About Residential HVAC
A residential HVAC stands for the consolidated heating, ventilation, and air conditioning system incorporated into homes, which regulates internal temperature, interior air quality, and humidity level. The four major components used in a household HVAC system comprise the furnace or heat pump-heating, an air conditioner, ducts and ventilation, and a thermostat temperature control. Working together, it maintains a perfect indoor climate within the home setting, regardless of external weather phenomena. Most HVAC systems use gas, electric, or oil furnaces to generate heat and air conditioning units to extract heat from the air. Ventilation is important to ensure air quality, and most residential systems rely on ductwork as means of circulating air throughout the house. Ventilation helps in removing excess moisture and pollutants, carbon dioxide, and other gaseous materials from the indoor air and, therefore, maintaining healthy living conditions. The thermostat controls the entire system by enabling users to set desired temperatures which can then make the heating or cooling cycle necessary. Residential HVAC systems are designed to save energy and keep the home comfortable. Modern units often include variable-speed fans, programmable thermostats, and air filtration systems. In order to work efficiently and as long as possible, these systems require regular maintenance, such as changing filters and servicing the furnace or air conditioner.
Attributes | Details |
---|
Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Carrier Global Corp. (USA), Daikin Industries Ltd. (Japan), Danfoss AS (Denmark), Electrolux Group (Sweden), Fujitsu Ltd. (Japan), Gree Electric Appliances Inc. of Zhuhai (China), Haier Smart Home Co. Ltd. (China), Honeywell International Inc. (USA), Johnson Controls International Plc (Ireland), Lennox International Inc. (USA), LG Corp. (South Korea), Midea Group Co. Ltd. (China), National HVAC Service (USA), Paloma Co. Ltd. (Japan), Panasonic Holdings Corp. (Japan), Samsung Electronics Co. Ltd. (South Korea), Systemair AB (Sweden), Toshiba Corp. (Japan), Trane Technologies Plc (Ireland) and Whirlpool Corp. (USA) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Residential HVAC market by Type (Unitary Air Conditioner, Ventilation Fan/Air Pumps, Humidifiers/Dehumidifiers and Others), Application (Air Conditioning, Heating and Ventilating) and Region.
On the basis of geography, the market of Residential HVAC has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End-user Industry, the sub-segment i.e. Manufacturing will boost the Residential HVAC market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Direct will boost the Residential HVAC market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by System Type, the sub-segment i.e. Single Split will boost the Residential HVAC market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing adoption of smart home technologies and Growing demand for energy-efficient products
Market Growth Drivers:
Growing demand for energy-efficient products, Increasing awareness of the importance of indoor air quality and Increasing global population
Challenges:
Rising cost of raw materials and Increasing competition from alternative technologies
Restraints:
Regulatory changes
Market Leaders and their expansionary development strategies
Bosch, the supplier of technology and services, is continuing its growth course with a strategic acquisition. For its Energy and Building Technology business sector, the Bosch Group plans to take over the global HVAC solutions business for residential and light commercial buildings from Johnson Controls. The new partnership with Bosch to establish a global air-conditioning business is an important step.
September 2023, Johnson Controls-Hitachi Air Conditioning today introduced the Hitachi air365 Hybrid dual fuel system, which combines a heat pump and furnace to provide efficient, economical home comfort year-round while reducing carbon emissions. The air365 Hybrid system features an electric Hitachi Mini VRF heat pump as the primary heating and cooling source and an innovative dual fuel module that attaches to a home's new or existing gas furnace.
Key Target Audience
Manufacturers of Organic Spices, Suppliers of Organic Spices Materials, Wholesalers, Distributors and Retailers of Organic Spices, Food Industry, Pharmaceutical and Governmental Bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.