World HVAC Equipment

As Quoted In Appliance Design

Growth in income levels in developing countries such as China and India, plus a recovery in the housing markets in the US and Western Europe, will boost demand for HVAC equipment.

World demand to rise 5.7% per year through 2018

Global demand for HVAC equipment is forecast to grow 5.7 percent annually to $120 billion in 2018. Growth will be stimulated by an expansion of reliable energy sources and increases in income levels in China, India, and other developing countries, making HVAC equipment more accessible to a larger number of consumers. A recovery in the housing markets in the US and Western Europe, along with rebounding consumer confidence levels, will also assist sales gains.

New programs, more efficient models to fuel gains

Additional demand will result from retro-fits as older inefficient HVAC equipment is switched out for new high efficiency models. As a result, interest will continue to expand for heat pumps, condensing boilers, split systems, and solar powered units. Changing regulations regarding refrigerants are also affecting HVAC equipment sales and the cooling equipment product mix. Under programs like the Montreal Protocol, countries are phasing out the use of hydrochlorofluorocarbons (HCFCs) such as R-22, which will drive sales of cooling systems using less environmentally harmful refrigerants.

India, Indonesia to post fastest growth worldwide

The Asia/Pacific region was the largest market for HVAC equipment in 2013, with more than half of the global total. Growth will be spurred in large part by China, which will account for one-third of worldwide sales in 2018. Indonesia and India, however, will record the fastest gains. Rapid economic growth, as well as an expansion in electrification and greater product availability, has fueled demand for goods such as air condi-tioners in these and other developing Asian countries, and will continue to do so through the forecast period.

On a regional basis, North America is ex-pected to achieve the most rapid gains through 2018. The US, which accounts for the largest share of North American demand, was adversely affected in recent years by the 2007-2009 recession and subsequent slow recovery. This caused consumers to cancel purchases -- either to replace an existing version or to add new equipment -- and to repair used equipment when possible. Sales growth will stem primarily from a release of this pent up demand.

Heat pumps to record most rapid advances

Heat pumps will see the most rapid growth, based on lower penetration rates in many markets. Heat pumps are finding greater acceptance due to their multiple capabilities (many models feature both cooling and space heating, and some also have the ability to heat water), and higher efficiency compared to many other cooling or space heating units. In some nations, government financial incentive programs will boost sales.

Study coverage

This study analyzes the $91.5 billion world HVAC equipment industry. It presents historical demand data for 2003, 2008 and 2013, and forecasts for 2018 and 2023 by product (e.g., room air conditioners, unitary air conditioners, heat pumps, boilers, warm air furnaces), world region, and for 18 countries.

The study also considers market environment factors, details industry structure, evaluates company market share and profiles 31 industry participants, including GD Midea, Gree Electric Appliances and Daikin Industries.

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  1. World HVAC Equipment

    $6,300.00

    1. 1 INTRODUCTION

      $201.00

    2. 2 EXECUTIVE SUMMARY

      $127.00

      1. Table | WORLD HVAC EQUIPMENT DEMAND

    3. 3 MARKET ENVIRONMENT

      $1,477.00

      1. 3.1 General

        $82.00

      2. 3.2 World Economic Overview

        $234.00

        1. 3.2.1 Recent Historical Trends

          $82.00

        2. 3.2.2 World Economic Outlook

          $149.00

          1. Table | WORLD GROSS DOMESTIC PRODUCT BY REGION

      3. 3.3 Fixed Investment Trends

        $82.00

        1. Table | WORLD FIXED INVESTMENT BY REGION

      4. 3.4 Personal Income Trends

        $82.00

        1. Table | WORLD PER CAPITA GDP BY REGION

      5. 3.5 World Demographic Overview

        $248.00

        1. 3.5.1 Population

          $86.00

          1. Table | WORLD POPULATION BY REGION

        2. 3.5.2 Households

          $82.00

          1. Table | WORLD HOUSEHOLDS BY REGION

        3. 3.5.3 World Urbanization Patterns

          $82.00

          1. Table | WORLD URBAN POPULATION BY REGION

      6. 3.6 Building Construction Expenditures

        $193.00

        1. Table | WORLD BUILDING CONSTRUCTION EXPENDITURES BY REGION

        2. 3.6.1 Residential Construction Expenditures

          $82.00

          1. Table | WORLD RESIDENTIAL BUILDING CONSTRUCTION EXPENDITURES BY REGION

        3. 3.6.2 Nonresidential Construction Expenditures

          $82.00

          1. Table | WORLD NONRESIDENTIAL BUILDING CONSTRUCTION EXPENDITURES BY REGION

      7. 3.7 Climate & Cultural Factors

        $82.00

      8. 3.8 Pricing Patterns

        $82.00

      9. 3.9 Legal & Regulatory Issues

        $354.00

        1. 3.9.1 Montreal Protocol

          $155.00

        2. 3.9.2 Kyoto Protocol

          $93.00

        3. 3.9.3 Energy Efficiency

          $89.00

      10. 3.10 Technology & Product Innovation

        $105.00

    4. 4 OVERVIEW

      $1,098.00

      1. 4.1 General

        $82.00

      2. 4.2 Regional Overview

        $354.00

        1. 4.2.1 Demand

          $150.00

          1. Table | WORLD HVAC EQUIPMENT DEMAND BY REGION

          2. CHART III-1 WORLD HVAC EQUIPMENT DEMAND BY REGION, 2013

          3. CHART III-2 WORLD HVAC EQUIPMENT DEMAND BY REGION, 2003-2023

        2. 4.2.2 Production

          $102.00

          1. Table | WORLD HVAC EQUIPMENT SHIPMENTS BY REGION

          2. CHART III-3 WORLD HVAC EQUIPMENT SHIPMENTS BY REGION, 2013

        3. 4.2.3 International Trade

          $92.00

          1. Table | WORLD HVAC EQUIPMENT NET EXPORTS BY REGION

      3. 4.3 Demand by Product

        $683.00

        1. Table | WORLD HVAC EQUIPMENT DEMAND BY PRODUCT

        2. CHART III-4 WORLD HVAC EQUIPMENT DEMAND BY PRODUCT, 2013

        3. 4.3.1 Room Air Conditioners

          $178.00

          1. Table | WORLD ROOM AIR CONDITIONER DEMAND BY REGION

          2. CHART III-5 WORLD ROOM AIR CONDITIONER DEMAND BY REGION, 2013

        4. 4.3.2 Unitary Air Conditioners

          $104.00

          1. Table | WORLD UNITARY AIR CONDITIONER DEMAND BY REGION

          2. CHART III-6 WORLD UNITARY AIR CONDITIONER DEMAND BY REGION, 2013

        5. 4.3.3 Heat Pumps

          $114.00

          1. Table | WORLD HEAT PUMP DEMAND BY REGION

          2. CHART III-7 WORLD HEAT PUMP DEMAND BY REGION, 2013

        6. 4.3.4 Boilers

          $90.00

          1. Table | WORLD BOILER DEMAND BY REGION

          2. CHART III-8 WORLD BOILER DEMAND BY REGION, 2013

        7. 4.3.5 Warm Air Furnaces

          $82.00

          1. Table | WORLD WARM AIR FURNACE DEMAND BY REGION

          2. CHART III-9 WORLD WARM AIR FURNACE DEMAND BY REGION, 2013

        8. 4.3.6 Other Heating & Cooling Equipment

          $82.00

          1. Table | WORLD OTHER HEATING & COOLING EQUIPMENT DEMAND BY REGION

          2. CHART III-10 WORLD OTHER HEATING & COOLING EQUIPMENT DEMAND BY REGION, 2013

    5. 5 NORTH AMERICA

      $1,100.00

      1. 5.1 North America: General

        $82.00

      2. 5.2 North America: HVAC Equipment Supply & Demand

        $141.00

        1. Table | NORTH AMERICA: HVAC EQUIPMENT SUPPLY & DEMAND

      3. 5.3 North America: Demand by Type & Market

        $87.00

        1. Table | NORTH AMERICA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

        2. CHART IV-1 NORTH AMERICA: HVAC EQUIPMENT DEMAND BY COUNTRY, 2013

      4. 5.4 United States

        $290.00

        1. 5.4.1 United States: General

          $82.00

        2. 5.4.2 United States: HVAC Equipment Supply & Demand

          $147.00

          1. Table | UNITED STATES: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 5.4.3 United States: Demand by Type & Market

          $86.00

          1. Table | UNITED STATES: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

      5. 5.5 Canada

        $246.00

        1. 5.5.1 Canada: General

          $82.00

        2. 5.5.2 Canada: HVAC Equipment Supply & Demand

          $114.00

          1. Table | CANADA: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 5.5.3 Canada: Demand by Type & Market

          $82.00

          1. Table | CANADA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

      6. 5.6 Mexico

        $283.00

        1. 5.6.1 Mexico: General

          $82.00

        2. 5.6.2 Mexico: HVAC Equipment Supply & Demand

          $156.00

          1. Table | MEXICO: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 5.6.3 Mexico: Demand by Type & Market

          $82.00

          1. Table | MEXICO: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

    6. 6 WESTERN EUROPE

      $1,802.00

      1. 6.1 Western Europe: General

        $82.00

      2. 6.2 Western Europe: HVAC Equipment Supply & Demand

        $100.00

        1. Table | WESTERN EUROPE: HVAC EQUIPMENT SUPPLY & DEMAND

      3. 6.3 Western Europe: Demand by Type & Market

        $91.00

        1. Table | WESTERN EUROPE: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

        2. CHART V-1 WESTERN EUROPE: HVAC EQUIPMENT DEMAND BY COUNTRY, 2013

      4. 6.4 France

        $255.00

        1. 6.4.1 France: General

          $82.00

        2. 6.4.2 France: HVAC Equipment Supply & Demand

          $88.00

          1. Table | FRANCE: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 6.4.3 France: Demand by Type & Market

          $115.00

          1. Table | FRANCE: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

      5. 6.5 Germany

        $320.00

        1. 6.5.1 Germany: General

          $82.00

        2. 6.5.2 Germany: HVAC Equipment Supply & Demand

          $157.00

          1. Table | GERMANY: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 6.5.3 Germany: Demand by Type & Market

          $110.00

          1. Table | GERMANY: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

      6. 6.6 Italy

        $255.00

        1. 6.6.1 Italy: General

          $82.00

        2. 6.6.2 Italy: HVAC Equipment Supply & Demand

          $120.00

          1. Table | ITALY: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 6.6.3 Italy: Demand by Type & Market

          $82.00

          1. Table | ITALY: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

      7. 6.7 Spain

        $232.00

        1. 6.7.1 Spain: General

          $82.00

        2. 6.7.2 Spain: HVAC Equipment Supply & Demand

          $90.00

          1. Table | SPAIN: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 6.7.3 Spain: Demand by Type & Market

          $82.00

          1. Table | SPAIN: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

      8. 6.8 United Kingdom

        $225.00

        1. 6.8.1 United Kingdom: General

          $82.00

        2. 6.8.2 United Kingdom: HVAC Equipment Supply & Demand

          $105.00

          1. Table | UNITED KINGDOM: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 6.8.3 United Kingdom: Demand by Type & Market

          $82.00

          1. Table | UNITED KINGDOM: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

      9. 6.9 Other Western Europe

        $251.00

        1. 6.9.1 Other Western Europe: General

          $82.00

        2. 6.9.2 Other Western Europe: HVAC Equipment Supply & Demand

          $102.00

          1. Table | OTHER WESTERN EUROPE: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 6.9.3 Other Western Europe: Demand by Type & Market

          $88.00

          1. Table | OTHER WESTERN EUROPE: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

    7. 7 ASIA/PACIFIC

      $2,603.00

      1. 7.1 Asia/Pacific: General

        $82.00

      2. 7.2 Asia/Pacific: HVAC Equipment Supply & Demand

        $157.00

        1. Table | ASIA/PACIFIC: HVAC EQUIPMENT SUPPLY & DEMAND

      3. 7.3 Asia/Pacific: Demand by Type & Market

        $103.00

        1. Table | ASIA/PACIFIC: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

        2. CHART VI-1 ASIA/PACIFIC: HVAC EQUIPMENT DEMAND BY COUNTRY, 2013

      4. 7.4 Australia

        $294.00

        1. 7.4.1 Australia: General

          $82.00

        2. 7.4.2 Australia: HVAC Equipment Supply & Demand

          $110.00

          1. Table | AUSTRALIA: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 7.4.3 Australia: Demand by Type & Market

          $135.00

          1. Table | AUSTRALIA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

      5. 7.5 China

        $406.00

        1. 7.5.1 China: General

          $82.00

        2. 7.5.2 China: HVAC Equipment Supply & Demand

          $211.00

          1. Table | CHINA: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 7.5.3 China: Demand by Type & Market

          $123.00

          1. Table | CHINA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

      6. 7.6 India

        $357.00

        1. 7.6.1 India: General

          $82.00

        2. 7.6.2 India: HVAC Equipment Supply & Demand

          $139.00

          1. Table | INDIA: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 7.6.3 India: Demand by Type & Market

          $150.00

          1. Table | INDIA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

      7. 7.7 Indonesia

        $339.00

        1. 7.7.1 Indonesia: General

          $82.00

        2. 7.7.2 Indonesia: HVAC Equipment Supply & Demand

          $169.00

          1. Table | INDONESIA: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 7.7.3 Indonesia: Demand by Type & Market

          $107.00

          1. Table | INDONESIA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

      8. 7.8 Japan

        $298.00

        1. 7.8.1 Japan: General

          $82.00

        2. 7.8.2 Japan: HVAC Equipment Supply & Demand

          $152.00

          1. Table | JAPAN: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 7.8.3 Japan: Demand by Type & Market

          $82.00

          1. Table | JAPAN: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

      9. 7.9 South Korea

        $274.00

        1. 7.9.1 South Korea: General

          $82.00

        2. 7.9.2 South Korea: HVAC Equipment Supply & Demand

          $105.00

          1. Table | SOUTH KOREA: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 7.9.3 South Korea: Demand by Type & Market

          $107.00

          1. Table | SOUTH KOREA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

      10. 7.10 Other Asia/Pacific

        $311.00

        1. 7.10.1 Other Asia/Pacific: General

          $82.00

        2. 7.10.2 Other Asia/Pacific: HVAC Equipment Supply & Demand

          $156.00

          1. Table | OTHER ASIA/PACIFIC: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 7.10.3 Other Asia/Pacific: Demand by Type & Market

          $93.00

          1. Table | OTHER ASIA/PACIFIC: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

    8. 8 OTHER REGIONS

      $2,675.00

      1. 8.1 Central & South America

        $824.00

        1. 8.1.1 Central & South America: General

          $82.00

        2. 8.1.2 Central & South America: HVAC Equipment Supply & Demand

          $110.00

          1. Table | CENTRAL & SOUTH AMERICA: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 8.1.3 Central & South America: Demand by Type & Market

          $82.00

          1. Table | CENTRAL & SOUTH AMERICA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

        4. 8.1.4 Brazil

          $326.00

          1. Table | BRAZIL: HVAC EQUIPMENT SUPPLY & DEMAND

          2. Table | BRAZIL: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

        5. 8.1.5 Other Central & South America

          $255.00

          1. Table | OTHER CENTRAL & SOUTH AMERICA: HVAC EQUIPMENT SUPPLY & DEMAND

          2. Table | OTHER CENTRAL & SOUTH AMERICA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

      2. 8.2 Eastern Europe

        $999.00

        1. 8.2.1 Eastern Europe: General

          $82.00

        2. 8.2.2 Eastern Europe: HVAC Equipment Supply & Demand

          $94.00

          1. Table | EASTERN EUROPE: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 8.2.3 Eastern Europe: Demand by Type & Market

          $82.00

          1. Table | EASTERN EUROPE: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

        4. 8.2.4 Poland

          $214.00

          1. Table | POLAND: HVAC EQUIPMENT SUPPLY & DEMAND

          2. Table | POLAND: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

        5. 8.2.5 Russia

          $316.00

          1. Table | RUSSIA: HVAC EQUIPMENT SUPPLY & DEMAND

          2. Table | RUSSIA: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

        6. 8.2.6 Other Eastern Europe

          $243.00

          1. Table | OTHER EASTERN EUROPE: HVAC EQUIPMENT SUPPLY & DEMAND

          2. Table | OTHER EASTERN EUROPE: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

      3. 8.3 Africa/Mideast

        $852.00

        1. 8.3.1 Africa/Mideast: General

          $82.00

        2. 8.3.2 Africa/Mideast: HVAC Equipment Supply & Demand

          $109.00

          1. Table | AFRICA/MIDEAST: HVAC EQUIPMENT SUPPLY & DEMAND

        3. 8.3.3 Africa/Mideast: Demand by Type & Market

          $110.00

          1. Table | AFRICA/MIDEAST: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

        4. 8.3.4 Turkey

          $226.00

          1. Table | TURKEY: HVAC EQUIPMENT DEMAND SUPPLY & DEMAND

          2. Table | TURKEY: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

        5. 8.3.5 Other Africa/Mideast

          $339.00

          1. Table | OTHER AFRICA/MIDEAST: HVAC EQUIPMENT SUPPLY & DEMAND

          2. Table | OTHER AFRICA/MIDEAST: HVAC EQUIPMENT DEMAND BY TYPE & MARKET

    9. 9 INDUSTRY STRUCTURE

      $6,339.00

      1. 9.1 General

        $82.00

      2. 9.2 Industry Composition

        $100.00

        1. Table | WORLD HVAC EQUIPMENT SALES BY COMPANY, 2013

      3. 9.3 Market Share

        $166.00

        1. CHART VIII-1 WORLD HVAC EQUIPMENT MARKET SHARE, 2013

      4. 9.4 Development & Manufacturing

        $100.00

      5. 9.5 Marketing

        $109.00

      6. 9.6 Distribution

        $82.00

      7. 9.7 Mergers & Acquisitions

        $90.00

        1. Table | SELECTED ACQUISITIONS & DIVESTITURES

      8. 9.8 Cooperative Agreements

        $267.00

        1. Table | SELECTED COOPERATIVE AGREEMENTS

      9. 9.9 Company Profiles

        $5,553.00

        1. 9.9.1 AFG Arbonia-Forster-Holding AG

          $94.00

        2. 9.9.2 Ariston Thermo Group

          $166.00

        3. 9.9.3 Blue Star Limited

          $155.00

        4. 9.9.4 Bosch (Robert) GmbH

          $176.00

        5. 9.9.5 Daikin Industries Limited

          $458.00

        6. 9.9.6 Danfoss A/S

          $173.00

        7. 9.9.7 Dectron Internationale Incorporated

          $116.00

        8. 9.9.8 De'Longhi SpA

          $82.00

        9. 9.9.9 DeLclima SpA

          $120.00

        10. 9.9.10 Dunham-Bush Holding Bhd

          $138.00

        11. 9.9.11 Elco Holdings Limited

          $127.00

        12. 9.9.12 Electrolux AB

          $115.00

        13. 9.9.13 Emerson Electric Company

          $178.00

        14. 9.9.14 GD Midea Holding Company Limited

          $185.00

        15. 9.9.15 Gree Electric Appliances Incorporated

          $101.00

        16. 9.9.16 Haier Group Company

          $169.00

        17. 9.9.17 Hitachi Limited

          $223.00

        18. 9.9.18 Ingersoll-Rand plc

          $267.00

        19. 9.9.19 Jiangsu Chunlan Refrigerating Equipment Stock Company Limited

          $82.00

        20. 9.9.20 Johnson Controls Incorporated

          $320.00

        21. 9.9.21 Lennox International Incorporated

          $272.00

        22. 9.9.22 LG Electronics Incorporated

          $138.00

        23. 9.9.23 Mitsubishi Electric Corporation

          $227.00

        24. 9.9.24 Nortek Incorporated

          $245.00

        25. 9.9.25 Paloma Company Limited

          $132.00

        26. 9.9.26 Panasonic Corporation

          $171.00

        27. 9.9.27 Samsung Electronics Company Limited

          $82.00

        28. 9.9.28 Sharp Corporation

          $102.00

        29. 9.9.29 United Technologies Corporation

          $500.00

        30. 9.9.30 Voltas Limited

          $128.00

        31. 9.9.31 Whirlpool Corporation

          $136.00

      10. 9.10 Additional Companies

        $85.00

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