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Asia-Pacific’s HVAC Market 2014-2024 - The Growing Inclination Towards Smart HVAC Systems is Driving Market Growth - ResearchAndMarkets.com

May 15, 2019

DUBLIN--(BUSINESS WIRE)--May 15, 2019--

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)

KEYWORD: ASIA PACIFIC

INDUSTRY KEYWORD: BUILDING SYSTEMS CONSTRUCTION & PROPERTY

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 05/15/2019 09:59 AM/DISC: 05/15/2019 09:59 AM

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