLE 35 HVAC SYSTEM MARKET FOR ROOM AIR CONDITIONERS, BY REGION, 2021–2026 (USD MILLION) 91 6.6 COOLERS 92 6.6.1 RESIDENTIAL SEGMENT TO ACCOUNT FOR LARGEST SHARE OF COOLERS MARKET 92 6.6.1.1 Ducted coolers 92 6.6.1.2 Window coolers 92 TABLE 36 HVAC SYSTEM MARKET FOR COOLERS, BY APPLICATION, 2017–2020 (USD MILLION) 92 TABLE 37 HVAC SYSTEM MARKET FOR COOLERS, BY APPLICATION, 2021–2026 (USD MILLION) 92 TABLE 38 HVAC SYSTEM MARKET FOR COOLERS, BY REGION, 2017–2020 (USD MILLION) 93 TABLE 39 HVAC SYSTEM MARKET FOR COOLERS, BY REGION, 2021–2026 (USD MILLION) 93 6.7 COOLING TOWERS 93 6.7.1 APAC TO HOLD LARGEST SIZE OF COOLING TOWERS MARKET 93 6.7.1.1 Evaporative cooling towers 93 6.7.1.2 Dry cooling towers 94 6.7.1.3 Hybrid cooling towers 94 TABLE 40 HVAC SYSTEM MARKET FOR COOLING TOWERS, BY APPLICATION, 2017–2020 (USD MILLION) 95 TABLE 41 HVAC SYSTEM MARKET FOR COOLING TOWERS, BY APPLICATION, 2021–2026 (USD MILLION) 95 TABLE 42 HVAC SYSTEM MARKET FOR COOLING TOWERS, BY REGION, 2017–2020 (USD MILLION) 95 TABLE 43 HVAC SYSTEM MARKET FOR COOLING TOWERS, BY REGION, 2021–2026 (USD MILLION) 95 7 HVAC SYSTEM MARKET, BY HEATING EQUIPMENT 96 7.1 INTRODUCTION 97 FIGURE 34 HVAC SYSTEM MARKET, BY HEATING EQUIPMENT 97 FIGURE 35 HEAT PUMPS TO HOLD LARGEST SHARE OF HVAC SYSTEM MARKET DURING FORECAST PERIOD 97 TABLE 44 HVAC SYSTEM MARKET, BY HEATING EQUIPMENT, 2017–2020 (USD BILLION) 98 TABLE 45 HVAC SYSTEM MARKET, BY HEATING EQUIPMENT, 2021–2026 (USD BILLION) 98 TABLE 46 HVAC SYSTEM MARKET FOR HEATING EQUIPMENT, BY APPLICATION, 2017–2020 (USD BILLION) 99 TABLE 47 HVAC SYSTEM MARKET FOR HEATING EQUIPMENT, BY APPLICATION, 2021–2026 (USD BILLION) 99 TABLE 48 HVAC SYSTEM MARKET FOR HEATING EQUIPMENT, BY REGION, 2017–2020 (USD BILLION) 99 TABLE 49 HVAC SYSTEM MARKET FOR HEATING EQUIPMENT, BY REGION, 2021–2026 (USD BILLION) 100 7.2 HEAT PUMPS 100 7.2.1 GOVERNMENT SUPPORT TO BOOST GROWTH OF HEAT PUMPS MARKET 100 7.2.1.1 Air-to-air heat pumps 100 7.2.1.2 Air-to-water heat pumps 101 7.2.1.3 Water-to-water heat pumps 101 TABLE 50 HVAC SYSTEM MARKET, FOR HEAT PUMP, BY APPLICATION, 2017–2020 (USD BILLION) 101 TABLE 51 HVAC SYSTEM MARKET FOR HEAT PUMP, BY APPLICATION, 2021–2026 (USD BILLION) 101 TABLE 52 HVAC SYSTEM MARKET FOR HEAT PUMP, BY REGION, 2017–2020 (USD BILLION) 102 TABLE 53 HVAC SYSTEM MARKET FOR HEAT PUMP, BY REGION, 2021–2026 (USD BILLION) 102 7.3 FURNACES 102 7.3.1 LOW COST AND HIGH EFFICIENCY TO FUEL DEMAND FOR ELECTRIC FURNACES 102 7.3.1.1 Oil furnaces 102 7.3.1.2 Gas furnaces 103 7.3.1.3 Electric furnaces 103 TABLE 54 HVAC SYSTEM MARKET FOR FURNACE, BY APPLICATION, 2017–2020 (USD BILLION) 103 TABLE 55 HVAC SYSTEM MARKET FOR FURNACE, BY APPLICATION, 2021–2026 (USD BILLION) 103 TABLE 56 HVAC SYSTEM MARKET FOR FURNACE, BY REGION, 2017–2020 (USD BILLION) 104 TABLE 57 HVAC SYSTEM MARKET FOR FURNACE, BY REGION, 2021–2026 (USD BILLION) 104 7.4 UNITARY HEATERS 104 7.4.1 HIGH EFFICIENCY OF UNITARY HEATERS TO BOOST MARKET GROWTH 104 7.4.1.1 Gas unit heaters 104 7.4.1.2 Oil-fired unit heaters 104 7.4.1.3 Electric unit heaters 105 TABLE 58 HVAC SYSTEM MARKET FOR UNITARY HEATER, BY APPLICATION, 2017–2020 (USD BILLION) 105 TABLE 59 HVAC SYSTEM MARKET FOR UNITARY HEATER, BY APPLICATION, 2021–2026 (USD BILLION) 105 TABLE 60 HVAC SYSTEM MARKET FOR UNITARY HEATER, BY REGION, 2017–2020 (USD MILLION) 105 TABLE 61 HVAC SYSTEM MARKET FOR UNITARY HEATER, BY REGION, 2021–2026 (USD MILLION) 106 7.5 BOILERS 106 7.5.1 RESIDENTIAL SEGMENT TO HOLD LARGEST SHARE OF HVAC SYSTEM MARKET FOR BOILERS 106 7.5.1.1 Steam boilers 106 7.5.1.2 Hot water boilers 106 TABLE 62 HVAC SYSTEM MARKET FOR BOILER, BY APPLICATION, 2017–2020 (USD BILLION) 107 TABLE 63 HVAC SYSTEM MARKET FOR BOILER, BY APPLICATION, 2021–2026 (USD BILLION) 107 TABLE 64 HVAC SYSTEM MARKET FOR BOILER, BY REGION, 2017–2020 (USD MILLION) 107 TABLE 65 HVAC SYSTEM MARKET FOR BOILER, BY REGION, 2021–2026 (USD MILLION) 107 8 HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT 108 8.1 INTRODUCTION 109 FIGURE 36 HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT 109 FIGURE 37 AIR-HANDLING UNITS SEGMENT TO HOLD LARGEST SHARE OF HVAC SYSTEM MARKET DURING FORECAST PERIOD 109 TABLE 66 HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT, 2017–2020 (USD BILLION) 110 TABLE 67 HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT, 2021–2026 (USD BILLION) 110 TABLE 68 HVAC SYSTEM MARKET FOR VENTILATION EQUIPMENT, BY APPLICATION, 2017–2020 (USD BILLION) 111 TABLE 69 HVAC SYSTEM MARKET FOR VENTILATION EQUIPMENT, BY APPLICATION, 2021–2026 (USD BILLION) 111 TABLE 70 HVAC SYSTEM MARKET FOR VENTILATION EQUIPMENT, BY REGION, 2017–2020 (USD BILLION) 111 TABLE 71 HVAC SYSTEM MARKET FOR VENTILATION EQUIPMENT, BY REGION, 2021–2026 (USD BILLION) 112 8.2 AIR-HANDLING UNITS 112 8.2.1 COMMERCIAL SEGMENT TO ACCOUNT FOR LARGEST SIZE OF HVAC SYSTEM MARKET FOR AIR-HANDLING UNITS 112 TABLE 72 HVAC SYSTEM MARKET FOR AIR-HANDLING UNITS, BY APPLICATION, 2017–2020 (USD BILLION) 112 TABLE 73 HVAC SYSTEM MARKET FOR AIR-HANDLING UNITS, BY APPLICATION, 2021–2026 (USD BILLION) 113 TABLE 74 HVAC SYSTEM MARKET FOR AIR-HANDLING UNITS, BY REGION, 2017–2020 (USD BILLION) 113 TABLE 75 HVAC SYSTEM MARKET FOR AIR-HANDLING UNITS, BY REGION, 2021–2026 (USD BILLION) 113 8.3 AIR FILTERS 114 8.3.1 APAC TO HOLD LARGEST SIZE OF AIR FILTERS MARKET 114 TABLE 76 HVAC SYSTEM MARKET FOR AIR FILTERS, BY APPLICATION, 2017–2020 (USD BILLION) 114 TABLE 77 HVAC SYSTEM MARKET FOR AIR FILTERS, BY APPLICATION, 2021–2026 (USD BILLION) 114 TABLE 78 HVAC SYSTEM MARKET FOR AIR FILTERS, BY REGION, 2017–2020 (USD MILLION) 115 TABLE 79 HVAC SYSTEM MARKET FOR AIR FILTERS, BY REGION, 2021–2026 (USD MILLION) 115 8.4 DEHUMIDIFIERS 115 8.4.1 INDUSTRIAL SEGMENT TO ACCOUNT FOR LARGEST SIZE OF HVAC SYSTEM MARKET FOR DEHUMIDIFIERS 115 8.4.1.1 Refrigeration dehumidifiers 115 8.4.1.2 Absorption dehumidifiers 116 TABLE 80 HVAC SYSTEM MARKET FOR DEHUMIDIFIERS, BY APPLICATION, 2017–2020 (USD BILLION) 116 TABLE 81 HVAC SYSTEM MARKET FOR DEHUMIDIFIERS, BY APPLICATION, 2021–2026 (USD BILLION) 116 TABLE 82 HVAC SYSTEM MARKET FOR DEHUMIDIFIERS, BY REGION, 2017–2020 (USD MILLION) 116 TABLE 83 HVAC SYSTEM MARKET FOR DEHUMIDIFIERS, BY REGION, 2021–2026 (USD MILLION) 117 8.5 VENTILATION FANS 117 8.5.1 APAC TO HOLD LARGEST SIZE OF VENTILATION FANS MARKET 117 8.5.1.1 Crossflow fans 117 8.5.1.2 Axial fans 117 8.5.1.3 Centrifugal fans 117 8.5.1.4 Domestic fans 117 8.5.1.5 Range hood fans 118 8.5.1.6 Power roof fans 118 TABLE 84 HVAC SYSTEM MARKET FOR VENTILATION FANS, BY APPLICATION, 2017–2020 (USD BILLION) 118 TABLE 85 HVAC SYSTEM MARKET FOR VENTILATION FANS, BY APPLICATION, 2021–2026 (USD BILLION) 118 TABLE 86 HVAC SYSTEM MARKET FOR VENTILATION FANS, BY REGION, 2017–2020 (USD MILLION) 119 TABLE 87 HVAC SYSTEM MARKET FOR VENTILATION FANS, BY REGION, 2021–2026 (USD MILLION) 119 8.6 HUMIDIFIERS 119 8.6.1 COMMERCIAL SEGMENT TO ACCOUNT FOR LARGEST SHARE OF HVAC SYSTEM MARKET FOR HUMIDIFIERS 119 8.6.1.1 Warm-mist humidifiers 119 8.6.1.2 Ultrasonic humidifiers 120 8.6.1.3 Cool-mist humidifiers 120 TABLE 88 HVAC SYSTEM MARKET FOR HUMIDIFIERS, BY APPLICATION, 2017–2020 (USD MILLION) 120 TABLE 89 HVAC SYSTEM MARKET FOR HUMIDIFIERS, BY APPLICATION, 2021–2026 (USD MILLION) 120 TABLE 90 HVAC SYSTEM MARKET FOR HUMIDIFIERS, BY REGION, 2017–2020 (USD MILLION) 120 TABLE 91 HVAC SYSTEM MARKET FOR HUMIDIFIERS, BY REGION, 2021–2026 (USD MILLION) 121 8.7 AIR PURIFIERS 121 8.7.1 APAC AIR PURIFIER MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 121 8.7.1.1 HEPA air purifiers 121 8.7.1.2 Activated carbon air purifiers 121 8.7.1.3 Electrostatic air purifiers 121 8.7.1.4 Ionic air purifiers 121 TABLE 92 HVAC SYSTEM MARKET FOR AIR PURIFIERS, BY APPLICATION, 2017–2020 (USD MILLION) 122 TABLE 93 HVAC SYSTEM MARKET FOR AIR PURIFIERS, BY APPLICATION, 2021–2026 (USD MILLION) 122 TABLE 94 HVAC SYSTEM MARKET FOR AIR PURIFIERS, BY REGION, 2017–2020 (USD MILLION) 122 TABLE 95 HVAC SYSTEM MARKET FOR AIR PURIFIERS, BY REGION, 2021–2026 (USD MILLION) 122 9 HVAC SYSTEM MARKET, BY IMPLEMENTATION TYPE 123 9.1 INTRODUCTION 124 FIGURE 38 HVAC SYSTEM MARKET, BY IMPLEMENTATION TYPE 124 FIGURE 39 NEW CONSTRUCTION SEGMENT TO HOLD LARGER SHARE OF HVAC SYSTEM MARKET IN 2026 124 TABLE 96 HVAC SYSTEM MARKET, BY IMPLEMENTATION TYPE, 2017–2020 (USD BILLION) 125 TABLE 97 HVAC SYSTEM MARKET, BY IMPLEMENTATION TYPE, 2021–2026 (USD BILLION) 125 9.2 NEW CONSTRUCTION 125 9.2.1 GROWING URBANIZATION TO BOOST DEMAND FOR HVAC SYSTEMS IN NEW CONSTRUCTION SEGMENT 125 9.3 RETROFIT 126 9.3.1 GOVERNMENT REGULATIONS FOR GREEN BUILDINGS TO BOOST GROWTH OF HVAC SYSTEM MARKET 126 10 HVAC SYSTEM MARKET, BY APPLICATION 127 10.1 INTRODUCTION 128 FIGURE 40 HVAC SYSTEM MARKET, BY APPLICATION 128 TABLE 98 INDUSTRY-STANDARD RATING PARAMETERS RELATED TO HVAC SYSTEMS 129 FIGURE 41 COMMERCIAL APPLICATION TO HOLD LARGEST SHARE OF HVAC SYSTEM MARKET DURING FORECAST PERIOD 129 TABLE 99 HVAC SYSTEM MARKET, BY APPLICATION, 2017–2020 (USD BILLION) 130 TABLE 100 HVAC SYSTEM MARKET, BY APPLICATION, 2021–2026 (USD BILLION) 130 10.2 COMMERCIAL 131 10.2.1 GROWING ADOPTION OF ENERGY-EFFICIENT EQUIPMENT TO BOOST HVAC SYSTEM MARKET FOR COMMERCIAL SPACES 131 TABLE 101 HVAC SYSTEM MARKET, BY COMMERCIAL APPLICATION, 2017–2020 (USD BILLION) 131 TABLE 102 HVAC SYSTEM MARKET, BY COMMERCIAL APPLICATION, 2021–2026 (USD BILLION) 131 TABLE 103 HVAC SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY COOLING EQUIPMENT, 2017–2020 (USD BILLION) 132 TABLE 104 HVAC SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY COOLING EQUIPMENT, 2021–2026 (USD BILLION) 132 TABLE 105 HVAC SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY HEATING EQUIPMENT, 2017–2020 (USD BILLION) 132 TABLE 106 HVAC SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY HEATING EQUIPMENT, 2021–2026 (USD BILLION) 133 TABLE 107 HVAC SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY VENTILATION EQUIPMENT, 2017–2020 (USD BILLION) 133 TABLE 108 HVAC SYSTEM MARKET FOR COMMERCIAL APPLICATION, BY VENTILATION EQUIPMENT, 2021–2026 (USD BILLION) 133 10.2.1.1 Office 134 10.2.1.2 Government 134 10.2.1.3 Healthcare 134 10.2.1.4 Education 134 10.2.1.5 Retail 134 10.2.1.6 Airport 134 10.3 RESIDENTIAL 135 10.3.1 GOVERNMENT REGULATIONS AND TAX CREDIT PROGRAMS TO PROMOTE USE OF HVAC SYSTEMS IN RESIDENTIAL APPLICATIONS 135 TABLE 109 HVAC SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY COOLING EQUIPMENT, 2017–2020 (USD BILLION) 135 TABLE 110 HVAC SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY COOLING EQUIPMENT, 2021–2026 (USD BILLION) 136 TABLE 111 HVAC SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY HEATING EQUIPMENT, 2017–2020 (USD BILLION) 136 TABLE 112 HVAC SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY HEATING EQUIPMENT, 2021–2026 (USD BILLION) 136 TABLE 113 HVAC SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY VENTILATION EQUIPMENT, 2017–2020 (USD BILLION) 137 TABLE 114 HVAC SYSTEM MARKET FOR RESIDENTIAL APPLICATION, BY VENTILATION EQUIPMENT, 2021–2026 (USD BILLION) 137 10.4 INDUSTRIAL 137 10.4.1 GROWING USE OF ENERGY-EFFICIENT HVAC SYSTEMS IN INDUSTRIAL SPACES TO REDUCE OPERATIONAL COST AND SAVE ENERGY 137 TABLE 115 HVAC SYSTEM MARKET FOR INDUSTRIAL APPLICATION, BY COOLING EQUIPMENT, 2017–2020 (USD BILLION) 138 TABLE 116 HVAC SYSTEM MARKET FOR INDUSTRIAL APPLICATION, BY COOLING EQUIPMENT, 2021–2026 (USD BILLION) 138 TABLE 117 HVAC SYSTEM MARKET FOR INDUSTRIAL APPLICATION, BY HEATING EQUIPMENT, 2017–2020 (USD BILLION) 139 TABLE 118 HVAC SYSTEM MARKET FOR INDUSTRIAL APPLICATION, BY HEATING EQUIPMENT, 2021–2026 (USD BILLION) 139 TABLE 119 HVAC SYSTEM MARKET FOR INDUSTRIAL APPLICATION, BY VENTILATION EQUIPMENT, 2017–2020 (USD BILLION) 139 TABLE 120 HVAC SYSTEM MARKET FOR INDUSTRIAL APPLICATION, BY VENTILATION EQUIPMENT, 2021–2026 (USD BILLION) 140 11 GEOGRAPHIC ANALYSIS 141 11.1 INTRODUCTION 142 FIGURE 42 HVAC SYSTEM MARKET IN APAC TO GROW AT HIGHEST CAGR FROM 2021 TO 2026 142 TABLE 121 HVAC SYSTEM MARKET, BY REGION, 2017–2020 (USD BILLION) 142 TABLE 122 HVAC SYSTEM MARKET, BY REGION, 2021–2026 (USD BILLION) 142 11.2 NORTH AMERICA 143 FIGURE 43 NORTH AMERICA: HVAC SYSTEM MARKET SNAPSHOT 144 TABLE 123 HVAC SYSTEM MARKET IN NORTH AMERICA, BY EQUIPMENT TYPE, 2017–2020 (USD BILLION) 144 TABLE 124 HVAC SYSTEM MARKET IN NORTH AMERICA, BY EQUIPMENT TYPE, 2021–2026 (USD BILLION) 145 TABLE 125 HVAC SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD BILLION) 145 TABLE 126 HVAC SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD BILLION) 145 11.2.1 US 145 11.2.1.1 Increasing number of construction projects to boost HVAC system market growth in US 145 11.2.2 CANADA 146 11.2.2.1 Government initiatives for energy saving to drive demand for HVAC systems in Canada 146 11.2.3 MEXICO 146 11.2.3.1 Increasing focus on promoting use of energy-efficient HVAC systems to drive Mexican market growth 146 11.3 EUROPE 147 FIGURE 44 EUROPE: HVAC SYSTEM MARKET SNAPSHOT 147 TABLE 127 HVAC SYSTEM MARKETIN EUROPE, BY EQUIPMENT TYPE, 2017–2020 (USD BILLION) 148 TABLE 128 HVAC SYSTEM MARKET IN EUROPE, BY EQUIPMENT TYPE, 2021–2026 (USD BILLION) 148 TABLE 129 HVAC SYSTEM MARKET IN EUROPE, BY COUNTRY, 2017–2020 (USD BILLION) 148 TABLE 130 HVAC SYSTEM MARKET IN EUROPE, BY COUNTRY, 2021–2026 (USD BILLION) 148 11.3.1 UK 149 11.3.1.1 High demand for energy-efficient devices from commercial and residential users to boost market growth in UK 149 11.3.2 GERMANY 149 11.3.2.1 Increasing innovations in software solutions for HVAC professionals to support growth of German market 149 11.3.3 FRANCE 149 11.3.3.1 Rising focus on reducing greenhouse gases to spur demand for HVAC systems in France 149 11.3.4 REST OF EUROPE 150 11.4 APAC 150 FIGURE 45 APAC: HVAC SYSTEM MARKET SNAPSHOT 151 TABLE 131 HVAC SYSTEM MARKET IN APAC, BY EQUIPMENT TYPE, 2017–2020 (USD BILLION) 151 TABLE 132 HVAC SYSTEM MARKET IN APAC, BY EQUIPMENT TYPE, 2021–2026 (USD BILLION) 152 FIGURE 46 INDIA TO BE FASTEST-GROWING MARKET FOR HVAC SYSTEMS IN APAC DURING FORECAST PERIOD 152 TABLE 133 HVAC SYSTEM MARKET IN APAC, BY COUNTRY, 2017–2020 (USD BILLION) 152 TABLE 134 HVAC SYSTEM MARKET IN APAC, BY COUNTRY, 2021–2026 (USD BILLION) 153 11.4.1 CHINA 153 11.4.1.1 Growing industrialization and urbanization in China to fuel growth of HVAC system market 153 11.4.2 INDIA 153 11.4.2.1 Surging need to save energy to boost demand for HVAC systems in India 153 11.4.3 JAPAN 154 11.4.3.1 Strict regulations for energy conservation to upsurge demand for HVAC systems in Japan 154 11.4.4 REST OF APAC 154 11.5 ROW 154 TABLE 135 HVAC SYSTEM MARKET IN ROW, BY EQUIPMENT TYPE, 2017–2020 (USD BILLION) 154 TABLE 136 HVAC SYSTEM MARKET IN ROW, BY EQUIPMENT TYPE, 2021–2026 (USD BILLION) 154 TABLE 137 HVAC SYSTEM MARKET IN ROW, BY COUNTRY, 2017–2020 (USD BILLION) 155 TABLE 138 HVAC SYSTEM MARKET IN ROW, BY COUNTRY, 2021–2026 (USD BILLION) 155 11.5.1 SOUTH AMERICA 155 11.5.1.1 Strong focus on infrastructure development in South America to boost HVAC system market growth 155 11.5.2 MIDDLE EAST & AFRICA 155 11.5.2.1 Stringent regulations for enhancing energy performance of buildings to drive market growth in Middle East & Africa 155 12 COMPETITIVE LANDSCAPE 157 12.1 OVERVIEW 157 12.2 MARKET EVALUATION FRAMEWORK 157 TABLE 139 OVERVIEW OF STRATEGIES DEPLOYED BY KEY HVAC SYSTEM PLAYERS 157 12.2.1 PRODUCT PORTFOLIO 158 12.2.2 REGIONAL FOCUS 158 12.2.3 MANUFACTURING FOOTPRINT 158 12.2.4 ORGANIC/INORGANIC GROWTH STRATEGIES 158 12.3 REVENUE ANALYSIS OF LEADING PLAYERS (2016–2020) 158 FIGURE 47 5-YEAR REVENUE ANALYSIS OF TOP 5 PLAYERS IN HVAC SYSTEM MARKET 158 12.4 MARKET SHARE ANALYSIS: HVAC SYSTEM MARKET, 2020 159 TABLE 140 DEGREE OF COMPETITION 159 12.5 COMPANY EVALUATION MATRIX 160 12.5.1 STAR 160 12.5.2 EMERGING LEADER 160 12.5.3 PERVASIVE 160 12.5.4 PARTICIPANT 160 FIGURE 48 COMPANY EVALUATION MATRIX, 2020 161 12.6 STARTUP EVALUATION MATRIX 162 TABLE 141 LIST OF STARTUPS IN HVAC SYSTEM MARKET 162 12.6.1 PROGRESSIVE COMPANY 163 12.6.2 RESPONSIVE COMPANY 163 12.6.3 DYNAMIC COMPANY 163 12.6.4 STARTING BLOCK 163 FIGURE 49 STARTUP (SME) EVALUATION MATRIX, 2020 164 12.7 COMPANY FOOTPRINT 165 TABLE 142 COMPANY FOOTPRINT 165 TABLE 143 FOOTPRINT OF DIFFERENT TYPES OF HVAC SYSTEMS OFFERED BY DIFFERENT COMPANIES 166 TABLE 144 FOOTPRINT OF DIFFERENT COMPANIES ACROSS DIFFERENT VERTICALS 167 TABLE 145 REGIONAL FOOTPRINT OF DIFFERENT COMPANIES 168 12.8 COMPETITIVE SITUATIONS AND TRENDS 169 12.8.1 PRODUCT LAUNCHES 169 TABLE 146 PRODUCT LAUNCHES, JANUARY 2020–SEPTEMBER 2021 169 12.8.2 DEALS 172 TABLE 147 DEALS, APRIL 2020–SEPTEMBER 2021 172 13 COMPANY PROFILES 176 (Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) * 13.1 INTRODUCTION 176 13.2 KEY PLAYERS 176 13.2.1 DAIKIN 176 TABLE 148 DAIKIN: BUSINESS OVERVIEW 176 FIGURE 50 DAIKIN: COMPANY SNAPSHOT 177 TABLE 149 DAIKIN: PRODUCT/SOLUTION/SERVICE OFFERINGS 177 TABLE 150 DAIKIN: DEALS 178 TABLE 151 DAIKIN: OTHERS 178 13.2.2 JOHNSON CONTROLS 180 TABLE 152 JOHNSON CONTROLS: BUSINESS OVERVIEW 180 FIGURE 51 JOHNSON CONTROLS: COMPANY SNAPSHOT 181 TABLE 153 JOHNSON CONTROLS: PRODUCT/SOLUTION/SERVICE OFFERINGS 181 TABLE 154 JOHNSON CONTROLS: PRODUCT LAUNCHES 182 TABLE 155 JOHNSON CONTROLS: DEALS 182 13.2.3 LG ELECTRONICS 185 TABLE 156 LG ELECTRONICS: BUSINESS OVERVIEW 185 FIGURE 52 LG ELECTRONICS: COMPANY SNAPSHOT 186 TABLE 157 LG ELECTRONICS: PRODUCT/SOLUTION/SERVICE OFFERINGS 186 TABLE 158 LG ELECTRONICS: PRODUCT LAUNCHES 187 13.2.4 CARRIER 189 TABLE 159 CARRIER: BUSINESS OVERVIEW 189 FIGURE 53 CARRIER: COMPANY SNAPSHOT 190 TABLE 160 CARRIER: PRODUCT/SOLUTION/SERVICE OFFERINGS 190 TABLE 161 CARRIER: PRODUCT LAUNCHES 192 TABLE 162 CARRIER: DEALS 193 13.2.5 TRANE TECHNOLOGIES 195 TABLE 163 TRANE TECHNOLOGIES: BUSINESS OVERVIEW 195 FIGURE 54 TRANE TECHNOLOGIES: COMPANY SNAPSHOT 196 TABLE 164 TRANE TECHNOLOGIES: PRODUCT/SOLUTION/SERVICE OFFERINGS 196 TABLE 165 TRANE TECHNOLOGIES: PRODUCT LAUNCHES 197 TABLE 166 TRANE TECHNOLOGIES: DEALS 198 13.2.6 EMERSON 200 TABLE 167 EMERSON: BUSINESS OVERVIEW 200 FIGURE 55 EMERSON: COMPANY SNAPSHOT 201 TABLE 168 EMERSON: PRODUCT/SOLUTION/SERVICE OFFERINGS 201 TABLE 169 EMERSON: PRODUCT LAUNCHES 202 TABLE 170 EMERSON: DEALS 202 TABLE 171 EMERSON: OTHERS 203 13.2.7 HONEYWELL 204 TABLE 172 HONEYWELL: BUSINESS OVERVIEW 204 FIGURE 56 HONEYWELL: COMPANY SNAPSHOT 205 TABLE 173 HONEYWELL: PRODUCT/SOLUTION/SERVICE OFFERINGS 205 TABLE 174 HONEYWELL: PRODUCT LAUNCHES 206 TABLE 175 HONEYWELL: DEALS 207 TABLE 176 HONEYWELL: OTHERS 207 13.2.8 MITSUBISHI ELECTRIC 208 TABLE 177 MITSUBISHI ELECTRIC: BUSINESS OVERVIEW 208 FIGURE 57 MITSUBISHI ELECTRIC: COMPANY SNAPSHOT 209 TABLE 178 MITSUBISHI ELECTRIC: PRODUCT/SOLUTION/SERVICE OFFERINGS 209 TABLE 179 MITSUBISHI ELECTRIC: PRODUCT LAUNCHES 210 TABLE 180 MITSUBISHI ELECTRIC: DEALS 211 TABLE 181 MITSUBISHI ELECTRIC: OTHERS 211 13.2.9 SAMSUNG 212 TABLE 182 SAMSUNG: BUSINESS OVERVIEW 212 FIGURE 58 SAMSUNG: COMPANY SNAPSHOT 213 TABLE 183 SAMSUNG: PRODUCT/SOLUTION/SERVICE OFFERINGS 213 TABLE 184 SAMSUNG: PRODUCT LAUNCHES 214 TABLE 185 SAMSUNG: OTHERS 214 13.2.10 NORTEK 215 TABLE 186 NORTEK: BUSINESS OVERVIEW 215 TABLE 187 NORTEK: PRODUCT/SOLUTION/SERVICE OFFERINGS 215 TABLE 188 NORTEK: PRODUCT LAUNCHES 216 TABLE 189 NORTEK: DEALS 217 TABLE 190 NORTEK: OTHERS 217 13.3 OTHER KEY PLAYERS 218 13.3.1 DANFOSS 218 13.3.2 FUJITSU 219 13.3.3 GREE 219 13.3.4 HITACHI 220 13.3.5 MIDEA 221 13.3.6 PANASONIC 221 13.3.7 HAIER SMART HOME 222 13.3.8 TOSHIBA 223 13.3.9 WHIRLPOOL 223 13.3.10 SIEMENS 224 13.3.11 ELECTROLUX 225 13.3.12 LENNOX 226 13.3.13 SCHNEIDER ELECTRIC 227 13.3.14 FERROLI 227 13.3.15 BOSCH THERMOTECHNOLOGY 228 *Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies. 14 APPENDIX 229 14.1 DISCUSSION GUIDE 229 14.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 232 14.3 AVAILABLE CUSTOMIZATIONS 234 14.4 RELATED REPORTS 234 14.5 AUTHOR DETAILS 235
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