Overview of the global unitary HVAC systems market
Technavio's research analysis on the global unitary HVAC systems market has identified the rising requirement for energy-efficient cooling and heating systems will be one of the major factors that will have a positive impact on the growth of the market. The rising focus on energy conservation has resulted in high demand for unitary HVAC systems around the world. Both residential and commercial end-users mainly use energy-efficient HVAC equipment to lower their energy costs. Moreover, these energy-efficient HVAC systems allow the end-users to reach the goals charted in Building plans. Also, the energy-efficient HVAC systems allow tracking and controlling of these systems as they are equipped with latest technologies and innovations in remote monitoring. This will lead to the growth of the energy-efficient HVAC equipment market. The need to achieve higher energy efficiency and the presence of newer technological advancements has raised sales of unitary HVAC systems among commercial and residential users during the forecast period. Our market research analysts predict that this market will grow at a CAGR of close to 7% by 2021.
The introduction of building automation systems (BAS) is one of the key trends that will contribute to the market growth in the forthcoming years. Building automation systems or BAS control and monitoring HVAC systems equipped in a building are fitted with computing and digital communication tools that enable them to improve the energy efficiency levels. BAS is gaining wide popularity as it can improve the interaction and operability between the HVAC, lighting, fire, and security control systems of a building.
Competitive landscape and key vendors
The unitary HVAC systems market consists of various vendors with international and regional presence. To improve their market presence, regional vendors are offering customized unitary HVAC systems at lesser prices than the international vendors. As the international vendors have well-established presence globally, the new players in this market will find it difficult to compete with the international vendors based on functionalities, features, quality, and services. Constant innovations and technological improvements will increase the competitive environment in this market during the forecast period.
The leading vendors in the market are ?
Trane (Ingersoll Rand)
The other prominent vendors in the market are AAON Heating and Cooling Products, AllStyle Coil, Bosch, Carrier, Electrolux, Friedrich Air Conditioning, FUJITSU, GREE ELECTRIC APPLIANCES, Haier, Lennox International, Magic Aire, Mestek, Midea Group, Mitsubishi Electric, Panasonic, and SAMSUNG.
Segmentation by product and analysis of the unitary HVAC systems market
Unitary air conditioners
During 2016, the unitary air conditioning system market segment accounted for the major shares of the unitary HVAC systems market. Factors such as the rise in the domestic and industrial buildings in the APAC region and rapid development of construction industry in the US will contribute to the growth of this market in the unitary air conditioning system market segment in the coming years.
Geographical segmentation and analysis of the unitary HVAC systems market
This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the unitary HVAC systems market throughout the forecast period. The rising demand for unitary HVAC systems from China, Japan and India, rise in infrastructure spending, and steady construction market will drive the demand for unitary HVAC systems in the region.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global unitary HVAC systems market?
What are the key market trends impacting the growth of the global unitary HVAC systems market?
What are the challenges to market growth?
Who are the key vendors in the global unitary HVAC systems market?
What are the market opportunities and threats faced by the vendors in the global unitary HVAC systems market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global unitary HVAC systems market?
Technavio also offers customization on reports based on specific client requirement.
This upcoming report on the global unitary HVAC systems market is an integral part of Technavio's heavy industry portfolio, under the fast-growing tools and components sector. Our collection of market research reports provides a comprehensive analysis of the heavy industry with special emphasis on sectors such as construction and unit operations. With the rapid adoption of modern HVAC control systems that assist facility managers to optimize, control and enhance operations, this market is expected to witness substantial growth over the next four years.
This industry report on the unitary HVAC systems covers vendors like Daikin, Trane, and Zamil to offer clients insights into the market's competitive landscape. Additionally, a thorough analysis of similar segments in the industry including test and measurement and engineering tools is also offered in this report. To accurately predict the growth prospects of this market, our analysts closely follow the growth trajectory of similar markets like the HVAC test instruments market, which is expected to post a CAGR of around 6% by 2021.
To help businesses with actionable insights into the market, this market research report offers an analysis of the market across different geographical regions like the Americas, APAC, and EMEA. Furthermore, it also segments the market based on the rooftop and split HVAC systems. Although the market is expected to witness significant growth, the high upfront costs of HVAC systems may restrict its growth during the predicted period.
Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.