Global HVAC System Market Research and Forecast 2018-2023

HVAC system comprises of all the heating, cooling and ventilation equipment that are used for maintaining desired temperature. The heat pumps, humidifiers, air conditioners, air purifiers play an integral part of the unit to minimize problem occurred due to air pollution and rising global temperature. The HVAC system is widely used in hospitals, commercial complexes, IT server rooms, factories and houses. The major driver of HVAC system market is the rapid urbanization leading to increase in demand of efficient cooling systems. The development of smart infrastructure also contributes in increasing demand of such system thereby shooting the market. The global climatic condition such as extreme temperatures have become usual across various part of the globe, to address such challenges HVAC system is best possible solution. The major restraining factor for this market is the adverse impact of using some refrigerants such as R22 on environment, the government has stringent regulations for the same. The high maintenance cost is yet another factor hindering the growth of market. The rise in disposable income and technological advancement in energy efficient heat pumps will create growth opportunities in coming years.

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The market is divided into North America, Europe, Asia Pacific and Rest of the World geographically. The APAC region is the fastest growing region in terms of infrastructure hence creating huge demand for HVAC systems, the countries such as Japan, China and India will lead the market in APAC region during the forecasted period. The government regulation to produce energy efficient and environmentally sustainable products is pushing the companies across the globe to produce much more evolved HVAC systems. North America region holds the major market share of HVAC system market because of the most advanced infrastructure and prevailing extreme temperature conditions in various parts of the region.

The HVAC system market is highly competitive due to the presence of large number of players offering similar products. The organization engaged in the market provides chillers, heat pumps, humidifiers, dehumidifier and air conditioners. The Key Players in the HVAC system are market AAON, Belimo Holding AG, Daikin, Danfoss drives, Electrolux, Emerson Electric Co., Gree electric appliances, Inc, Haier, Heinen & Hopman, Hitachi air conditioning, Honeywell International Inc, Ingersoll-Rand plc and so on.

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