Newark, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The global HVAC system market is expected to grow from USD 214.02 billion in 2022 to USD 357.68 billion by 2032, at a CAGR of 5.72% during the forecast period 2023-2032.The trends driving market growth are rising urbanisation and the advent of energy-efficient HVAC systems. In addition, governments across the world are dedicated to encouraging the usage of energy-efficient HVAC systems by providing incentives and rebate programs. These programs and initiatives are also projected to fuel growth in the market over the forecast timeframe.
Request to Download Sample Research Report – https://www.thebrainyinsights.com/enquiry/sample-request/12572
Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 214. 02 Billion |
| Market Size in 2032 | USD 357.68 Billion |
| CAGR | 5.27% |
| No. of Pages in Report | 232 |
| Segments Covered | Product Type, Application, End-User and Distribution Channel |
| Drivers | Increasing use of HVAC in different applications |
| Opportunities | Initiatives are undertaken by government authorities to curb water pollution. |
| Restraints | High cost of instalment |
Procure Complete Research Report - https://www.thebrainyinsights.com/report/hvac-system-market-12572
Key Findings of HVAC System Market
The heat pump segment dominated and held the largest market share of around 49.95% in 2022.
The heating equipment segment is divided into heat pumps, furnaces, unitary heaters and boilers. The heat pumps segment emerged as the leader in the global HVAC system market in 2022 with a market share of around 49.95% due to its increased demand in the European region.
The dehumidifiers ventilation equipment segment is anticipated to grow at a CAGR of around 6.17% over the forecast period.
The ventilation equipment segment includes air-handling units, air filters, dehumidifiers, ventilation fans and humidifiers. The dehumidifiers ventilation equipment segment is anticipated to grow at the highest CAGR of around 6.17% over the forecast period. As natural gas usage increases, installation of smaller diameter pipelines is growing, contributing to increased sales of HVAC systems. Additionally, low-pressure and small-diameter pipes are used for transport networks composed of gathering systems. These factors are anticipated to showcase growth potential to HVAC system of dehumidifiers ventilation equipment range.
The liquid segment is anticipated to grow at the highest CAGR of around 5.79% over the forecast period
The cooling equipment segment includes liquid, gas and oil. The liquid segment is anticipated to grow at the highest CAGR of around 5.79% over the forecast periods population growth rises coupled with intense water stress, freshwater supplies are expected to be affected. Water infrastructure is also projected to grow more, and with growing water demand, the ageing water system is needed to be sustained. This factor is primarily responsible for the substantial portion of the HVAC System’s liquid segment.
The drinking water distribution segment is anticipated to expand at the highest CAGR of around 6.20% over the forecast period.
The application segment includes wastewater systems, drinking water distribution, gas solution and petroleum solution. The drinking water distribution segment is anticipated to expand at the highest CAGR of around 6.20% over the forecast period. This is because demand for the pipeline water and sewage water services in the U.S. community is continuously bouncing back. Majority of demand for pipes is due to the drinking systems repair and replacement market.
Interested to Procure the Research Report? Inquire Before Buying - https://www.thebrainyinsights.com/enquiry/buying-inquiry/12572
Regional Segmentation Analysis:
The regions evaluated for the HVAC System market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa.The involvement of significant real estate and tourism industries in the Europe region drives the Europe market. Owing to the well-established service industry and rising real estate business, commercial HVAC units dominate the North American and European markets. Implementation of strict government regulations, expanded construction activities and a stable industrial base are projected to boost the market growth.
Competitive Analysis:
Major players in the global HVAC systemmarket are Daikin, Electrolux, Emerson, Honeywell, Ingersoll Rand, Johnson Controls, Lennox, LG Electronics, Mitsubishi Electric, Nortek, Samsung Electronics and United Technologies, among others.
About the report:
The market is analyzed based on value (USD Billion) and volume (k units). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
Have Any Query? Ask Our Experts: https://www.thebrainyinsights.com/enquiry/speak-to-analyst/12572
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: www.thebrainyinsights.com
