Industrial HVAC Market by End-user, Type, and Geography - Forecast and Analysis 2023-2027

Published: Nov 2022 Pages: 175 SKU: IRTNTR44019

Industrial HVAC Market Forecast 2023-2027

The industrial HVAC market is estimated to decline at a CAGR of 6.5% between 2022 and 2027. The size of the market is forecast to increase by USD 4,714.13 million. The growth of the market depends on several factors, including increasing demand for energy-efficient HVAC systems, growing adoption of cleanrooms across industries, and stringent regulations for use of explosion-proof HVAC equipment in hazardous environments.

This report extensively covers market segmentation by end-user (process industry and discrete industry), type (HVAC equipment and HVAC services), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Industrial HVAC Market During the Forecast Period?

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Industrial HVAC Market: 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 Industrial Heating, Ventilation & Air Conditioning Market Driver

The increasing demand for energy-efficient HVAC systems is notably driving market growth. End-user industries are increasing their production volume to cater to the growing demand, which has augmented the need for energy-efficient equipment for different industrial processes. According to Technavio estimates, on average, almost 9% of the cost of production is spent on electricity in most industries. The increasing consumption of electricity in energy-intensive industries has propelled regulatory authorities to encourage the adoption of energy-efficient equipment.

Regulatory authorities across the world have implemented many stringent guidelines related to energy efficiency. According to the US Energy Information Administration (EIA) estimates, US residential consumers used about 3,802 terawatt-hours of electricity in 2020, of which 1.61 trillion kWh was consumed for heating, ventilation, air conditioning, and refrigeration (HVAC and R) applications, forming about 42% of the total energy consumption. These end-users persistently need to increase operational efficiency. This is encouraging process and discrete industries to shift from traditional HVAC systems to more energy-efficient ones.

In February 2022, Hitachi Air Conditioning India Ltd launched its range of energy-efficient and state-of-the-art air conditioning solutions for industrial and residential purposes. Thus, the growing demand for energy-efficient HVAC systems and the launch of new products by the vendors will drive the market in focus during the forecast period.

Key Industrial Heating, Ventilation & Air Conditioning Market Trend

Increasing the use of renewable energy sources for HVAC systems is the primary trend in the market. The shift toward renewable energy sources is also gaining traction in the market. Strict environmental regulations will pave the way for the adoption of renewable sources. In the industrial sector, development is still in its nascent stage. The adoption of renewable sources is expected to be experienced in changing the energy mix for industrial heating, especially in Europe. Solar space heating is a method of using solar energy to reduce energy consumption for heating purposes. A solar space heating system works in conjunction with the existing building heating system, such as the oil or gas-fired heater, or independently to provide heated air for indoor space heating.

The use of solar space heating systems can enable end-users to cut down on heating fuel costs considerably. This hybrid system can also provide large-scale, cost-effective reductions in greenhouse gas emissions. The cost benefits that hybrid systems offer, in conjunction with the strict environmental regulations, will mold the market toward renewable energy sources, significantly impacting the market.

Key Industrial Heating, Ventilation & Air Conditioning Market Challenge

Environmental pollution due to HVAC systems is the major challenge impeding market growth. Pollution, especially air pollution, is a growing concern for the government in countries such as the US, China, and India. Pollution-related problems are encouraging the government in these countries to launch various regulations to curb emissions. HVAC systems can cause air and noise pollution, which can have a negative impact on the environment. The use of HVAC systems is adding to the problem of air pollution as they release hazardous gases such as hydrochlorofluorocarbons and chlorofluorocarbons into the environment. These gases have a negative impact on the environment as they are greenhouse gases that trap heat and lead to the depletion of the earth's ozone layer.

Moreover, as global climate change is increasing the average global temperatures, the use of HVAC is also increasing, which is contributing to environmental pollution and climate change. HVAC systems consume a lot of electricity, which puts a strain on the power generation sector. It also leads to more pollution, as many countries use coal for electricity generation. In addition, electricity generators are used in many places that face fluctuations in the power supply or frequent power outages, which leads to the release of carbon monoxide and other hazardous gases into the atmosphere, thus resulting in air pollution. Hence, an increase in air pollution levels because of HVAC systems can hinder the growth of the market during the forecast period.

Key Industrial Heating, Ventilation & Air Conditioning Market Customer Landscape

The 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 Industrial HVAC Market Customer Landscape

Who are the Major Industrial HVAC Market Vendors?

Vendors 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.

Robert Bosch GmbH - The company offers industrial HVAC such as Solar thermal heating systems, Ventilation, and air conditioning systems, and Intrusion alarm systems. 

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

  • ALFA LAVAL
  • Carrier Global Corp.
  • Daikin Industries Ltd.
  • Emerson Electric Co.
  • Furukawa Electric Co. Ltd.
  • Hitachi Ltd.
  • Honeywell International Inc.
  • Ingersoll Rand Inc.
  • Johnson Controls International Plc
  • Lennox International Inc.
  • LG Electronics Inc.
  • MIDEA Group Co. Ltd.
  • Mitsubishi Electric Corp.
  • Panasonic Holdings Corp.
  • Samsung Electronics Co. Ltd.

Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Industrial HVAC Market?

The market share growth by the process industry segment will be significant during the forecast period. Process industries include oil and gas, power, pulp and paper, water and wastewater treatment, chemical and petrochemical, mining and metal, pharmaceutical, and food and beverages industries. The process industry segment holds a dominating share of the market. This is primarily because government regulations and rising energy costs are prompting these industries to reduce energy use in the manufacturing process. The growing awareness among end-users about energy efficiency and environmental sustainability has increased the demand for energy-efficient industrial HVAC systems in the process industry. 

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The process industry segment was valued at USD 5,958.56 million in 2017 and continue to grow by 2021. In industrial premises, the threat of explosion due to dust or chemical or vapor leaks during operations is constant. The oil and gas, chemical and petrochemical, and mining industries are categorized as highly explosive industrial environments. However, the increasing number of accidents in such process industries has augmented concerns about safety. Therefore, the demand for explosion-proof HVAC systems has increased significantly in this market segment. 

Which are the Key Regions for the Industrial HVAC Market?

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APAC is projected to contribute 49% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The industrial HVAC market in APAC is expected to grow significantly during the forecast period. Countries such as China, Japan, India, Vietnam, South Korea, Malaysia, and Australia will drive market growth. China, Japan, and India are the largest markets for industrial HVAC in APAC. This is primarily because of the growing population, improving per capita income of people, and rapid industrialization. The market is supported by the rise in demand for industrial HVAC from the food and beverage industry. The population is growing in various APAC countries. This population growth is leading to an increase in the consumption of various products, including food products. This will encourage manufacturers operating in the food and beverage industry to open new plants in this region. The economic growth in South Asia is attracting investments in several industries, including oil and gas, chemical, and petrochemical, which will drive the growth of the regional market during the forecast period. 

The market in the region witnessed certain challenges in 2020. The outbreak of COVID-19 affected many countries in the region, including China, India, South Korea, and Japan. However, from Q4 2021 onwards, many countries, including China, India, South Korea, and Japan, started conducting large-scale COVID-19 vaccination drives, and therefore, the restrictions on all sectors, including the industrial, were removed. This helped in the restoration of supply chains in the market in focus. Vendors in the market in APAC have also been focusing on expanding their operating base. Such expansions by the vendors in the region will drive growth in the market in focus during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by end-user (process industry and discrete industry), type (HVAC equipment and HVAC services), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

  • End-user Outlook (USD Million, 2017 - 2027)
    • Process industry
    • Discrete industry
  • Type Outlook (USD Million, 2017 - 2027)
    • HVAC equipment
    • HVAC services
  • Region Outlook (USD Million, 2017 - 2027)
    • APAC
      • China
      • India
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • North America
      • The U.S.
      • Canada
    • South America
      • Brazil
      • Argentina
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Industrial HVAC Market Scope

Report Coverage

Details

Page number

175

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Decelerate at a CAGR of 6.5%

Market growth 2023-2027

USD 4,714.13 million

Market structure

Fragmented

YoY growth (%)

7.4

Regional analysis

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

Performing market contribution

APAC at 49%

Key countries

US, China, Japan, Germany, and UK

Competitive landscape

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

Key companies profiled

ALFA LAVAL, Carrier Global Corp., Daikin Industries Ltd., Emerson Electric Co., Furukawa Electric Co. Ltd., Hitachi Ltd., Honeywell International Inc., Ingersoll Rand Inc., Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Shield Air Solutions Inc., Specific Systems LLC, Stryker Corp., and WHESCO Group Inc.

Market dynamics

Parent market analysis, 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 Industrial HVAC Market Report?

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

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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 End-user
    • 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 industrial HVAC market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global industrial HVAC market 2017 - 2021 ($ million)
    • 4.2 End-user Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – End-user 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 End-user

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

    7 Market Segmentation by Type

    • 7.1 Market segments
      • Exhibit 43: Chart on Type - Market share 2022-2027 (%)
      • Exhibit 44: Data Table on Type - Market share 2022-2027 (%)
    • 7.2 Comparison by Type
      • Exhibit 45: Chart on Comparison by Type
      • Exhibit 46: Data Table on Comparison by Type
    • 7.3 HVAC equipment - Market size and forecast 2022-2027
      • Exhibit 47: Chart on HVAC equipment - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Data Table on HVAC equipment - Market size and forecast 2022-2027 ($ million)
      • Exhibit 49: Chart on HVAC equipment - Year-over-year growth 2022-2027 (%)
      • Exhibit 50: Data Table on HVAC equipment - Year-over-year growth 2022-2027 (%)
    • 7.4 HVAC services - Market size and forecast 2022-2027
      • Exhibit 51: Chart on HVAC services - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Data Table on HVAC services - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Chart on HVAC services - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on HVAC services - Year-over-year growth 2022-2027 (%)
    • 7.5 Market opportunity by Type
      • Exhibit 55: Market opportunity by Type ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 57: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 59: Chart on Geographic comparison
      • Exhibit 60: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 61: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 62: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 63: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 64: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 North America - Market size and forecast 2022-2027
      • Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 73: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 75: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 China - Market size and forecast 2022-2027
      • Exhibit 81: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.9 US - Market size and forecast 2022-2027
      • Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.10 Germany - Market size and forecast 2022-2027
      • Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.11 UK - Market size and forecast 2022-2027
      • Exhibit 93: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.12 Japan - Market size and forecast 2022-2027
      • Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 101: 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 102: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 103: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 104: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 105: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 106: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 107: Matrix on vendor position and classification
            • 12.3 ALFA LAVAL
              • Exhibit 108: ALFA LAVAL - Overview
              • Exhibit 109: ALFA LAVAL - Business segments
              • Exhibit 110: ALFA LAVAL - Key offerings
              • Exhibit 111: ALFA LAVAL - Segment focus
            • 12.4 Carrier Global Corp.
              • Exhibit 112: Carrier Global Corp. - Overview
              • Exhibit 113: Carrier Global Corp. - Business segments
              • Exhibit 114: Carrier Global Corp. - Key news
              • Exhibit 115: Carrier Global Corp. - Key offerings
              • Exhibit 116: Carrier Global Corp. - Segment focus
            • 12.5 Daikin Industries Ltd.
              • Exhibit 117: Daikin Industries Ltd. - Overview
              • Exhibit 118: Daikin Industries Ltd. - Business segments
              • Exhibit 119: Daikin Industries Ltd. - Key news
              • Exhibit 120: Daikin Industries Ltd. - Key offerings
              • Exhibit 121: Daikin Industries Ltd. - Segment focus
            • 12.6 Emerson Electric Co.
              • Exhibit 122: Emerson Electric Co. - Overview
              • Exhibit 123: Emerson Electric Co. - Business segments
              • Exhibit 124: Emerson Electric Co. - Key offerings
              • Exhibit 125: Emerson Electric Co. - Segment focus
            • 12.7 Furukawa Electric Co. Ltd.
              • Exhibit 126: Furukawa Electric Co. Ltd. - Overview
              • Exhibit 127: Furukawa Electric Co. Ltd. - Product / Service
              • Exhibit 128: Furukawa Electric Co. Ltd. - Key offerings
            • 12.8 Hitachi Ltd.
              • Exhibit 129: Hitachi Ltd. - Overview
              • Exhibit 130: Hitachi Ltd. - Business segments
              • Exhibit 131: Hitachi Ltd. - Key news
              • Exhibit 132: Hitachi Ltd. - Key offerings
              • Exhibit 133: Hitachi Ltd. - Segment focus
            • 12.9 Honeywell International Inc.
              • Exhibit 134: Honeywell International Inc. - Overview
              • Exhibit 135: Honeywell International Inc. - Business segments
              • Exhibit 136: Honeywell International Inc. - Key news
              • Exhibit 137: Honeywell International Inc. - Key offerings
              • Exhibit 138: Honeywell International Inc. - Segment focus
            • 12.10 Ingersoll Rand Inc.
              • Exhibit 139: Ingersoll Rand Inc. - Overview
              • Exhibit 140: Ingersoll Rand Inc. - Business segments
              • Exhibit 141: Ingersoll Rand Inc. - Key offerings
              • Exhibit 142: Ingersoll Rand Inc. - Segment focus
            • 12.11 Johnson Controls International Plc
              • Exhibit 143: Johnson Controls International Plc - Overview
              • Exhibit 144: Johnson Controls International Plc - Business segments
              • Exhibit 145: Johnson Controls International Plc - Key news
              • Exhibit 146: Johnson Controls International Plc - Key offerings
              • Exhibit 147: Johnson Controls International Plc - Segment focus
            • 12.12 Lennox International Inc.
              • Exhibit 148: Lennox International Inc. - Overview
              • Exhibit 149: Lennox International Inc. - Business segments
              • Exhibit 150: Lennox International Inc. - Key offerings
              • Exhibit 151: Lennox International Inc. - Segment focus
            • 12.13 LG Electronics Inc.
              • Exhibit 152: LG Electronics Inc. - Overview
              • Exhibit 153: LG Electronics Inc. - Business segments
              • Exhibit 154: LG Electronics Inc. - Key news
              • Exhibit 155: LG Electronics Inc. - Key offerings
              • Exhibit 156: LG Electronics Inc. - Segment focus
            • 12.14 MIDEA Group Co. Ltd.
              • Exhibit 157: MIDEA Group Co. Ltd. - Overview
              • Exhibit 158: MIDEA Group Co. Ltd. - Business segments
              • Exhibit 159: MIDEA Group Co. Ltd. - Key offerings
              • Exhibit 160: MIDEA Group Co. Ltd. - Segment focus
            • 12.15 Mitsubishi Electric Corp.
              • Exhibit 161: Mitsubishi Electric Corp. - Overview
              • Exhibit 162: Mitsubishi Electric Corp. - Business segments
              • Exhibit 163: Mitsubishi Electric Corp. - Key news
              • Exhibit 164: Mitsubishi Electric Corp. - Key offerings
              • Exhibit 165: Mitsubishi Electric Corp. - Segment focus
            • 12.16 Panasonic Holdings Corp.
              • Exhibit 166: Panasonic Holdings Corp. - Overview
              • Exhibit 167: Panasonic Holdings Corp. - Business segments
              • Exhibit 168: Panasonic Holdings Corp. - Key news
              • Exhibit 169: Panasonic Holdings Corp. - Key offerings
              • Exhibit 170: Panasonic Holdings Corp. - Segment focus
            • 12.17 Robert Bosch GmbH
              • Exhibit 171: Robert Bosch GmbH - Overview
              • Exhibit 172: Robert Bosch GmbH - Business segments
              • Exhibit 173: Robert Bosch GmbH - Key news
              • Exhibit 174: Robert Bosch GmbH - Key offerings
              • Exhibit 175: Robert Bosch GmbH - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 176: Inclusions checklist
                • Exhibit 177: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 178: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 179: Research methodology
                • Exhibit 180: Validation techniques employed for market sizing
                • Exhibit 181: Information sources
              • 13.5 List of abbreviations
                • Exhibit 182: 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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