Asia Pacific Blood Glucose Test Strip Packaging Market Research Repor PR_Heating Ventilation and Air Conditioning Market | Page 2

By product type, the market includes central air conditioning, window or through the wall air
conditioners, split residential air conditioners, and packaged air conditioners. The market for split
air conditioners is deemed to experience a steady growth owing to its adoption in residential
buildings. However, packaged air conditioners market is expecting a heavy boost owing to its rising
demand from the commercial sector.
Application-wise, the market comprises institution, residential, commercial, hospitality, and others .
The commercial segment is anticipated to exhibit an impressive CAGR during the forecast period.
Eco-friendly construction designs have given rise to the demand for HVAC system which coupled
with favorable government guidelines can enjoy a healthy market growth.
Regional Analysis:
Geographically, the HVAC market covers regions such as the Middle East and Africa (MEA), Asia
Pacific (APAC), Europe, and the Americas.
The Americas and Europe are expected to be the leaders in terms of volume and value. The favorable
condition for the latest technological implementations, growing disposable income, and ready
adoption of the newest trends have resulted in such a robust market of HVAC. The popularity of
boilers and furnace is also a major reason that is driving the market forward.
The MEA region is a worthwhile province for HVAC market owing to climatic conditions. Upcoming
residential and commercial projects and well-performing economies could prove market controlling
factors.
The APAC region is going to experience robust growth owing to a number of factors such as rapid
urbanization, impressive industrialization, and a booming population. Government policies in China
have also provided the market with a conducive atmosphere. Easy home loans and new project
sanctions could also fetch in lucrative projects.
Market Competition:
The market is highly competitive due to the presence of several notable international brands with
their focus on capturing the maximum share. One of the methods they have applied is investing
heavily in research & developments. Other means such as merger and acquisitions are also taking
their natural course. For instance, Siemens Building Technologies Division is acquiring Silicon Valley-
based Enlighted Inc., a leading provider of smart IoT (Internet of Things) systems in buildings to
ensure better HVAC system. Daikin has also expanded their business into Oklahoma City by
partnering with Harrison Energy Partners, the largest HVAC firm in Arkansas.
The key HVAC market players are Zamil Air Conditioners, Daikin, Lennox International, Ingersoll
Rand, Samsung Electronics, Siemens Building Technologies, Johnson Controls, and others.
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