Technavio has been monitoring the HVAC market and it is poised to grow by 68.80 bn during 2021-2025, progressing at a CAGR of almost 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global HVAC Market 2021-2025 (Graphic: Business Wire)
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a negative impact on the HVAC market.
Frequently Asked Questions:
- What are the major trends in the market?
Rising preference for condensing boilers is a major trend driving the growth of the market.
- At what rate is the market projected to grow?
The market will accelerate at a CAGR of almost 7% and the incremental growth of the market is anticipated to be 68.80 bn.
- Who are the top players in the market?
Carrier Global Corp., Daikin Industries Ltd., Danfoss AS, Haier Smart Home Co. Ltd., Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., Midea Group Co. Ltd., Samsung Electronics Co. Ltd., and Trane Technologies Plc, are some of the major market participants.
- What is the key market driver?
The growing construction sector is one of the major factors driving the market.
- How big is the APAC market?
The APAC region will contribute to 58% of the market share.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Carrier Global Corp., Daikin Industries Ltd., Danfoss AS, Haier Smart Home Co. Ltd., Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., Midea Group Co. Ltd., Samsung Electronics Co. Ltd., and Trane Technologies Plc are some of the major market participants. The growing construction sector will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this HVAC market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
HVAC Market 2021-2025: Segmentation
HVAC Market is segmented as below:
- HVAC Equipment
- HVAC Services
- North America
- South America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR46669
HVAC Market 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The HVAC market report covers the following areas:
- HVAC Market Size
- HVAC Market Trends
- HVAC Market Industry Analysis
This study identifies a rising preference for condensing boilers as one of the prime reasons driving the HVAC Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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HVAC Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist HVAC market growth during the next five years
- Estimation of the HVAC market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the HVAC market across APAC, North America, Europe, MEA, and South America
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of HVAC market vendors
Table of Contents:
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Non-residential Market size and forecast 2020-2025
- Residential Market size and forecast 2020-2025
- Market opportunity by End-user
Market Segmentation by Type
- Market segments
- Comparison by Type
- HVAC equipment Market size and forecast 2020-2025
- HVAC services Market size and forecast 2020-2025
- Market opportunity by Type
- Geographic segmentation
- Geographic comparison
- APAC Market size and forecast 2020-2025
- North America Market size and forecast 2020-2025
- Europe Market size and forecast 2020-2025
- MEA Market size and forecast 2020-2025
- South America Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers Demand led growth
- Market challenges
- Market trends
- Competitive scenario
- Vendor landscape
- Landscape disruption
- Industry risks
- Vendors covered
- Market positioning of vendors
- Carrier Global Corp.
- Daikin Industries Ltd.
- Danfoss AS
- Haier Smart Home Co. Ltd.
- Johnson Controls International Plc
- Lennox International Inc.
- LG Electronics Inc.
- Midea Group Co. Ltd.
- Samsung Electronics Co. Ltd.
- Trane Technologies Plc
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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