HVAC market

1
2022
Commercial Facilities Using HVAC Equipment to
Offer Comfort To Customers
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The construction sector of India, the U.S.,
Qatar, Saudi Arabia, and the U.A.E. is witnessing
significant growth due to the soaring number of
tourists and upcoming events, such as the FIFA
World Cup 2022 and Dubai Expo 2020. To
accommodate the rising number of tourists,
sportspersons, and officials from around the
world, these countries are focusing on the
construction of hotels, restaurants, shopping
complexes, airports, and skyscrapers at war
footing. These facilities require heating,
ventilation, and air conditioning (HVAC)
equipment to offer comfort to customers.   Moreove
r, the surging number of government initiatives
to replace old HVAC systems with energy-efficient
variants will aid the HVAC market in exhibiting a
CAGR of 4.8 during 20202030. The market was
valued at 240.8 billion in 2019, and it is
expected to generate 358.1 billion in 2030. For
instance, the Ministry of Power, under the
government of India, introduced the 'Eco-Niwas
Samhita 2018', an Energy Conservation Building
Code for Residential Buildings (ECBC-R), in
December 2018. The code aims to limit heat loss
and gain in residential and mixed-land-use
buildings built on a plot area of 500
m2.   Additionally, even customers are showing a
high preference for smart HVAC systems due to the
mounting awareness about energy conservation and
sustainable development. These solutions consist
of intelligent thermostats, better controls, and
advanced monitoring systems. In comparison to
conventional HVAC models, the smart variants
offer better temperature variability, produce
lower noise, and generate cleaner air.
Furthermore, these systems allow users to monitor
their performance in real-time, thus making
predictive maintenance possible, before any
actual malfunctioning occurs.  
3
Heating equipment, such as furnaces, unitary
heaters, boilers, and heat pumps, and air
conditioning equipment, such as chillers, room
ACs, ducted split/packaged units, and variable
refrigerant flow (VRF) systems, are being
installed in residential, commercial, and
industrial facilities across the world.
Additionally, end users are installing
humidifiers/dehumidifiers, ventilation fans, air
cleaners, and air handling and fan coil units for
ventilation purposes. In recent years, commercial
structures have emerged as the largest user of
such equipment due to the flourishing hospitality
sector and soaring number of buildings and
offices worldwide.   In recent years, HVAC
equipment and service companies have been
increasingly engaging in research and development
(RD) to offer more advanced HVAC systems. For
instance, in November 2019, Danfoss A/S
introduced six new refrigeration and AC
components and systems for India. The new product
portfolio includes Danfoss Intelligent Purging
System (IPS)/air purger, Danfoss plate heat
exchanger, Danfoss gas detector, ICSH 2-step
solenoid valve, IFCD defrost module, and EKE 400.
Likewise, in February 2020, Annexair Inc.
introduced an eco-friendly biocomposite-based
ventilation system constructed with recycled
plastic bottles.   Request to Get the Sample
Report https//www.psmarketresearch.com/market-an
alysis/hvac-market/report-sample   According to
PS Intelligence, Asia-Pacific (APAC) dominated
the HVAC market in the recent past, and it is
also expected to install HVAC systems at the
highest rate in the forthcoming years. This can
be attributed to the mounting number of
construction projects and the surging urban
population in the region. Moreover, the rapid
economic growth in APAC countries will fuel the
adoption of HVAC equipment in the upcoming years,
as will the escalating disposable income of
people in China and India.   Thus, the soaring
number of construction projects and rising
government support for energy-efficient
technologies will fuel the installation of HVAC
equipment in the upcoming years.  
4
This study covers Historical and the present size
of the HVAC market Future potential of the market
through its forecast for the period 2020
2030 Historical and the present size of the
market segments and understand their comparative
future potential Potential of on-demand logistics
services, so the market players make informed
decisions on the sales of their
offerings Competitive scenario of various market
segments across key countries in several regions
for uncovering market opportunities for the
stakeholders Major players operating in the
market and their service offerings
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