The global heating, ventilation and air conditioning (HVAC) systems market was valued at USD 9642.08 million in 2022 and will grow with a CAGR of 2.24% from 2022 to 2028, according to the recently released report by HNY Research.
The main objective of this report is to provide post-COVID-19 impact insights that will help market players in this field to evaluate their business approaches. Further, this report covers market segmentation by major markets, types, applications/end users, and geography (North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa , Oceania, South America).
Heating, ventilation and air conditioning (HVAC) services include installation, replacement, maintenance and repair services. HVAC systems are intended to provide comfortable air conditions in residential or commercial installations and to provide thermal balance. The basic function of HVAC equipment is to perform heating and cooling and air ventilation functions. Growing energy efficiency of HVAC systems will drive the growth prospects of the global HVAC air filters market till the end of 2022. One of the major factors responsible for large amount of greenhouse gas emissions ( GHG) in the world is the high percentage of electricity consumed by residential and commercial buildings. For example, in the United States, residential and commercial buildings consume approximately 70% of total electricity and generate 40% of greenhouse gas emissions. It has been observed that approximately one-third of the energy consumed by commercial buildings is used for ventilation and space heating or cooling applications of HVAC systems. As a result, the trend of reducing energy consumption is gaining momentum among end users. To reduce the energy consumption of a motor, the fan motor in HVAC systems must overcome resistance to provide the required airflow. This forces manufacturers to focus on developing air filters that provide less resistance to airflow.
Market Players and Competitor Analysis: The report covers major industry players including company profile, product specifications, production capacity/sales, revenue, price and gross margin 2016-2028 and sales with in-depth analysis of market competition landscape and detailed information. about the vendors and comprehensive details of the factors that will challenge the growth of the major vendors in the market.
Global and Regional Market Analysis: The report includes the global and regional market status and outlook 2016-2028. Additionally, the report provides details about each region and country covered in the report. Identify its sales, sales volume and revenue forecasts. With a detailed analysis by types and applications.
Market Trends: Key market trends including increased competition and continued innovations.
Opportunities and drivers: identifying growing demands and new technologies
Porters Five Forces Analysis: The report presents the state of competition in the industry based on five fundamental forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services and existing rivalry in the industry.