PUBLISHER: Market Research Future | PRODUCT CODE: 1540757
PUBLISHER: Market Research Future | PRODUCT CODE: 1540757
Global Commercial HVAC Market Research Report Information by Equipment (Cooling Equipment, Heating Equipment, Ventilation Equipment) by sales channel (OEM, Aftermaths), by components ( sensors, compressors, control systems, expansion valves, evaporator coils, ventilation fan and blower units, filters, dampers, tubing/piping systems, and others), by Application (office, school & colleges, restaurants, hotels, shops, apartment, hospitals & clinics, sport centers, data center/ server hub, warehouses, factories),- Forecast Till 2030
The Commercial HVAC Market is expected to develop at a compound annual growth rate (CAGR) of 7.4% over the projected period. The commercial HVAC (Heating, Ventilation, and Air Conditioning) market is projected to be influenced by governments around the world. Governments are increasingly recognizing the value of environmental sustainability and energy efficiency in commercial buildings.
The commercial HVAC business has expanded significantly on a global basis in recent years. The development of intelligent HVAC systems is a key area of technical innovation. These systems can regulate the temperature, monitor, humidity, and air quality in real time, increasing efficiency and lowering costs. Furthermore, remote control of these intelligent HAVCs is feasible via smartphones or other digital devices, providing a high level of flexibility and convenience. Furthermore, the market is being fueled by rising demand for technologically sophisticated heating, ventilation, and cooling systems. As environmental consciousness grows, so does the desire for green-labelled products, leading to the creation of thermally driven air conditioners. Furthermore, Daikin Industries Ltd. is doing research and development to produce sophisticated HVAC systems that use solar energy and natural gas, resulting in increased energy efficiency. Furthermore, the HVAC sector and IoT collaborate to enable remote machine control, which improves the customer-driven service program. HVAC technicians can track activity within a facility by adding motion sensors into these smart devices.
Market Segment insights
The Commercial HVAC Market is made up of three types of equipment: cooling, heating, and ventilation.
Sensors, compressors, control systems, expansion valves, evaporator coils, ventilation fan and blower units, filters, dampers, tubing/piping systems, and others make up the market, which is divided into components.
The Commercial HVAC Market is segmented into OEM and Aftermarket groups depending on sales channels.
Office, School & Colleges, Restaurants, Hotels, Shops, Apartment, Hospitals & Clinics, Sport Centers, Data Center/Server Hub, Warehouses, and Factories are the market's application-based segments.
Regional Perspectives
In 2022, the Asia-Pacific Commercial HVAC Market had the greatest market share and is expected to grow at a significant CAGR throughout the research period. The commercial HVAC market in APAC is rapidly expanding and developing, with important countries such as China, Japan, South Korea, India, and the rest of the region actively contributing to this change. Governments and businesses around APAC recognise the importance of sophisticated HVAC systems in enhancing commercial buildings' energy efficiency, environmental sustainability, and indoor comfort.
North America, which encompasses the United States, Canada, and Mexico, is known for its thriving commercial HVAC industry. Because of its emphasis on sustainable construction standards and technical innovation, the region's use of advanced commercial HVAC systems is rapidly increasing. Government and corporate sector expenditures aim to improve indoor air quality and energy efficiency in commercial areas, driving significant demand for these systems.
The market's major players include Panasonic, Mitsubishi Corporation, Samsung Electronics Co. Ltd., Daikin Industries Ltd., Haier Electronics Group Co. Ltd., Ingersoll Rand, Johnson Controls, AAON, Rheem Manufacturing Company, Lennox International Inc, Trane, GREE, Carrier, LG Electronics, and Midea Group.