Global Heating, Ventilation & Air Conditioning (HVAC) Market: Analysis By Type (Equipment and Aftermarket & Services), By End User (Residential and Commercial), By Region (Asia Pacific, North America, Europe and ROW), Size and Trends with Impact of COVID-19 and Forecast up to 2027
The global heating, ventilation & air conditioning (HVAC) market was valued at US$156.44 billion in 2021, and is expected to be worth US$231.11 billion in 2027. Heating, Ventilation and Air Conditioning (HVAC), is a technological system, which is used to provide cooling ventilation and heating facilities to the building. Heating appliances like heater, furnace and heat pumps, are used to generate heat in buildings via central heating or local heating. Ventilation appliances are used to change or replace air in any building to regulate temperature. Air conditioning appliances are used in cooling of indoor air for thermal comfort.
The HVAC industry is gradually shifting the emphasis toward energy efficiency. Several OEMs are focusing on green initiatives in order to save money while reducing greenhouse emissions. As a result, there has been a shift in recent years toward eco-friendly HVAC units. This includes products that use less power and run on renewable energy sources, lowering energy costs. The heating, ventilation and air conditioning (HVAC) market is determined to grow at a CAGR of 6.72% over the forecasted period of 2022-2027.
Market Segmentation Analysis:
By Type: The report identifies two segments on the basis of type: Equipment and Aftermarket & Services. On the basis of end user, HVAC equipment market is classified into two types: Commercial and Residential. Residential HVAC equipment is further classified as ductless and unitary, while commercial HVAC equipment is classified as ductless, unitary, and applied. The residential segment is foreseen to be the fastest growing segment, growing at CAGR of around 9% during the forecasted period. An increase in multi-family and individual homeowners is opening up opportunities for the residential HVAC segment. Residential HVAC demand is expected to be more or less stagnant in developed parts of the world; however, demand from newer markets, particularly developing markets, is expected to be significantly higher. This is primarily ascribed to the growing population in emerging markets and market maturity in developed markets.
By Region: In the report, the global heating, ventilation and air conditioning (HVAC) market is divided into four regions: Asia Pacific, North America, Europe, and ROW. Asia Pacific dominated the HVAC market, accounting for more than 50% of revenue in 2021. Rapid urbanization, population growth, and rising consumer disposable income have all contributed to the region's phenomenal growth over the years. Recently, the commercial sector has expanded, creating opportunities for future regional growth.
North America was the second-largest consumer of HVAC systems, closely followed by Europe. The market for HVAC systems in the region has reached maturity; however, replacement sales due to aging infrastructure or retrofit projects are creating alternate revenue streams for OEMs in North America in addition to expansion into the services and maintenance category. Over the forecast period, the region is expected to grow at a CAGR of more than 7%.
Market Dynamics:
Growth Drivers: One of the key drivers of the market's expansion is the increasing adoption of sustainable building designs. Rising awareness amongst the population about the energy efficiency of HVAC equipment and aftermarket services are pushing the economies towards the adoption of sustainable building designs. The growth in green-labeled products due to increased environmental awareness has given rise to thermally driven air-conditioners. These air-conditioners utilize both natural gas as well as solar energy, thus ensuring energy efficiency. The additional benefits offered are low maintenance, independent control of pipes for heating and cooling purposes, and automatic adjustments to current requirements, along with improved lifetime cost and efficiency. Other significant growth factors of the market include, increasing population, increasing construction activities, growing smart thermostat market, intensifying annual mean temperature, and escalating e-commerce retail sales.
Challenges: However, some challenges are impeding the growth of the market such as increasing raw materials prices, growing government regulations, data infrastructure system security and retail consolidations. The fluctuation in the prices of copper and iron ore have been rising over the past few years and proved as a major concern for all the companies of the HVAC market. This rising fluctuation in the prices of iron ore and copper is restricted the availability of major raw materials (copper, iron and steel) which are used for manufacturing of HVAC. Therefore, fluctuations in the prices of raw materials is disrupting market revenues.
Trends: The market is projected to grow at a fast pace during the forecast period, due to emerging home automation market, surging demand for invertor air conditioner (AC) in China and technological advancements. In recent years, the use of geothermal cooling and heating equipment has increased, reducing reliance on fuel-based equipment. The customer preference for comfort is opening up new opportunities. To meet demand, OEMs are developing products that are not only energy-efficient but also incorporate cutting-edge technologies for improved connectivity. Today's buildings are 'green,' which has led to an increase in the installation of thermostats, sensors, and smart metres that can be controlled via smartphone or PC. HVAC systems with software are also trending and are expected to create opportunities over the forecast period. Technology is slowly infiltrating the HVAC market, opening up opportunities for long-term growth.
Impact Analysis of COVID-19 and Way Forward:
During initial stages, the pandemic had created an enormous economic downturn worldwide, which has been felt at every level of the heating, ventilation and air conditioning (HVAC) industry. The commercial sector was hit particularly hard in every part of the world; customer demand, operation and planning among HVAC manufacturers and distributors were changed. Many HVAC manufacturers also halted the production in the initial stages of the pandemic.
After mid 2020, the HVAC industry was more focused on sustainability, diversity, technological solutions and environmental stewardship. They were sophisticated about finance and practical about operations. New digital technologies like artificial intelligence (AI and IoT) supported the growth of the market and further technological advancements are expected to support the market growth during the post COVID period.?
Competitive Landscape:
The global heating, ventilation and air conditioning (HVAC) market is moderately concentrated. Market players have implemented sustainable growth techniques in the market. To strengthen their position in the market, some of the leading competitors are pursuing various growth methods such as mergers, acquisitions, collaborations, and agreements.
The key players in the global heating, ventilation and air conditioning (HVAC) market are:
The HVAC industry is gradually shifting the emphasis toward energy efficiency. Several OEMs are focusing on green initiatives in order to save money while reducing greenhouse emissions. As a result, there has been a shift in recent years toward eco-friendly HVAC units. This includes products that use less power and run on renewable energy sources, lowering energy costs. The heating, ventilation and air conditioning (HVAC) market is determined to grow at a CAGR of 6.72% over the forecasted period of 2022-2027.
Market Segmentation Analysis:
By Type: The report identifies two segments on the basis of type: Equipment and Aftermarket & Services. On the basis of end user, HVAC equipment market is classified into two types: Commercial and Residential. Residential HVAC equipment is further classified as ductless and unitary, while commercial HVAC equipment is classified as ductless, unitary, and applied. The residential segment is foreseen to be the fastest growing segment, growing at CAGR of around 9% during the forecasted period. An increase in multi-family and individual homeowners is opening up opportunities for the residential HVAC segment. Residential HVAC demand is expected to be more or less stagnant in developed parts of the world; however, demand from newer markets, particularly developing markets, is expected to be significantly higher. This is primarily ascribed to the growing population in emerging markets and market maturity in developed markets.
By Region: In the report, the global heating, ventilation and air conditioning (HVAC) market is divided into four regions: Asia Pacific, North America, Europe, and ROW. Asia Pacific dominated the HVAC market, accounting for more than 50% of revenue in 2021. Rapid urbanization, population growth, and rising consumer disposable income have all contributed to the region's phenomenal growth over the years. Recently, the commercial sector has expanded, creating opportunities for future regional growth.
North America was the second-largest consumer of HVAC systems, closely followed by Europe. The market for HVAC systems in the region has reached maturity; however, replacement sales due to aging infrastructure or retrofit projects are creating alternate revenue streams for OEMs in North America in addition to expansion into the services and maintenance category. Over the forecast period, the region is expected to grow at a CAGR of more than 7%.
Market Dynamics:
Growth Drivers: One of the key drivers of the market's expansion is the increasing adoption of sustainable building designs. Rising awareness amongst the population about the energy efficiency of HVAC equipment and aftermarket services are pushing the economies towards the adoption of sustainable building designs. The growth in green-labeled products due to increased environmental awareness has given rise to thermally driven air-conditioners. These air-conditioners utilize both natural gas as well as solar energy, thus ensuring energy efficiency. The additional benefits offered are low maintenance, independent control of pipes for heating and cooling purposes, and automatic adjustments to current requirements, along with improved lifetime cost and efficiency. Other significant growth factors of the market include, increasing population, increasing construction activities, growing smart thermostat market, intensifying annual mean temperature, and escalating e-commerce retail sales.
Challenges: However, some challenges are impeding the growth of the market such as increasing raw materials prices, growing government regulations, data infrastructure system security and retail consolidations. The fluctuation in the prices of copper and iron ore have been rising over the past few years and proved as a major concern for all the companies of the HVAC market. This rising fluctuation in the prices of iron ore and copper is restricted the availability of major raw materials (copper, iron and steel) which are used for manufacturing of HVAC. Therefore, fluctuations in the prices of raw materials is disrupting market revenues.
Trends: The market is projected to grow at a fast pace during the forecast period, due to emerging home automation market, surging demand for invertor air conditioner (AC) in China and technological advancements. In recent years, the use of geothermal cooling and heating equipment has increased, reducing reliance on fuel-based equipment. The customer preference for comfort is opening up new opportunities. To meet demand, OEMs are developing products that are not only energy-efficient but also incorporate cutting-edge technologies for improved connectivity. Today's buildings are 'green,' which has led to an increase in the installation of thermostats, sensors, and smart metres that can be controlled via smartphone or PC. HVAC systems with software are also trending and are expected to create opportunities over the forecast period. Technology is slowly infiltrating the HVAC market, opening up opportunities for long-term growth.
Impact Analysis of COVID-19 and Way Forward:
During initial stages, the pandemic had created an enormous economic downturn worldwide, which has been felt at every level of the heating, ventilation and air conditioning (HVAC) industry. The commercial sector was hit particularly hard in every part of the world; customer demand, operation and planning among HVAC manufacturers and distributors were changed. Many HVAC manufacturers also halted the production in the initial stages of the pandemic.
After mid 2020, the HVAC industry was more focused on sustainability, diversity, technological solutions and environmental stewardship. They were sophisticated about finance and practical about operations. New digital technologies like artificial intelligence (AI and IoT) supported the growth of the market and further technological advancements are expected to support the market growth during the post COVID period.?
Competitive Landscape:
The global heating, ventilation and air conditioning (HVAC) market is moderately concentrated. Market players have implemented sustainable growth techniques in the market. To strengthen their position in the market, some of the leading competitors are pursuing various growth methods such as mergers, acquisitions, collaborations, and agreements.
The key players in the global heating, ventilation and air conditioning (HVAC) market are:
- Daikin Industries
- Johnson Controls International Plc.
- Raytheon Technologies Corporation
- Trane Technologies Plc.
- Lennox International, Inc.
- Honeywell International Inc.
- Emerson Electric Co.
- Mitsubishi Electric Corporation
- Samsung Electronics
- Schneider Electric SE
- Nortek Inc.
- Danfoss AS
- Jackson Systems
1. EXECUTIVE SUMMARY
2. INTRODUCTION
2.1 Heating, Ventilation and Air Conditioning (HVAC): An Overview
2.1.1 Types of HVAC Appliances
2.1.2 Components of HVAC
2.2 HVAC Segmentation: An Overview
2.2.1 Heating, Ventilation and Air Conditioning (HVAC) Segmentation
3. GLOBAL MARKET ANALYSIS
3.1 Global Heating, Ventilation and Air Conditioning (HVAC) Market: An Analysis
3.1.1 Global HVAC Market: An Overview
3.1.2 Global HVAC Market by Value
3.1.3 Global HVAC Market by Type (Equipment and Aftermarket & Services)
3.1.4 Global HVAC Market by Region (Asia Pacific, North America, Europe, and rest of the World (ROW))
3.2 Global HVAC Market: Type Analysis
3.2.1 Global HVAC Market by Type: An Overview
3.2.2 Global HVAC Equipment Market by Value
3.2.3 Global HVAC Equipment Market by End User (Commercial and Residential)
3.2.4 Global HVAC Aftermarket & Services Market by Value
3.3 Global HVAC Equipment Market: End User Analysis
3.3.1 Global HVAC Equipment Market by End User: An Overview
3.3.2 Global Commercial HVAC Equipment Market by Value
3.3.3 Global Commercial HVAC Equipment Market by Product Type (Ductless, Applied and Ducted/Unitary)
3.3.4 Global Commercial HVAC Equipment Market by Product Type: An Overview
3.3.5 Global Commercial Ductless HVAC Equipment Market by Value
3.3.6 Global Commercial Applied HVAC Equipment Market by Value
3.3.7 Global Commercial Ducted/Unitary HVAC Equipment Market by Value
3.3.8 Global Residential HVAC Equipment Market by Value
3.3.9 Global Residential HVAC Equipment Market by Product Type (Ductless/Window and Ducted/Unitary)
3.3.10 Global Residential HVAC Equipment Market by Product Type: An Overview
3.3.11 Global Residential Ductless/Window HVAC Equipment Market by Value
3.3.12 Global Residential Ducted/Unitary HVAC Equipment Market by Value
4. REGIONAL MARKET ANALYSIS
4.1 Asia Pacific HVAC Market: An Analysis
4.1.1 Asia Pacific HVAC Market: An Overview
4.1.2 Asia Pacific HVAC Market by Value
4.1.3 Asia Pacific HVAC Market by Region (China, Japan, India, and Rest of the Asia Pacific)
4.1.4 China HVAC Market by Value
4.1.5 Japan HVAC Market by Value
4.1.6 India HVAC Market by Value
4.1.7 Rest of Asia Pacific HVAC Market by Value
4.2 North America HVAC Market: An Analysis
4.2.1 North America HVAC Market: An Overview
4.2.2 North America HVAC Market by Value
4.2.3 North America HVAC Market by Type (Equipment and Aftermarket & Services)
4.2.4 North America HVAC Market by Type: An Overview
4.2.5 North America HVAC Equipment Market by Value
4.2.6 North America HVAC Equipment Market by End User (Commercial and Residential)
4.2.7 North America Residential HVAC Equipment Market by Value
4.2.8 North America Commercial HVAC Equipment Market by Value
4.2.9 North America HVAC Aftermarket & Services Market by Value
4.2.10 North America HVAC Market by Region (The US, Canada, and Mexico)
4.2.11 The US HVAC Market by Value
4.2.12 The US HVAC Market by Type (Equipment and Aftermarket & Services)
4.2.13 The US HVAC Equipment Market by Value
4.2.14 The US HVAC Equipment Market by End User (Commercial and Residential)
4.2.15 The US Residential HVAC Equipment Market by Value
4.2.16 The US Commercial HVAC Equipment Market by Value
4.2.17 The US HVAC Aftermarket & Services Market by Value
4.2.18 Canada HVAC Market by Value
4.2.19 Mexico HVAC Market by Value
4.3 Europe HVAC Market: An Analysis
4.3.1 Europe HVAC Market: An Overview
4.3.2 Europe HVAC Market by Value
4.3.3 Europe HVAC Market by Region (Germany, UK, and Rest of the Europe)
4.3.4 Germany HVAC Market by Value
4.3.5 The UK HVAC Market by Value
4.3.6 Rest of Europe HVAC Market by Value
4.4 Rest of World HVAC Market: An Analysis
4.4.1 Rest of World HVAC Market: An Overview
4.4.2 Rest of World HVAC Market by Value
5. IMPACT OF COVID-19
5.1 Impact of COVID-19
5.1.1 Impact of COVID-19 on HVAC Market
5.1.2 Impact on AC Industry
5.1.3 Impact on Heating Industry
6. MARKET DYNAMICS
6.1 Growth Drivers
6.1.1 Growing Global Population
6.1.2 Increasing Construction Activities
6.1.3 Growing Smart Thermostat Market
6.1.4 Intensifying Annual Mean Temperature
6.1.5 Escalating E-Commerce Retail Sales
6.1.6 Adoption of Sustainable Building Designs
6.2 Challenges
6.2.1 Increasing Raw Materials Prices
6.2.2 Growing Government Regulations
6.2.3 Data Infrastructure System Security
6.2.4 Retail Consolidations
6.3 Market Trends
6.3.1 Emerging Home Automation Market
6.3.2 Surging Demand for Invertor Air Conditioner (AC)
6.3.3 Technological Advancements
7. COMPETITIVE LANDSCAPE
7.1 Global HVAC Equipment Players by Market Share
7.2 Global Residential Unitary HVAC Equipment Players by Market Share
7.3 Global Commercial Unitary HVAC Equipment Players by Market Share
7.4 Global Commercial Applied HVAC Equipment Players by Market Share
7.5 Global HVAC Aftermarket & Services Players by Market Share
7.6 North America HVAC Equipment Players by Market Share
8. COMPANY PROFILES
8.1 Honeywell International Inc.
8.1.1 Business Overview
8.1.2 Operating Segments
8.1.3 Business Strategy
8.2 Johnson Controls International PLC
8.2.1 Business Overview
8.2.2 Operating Segments
8.2.3 Business Strategy
8.3 Mitsubishi Electric Corporation
8.3.1 Business Overview
8.3.2 Operating Segments
8.3.3 Business Strategy
8.4 Schneider Electric SE
8.4.1 Business Overview
8.4.2 Operating Segments
8.4.3 Business Strategy
8.5 Emerson Electric Co.
8.5.1 Business Overview
8.5.2 Operating Segments
8.5.3 Business Strategy
8.6 Daikin Industries, Ltd.
8.6.1 Business Overview
8.6.2 Operating Segments
8.6.3 Business Strategy
8.7 Lennox International Inc.
8.7.1 Business Overview
8.7.2 Operating Segments
8.8 Trane Technologies Plc
8.8.1 Business Overview
8.8.2 Operating Segments
8.8.3 Business Strategy
8.9 Raytheon Technologies Corporation
8.9.1 Business Overview
8.9.2 Operating Segments
8.9.3 Business Strategy
8.10 Samsung Electronics Co., Ltd.
8.10.1 Business Overview
8.10.2 Operating Segments
8.10.3 Business Strategy
8.11 Nortek Inc.
8.11.1 Business Overview
8.11.2 Business Strategy
8.12 Danfoss AS
8.12.1 Business Overview
8.12.2 Business Strategy
8.13 Jackson Systems
8.13.1 Business Overview
2. INTRODUCTION
2.1 Heating, Ventilation and Air Conditioning (HVAC): An Overview
2.1.1 Types of HVAC Appliances
2.1.2 Components of HVAC
2.2 HVAC Segmentation: An Overview
2.2.1 Heating, Ventilation and Air Conditioning (HVAC) Segmentation
3. GLOBAL MARKET ANALYSIS
3.1 Global Heating, Ventilation and Air Conditioning (HVAC) Market: An Analysis
3.1.1 Global HVAC Market: An Overview
3.1.2 Global HVAC Market by Value
3.1.3 Global HVAC Market by Type (Equipment and Aftermarket & Services)
3.1.4 Global HVAC Market by Region (Asia Pacific, North America, Europe, and rest of the World (ROW))
3.2 Global HVAC Market: Type Analysis
3.2.1 Global HVAC Market by Type: An Overview
3.2.2 Global HVAC Equipment Market by Value
3.2.3 Global HVAC Equipment Market by End User (Commercial and Residential)
3.2.4 Global HVAC Aftermarket & Services Market by Value
3.3 Global HVAC Equipment Market: End User Analysis
3.3.1 Global HVAC Equipment Market by End User: An Overview
3.3.2 Global Commercial HVAC Equipment Market by Value
3.3.3 Global Commercial HVAC Equipment Market by Product Type (Ductless, Applied and Ducted/Unitary)
3.3.4 Global Commercial HVAC Equipment Market by Product Type: An Overview
3.3.5 Global Commercial Ductless HVAC Equipment Market by Value
3.3.6 Global Commercial Applied HVAC Equipment Market by Value
3.3.7 Global Commercial Ducted/Unitary HVAC Equipment Market by Value
3.3.8 Global Residential HVAC Equipment Market by Value
3.3.9 Global Residential HVAC Equipment Market by Product Type (Ductless/Window and Ducted/Unitary)
3.3.10 Global Residential HVAC Equipment Market by Product Type: An Overview
3.3.11 Global Residential Ductless/Window HVAC Equipment Market by Value
3.3.12 Global Residential Ducted/Unitary HVAC Equipment Market by Value
4. REGIONAL MARKET ANALYSIS
4.1 Asia Pacific HVAC Market: An Analysis
4.1.1 Asia Pacific HVAC Market: An Overview
4.1.2 Asia Pacific HVAC Market by Value
4.1.3 Asia Pacific HVAC Market by Region (China, Japan, India, and Rest of the Asia Pacific)
4.1.4 China HVAC Market by Value
4.1.5 Japan HVAC Market by Value
4.1.6 India HVAC Market by Value
4.1.7 Rest of Asia Pacific HVAC Market by Value
4.2 North America HVAC Market: An Analysis
4.2.1 North America HVAC Market: An Overview
4.2.2 North America HVAC Market by Value
4.2.3 North America HVAC Market by Type (Equipment and Aftermarket & Services)
4.2.4 North America HVAC Market by Type: An Overview
4.2.5 North America HVAC Equipment Market by Value
4.2.6 North America HVAC Equipment Market by End User (Commercial and Residential)
4.2.7 North America Residential HVAC Equipment Market by Value
4.2.8 North America Commercial HVAC Equipment Market by Value
4.2.9 North America HVAC Aftermarket & Services Market by Value
4.2.10 North America HVAC Market by Region (The US, Canada, and Mexico)
4.2.11 The US HVAC Market by Value
4.2.12 The US HVAC Market by Type (Equipment and Aftermarket & Services)
4.2.13 The US HVAC Equipment Market by Value
4.2.14 The US HVAC Equipment Market by End User (Commercial and Residential)
4.2.15 The US Residential HVAC Equipment Market by Value
4.2.16 The US Commercial HVAC Equipment Market by Value
4.2.17 The US HVAC Aftermarket & Services Market by Value
4.2.18 Canada HVAC Market by Value
4.2.19 Mexico HVAC Market by Value
4.3 Europe HVAC Market: An Analysis
4.3.1 Europe HVAC Market: An Overview
4.3.2 Europe HVAC Market by Value
4.3.3 Europe HVAC Market by Region (Germany, UK, and Rest of the Europe)
4.3.4 Germany HVAC Market by Value
4.3.5 The UK HVAC Market by Value
4.3.6 Rest of Europe HVAC Market by Value
4.4 Rest of World HVAC Market: An Analysis
4.4.1 Rest of World HVAC Market: An Overview
4.4.2 Rest of World HVAC Market by Value
5. IMPACT OF COVID-19
5.1 Impact of COVID-19
5.1.1 Impact of COVID-19 on HVAC Market
5.1.2 Impact on AC Industry
5.1.3 Impact on Heating Industry
6. MARKET DYNAMICS
6.1 Growth Drivers
6.1.1 Growing Global Population
6.1.2 Increasing Construction Activities
6.1.3 Growing Smart Thermostat Market
6.1.4 Intensifying Annual Mean Temperature
6.1.5 Escalating E-Commerce Retail Sales
6.1.6 Adoption of Sustainable Building Designs
6.2 Challenges
6.2.1 Increasing Raw Materials Prices
6.2.2 Growing Government Regulations
6.2.3 Data Infrastructure System Security
6.2.4 Retail Consolidations
6.3 Market Trends
6.3.1 Emerging Home Automation Market
6.3.2 Surging Demand for Invertor Air Conditioner (AC)
6.3.3 Technological Advancements
7. COMPETITIVE LANDSCAPE
7.1 Global HVAC Equipment Players by Market Share
7.2 Global Residential Unitary HVAC Equipment Players by Market Share
7.3 Global Commercial Unitary HVAC Equipment Players by Market Share
7.4 Global Commercial Applied HVAC Equipment Players by Market Share
7.5 Global HVAC Aftermarket & Services Players by Market Share
7.6 North America HVAC Equipment Players by Market Share
8. COMPANY PROFILES
8.1 Honeywell International Inc.
8.1.1 Business Overview
8.1.2 Operating Segments
8.1.3 Business Strategy
8.2 Johnson Controls International PLC
8.2.1 Business Overview
8.2.2 Operating Segments
8.2.3 Business Strategy
8.3 Mitsubishi Electric Corporation
8.3.1 Business Overview
8.3.2 Operating Segments
8.3.3 Business Strategy
8.4 Schneider Electric SE
8.4.1 Business Overview
8.4.2 Operating Segments
8.4.3 Business Strategy
8.5 Emerson Electric Co.
8.5.1 Business Overview
8.5.2 Operating Segments
8.5.3 Business Strategy
8.6 Daikin Industries, Ltd.
8.6.1 Business Overview
8.6.2 Operating Segments
8.6.3 Business Strategy
8.7 Lennox International Inc.
8.7.1 Business Overview
8.7.2 Operating Segments
8.8 Trane Technologies Plc
8.8.1 Business Overview
8.8.2 Operating Segments
8.8.3 Business Strategy
8.9 Raytheon Technologies Corporation
8.9.1 Business Overview
8.9.2 Operating Segments
8.9.3 Business Strategy
8.10 Samsung Electronics Co., Ltd.
8.10.1 Business Overview
8.10.2 Operating Segments
8.10.3 Business Strategy
8.11 Nortek Inc.
8.11.1 Business Overview
8.11.2 Business Strategy
8.12 Danfoss AS
8.12.1 Business Overview
8.12.2 Business Strategy
8.13 Jackson Systems
8.13.1 Business Overview
LIST OF FIGURES
Figure 1: Types of HVAC Appliances
Figure 2: Components of HVAC
Figure 3: Heating, Ventilation and Air Conditioning (HVAC) Segmentation
Figure 4: Global HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 5: Global HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 6: Global HVAC Market by Type; 2021 (Percentage, %)
Figure 7: Global HVAC Market by Region; 2021 (Percentage, %)
Figure 8: Global HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 9: Global HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 10: Global HVAC Equipment Market by End User; 2021 (Percentage, %)
Figure 11: Global HVAC Aftermarket & Services Market by Value; 2017-2021 (US$ Billion)
Figure 12: Global HVAC Aftermarket & Services Market by Value; 2022-2027 (US$ Billion)
Figure 13: Global Commercial HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 14: Global Commercial HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 15: Global Commercial HVAC Equipment Market by Product Type; 2021 (Percentage, %)
Figure 16: Global Commercial Ductless HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 17: Global Commercial Ductless HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 18: Global Commercial Applied HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 19: Global Commercial Applied HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 20: Global Commercial Ducted/Unitary HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 21: Global Commercial Ducted/Unitary HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 22: Global Residential HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 23: Global Residential HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 24: Global Residential HVAC Equipment Market by Product Type; 2021 (Percentage, %)
Figure 25: Global Residential Ductless/Window HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 26: Global Residential Ductless/Window HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 27: Global Residential Ducted/Unitary HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 28: Global Residential Ducted/Unitary HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 29: Asia Pacific HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 30: Asia Pacific HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 31: Asia Pacific HVAC Market by Region; 2021 (Percentage, %)
Figure 32: China HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 33: China HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 34: Japan HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 35: Japan HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 36: India HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 37: India HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 38: Rest of Asia Pacific HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 39: Rest of Asia Pacific HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 40: North America HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 41: North America HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 42: North America HVAC Market by Type; 2021 (Percentage, %)
Figure 43: North America HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 44: North America HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 45: North America HVAC Equipment Market by End User; 2021 (Percentage, %)
Figure 46: North America Residential HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 47: North America Residential HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 48: North America Commercial HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 49: North America Commercial HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 50: North America HVAC Aftermarket & Services Market by Value; 2017-2021 (US$ Billion)
Figure 51: North America HVAC Aftermarket & Services Market by Value; 2022-2027 (US$ Billion)
Figure 52: North America HVAC Market by Region; 2021 (Percentage, %)
Figure 53: The US HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 54: The US HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 55: The US HVAC Market by Type; 2021 (Percentage, %)
Figure 56: The US HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 57: The US HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 58: The US HVAC Equipment Market by End User; 2021 (Percentage, %)
Figure 59: The US Residential HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 60: The US Residential HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 61: The US Commercial HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 62: The US Commercial HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 63: The US HVAC Aftermarket & Services Market by Value; 2017-2021 (US$ Billion)
Figure 64: The US HVAC Aftermarket & Services Market by Value; 2022-2027 (US$ Billion)
Figure 65: Canada HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 66: Canada HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 67: Mexico HVAC Market by Value; 2017-2021 (US$ Million)
Figure 68: Mexico HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 69: Europe HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 70: Europe HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 71: Europe HVAC Market by Region; 2021 (Percentage, %)
Figure 72: Germany HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 73: Germany HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 74: The UK HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 75: The UK HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 76: Rest of Europe HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 77: Rest of Europe HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 78: Rest of World HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 79: Rest of World HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 80: Global AC Market Growth Rate, 2019 & 2020 (Percentage, %)
Figure 81: Global Population; 2016-2021 (Billion)
Figure 82: Global Construction Expenditure; 2016-2020 (US$ Trillion)
Figure 83: Global Smart Thermostat Market by Volume; 2016-2020 (Million)
Figure 84: Global E-Commerce Retail Sales; 2019-2025 (US$ Trillion)
Figure 85: Global Average Copper Prices; 2017-2021 (US$ per Metric Ton)
Figure 86: Global Average Iron Ore Prices; 2017-2021 (US$ per Dry Metric Ton)
Figure 87: Global Smart Home Market; 2019-2025 (US$ Billion)
Figure 88: China Air Conditioner (AC) Market; 2016-2020 (Percentage, %)
Figure 89: Global HVAC Equipment Players by Market Share; 2021 (Percentage, %)
Figure 90: Global Residential Unitary HVAC Equipment Players by Market Share; 2021 (Percentage, %)
Figure 91: Global Commercial Unitary HVAC Equipment Players by Market Share; 2021 (Percentage, %)
Figure 92: Global Commercial Applied HVAC Equipment Players by Market Share; 2021 (Percentage, %)
Figure 93: Global HVAC Aftermarket & Services Players by Market Share; 2021 (Percentage, %)
Figure 94: North America HVAC Equipment Players by Market Share; 2021 (Percentage, %)
Figure 95: Honeywell International Inc. Net Sales by Segment; 2021 (Percentage, %)
Figure 96: Johnson Controls International PLC Net Sales by Segment; 2021 (Percentage, %)
Figure 97: Mitsubishi Electric Corporation Revenue by Business Segments; 2021 (Percentage, %)
Figure 98: Schneider Electric SE Revenue by Segment; 2021 (Percentage, %)
Figure 99: Emerson Electric Co. Net Sales by Segment; 2021 (Percentage, %)
Figure 100: Daikin Industries Net Sales by Segment; 2021 (Percentage, %)
Figure 101: Lennox International Net Sales by Segments; 2021 (Percentage, %)
Figure 102: Trane Technologies Net Revenues by Segments; 2021 (Percentage, %)
Figure 103: Raytheon Technologies Corporation Net Sales by Segments; 2021 (Percentage, %)
Figure 104: Samsung Electronics Co., Ltd. Net Revenue by Segments; 2021 (Percentage, %)
Table 1: Global Annual Mean Temperatures (2016-2020)
Figure 1: Types of HVAC Appliances
Figure 2: Components of HVAC
Figure 3: Heating, Ventilation and Air Conditioning (HVAC) Segmentation
Figure 4: Global HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 5: Global HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 6: Global HVAC Market by Type; 2021 (Percentage, %)
Figure 7: Global HVAC Market by Region; 2021 (Percentage, %)
Figure 8: Global HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 9: Global HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 10: Global HVAC Equipment Market by End User; 2021 (Percentage, %)
Figure 11: Global HVAC Aftermarket & Services Market by Value; 2017-2021 (US$ Billion)
Figure 12: Global HVAC Aftermarket & Services Market by Value; 2022-2027 (US$ Billion)
Figure 13: Global Commercial HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 14: Global Commercial HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 15: Global Commercial HVAC Equipment Market by Product Type; 2021 (Percentage, %)
Figure 16: Global Commercial Ductless HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 17: Global Commercial Ductless HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 18: Global Commercial Applied HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 19: Global Commercial Applied HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 20: Global Commercial Ducted/Unitary HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 21: Global Commercial Ducted/Unitary HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 22: Global Residential HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 23: Global Residential HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 24: Global Residential HVAC Equipment Market by Product Type; 2021 (Percentage, %)
Figure 25: Global Residential Ductless/Window HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 26: Global Residential Ductless/Window HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 27: Global Residential Ducted/Unitary HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 28: Global Residential Ducted/Unitary HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 29: Asia Pacific HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 30: Asia Pacific HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 31: Asia Pacific HVAC Market by Region; 2021 (Percentage, %)
Figure 32: China HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 33: China HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 34: Japan HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 35: Japan HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 36: India HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 37: India HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 38: Rest of Asia Pacific HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 39: Rest of Asia Pacific HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 40: North America HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 41: North America HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 42: North America HVAC Market by Type; 2021 (Percentage, %)
Figure 43: North America HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 44: North America HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 45: North America HVAC Equipment Market by End User; 2021 (Percentage, %)
Figure 46: North America Residential HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 47: North America Residential HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 48: North America Commercial HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 49: North America Commercial HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 50: North America HVAC Aftermarket & Services Market by Value; 2017-2021 (US$ Billion)
Figure 51: North America HVAC Aftermarket & Services Market by Value; 2022-2027 (US$ Billion)
Figure 52: North America HVAC Market by Region; 2021 (Percentage, %)
Figure 53: The US HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 54: The US HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 55: The US HVAC Market by Type; 2021 (Percentage, %)
Figure 56: The US HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 57: The US HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 58: The US HVAC Equipment Market by End User; 2021 (Percentage, %)
Figure 59: The US Residential HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 60: The US Residential HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 61: The US Commercial HVAC Equipment Market by Value; 2017-2021 (US$ Billion)
Figure 62: The US Commercial HVAC Equipment Market by Value; 2022-2027 (US$ Billion)
Figure 63: The US HVAC Aftermarket & Services Market by Value; 2017-2021 (US$ Billion)
Figure 64: The US HVAC Aftermarket & Services Market by Value; 2022-2027 (US$ Billion)
Figure 65: Canada HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 66: Canada HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 67: Mexico HVAC Market by Value; 2017-2021 (US$ Million)
Figure 68: Mexico HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 69: Europe HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 70: Europe HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 71: Europe HVAC Market by Region; 2021 (Percentage, %)
Figure 72: Germany HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 73: Germany HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 74: The UK HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 75: The UK HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 76: Rest of Europe HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 77: Rest of Europe HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 78: Rest of World HVAC Market by Value; 2017-2021 (US$ Billion)
Figure 79: Rest of World HVAC Market by Value; 2022-2027 (US$ Billion)
Figure 80: Global AC Market Growth Rate, 2019 & 2020 (Percentage, %)
Figure 81: Global Population; 2016-2021 (Billion)
Figure 82: Global Construction Expenditure; 2016-2020 (US$ Trillion)
Figure 83: Global Smart Thermostat Market by Volume; 2016-2020 (Million)
Figure 84: Global E-Commerce Retail Sales; 2019-2025 (US$ Trillion)
Figure 85: Global Average Copper Prices; 2017-2021 (US$ per Metric Ton)
Figure 86: Global Average Iron Ore Prices; 2017-2021 (US$ per Dry Metric Ton)
Figure 87: Global Smart Home Market; 2019-2025 (US$ Billion)
Figure 88: China Air Conditioner (AC) Market; 2016-2020 (Percentage, %)
Figure 89: Global HVAC Equipment Players by Market Share; 2021 (Percentage, %)
Figure 90: Global Residential Unitary HVAC Equipment Players by Market Share; 2021 (Percentage, %)
Figure 91: Global Commercial Unitary HVAC Equipment Players by Market Share; 2021 (Percentage, %)
Figure 92: Global Commercial Applied HVAC Equipment Players by Market Share; 2021 (Percentage, %)
Figure 93: Global HVAC Aftermarket & Services Players by Market Share; 2021 (Percentage, %)
Figure 94: North America HVAC Equipment Players by Market Share; 2021 (Percentage, %)
Figure 95: Honeywell International Inc. Net Sales by Segment; 2021 (Percentage, %)
Figure 96: Johnson Controls International PLC Net Sales by Segment; 2021 (Percentage, %)
Figure 97: Mitsubishi Electric Corporation Revenue by Business Segments; 2021 (Percentage, %)
Figure 98: Schneider Electric SE Revenue by Segment; 2021 (Percentage, %)
Figure 99: Emerson Electric Co. Net Sales by Segment; 2021 (Percentage, %)
Figure 100: Daikin Industries Net Sales by Segment; 2021 (Percentage, %)
Figure 101: Lennox International Net Sales by Segments; 2021 (Percentage, %)
Figure 102: Trane Technologies Net Revenues by Segments; 2021 (Percentage, %)
Figure 103: Raytheon Technologies Corporation Net Sales by Segments; 2021 (Percentage, %)
Figure 104: Samsung Electronics Co., Ltd. Net Revenue by Segments; 2021 (Percentage, %)
Table 1: Global Annual Mean Temperatures (2016-2020)