New Construction, Recovering Economy Drive Growth in HVAC Equipment Market

The HVAC equipment market was estimated to be over $22 billion in 2013. The market is expected to show a steady growth throughout the forecast period.

The market is dominated by seven major market participants and a host of smaller companies. Major market participants include: United Technologies Corporation, Daikin AC (Americas), Inc., Ingersoll Rand, Inc., Johnson Controls, Inc., Lennox International, Inc., Rheem Manufacturing Company, and Nortek Incorporated.

The key factors driving growth in the market include recovery in new construction, recovering economy, pent-up demand, energy efficiency, cost saving and increasing concern regarding indoor air quality. The market for cooling equipment is led by the unitary segment with ducted split and rooftop units covering the major market share. Heating equipment is led by air-source heat pumps and gas furnace. Equipment that has the ability to provide both heating as well as cooling show strong growth.

The study captures the overall HVAC equipment market and also provides an overview of the various heating, ventilation and air conditioning equipment. The report covers the following segments:

  • Heating - Heat Pumps, Furnace, Boilers & others
  • Cooling- Window Air Conditioners, Portable Air Conditioners, Ducted Splits, Ductless Splits, Rooftop Unit, Packaged Terminal Air Conditioner (PTAC), Variable Refrigerant Flow (VRF), Chillers, Air Handling Unit (AHU), Fan Coil Unit (FCU) & Cooling Towers
  • Ventilation- Industrial/Commercial blowers and fans & humidifiers/dehumidifiers

Source: http://www.verifymarkets.com/

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