Industrial HVAC Market size is set to grow by USD 7.00 billion from 2024-2028, Increasing demand for energy-efficient HVAC systems to boost the market growth, Technavio

NEW YORK, June 20, 2024 /PRNewswire/ -- The global industrial HVAC market  size is estimated to grow by USD 7.00 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  8.63%  during the forecast period.  Increasing demand for energy-efficient HVAC systems is driving market growth, with a trend towards growing adoption of advance refrigerants in air conditioners. However, frequent change in regulation pertaining to industrial hvac  poses a challenge. Key market players include Alfa Laval AB, Carrier Global Corp., Daikin Industries Ltd., Emerson Electric Co., Furukawa Electric Co. Ltd., Hitachi Ltd., Honeywell International Inc., Ingersoll Rand Inc., Johnson Controls International Plc., Lennox International Inc., LG Electronics Inc., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Shield Air Solutions Inc., Specific Systems LLC, Stryker Corp., and WHESCO Group Inc..

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Key Market Trends Fueling Growth

The Industrial HVAC market is shifting towards advanced, eco-friendly refrigerants for energy-efficient systems. Traditional refrigerants like CFCs, HCFCs, ammonia, and halons are being replaced. New product launches, such as variable refrigerant flow (VRF) systems, are driving demand due to their low global warming potential. Key industries include air conditioning, room heating, absorption refrigerators, and freezers. Chemicals, oil hydraulics, defense, electronics, and power solutions are also significant markets. Energy consumption, thermal comfort, and indoor air quality are key considerations in the face of climatic changes. 

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Market Challenges

• In the industrial HVAC market, manufacturers face challenges adhering to regional regulations, focusing on carbon footprint reduction and energy efficiency. Severe-duty equipment is required for explosive environments. New regulations due to industrial accidents intensify product development. Key components include Commercial HVAC systems, Thermostats, Condenser fans, Compressors, Evaporators, and Ventilation systems. Applications span from Data centers to Hospitals, Retrofits, and New Construction. Operating expenses depend on Heating Type, Cooling Equipment, and Ventilation Type.

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Segment Overview 

This industrial hvac market report extensively covers market segmentation by

1. End-user 
• 1.1 Process industry
• 1.2 Discrete industry
2. Type 
• 2.1 HVAC equipment
• 2.2 HVAC services
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Process industry-  The Industrial HVAC market encompasses various implementation types, including new construction and retrofit, in sectors such as process industries, hospitals, shopping malls, restaurants, and commercial construction. Energy efficiency and environmental sustainability are key drivers, leading to the demand for energy-efficient cooling systems like Room Air Conditioners, Unitary Air Conditioners, Chillers, Coolers, Cooling Towers, and VRF systems. The market caters to diverse industries, including chemicals, oil hydraulics, defense, electronics, and consumer goods, with product lines ranging from Air conditioning systems and Room-heating systems to Absorption refrigerators, Air-processing units, Freezers, and Fluorocarbons. New product launches continue to expand offerings, addressing needs in industries like semiconductors, dry air providers, and defense-related products. Natural gas, petroleum, and chemicals, mineral resources, industrial infrastructure, automotive and mobility, power solutions, and urban development sectors are significant markets for cooling equipment, including pumps, valves, lubrication units, and defense-related products.

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Research Analysis

The Industrial HVAC market encompasses the design, production, and installation of energy-efficient heating, ventilation, and air conditioning (HVAC) systems for industrial buildings. These systems are essential for maintaining thermal comfort and optimal indoor air quality in industrial settings. Industrial HVAC systems often include climate control technologies, such as space cooling and heating applications, to ensure a standard of living for workers and prolong the lifespan of commercial infrastructure. The demand for affordable housing units and commercial infrastructure continues to drive product development in the industrial HVAC market. Key components of industrial HVAC systems include thermostats, dampers, condenser fans, compressors, and evaporators. These systems are crucial for managing humidity levels and ensuring the proper functioning of industrial processes. The mortality rate associated with poor indoor air quality underscores the importance of investing in reliable and efficient industrial HVAC systems.

Market Research Overview

The Industrial HVAC market encompasses heating, ventilation, and air conditioning systems designed for industrial applications. These systems are crucial for maintaining optimal indoor environmental conditions in manufacturing facilities, warehouses, and other industrial structures. HVAC systems in industrial settings often require higher capacities and more robust designs than those used in commercial or residential applications. Bulk materials handling, heavy machinery operation, and large workforces create unique challenges for HVAC systems in industrial environments. Comfort and energy efficiency are essential considerations, but industrial HVAC systems must also be able to withstand harsh conditions and integrate with other industrial systems. Progammable controllers and automation technologies are increasingly important in industrial HVAC systems to optimize performance and reduce energy consumption. The HVAC market for industrial applications is expected to grow significantly due to increasing demand for energy-efficient systems and the expansion of industries in developing countries.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• Process Industry
• Discrete Industry
• Type
• HVAC Equipment
• HVAC Services
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Infiniti Research, Inc.