Global HVAC Aftermarket Market 2023-2027
Technavio has been monitoring the HVAC aftermarket market and is forecast to grow by USD 32929.46 mn during 2022-2027, accelerating at a CAGR of 7.77% during the forecast period. Our report on the HVAC aftermarket market provides a holistic analysis, market size, and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the robust growth of the construction industry, growing industrialization in developing economies, and the long life of HVAC systems.
Technavio's HVAC aftermarket market is segmented as below:
By Product
- Air conditioning equipment
- Heating equipment
- Ventilation equipment
By End-user
- Non-residential
- Residential
By Geography
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the adoption of cogeneration equipment as one of the prime reasons driving the HVAC aftermarket market growth during the next few years. Also, predictive maintenance and increasing automation, and a specific focus of vendors on non-residential sectors will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the HVAC aftermarket market covers the following areas:
- HVAC aftermarket market sizing
- HVAC aftermarket market forecast
- HVAC aftermarket market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading HVAC aftermarket market vendors that include AB Electrolux, Carrier Global Corp., Daikin Industries Ltd., Danfoss AS, Emerson Electric Co., Fujitsu Ltd., Haier Smart Home Co. Ltd., Hitachi Ltd., Lennox International Inc., LG Electronics Inc., MIDEA Group, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Siemens AG, Gree Electric Appliances lnc.of Zhuhai, Johnson Controls International Plc, Nortek, Trane Technologies Plc, and Vaillant GmbH. Also, the HVAC aftermarket market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.