2014-04-29 03:35:01 - Global HVAC Equipment Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global HVAC Equipment market is to grow at a CAGR of 5.88 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing number of construction activities. The market has also been witnessing the evolution of monitoring systems and intelligent technology. However, complying with government rules and regulations could pose a challenge to the growth of this market.
The Global HVAC Equipment market is adopting green technology and increasingly using renewable energy sources to create energy-efficient eco-friendly equipment. The governments of many countries such as Saudi Arabia, UAE, and the US are adopting green initiatives and promoting the use of renewable energy sources to promote clean energy. Moreover, the advent of hybrid systems
and non-polluting refrigerants has led to HVAC equipment vendors and end-users providing and adopting green technology. In addition, HVAC equipment vendors are developing innovative heating and cooling equipment compatible with eco-friendly refrigerants. Furthermore, companies are manufacturing HVAC systems to meet/exceed the guidelines set by the ENERGY STAR program and the EnergyGuide labels.
One of the major drivers is the increase in construction activities. The market has been witnessing an increase in the global sales of homes and new buildings. This increase in construction activities, which is directly correlated to the sales of HVAC equipment, is expected to drive the growth of the HVAC industry. The high HVAC product penetration and the increase in residential construction activities have led to the growth of the Residential HVAC Equipment segment.
The Global HVAC Equipment market is a capital-intensive market. Since the global economic downturn, HVAC market vendors are finding it increasingly difficult to invest heavily in R&D activities and marketing campaigns.
The key vendors dominating this space include Carrier Corp., Ingersoll Rand plc, Johnson Controls Inc., and Lennox International Inc. The other vendors mentioned in this report are Daikins Industries Ltd., Gree Electric Appliances Inc., Nortek Inc., Paloma Industries Inc., and Siemens AG.
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