Global demand for HVAC equipment is projected to rise 6.1 percent per year through 2016 to $107 billion. North America will achieve the fastest gains, boosted primarily by an expected US recovery in construction. The Asia/Pacific region will post the second fastest growth rate, led by India and Indonesia. Heat pumps will remain the fastest growing type.

This study analyzes the $79.6 billion world HVAC equipment industry. It presents historical demand data for the years 2001, 2006 and 2011, and forecasts for 2016 and 2021 by product (e.g., room air conditioners, unitary air conditioners, heat pumps, boilers, warm air furnaces), world region and for 18 major countries.

The study also considers market environment factors, details industry structure, evaluates company market share and profiles 34 industry participants, including Daikin Industries, Gree Electric Appliances and United Technologies (UTC).

				    TABLE OF CONTENTS

     SECTION									    PAGE

		INTRODUCTION							      xi

	I.	EXECUTIVE SUMMARY						       1

	II.	MARKET ENVIRONMENT						       4
		General								       4
		World Economic Overview						       5
		   Recent Historical Trends					       5
		   World Economic Outlook					       7
		Fixed Investment Trends						      11
		Personal Income Trends						      13
		World Demographic Overview					      15
		   Population							      16
		   Households							      17
		   World Urbanization Patterns					      19
		Building Construction Expenditures				      20
		   Residential Construction Expenditures			      22
		   Nonresidential Construction Expenditures			      24
		Climatic & Cultural Factors					      26
		Pricing Patterns						      27
		Legal & Regulatory Issues					      28
		   Montreal Protocol						      29
		   Kyoto Protocol						      31
		   Energy Efficiency						      33
		Technology & Product Innovation					      34

	III.	OVERVIEW							      37
		General								      37
		Regional Overview						      38
		   Demand							      38
		   Production							      43
		   International Trade						      45
		Demand by Product						      47
		   Room Air Conditioners					      49
		   Unitary Air Conditioners					      53
		   Heat Pumps							      56
		   Boilers							      59
		   Warm Air Furnaces						      62
		   Other Heating & Cooling Equipment				      65

	IV.	NORTH AMERICA							      68
		General								      68
		HVAC Equipment Supply & Demand					      69
		Demand by Type & Market						      72
		United States							      74
		Canada								      81
		Mexico								      87

	V.	WESTERN EUROPE							      94
		General								      94
		HVAC Equipment Supply & Demand					      95
		Demand by Type & Market						      99
		France								     101
		Germany								     107
		Italy								     115
		Spain								     122
		United Kingdom							     129
		Other Western Europe						     134

	VI.	ASIA/PACIFIC							     142
		General								     142
		HVAC Equipment Supply & Demand					     143
		Demand by Type & Market						     147
		Australia							     149
		China								     156
		India								     165
		Indonesia							     173
		Japan								     179
		South Korea							     187
		Other Asia/Pacific						     194

	VII.	OTHER REGIONS							     202
		Central & South America						     202
		   HVAC Equipment Supply & Demand				     203
		   Demand by Type & Market					     206
		   Brazil							     208
		   Other Central & South America				     215
		Eastern Europe							     222
		   HVAC Equipment Supply & Demand				     223
		   Demand by Type & Market					     226
		   Poland							     228
		   Russia							     234
		   Other Eastern Europe						     242
		Africa/Mideast							     248
		   HVAC Equipment Supply & Demand				     250
		   Demand by Type & Market					     253
		   Turkey							     255
		   Other Africa/Mideast						     262

	VIII.	INDUSTRY STRUCTURE						     271
		General								     271
		Industry Composition						     272
		Market Share							     275
		   Daikin Industries						     276
		   Gree Electric Appliances					     277
		   United Technologies						     277
		   Ingersoll-Rand						     278
		   GD Midea							     279
		   Other Leaders						     279
		Development & Manufacturing					     279
		Marketing							     282
		Distribution							     284
		Merger & Acquisitions						     285
		Cooperative Agreements						     289
		Company Profiles						     300
		   Airwell Air Conditioning, see Elco Holdings
		   Alliance Compressors, see Emerson Electric, Ingersoll-Rand, and Lennox International
		   Allied Air Enterprises, see Lennox International
		   American Standard Heating and Air Conditioning, see 
		      Ingersoll-Rand
		   Ariston Thermo Group						     301
		   Blue Star Limited						     305
		   Bosch (Robert) GmbH						     309
		   Broan-NuTone, see Nortek
		   Carlyle Compressor, see United Technologies
		   Carrier, see United Technologies
		   Chunlan Group Corporation					     313
		   Cipag (Switzerland), see Ariston Thermo Group
		   Circul-Aire, see Dectron Internationale
		   Climaveneta, see DeLclima
		   Compania Tecno Industrial, see Electrolux
		   Control Products, see Emerson Electric
		   Daikin Industries Limited					     315
		   Danfoss A/S							     323
		   Dectron Internationale Incorporated				     330
		   De’Longhi SpA						     333
		   DeLclima SpA							     335
		   Dunham-Bush Holding Berhad					     337
		   Ecosaire, see Dectron Internationale
		   Elco Holdings Limited					     340
		   Elco Shared Services, see Ariston Thermo Group
		   Electra, see Elco Holdings
		   Electrolux AB						     345
		   Emerson Electric Company					     347
		   Empresa Brasileira de Compressores, see Whirlpool
		   Flex-Tek Group, see Smiths Group
		   Fusite, see Emerson Electric
		   GD Midea Holding Company Limited				     353
		   Goodman Global Incorporated					     356
		   Gree Electric Appliances Incorporated			     358
		   Haier Group Company						     361
		   Hartford Compressors, see Dunham-Bush Holding Berhad
		   Heatcraft Australia, see Lennox International
		   Hitachi Limited						     365
		   Huntair, see Nortek
		   Ingersoll-Rand plc						     369
		   J&E Hall International, see Daikin Industries
		   Johnson Controls Incorporated				     376
		   Kermi GmbH							     382
		   Lennox International Incorporated				     383
		   LG Electronics Incorporated					     389
		   Maytag, see Whirlpool
		   McQuay International, see Daikin Industries
		   MHS Boilers, see Ariston Thermo Group
		   Misr Refrigeration and Air Conditioning Manufacturing, 
		      see GD Midea Holding and United Technologies
		   Mitsubishi Electric Corporation				     392
		   Nordyne, see Nortek
		   Nortek Incorporated						     396
		   OYL-Condair Industries Sdn Berhad, see Daikin 
		      Industries and Johnson Controls
		   OYL Manufacturing Sdn Berhad, see Daikin Industries
		   Paloma Company Limited					     402
		   Panasonic Corporation					     405
		   Raypak, see Paloma
		   RC Group, see DeLclima
		   RefPlus, see Dectron Internationale
		   Rheem Manufacturing, see Paloma
		   Ruud Manufacturing, see Paloma
		   Samsung Electronics Company Limited				     409
		   SANYO Electric, see Panasonic
		   Sharp Corporation						     411
		   Smiths Group plc						     413
		   Tecumseh Products Company					     415
		   Thermoplus Air, see Dectron Internationale
		   Therm-O-Disc, see Emerson Electric
		   Trane, see Ingersoll-Rand
		   Tutco, see Smiths Group
		   United Technologies Corporation				     418
		   Voltas Limited						     428
		   Whirlpool Corporation					     431
		   York Malaysia Sales & Services Sdn Berhad, see Daikin 
		      Industries and Johnson Controls
		Additional Companies in World HVAC Equipment			     435


				      LIST OF TABLES

    TABLE NUMBER								    PAGE


		SECTION I -- EXECUTIVE SUMMARY
		Summary Table							       3

		SECTION II -- MARKET ENVIRONMENT
	1	World Gross Domestic Product by Region				      11
	2	World Fixed Investment by Region				      13
	3	World Per Capita GDP by Region					      15
	4	World Population by Region					      17
	5	World Households by Region					      18
	6	World Urban Population by Region				      20
	7	World Building Construction Expenditures by Region		      22
	8	World Residential Building Construction Expenditures 
		   by Region							      24
	9	World Nonresidential Building Construction Expenditures 
		   by Region							      25

		SECTION III -- OVERVIEW
	1	World HVAC Equipment Demand by Region				      41
	2	World HVAC Equipment Shipments by Region			      44
	3	World HVAC Equipment Net Exports by Region			      47
	4	World HVAC Equipment Demand by Product				      48
	5	World Room Air Conditioner Demand by Region			      52
	6	World Unitary Air Conditioner Demand by Region			      55
	7	World Heat Pump Demand by Region				      58
	8	World Boiler Demand by Region					      61
	9	World Warm Air Furnace Demand by Region				      64
	10	World Other Heating & Cooling Equipment Demand 
		   by Region							      66

		SECTION IV -- NORTH AMERICA
	1	North America: HVAC Equipment Supply & Demand			      71
	2	North America: HVAC Equipment Demand by Type & Market		      73
	3	United States: HVAC Equipment Supply & Demand			      78
	4	United States: HVAC Equipment Demand by Type & Market		      81
	5	Canada: HVAC Equipment Supply & Demand				      85
	6	Canada: HVAC Equipment Demand by Type & Market			      87
	7	Mexico: HVAC Equipment Supply & Demand				      91
	8	Mexico: HVAC Equipment Demand by Type & Market			      93

		SECTION V -- WESTERN EUROPE
	1	Western Europe: HVAC Equipment Supply & Demand			      98
	2	Western Europe: HVAC Equipment Demand by Type 
		   & Market							     100
	3	France: HVAC Equipment Supply & Demand				     105
	4	France: HVAC Equipment Demand by Type & Market			     107
	5	Germany: HVAC Equipment Supply & Demand				     112
	6	Germany:  HVAC Equipment Demand by Type & Market		     115
	7	Italy: HVAC Equipment Supply & Demand				     120
	8	Italy: HVAC Equipment Demand by Type & Market			     122
	9	Spain: HVAC Equipment Supply & Demand				     126
	10	Spain: HVAC Equipment Demand by Type & Market			     128
	11	United Kingdom: HVAC Equipment Supply & Demand			     132
	12	United Kingdom: HVAC Equipment Demand by Type 
		   & Market							     134
	13	Other Western Europe: HVAC Equipment Supply & Demand		     138
	14	Other Western Europe: HVAC Equipment Demand by Type 
		   & Market							     141

		SECTION VI -- ASIA/PACIFIC
	1	Asia/Pacific: HVAC Equipment Supply & Demand			     146
	2	Asia/Pacific: HVAC Equipment Demand by Type & Market		     148
	3	Australia: HVAC Equipment Supply & Demand			     153
	4	Australia: HVAC Equipment Demand by Type & Market		     156
	5	China: HVAC Equipment Supply & Demand				     162
	6	China: HVAC Equipment Demand by Type & Market			     165
	7	India: HVAC Equipment Supply & Demand				     169
	8	India: HVAC Equipment Demand by Type & Market			     172
	9	Indonesia: HVAC Equipment Supply & Demand			     177
	10	Indonesia: HVAC Equipment Demand by Type & Market		     179
	11	Japan: HVAC Equipment Supply & Demand				     184
	12	Japan: HVAC Equipment Demand by Type & Market			     187
	13	South Korea: HVAC Equipment Supply & Demand			     191
	14	South Korea: HVAC Equipment Demand by Type & Market		     194
	15	Other Asia/Pacific: HVAC Equipment Supply & Demand		     199
	16	Other Asia/Pacific: HVAC Equipment Demand by Type 
		   & Market							     201

		SECTION VII -- OTHER REGIONS
	1	Central & South America: HVAC Equipment Supply 
		   & Demand							     205
	2	Central & South America: HVAC Equipment Demand by Type 
		   & Market							     207
	3	Brazil: HVAC Equipment Supply & Demand				     212
	4	Brazil: HVAC Equipment Demand by Type & Market			     215
	5	Other Central & South America: HVAC Equipment Supply 
		   & Demand							     219
	6	Other Central & South America: HVAC Equipment Demand by Type & Market221
	7	Eastern Europe: HVAC Equipment Supply & Demand			     225
	8	Eastern Europe: HVAC Equipment Demand by Type & Market		     227
	9	Poland: HVAC Equipment Supply & Demand				     231
	10	Poland: HVAC Equipment Demand by Type & Market			     234
	11	Russia: HVAC Equipment Supply & Demand				     239
	12	Russia: HVAC Equipment Demand by Type & Market			     242
	13	Other Eastern Europe: HVAC Equipment Supply & Demand		     246
	14	Other Eastern Europe: HVAC Equipment Demand by Type 
		   & Market							     248
	15	Africa/Mideast: HVAC Equipment Supply & Demand			     252
	16	Africa/Mideast: HVAC Equipment Demand by Type & Market		     254
	17	Turkey: HVAC Equipment Demand Supply & Demand			     259
	18	Turkey: HVAC Equipment Demand by Type & Market			     261
	19	Other Africa/Mideast: HVAC Equipment Supply & Demand		     267
	20	Other Africa/Mideast: HVAC Equipment Demand by Type 
		   & Market							     270

		SECTION VIII -- INDUSTRY STRUCTURE
	1	World HVAC Equipment Sales by Company, 2011			     274
	2	Selected Acquisitions & Divestitures				     287
	3	Selected Cooperative Agreements					     292


				      LIST OF CHARTS

    CHART NUMBER								    PAGE


		SECTION III -- OVERVIEW
	1	World HVAC Equipment Demand by Region, 2011			      42
	2	World HVAC Equipment Demand by Region, 2001-2021		      42
	3	World HVAC Equipment Shipments by Region, 2011			      45
	4	World HVAC Equipment Demand by Type, 2011			      49
	5	World Room Air Conditioner Demand by Region, 2011		      53
	6	World Unitary Air Conditioner Demand by Region, 2011		      56
	7	World Heat Pump Demand by Region, 2011				      59
	8	World Boiler Demand by Region, 2011				      62
	9	World Warm Air Furnace Demand by Region, 2011			      65
	10	World Other Heating & Cooling Equipment Demand 
		   by Region, 2011						      67

		SECTION IV -- NORTH AMERICA
	1	North America: HVAC Demand by Country, 2011			      74

		SECTION V -- WESTERN EUROPE
	1	Western Europe:  HVAC EQUIPMENT Demand 
		   by Country, 2011						     101

		SECTION VI -- ASIA/PACIFIC
	1	Asia/Pacific:  HVAC EQUIPMENT Demand by Country, 2011		     149

		SECTION VIII -- INDUSTRY STRUCTURE
	1	World HVAC Equipment Market Share, 2011				     276