Albany, New York, USA (PRWEB) October 16, 2013
According to a new market report published by Transparency Market Research "HVAC Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2012 - 2018," the global HVAC equipment market is expected to exceed USD 139 billion by 2018, growing at a CAGR of 8.9% from 2012 to 2018.
Browse the full report with Complete TOC at http://www.transparencymarketresearch.com/hvac-equipment-market.html.
Factors such as changes in energy regulations, technological developments by manufacturers to meet these energy efficiency requirements, and growing demand across commercial sector, especially in Asia Pacific region, are some of the key growth drivers. However, the magnitude of impact of these factors on the market varies on a regional basis.
Asia Pacific in particular is experiencing high growth due to robust economic activities, resulting in increased urbanization and rise in consumer spending on luxury goods and services. In addition, growth across North America is showing signs of recovery, particularly in the residential sector. Growth in the non-residential sector, especially across the industrial segment, is slow due to dormancy in industrial activities. The commercial segment for HVAC equipments is growing at a healthy rate, with the tourism sector taking the lead. Commercial segment alone accounted for approximately 40% of market share in 2012.
Activities of industry participants highlight key challenges faced by them and concurrent growth strategies adopted. These players under the stress of market saturation and low profit margins in the developed markets of North America and Europe are now focusing on emerging economies of Asia Pacific and Latin America. Moreover, the binding effect of different environmental protocols/treaties is pushing the need to develop environment friendly equipments, which require heavy investment in research and development activities. This has poised capital challenges for new entrants to the market.
Analysis of the global HVAC equipment market based on different components identifies cooling units as a dominant segment. Control systems segment is expected to see CAGR of 6.9% for the period 2012 - 2018. This growth is supported by increased usage and demand of control devices from manufacturers. Manufacturers in order to meet changing consumer behavior are developing smart solutions which are then incorporated in new equipments, so as to make them more efficient and responsive to consumer requirements. This has dual impact as it not only generates demand for new equipments but also replacement demand for the obsolete and inefficient equipments.
The revenue analysis of the industry players identified Carrier as the leading player, followed by Daikin in 2012. However, Daikin with its recent acquisition of Goodman is expected to overtake Carrier as the global leader in the near future. The other important players are Haier, Samsung, LG, and Electrolux. Apart from these global players, considerable share of the market is held by different regional and small players. Collectively, they accounted for more than one third of the global market share in 2012.
Related Report :
Air Conditioning Systems Market : http://www.transparencymarketresearch.com/air-conditioning-systems-market.html
Global HVAC (Heating, Ventilation, and Air Conditioning) equipments market is driven by factors including stringent energy and environment regulations, growing urbanization and subsequent increase in construction spending, technological and product developments. The report includes analysis of the global HVAC equipments market for the period 2012 to 2018. It identifies various micro and macro economic factors affecting the market growth trends during the forecast period, and their impact on the overall market size. Acknowledging the robust development and growth of emerging economies in the Asia Pacific and Latin America, there has been a shift in global activities, which are now focused on these regions.
In efforts to provide an in-depth analysis of the global HVAC equipment market, the report adopts a multi-dimensional approach towards market estimates and forecast. The market under consideration is divided into sub-segments based on various parameters, so as to enable stakeholders across the supply chain take advantage of the strategic analyses included in the report.