Technavio has been monitoring the residential HVAC market and it is poised to grow by USD 16.97 billion during 2020-2024, progressing at a CAGR of almost 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Residential HVAC Market 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions-
- Based on segmentation by product, which is the leading segment in the market?
- The air conditioning system is expected to be the leading segment based on product in the global market during the forecast period.
- What are the major trends in the market?
- Increasing demand for energy-efficient HVAC systems is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of almost 5%, the incremental growth of the market is anticipated to be USD 16.97 billion.
- Who are the top players in the market?
- Carrier Global Corp., Daikin Industries Ltd., Danfoss AS, Haier Smart Home Co. Ltd., Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., Panasonic Corp., Samsung Electronics Co. Ltd., and Trane Technologies Plc are some of the major market participants.
- What are the key market drivers and challenges?
- Rising residential construction activity is one of the major factors driving the market. However, the increasing market competition will restrain market growth.
- How big is the APAC market?
- The APAC region will contribute 61% of market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Carrier Global Corp., Daikin Industries Ltd., Danfoss AS, Haier Smart Home Co. Ltd., Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., Panasonic Corp., Samsung Electronics Co. Ltd., and Trane Technologies Plc are some of the major market participants. The rising residential construction activity will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Residential HVAC Market 2020-2024: Segmentation
Residential HVAC Market is segmented as below:
- Air Conditioning System
- Heating System
- Ventilation System
- North America
- South America
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Residential HVAC Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The residential HVAC market report covers the following areas:
- Residential HVAC Market Size
- Residential HVAC Market Trends
- Residential HVAC Market Analysis
This study identifies increasing demand for energy-efficient HVAC systems as one of the prime reasons driving the residential HVAC market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Residential HVAC Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist residential HVAC market growth during the next five years
- Estimation of the residential HVAC market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the residential HVAC market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of residential HVAC market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Air conditioning system – Market size and forecast 2019-2024
- Heating system – Market size and forecast 2019-2024
- Ventilation system – Market size and forecast 2019-2024
- Market opportunity by Product
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Competitive scenario
- Vendor landscape
- Landscape disruption
- Industry risks
- Vendors covered
- Market positioning of vendors
- Carrier Global Corp.
- Daikin Industries Ltd.
- Danfoss AS
- Haier Smart Home Co. Ltd.
- Johnson Controls International Plc
- Lennox International Inc.
- LG Electronics Inc.
- Panasonic Corp.
- Samsung Electronics Co. Ltd.
- Trane Technologies Plc
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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