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Industrial HVAC Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 129
  • SKU: IRTNTR44019
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The industrial HVAC market share is expected to increase by USD 3.96 billion from 2020 to 2025, at a CAGR of 6.4%.

This industrial HVAC market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers industrial HVAC market segmentation by end-user (process industry and discrete industry) and geography (APAC, Europe, North America, South America, and MEA). The industrial HVAC market report also offers information on several market vendors, including Alfa Laval AB, Carrier Global Corp., Daikin Industries Ltd., Hitachi Ltd., Honeywell International Inc., Ingersoll Rand Inc., Johnson Controls International Plc, Mitsubishi Electric Corp., Robert Bosch GmbH, and Samsung Electronics Co. Ltd. among others.

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

Industrial HVAC Market Size

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Industrial HVAC Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increasing demand for energy-efficient HVAC systems is notably driving the industrial HVAC market growth, although factors such as the high market competition may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industrial HVAC industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Industrial HVAC Market Driver

The increasing demand for energy-efficient HVAC systems is notably driving the industrial HVAC 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. However, in energy-intensive industries such as oil and gas, food and beverages, and power, it is almost 40%. The increasing consumption of electricity in energy-intensive industries has propelled regulatory authorities to encourage the adoption of energy-efficient equipment. The heating, cooling, and ventilation costs for industrial users also represent a significant proportion of their overall operating costs. 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.

Key Industrial HVAC Market Trend

Increased focus on predictive maintenance is the key market trend driving the industrial HVAC market growth. The demand for Internet of Things (IoT)-enabled devices has increased drastically, primarily due to the need for data collection and analysis to solve complex industrial HVAC maintenance tasks. The IoT-enabled devices such as wireless acoustic transmitters and steam trap monitors are aiding in monitoring HVAC systems operations. End-users have shifted their focus toward predictive maintenance as it helps in reducing the overall downtime and increasing operational efficiency. The integration of IIoT in HVAC systems is particularly useful in industries that have large operational areas. In the oil and gas and chemicals and petrochemicals industries, using IIoT-enabled HVAC systems helps in monitoring the functionality of the system on a real-time basis and helps in controlling the HVAC equipment and performing actions such as alarm diagnostics.

Key Industrial HVAC Market Challenge

The major challenge impeding the industrial HVAC market growth is the high market competition. The presence of many regional and international players has intensified the competitive scenario in the global industrial HVAC market. This affects the pricing strategy, R&D investments, and brand image of established international players. One of the significant reasons for the high price competitiveness in APAC is the regulations that are not as restrictive as in developed economies. In addition, the sale of counterfeit products is also high, resulting in price wars among vendors. These factors have compelled vendors to lower the prices of their products as a strategy to increase their market shares. To tackle cost-related issues, global vendors need to opt for horizontal integration through mergers and acquisitions, thereby expanding their market share and tapping unexplored territories.

This industrial HVAC market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global industrial HVAC market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the industrial HVAC market during the forecast period.

Who are the Major Industrial HVAC Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Alfa Laval AB
  • Carrier Global Corp.
  • Daikin Industries Ltd.
  • Hitachi Ltd.
  • Honeywell International Inc.
  • Ingersoll Rand Inc.
  • Johnson Controls International Plc
  • Mitsubishi Electric Corp.
  • Robert Bosch GmbH
  • Samsung Electronics Co. Ltd.

 

This statistical study of the industrial HVAC market encompasses successful business strategies deployed by the key vendors. The industrial HVAC market is fragmented and the vendors are deploying growth strategies such as following standard specifications to make the installation of industrial HVAC systems easy to compete in the market.

Product Insights and News

  • Alfa Laval AB - The company offers HVAC solutions such as AlfaNova AlfaQ and others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The industrial HVAC market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Industrial HVAC Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the industrial HVAC market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Industrial HVAC Market?

Industrial HVAC Market Market segmentation by region

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54% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the industrial HVAC market in APAC. 

The growing population, improving per capita income of people, and rapid industrialization will facilitate the industrial HVAC market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the industrial HVAC market in APAC witnessed a significant decline in revenue due to the COVID-19 pandemic. The outbreak disrupted the economy of the region and the supply chain of industrial and commercial sectors. However, with the lifting of lockdown restrictions and large-scale COVID-19 vaccination drives, the sales of new industrial HVAC equipment are expected to improve during the forecast period.

What are the Revenue-generating End-user Segments in the Industrial HVAC Market?

Industrial HVAC Market Segmentation

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The industrial HVAC market share growth by the process industry segment will be significant during the forecast period. The process industry segment holds a dominating share in the global industrial HVAC market. 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.

This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial HVAC market size and actionable market insights on post COVID-19 impact on each segment.

 

Industrial HVAC Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 6.4%

Market growth 2021-2025

$ 3.96 billion

Market structure

Fragmented

YoY growth (%)

8.97

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 54%

Key consumer countries

China, US, Germany, UK, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Alfa Laval AB, Carrier Global Corp., Daikin Industries Ltd., Hitachi Ltd., Honeywell International Inc., Ingersoll Rand Inc., Johnson Controls International Plc, Mitsubishi Electric Corp., Robert Bosch GmbH, and Samsung Electronics Co. Ltd.

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, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Industrial HVAC Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive industrial HVAC market growth during the next five years
  • Precise estimation of the industrial HVAC market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industrial HVAC industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of industrial HVAC market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Industrial machinery

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 15: End-user - Market share 2020-2025 (%)
    • 5.2 Comparison by End-user
      • Exhibit 16: Comparison by End-user
    • 5.3 Process industry - Market size and forecast 2020-2025
      • Exhibit 17: Process industry - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Process industry - Year-over-year growth 2020-2025 (%)
    • 5.4 Discrete industry - Market size and forecast 2020-2025
      • Exhibit 19: Discrete industry - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Discrete industry - Year-over-year growth 2020-2025 (%)
    • 5.5 Market opportunity by End-user
      • Exhibit 21: Market opportunity by End-user

    6 Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 23: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 24: Geographic comparison
    • 7.3 APAC - Market size and forecast 2020-2025
      • Exhibit 25: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 26: APAC - Year-over-year growth 2020-2025 (%)
    • 7.4 Europe - Market size and forecast 2020-2025
      • Exhibit 27: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 28: Europe - Year-over-year growth 2020-2025 (%)
    • 7.5 North America - Market size and forecast 2020-2025
      • Exhibit 29: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: North America - Year-over-year growth 2020-2025 (%)
    • 7.6 South America - Market size and forecast 2020-2025
      • Exhibit 31: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: South America - Year-over-year growth 2020-2025 (%)
    • 7.7 MEA - Market size and forecast 2020-2025
      • Exhibit 33: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 35: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 36: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 38: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Overview
          • Exhibit 39: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 40: Landscape disruption
          • Exhibit 41: Industry risks

        10 Vendor Analysis

        • 10.1 Vendors covered
          • Exhibit 42: Vendors covered
        • 10.2 Market positioning of vendors
          • Exhibit 43: Market positioning of vendors
        • 10.3 Alfa Laval AB
          • 10.4 Carrier Global Corp.
            • Exhibit 49: Carrier Global Corp. - Overview
            • Exhibit 50: Carrier Global Corp. - Business segments
            • Exhibit 51: Carrier Global Corp. - Key News
            • Exhibit 52: Carrier Global Corp. - Key offerings
            • Exhibit 53: Carrier Global Corp. - Segment focus
          • 10.5 Daikin Industries Ltd.
            • Exhibit 54: Daikin Industries Ltd. - Overview
            • Exhibit 55: Daikin Industries Ltd. - Business segments
            • Exhibit 56: Daikin Industries Ltd. - Key offerings
            • Exhibit 57: Daikin Industries Ltd. - Segment focus
          • 10.6 Hitachi Ltd.
            • Exhibit 58: Hitachi Ltd. - Overview
            • Exhibit 59: Hitachi Ltd. - Business segments
            • Exhibit 60: Hitachi Ltd. - Key News
            • Exhibit 61: Hitachi Ltd. - Key offerings
            • Exhibit 62: Hitachi Ltd. - Segment focus
          • 10.7 Honeywell International Inc.
            • Exhibit 63: Honeywell International Inc. - Overview
            • Exhibit 64: Honeywell International Inc. - Business segments
            • Exhibit 65: Honeywell International Inc. - Key offerings
            • Exhibit 66: Honeywell International Inc. - Segment focus
          • 10.8 Ingersoll Rand Inc.
            • Exhibit 67: Ingersoll Rand Inc. - Overview
            • Exhibit 68: Ingersoll Rand Inc. - Business segments
            • Exhibit 69: Ingersoll Rand Inc. - Key offerings
            • Exhibit 70: Ingersoll Rand Inc. - Segment focus
          • 10.9 Johnson Controls International Plc
            • Exhibit 71: Johnson Controls International Plc - Overview
            • Exhibit 72: Johnson Controls International Plc - Business segments
            • Exhibit 73: Johnson Controls International Plc - Key News
            • Exhibit 74: Johnson Controls International Plc - Key offerings
            • Exhibit 75: Johnson Controls International Plc - Segment focus
          • 10.10 Mitsubishi Electric Corp.
            • Exhibit 76: Mitsubishi Electric Corp. - Overview
            • Exhibit 77: Mitsubishi Electric Corp. - Business segments
            • Exhibit 78: Mitsubishi Electric Corp. - Key offerings
            • Exhibit 79: Mitsubishi Electric Corp. - Segment focus
          • 10.11 Robert Bosch GmbH
            • Exhibit 80: Robert Bosch GmbH - Overview
            • Exhibit 81: Robert Bosch GmbH - Business segments
            • Exhibit 82: Robert Bosch GmbH - Key offerings
            • Exhibit 83: Robert Bosch GmbH - Segment focus
          • 10.12 Samsung Electronics Co. Ltd.
            • Exhibit 84: Samsung Electronics Co. Ltd. - Overview
            • Exhibit 85: Samsung Electronics Co. Ltd. - Business segments
            • Exhibit 86: Samsung Electronics Co. Ltd. - Key News
            • Exhibit 87: Samsung Electronics Co. Ltd. - Key offerings
            • Exhibit 88: Samsung Electronics Co. Ltd. - Segment focus

          11 Appendix

          • 11.1 Scope of the report
            • 11.2 Currency conversion rates for US$
              • Exhibit 89: Currency conversion rates for US$
            • 11.3 Research methodology
              • Exhibit 90: Research Methodology
              • Exhibit 91: Validation techniques employed for market sizing
              • Exhibit 92: Information sources
            • 11.4 List of abbreviations
              • Exhibit 93: 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.

            TechnavioINFORMATION 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
            Technavio

            TechnavioDATA 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
            Technavio

            TechnavioREPORT WRITING

            Qualitative

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

            Quantitative

            • Market size and forecast
            • Market segmentation
            • Geographical insights
            • Competitive landscape
            Interested in this report?
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            Industrial HVAC Market market growth will increase by $3.96 bn during 2021-2025.
            The industrial hvac market market is expected to grow at a CAGR of 6.4% during 2021-2025.
            Technavio has segmented the industrial hvac market market by end-user (process industry and discrete industry) and geography (APAC, Europe, North America, South America, and MEA).
            Alfa Laval AB, Carrier Global Corp., Daikin Industries Ltd., Hitachi Ltd., Honeywell International Inc., Ingersoll Rand Inc., Johnson Controls International Plc, Mitsubishi Electric Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd. are a few of the key vendors in the industrial hvac market market.
            APAC will register the highest growth rate of 54% among the other regions. Therefore, the industrial hvac market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
            The key factors driving the industrial hvac market market growth are:
            • Increasing demand for energy-efficient HVAC systems
            The industrial hvac market market vendors should focus on grabbing business opportunities from the process industry segment as it accounted for the largest market share in the base year.
            • 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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            • Detailed vendors report with competitive landscape
            • Covid-19 impact and recovery analysis
            • Data on revenue-generating market segments
            • Details on the market shares of various regions
            • Five-force market analysis

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