NEW
YORK, June 20, 2024 /PRNewswire/ -- The global
industrial HVAC market size is estimated to grow by
USD 7.00 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 8.63% during the forecast
period. Increasing demand for energy-efficient
HVAC systems is driving market growth, with a trend
towards growing adoption of advance refrigerants in air
conditioners. However, frequent change in regulation
pertaining to industrial hvac poses a challenge. Key market
players include Alfa Laval AB, 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..
![Technavio has announced its latest market research report titled Global industrial HVAC market 2024-2028 Technavio has announced its latest market research report titled Global industrial HVAC market 2024-2028](https://mma.prnewswire.com/media/2442727/IRTNTR44019_bw2.jpg)
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
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)
|
Region
Covered
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
Key companies
profiled
|
Alfa Laval AB, 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.
|
Key Market Trends Fueling Growth
The Industrial HVAC market is shifting towards advanced,
eco-friendly refrigerants for energy-efficient systems. Traditional
refrigerants like CFCs, HCFCs, ammonia, and halons are being
replaced. New product launches, such as variable refrigerant flow
(VRF) systems, are driving demand due to their low global warming
potential. Key industries include air conditioning, room heating,
absorption refrigerators, and freezers. Chemicals, oil hydraulics,
defense, electronics, and power solutions are also significant
markets. Energy consumption, thermal comfort, and indoor air
quality are key considerations in the face of climatic
changes.
Research report provides comprehensive data on impact of trend.
For more details- Download a Sample Report
Market Challenges
- In the industrial HVAC market, manufacturers face challenges
adhering to regional regulations, focusing on carbon footprint
reduction and energy efficiency. Severe-duty equipment is required
for explosive environments. New regulations due to industrial
accidents intensify product development. Key components include
Commercial HVAC systems, Thermostats, Condenser fans, Compressors,
Evaporators, and Ventilation systems. Applications span from Data
centers to Hospitals, Retrofits, and New Construction. Operating
expenses depend on Heating Type, Cooling Equipment, and Ventilation
Type.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This industrial hvac market report extensively covers market
segmentation by
- End-user
- 1.1 Process industry
- 1.2 Discrete industry
- Type
- 2.1 HVAC equipment
- 2.2 HVAC services
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Process industry- The Industrial HVAC market
encompasses various implementation types, including new
construction and retrofit, in sectors such as process industries,
hospitals, shopping malls, restaurants, and commercial
construction. Energy efficiency and environmental sustainability
are key drivers, leading to the demand for energy-efficient cooling
systems like Room Air Conditioners, Unitary Air Conditioners,
Chillers, Coolers, Cooling Towers, and VRF systems. The market
caters to diverse industries, including chemicals, oil hydraulics,
defense, electronics, and consumer goods, with product lines
ranging from Air conditioning systems and Room-heating systems to
Absorption refrigerators, Air-processing units, Freezers, and
Fluorocarbons. New product launches continue to expand offerings,
addressing needs in industries like semiconductors, dry air
providers, and defense-related products. Natural gas, petroleum,
and chemicals, mineral resources, industrial infrastructure,
automotive and mobility, power solutions, and urban development
sectors are significant markets for cooling equipment, including
pumps, valves, lubrication units, and defense-related products.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The Industrial HVAC market encompasses the design, production,
and installation of energy-efficient heating, ventilation, and air
conditioning (HVAC) systems for industrial buildings. These systems
are essential for maintaining thermal comfort and optimal indoor
air quality in industrial settings. Industrial HVAC systems often
include climate control technologies, such as space cooling and
heating applications, to ensure a standard of living for workers
and prolong the lifespan of commercial infrastructure. The demand
for affordable housing units and commercial infrastructure
continues to drive product development in the industrial HVAC
market. Key components of industrial HVAC systems include
thermostats, dampers, condenser fans, compressors, and evaporators.
These systems are crucial for managing humidity levels and ensuring
the proper functioning of industrial processes. The mortality rate
associated with poor indoor air quality underscores the importance
of investing in reliable and efficient industrial HVAC systems.
Market Research Overview
The Industrial HVAC market encompasses heating, ventilation, and
air conditioning systems designed for industrial applications.
These systems are crucial for maintaining optimal indoor
environmental conditions in manufacturing facilities, warehouses,
and other industrial structures. HVAC systems in industrial
settings often require higher capacities and more robust designs
than those used in commercial or residential applications. Bulk
materials handling, heavy machinery operation, and large workforces
create unique challenges for HVAC systems in industrial
environments. Comfort and energy efficiency are essential
considerations, but industrial HVAC systems must also be able to
withstand harsh conditions and integrate with other industrial
systems. Progammable controllers and automation technologies are
increasingly important in industrial HVAC systems to optimize
performance and reduce energy consumption. The HVAC market for
industrial applications is expected to grow significantly due to
increasing demand for energy-efficient systems and the expansion of
industries in developing countries.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Process Industry
- Discrete Industry
- Type
-
- HVAC Equipment
- HVAC Services
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Infiniti Research, Inc.