Residential HVAC Market to Grow at 10.38% CAGR Driven by Indoor Air Quality to 2019
The global residential HVAC market has revived after the global recession, with the global housing price index steadily recovering. Construction of residential buildings has seen rapid development in countries such as China, India, Canada, and Brazil, as the economies of these countries are developing quickly
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The growing concern for indoor air quality is one of the main reasons driving the growth of the residential HVAC market. Daily exposure to multiple chemicals, having an indoor presence adds to the increasing prevalence of asthma, autism, childhood cancer and many other medically unexplained symptoms. Thus, people have become more aware of these concerns in the recent past and have started adopting measures to prevent these problems leading to an increase in the sales of HVAC equipment.
Complete report on residential HVAC market spread across 54 pages, profiling 3 companies and supported with 34 data exhibits is now available at http://www.reportsnreports.com/reports/461305-global-residential-hvac-market-2015-2019.html.
After the recession of 2009, there has been an incredible increase in the construction of residential buildings, especially in APAC countries like India and China, which is driving the market for residential HVAC. The analysts forecast Global residential HVAC market to grow at a CAGR of 10.38% during the period 2015-2019.
The growth rate of the global elderly population is 1.9%, significantly higher than the total population growth rate of 1.2%. Aging populations require added comfort and ease of use in both buildings and vehicles. Therefore, the need for advanced HVAC systems that can provide controlled indoor environments is increasing.
Segmentation of the Residential HVAC Market by Application – Air conditioning, Heating and Ventilating
The global residential HVAC by air conditioning segment is growing rapidly and is expected to reach $84.38 by 2019 growing at a remarkable CAGR of over 12%. The segment to multiply significantly during the forecast period due to rising demand for the split, single-packaged, window, and portable air conditioners. Order a Single User License Copy of Global Residential HVAC Market 2015-2019 Report at http://www.reportsnreports.com/Purchase.aspx?name=461305.
Geographical Segmentation of the Residential Hvac Market – APAC, North America, Western Europe, Eastern Europe and ROW
In terms of geography, the APAC region held the largest share with over 52% of the total market share in 2014, and this region is expected to maintain their dominance during the forecast period. Rapid urbanization and infrastructure developments are the major factors contributing to the growth of the market in this region.
At present, the global residential HVAC market is dominated by the major vendors who have considerable market share. However, the market is facing intense competition from local and Chinese vendors who are selling their products at a reduced cost.
The key vendors analyzed in residential HVAC market report are Daikin Industries, HCM, and LG Electronics.
Other prominent vendors included in this report are Haier Electronics, Mitsubishi Electric, Broad Air Conditioning Co. Ltd., Century Corporation, GD Midea, AB Electrolux, Haier, Lennox International, EAW Energieanlagenbau GmbH, and Johnson Controls.
Further, the report states that the residential HVAC market is highly fragmented with the presence of several vendors. Pricing pressures and lack of product differentiation result in low consumer loyalty.
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