Commercial HVAC Market by Application, Type, and Geography - Forecast and Analysis 2023-2027

Published: Mar 2023 Pages: 181 SKU: IRTNTR73213

Commercial HVAC Market Forecast 2023-2027

The Commercial HVAC Market size is estimated to grow by USD 24.63 million between 2022 and 2027 accelerating at a CAGR of 4.43%. The growth of the commercial heating, ventilation, and air conditioning (HVAC) market share depends on several factors, including the rising number of data centers, the growth of the construction market, and the rising need for regulatory compliance in HVAC equipment.

What will be the Commercial HVAC Market Size During the Forecast Period?

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Key Drivers, Trends, Challenges, and Customer Landscape

Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Drivers

The rising number of data centers is a prominent market driver. The demand for data centers and servers has increased due to the significant rise in data generation in various industries. As of January 2021, nearly 8,000 data centers were reported globally, with the US, UK, Germany, China, Canada, and the Netherlands having the most significant number. Data centers require HVAC systems to maintain consistent temperature, humidity, airflow, and cleanliness for critical equipment. Cooling systems account for a significant part of the overall costs of data center operations. Precision air conditioners have become necessary due to the increasing number of data centers.

The rise in internet penetration, IoT-connected devices, and smart devices has increased the demand for data centers. The establishment of data centers and the need to optimize their energy use will require efficient HVAC systems, leading to an increase in the demand for commercial heating, ventilation, and air conditioning (HVAC) market.

Significant Market Trends

Emerging smart and connected HVAC is a major market trend. The global market is experiencing a trend towards smart and connected HVAC systems. This is made possible by advances in portable devices and monitoring systems, which enable end-users to better manage their HVAC systems. Smart thermostats are a significant beneficiary of these advancements, with many companies offering models that are automatically installed with advanced firmware and algorithms, resulting in boosted energy efficiency and reduced installation costs.

IoT integration with HVAC systems has added to their capability, offering benefits such as real-time monitoring, predictive maintenance, and greater controllability. With companies increasingly offering new solutions, the use of the Internet of Things (IoT) market in HVAC systems will catalyze the growth of the commercial heating, ventilation, and air conditioning (HVAC) market.

Major Market Challenges

High market competition is a major market challenge. The global market is highly competitive with established international companies and regional players. Local companies in APAC offer HVAC systems at lower prices due to lower manufacturing costs. To combat competition, international companies are setting up local manufacturing units in key regional areas.

Regulations on HVACs in APAC are less restrictive, leading to sales of counterfeit products and further price-based competition. Consolidation activities in the market have intensified with the entry of building control solution providers. Competition has led to a reduction in market shares of individual companies and lower profit margins.

Key Market Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Commercial HVAC Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

MIDEA Group - The company offers V6 series HVAC which allow compressor to ramp up or down based on the needs within each space for cooling and heating.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

  • Carrier Global Corp.
  • Daikin Industries Ltd.
  • Danfoss AS
  • Emerson Electric Co.
  • Fujitsu Ltd.
  • Haier Smart Home Co. Ltd.
  • Honeywell International Inc.
  • Johnson Controls International Plc.
  • Lennox International Inc.
  • LG Electronics Inc.
  • Mitsubishi Electric Corp.
  • Nortek Inc.
  • Panasonic Holdings Corp.
  • Rheem Manufacturing Co.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

What are the Fastest-Growing Segments in the Market?

The market share growth by the equipment segment will be significant during the forecast period. HVAC equipment includes heating equipment, ventilation equipment, and air conditioning equipment. The rise in construction activities, particularly in the Middle East and Asia, will fuel the demand for HVAC systems.

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The equipment segment was valued at USD 61.90 million in 2017 and continued to grow until 2021. Builders of new modern commercial spaces are focusing on design and architectural aspects as well as sustainable practices, which has increased the adoption of energy-saving systems such as HVAC units and renewable power generation sources in commercial spaces. The rising demand for heat pumps due to environmental awareness is also driving the growth of the segment. Moreover, stringent government regulations regarding carbon emissions and air quality in the commercial and residential sectors are estimated to boost the growth of the segment during the forecast period.

Which are the Key Regions for the Market?

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APAC is estimated to contribute 34% to the growth of the global commercial heating, ventilation, and air conditioning (HVAC) market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The growth of the market in APAC is driven by an increase in infrastructure spending on commercial projects. The spending on the commercial real estate sector is increasing in many emerging economies such as India, China, Vietnam, and the Philippines, which is contributing to the commercial heating, ventilation, and air conditioning (HVAC) market in APAC. The rising number of smart city projects in Asia is also contributing to the growth of the real estate sector, which is fueling the demand in the region.

This market report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The market in the region witnessed certain challenges in 2020 due to lockdown restrictions. However, many countries conducted large-scale COVID-19 vaccination drives from 2021 onward. Therefore, restrictions on all sectors were removed, which led to the restoration of supply chains and a revival in demand for these systems during 2021-2022. These factors will drive the growth of the market in APAC during the forecast period.

Segment Overview

The market research report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027. 

  • Application Outlook (USD Million, 2017 - 2027)
    • Equipment 
    • Services 
  • Type Outlook (USD Million, 2017 - 2027)
    • Heat pump
    • Furnaces 
    • Boilers 
    • Unitary heaters
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America
      • Argentina
      • Brazil
      • Chile

Market Analyst Overview

The market encompasses a range of components including dampers, condenser fans, compressors, evaporators, and blowers. These components work together to regulate energy usage and maintain comfortable indoor temperatures. Additional components such as coolers and cooling towers help dissipate heat from the system. The market also includes advanced systems like VRF Systems (Variable Refrigerant Flow), which offer efficient cooling and heating solutions for commercial spaces. With a focus on energy efficiency and sustainability, the market continues to innovate to meet the needs of modern buildings and businesses.

Commercial HVAC Market Scope

Report Coverage

Details

Page number

181

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 4.43%

Market growth 2023-2027

USD 24.63 million

Market structure

Fragmented

YoY growth 2022-2023(%)

4.19

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 34%

Key countries

US, China, India, Japan, and UK

Competitive landscape

 Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks

Key companies profiled

Arkema Group, Carrier Global Corp., Daikin Industries Ltd., Danfoss AS, Emerson Electric Co., Fujitsu Ltd., Haier Smart Home Co. Ltd., Honeywell International Inc., Johnson Controls International Plc., Lennox International Inc., LG Electronics Inc., MIDEA Group, Mitsubishi Electric Corp., Nortek Inc., Panasonic Holdings Corp., Rheem Manufacturing Co., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Trane Technologies plc, and Zhuhai Gree Electric Appliances Co. Ltd.

Market dynamics

Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
  • Precise estimation of the size of the market size and its contribution to the parent market
  • Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
  • Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
  • Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
  • Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global commercial HVAC market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global commercial HVAC market 2017 - 2021 ($ million)
    • 4.2 Application Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)
    • 4.3 Type Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Application

    • 6.1 Market segments
      • Exhibit 30: Chart on Application - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Application - Market share 2022-2027 (%)
    • 6.2 Comparison by Application
      • Exhibit 32: Chart on Comparison by Application
      • Exhibit 33: Data Table on Comparison by Application
    • 6.3 Equipment - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Equipment - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Equipment - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Equipment - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Equipment - Year-over-year growth 2022-2027 (%)
    • 6.4 Services - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Services - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Services - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Services - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Services - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by Application
      • Exhibit 42: Market opportunity by Application ($ million)
      • Exhibit 43: Data Table on Market opportunity by Application ($ million)

    7 Market Segmentation by Type

    • 7.1 Market segments
      • Exhibit 44: Chart on Type - Market share 2022-2027 (%)
      • Exhibit 45: Data Table on Type - Market share 2022-2027 (%)
    • 7.2 Comparison by Type
      • Exhibit 46: Chart on Comparison by Type
      • Exhibit 47: Data Table on Comparison by Type
    • 7.3 Heat pump - Market size and forecast 2022-2027
      • Exhibit 48: Chart on Heat pump - Market size and forecast 2022-2027 ($ million)
      • Exhibit 49: Data Table on Heat pump - Market size and forecast 2022-2027 ($ million)
      • Exhibit 50: Chart on Heat pump - Year-over-year growth 2022-2027 (%)
      • Exhibit 51: Data Table on Heat pump - Year-over-year growth 2022-2027 (%)
    • 7.4 Furnaces - Market size and forecast 2022-2027
      • Exhibit 52: Chart on Furnaces - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Data Table on Furnaces - Market size and forecast 2022-2027 ($ million)
      • Exhibit 54: Chart on Furnaces - Year-over-year growth 2022-2027 (%)
      • Exhibit 55: Data Table on Furnaces - Year-over-year growth 2022-2027 (%)
    • 7.5 Boilers - Market size and forecast 2022-2027
      • Exhibit 56: Chart on Boilers - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Data Table on Boilers - Market size and forecast 2022-2027 ($ million)
      • Exhibit 58: Chart on Boilers - Year-over-year growth 2022-2027 (%)
      • Exhibit 59: Data Table on Boilers - Year-over-year growth 2022-2027 (%)
    • 7.6 Unitary heaters - Market size and forecast 2022-2027
      • Exhibit 60: Chart on Unitary heaters - Market size and forecast 2022-2027 ($ million)
      • Exhibit 61: Data Table on Unitary heaters - Market size and forecast 2022-2027 ($ million)
      • Exhibit 62: Chart on Unitary heaters - Year-over-year growth 2022-2027 (%)
      • Exhibit 63: Data Table on Unitary heaters - Year-over-year growth 2022-2027 (%)
    • 7.7 Market opportunity by Type
      • Exhibit 64: Market opportunity by Type ($ million)
      • Exhibit 65: Data Table on Market opportunity by Type ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 67: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 68: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 69: Chart on Geographic comparison
      • Exhibit 70: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 North America - Market size and forecast 2022-2027
      • Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.5 Europe - Market size and forecast 2022-2027
      • Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 China - Market size and forecast 2022-2027
      • Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.9 US - Market size and forecast 2022-2027
      • Exhibit 95: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 96: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.10 Japan - Market size and forecast 2022-2027
      • Exhibit 99: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 100: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 101: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 102: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.11 India - Market size and forecast 2022-2027
      • Exhibit 103: Chart on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 104: Data Table on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 105: Chart on India - Year-over-year growth 2022-2027 (%)
      • Exhibit 106: Data Table on India - Year-over-year growth 2022-2027 (%)
    • 9.12 UK - Market size and forecast 2022-2027
      • Exhibit 107: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 108: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 109: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 110: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 111: Market opportunity by geography ($ million)
      • Exhibit 112: Data Tables on Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 113: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 114: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 115: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 116: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 117: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 118: Matrix on vendor position and classification
            • 12.3 Arkema Group
              • Exhibit 119: Arkema Group - Overview
              • Exhibit 120: Arkema Group - Business segments
              • Exhibit 121: Arkema Group - Key news
              • Exhibit 122: Arkema Group - Key offerings
              • Exhibit 123: Arkema Group - Segment focus
            • 12.4 Carrier Global Corp.
              • Exhibit 124: Carrier Global Corp. - Overview
              • Exhibit 125: Carrier Global Corp. - Business segments
              • Exhibit 126: Carrier Global Corp. - Key news
              • Exhibit 127: Carrier Global Corp. - Key offerings
              • Exhibit 128: Carrier Global Corp. - Segment focus
            • 12.5 Daikin Industries Ltd.
              • Exhibit 129: Daikin Industries Ltd. - Overview
              • Exhibit 130: Daikin Industries Ltd. - Business segments
              • Exhibit 131: Daikin Industries Ltd. - Key news
              • Exhibit 132: Daikin Industries Ltd. - Key offerings
              • Exhibit 133: Daikin Industries Ltd. - Segment focus
            • 12.6 Danfoss AS
              • Exhibit 134: Danfoss AS - Overview
              • Exhibit 135: Danfoss AS - Business segments
              • Exhibit 136: Danfoss AS - Key news
              • Exhibit 137: Danfoss AS - Key offerings
              • Exhibit 138: Danfoss AS - Segment focus
            • 12.7 Emerson Electric Co.
              • Exhibit 139: Emerson Electric Co. - Overview
              • Exhibit 140: Emerson Electric Co. - Business segments
              • Exhibit 141: Emerson Electric Co. - Key news
              • Exhibit 142: Emerson Electric Co. - Key offerings
              • Exhibit 143: Emerson Electric Co. - Segment focus
            • 12.8 Fujitsu Ltd.
              • Exhibit 144: Fujitsu Ltd. - Overview
              • Exhibit 145: Fujitsu Ltd. - Business segments
              • Exhibit 146: Fujitsu Ltd. - Key news
              • Exhibit 147: Fujitsu Ltd. - Key offerings
              • Exhibit 148: Fujitsu Ltd. - Segment focus
            • 12.9 Haier Smart Home Co. Ltd.
              • Exhibit 149: Haier Smart Home Co. Ltd. - Overview
              • Exhibit 150: Haier Smart Home Co. Ltd. - Business segments
              • Exhibit 151: Haier Smart Home Co. Ltd. - Key offerings
              • Exhibit 152: Haier Smart Home Co. Ltd. - Segment focus
            • 12.10 Johnson Controls International Plc.
              • Exhibit 153: Johnson Controls International Plc. - Overview
              • Exhibit 154: Johnson Controls International Plc. - Business segments
              • Exhibit 155: Johnson Controls International Plc. - Key news
              • Exhibit 156: Johnson Controls International Plc. - Key offerings
              • Exhibit 157: Johnson Controls International Plc. - Segment focus
            • 12.11 Lennox International Inc.
              • Exhibit 158: Lennox International Inc. - Overview
              • Exhibit 159: Lennox International Inc. - Business segments
              • Exhibit 160: Lennox International Inc. - Key news
              • Exhibit 161: Lennox International Inc. - Key offerings
              • Exhibit 162: Lennox International Inc. - Segment focus
            • 12.12 LG Electronics Inc.
              • Exhibit 163: LG Electronics Inc. - Overview
              • Exhibit 164: LG Electronics Inc. - Product / Service
              • Exhibit 165: LG Electronics Inc. - Key offerings
            • 12.13 MIDEA Group
              • Exhibit 166: MIDEA Group - Overview
              • Exhibit 167: MIDEA Group - Business segments
              • Exhibit 168: MIDEA Group - Key offerings
              • Exhibit 169: MIDEA Group - Segment focus
            • 12.14 Panasonic Holdings Corp.
              • Exhibit 170: Panasonic Holdings Corp. - Overview
              • Exhibit 171: Panasonic Holdings Corp. - Business segments
              • Exhibit 172: Panasonic Holdings Corp. - Key news
              • Exhibit 173: Panasonic Holdings Corp. - Key offerings
              • Exhibit 174: Panasonic Holdings Corp. - Segment focus
            • 12.15 Robert Bosch GmbH
              • Exhibit 175: Robert Bosch GmbH - Overview
              • Exhibit 176: Robert Bosch GmbH - Business segments
              • Exhibit 177: Robert Bosch GmbH - Key news
              • Exhibit 178: Robert Bosch GmbH - Key offerings
              • Exhibit 179: Robert Bosch GmbH - Segment focus
            • 12.16 Samsung Electronics Co. Ltd.
              • Exhibit 180: Samsung Electronics Co. Ltd. - Overview
              • Exhibit 181: Samsung Electronics Co. Ltd. - Business segments
              • Exhibit 182: Samsung Electronics Co. Ltd. - Key news
              • Exhibit 183: Samsung Electronics Co. Ltd. - Key offerings
              • Exhibit 184: Samsung Electronics Co. Ltd. - Segment focus
            • 12.17 Trane Technologies plc
              • Exhibit 185: Trane Technologies plc - Overview
              • Exhibit 186: Trane Technologies plc - Business segments
              • Exhibit 187: Trane Technologies plc - Key offerings
              • Exhibit 188: Trane Technologies plc - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 189: Inclusions checklist
                • Exhibit 190: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 191: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 192: Research methodology
                • Exhibit 193: Validation techniques employed for market sizing
                • Exhibit 194: Information sources
              • 13.5 List of abbreviations
                • Exhibit 195: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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