August 16, 2013—TechNavio, the market research platform of Infiniti Research Ltd., recently announced the publication of a new report, Global HVAC Equipment Market 2012-2016, which indicates that the global HVAC equipment market is currently headed in a more energy-efficient, environmentally friendly direction.
Commenting on the report, an analyst from TechNavio’s team said, “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 United States 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.”
According to the report, 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.
Further, the report states that 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 research and development (R&D) activities and marketing campaigns.
TechNavio recognizes the following companies as the key players in the global HVAC equipment market: Carrier Corp., Ingersoll-Rand plc, Johnson Controls Inc., and Lennox International Inc. The report also includes a discussion of the other vendors operating in this market, namely Daikin Industries Ltd., Paloma Industries Inc., Nortek Inc., Gree Electric Appliances Inc., and Siemens AG.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry, says TechNavio. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis analyzing the strengths, weaknesses, opportunities and threats facing the key vendors.
TechNavio publishes periodic market research reports on niche and emerging technologies.
