DUBLIN–(BUSINESS WIRE)–The “Asia-Pacific
HVAC Market by HVAC Type, by End-User, by Country Market Size, Share,
Development, Growth and Demand Forecast, 2014-2024” report has
been added to ResearchAndMarkets.com’s offering.
The Asia-Pacific (APAC) HVAC market is projected to attain a size of
$70.7 billion by 2024, progressing at a CAGR of 4.3% during the forecast
period (2019-2024), according to this research.
This is mainly attributed to the growing construction sector in
countries such as China and India, which are witnessing huge investments
in the infrastructure sector, specifically for retail spaces, commercial
office buildings, manufacturing facilities, metro rail lines, and
expansion and construction of airports.
On the basis of heating type, the APAC HVAC market is divided into
boilers, heat pumps, furnaces, and unitary heaters. Among these, in the
historical period, the boilers division dominated the market, owing to
the increasing demand for boilers from the thermal power sector, mainly
from India, China, Indonesia, Japan, and Vietnam. In the forecast
period, a huge demand for electrical energy will arise from both China
and India. For instance, In India, it is estimated that in the fiscal
year 2021-2022, the requirement for electrical energy is predicted to
reach 191 TWh, with a peak demand of 298 GW.
Further, based on cooling type, the APAC HVAC market is categorized into
ducted split/packaged unit, variable refrigerant flow (VRF), chiller,
split unit, and room AC. Out of these, during the forecast period, the
VRF category is expected to grow the fastest, owing to the higher energy
efficiency of the equipment, coupled with the surging demand for green
buildings in the region. Additionally, the VRF category is projected to
offer ample opportunities to manufacturers in 2019-2024, as commercial
spaces, such as offices, malls, and hospitals, use these systems in
large numbers.
Coming to end-user, the APAC HVAC market is classified into industrial,
commercial, and residential. Among these, the commercial end-user
classification dominated the market with large-scale HVAC system
installation in the historical period (2014-2018); the category also
witnessed the highest CAGR during this period. Here, India witnessed the
highest CAGR in the commercial end-user classification. This is
attributed to the increasing number of commercial projects,
predominately related to buildings and commercial offices. For instance,
Marathon Futurex 2017, Urmi Estate 2014, Wave One Noida 2018, and Oberoi
Commerz II 2015 are some of the projects being executed in the country.
The APAC HVAC market presents with acute fragmentation, with competition
based on reputation, quality, price, energy efficiency, and technical
know-how. During 2014-2016, the oil crisis negatively impacted the
market. But, upcoming global events, such as Asian Games 2018 in Jakarta
and Palembang, PyeongChang 2018 Olympic Winter Games, and XXIV Olympic
Winter Games 2019 Beijing, and the resulting surge in tourism have
boosted the demand for HVAC systems in APAC.
Market Dynamics
Trends
- Adoption of energy efficient HVAC systems
- Inclination toward smart HVAC systems
Drivers
- Surging infrastructure spending in APAC
- Rising disposable income of population
Restraint
- High installation cost
Opportunities
- Growing popularity of geothermal HVAC
- Increasing deployment of VRF systems in high rise buildings
Key Topics Covered
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By HVAC Type
4.1.1.1 Heating
4.1.1.1.1 Furnaces
4.1.1.1.2 Heat Pumps
4.1.1.1.3 Boilers
4.1.1.1.4 Unitary Heaters
4.1.1.2 Ventilation
4.1.1.2.1 Humidifiers/Dehumidifiers
4.1.1.2.2 Air cleaners
4.1.1.2.3 Ventilation fans
4.1.1.2.4 Air handling units and fan coil units
4.1.1.3 Cooling
4.1.1.3.1 VRF
4.1.1.3.2 Ducted split/packaged unit
4.1.1.3.3 Split units
4.1.1.3.4 Chillers
4.1.1.3.5 Room ACs
4.1.2 By End-User
4.1.2.1 Commercial
4.1.2.1.1 Commercial Offices/Buildings
4.1.2.1.2 Supermarkets/Hypermarkets
4.1.2.1.3 Government
4.1.2.1.4 Healthcare
4.1.2.1.5 Hospitality
4.1.2.1.6 Transportation
4.1.2.1.7 Others
4.1.2.2 Industrial
4.1.2.2.1 Oil and Gas
4.1.2.2.2 Food and Beverage
4.1.2.2.3 Automotive
4.1.2.2.4 Energy and Utilities
4.1.2.2.5 Others
4.1.2.3 Residential
4.2 Value Chain Analysis
4.3 Market Dynamics
4.4 Porter’s Five Forces Analysis
Chapter 5. APAC Market Size and Forecast
5.1 By HVAC Type
5.1.1 Heating, by Equipment Type
5.1.2 Ventilation, by Equipment Type
5.1.3 Cooling, by Equipment Type
5.2 By End-User
5.2.1 Commercial, by Category
5.2.2 Industrial, by Category
5.2.3 By Residential
5.3 By Country
Chapter 6. China Market Size and Forecast
Chapter 7. Japan Market Size and Forecast
Chapter 8. India Market Size and Forecast
Chapter 9. South Korea Market Size and Forecast
Chapter 10. Rest of APAC Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 List of Key Players
11.2 Market Share Analysis of Key Players
11.3 Recent Activities of Key Players
11.4 Strategic Developments of Key Players
11.4.1 Mergers and Acquisitions
11.4.2 Partnerships
11.4.3 Product Launches
11.4.4 Facility Expansions
11.4.5 Client Wins
11.4.6 Other Developments
Chapter 12. Company Profiles
12.1 Johnson Controls International PLC
12.1.1 Business Overview
12.1.2 Product and Service Offerings
12.1.3 Key Financial Summary
12.1.4 SWOT Analysis
12.2 Ingersoll-Rand PLC
12.3 United Technologies Corporation
12.4 Daikin Industries Ltd.
12.5 Mitsubishi Electric Corporation
12.6 Toshiba Carrier Corporation
12.7 LG Electronics Inc.
12.8 Fujitsu Limited
12.9 Midea Group Co. Ltd.
12.10 Panasonic Corporation
12.11 Gree Electric Appliances, Inc. of Zhuhai
For more information about this report visit https://www.researchandmarkets.com/r/n93f4x
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Related
Topics: HVAC
(Heating, Ventilation, and Air Conditioning)
