Commercial HVAC Market Outlook, Segments, Geography, Developments, and Strategic Insights by 2031

Coverage: Commercial HVAC Market covers analysis by Heating (Heat pumps, Furnaces, Space heaters, Boilers); Cooling (Room unitary air conditioners, Chillers, VRF systems, Coolers, Others); Ventilation (Air filters, Air purifiers, Centrifugal fans, Roof vent, Ventilation fan, Air handling unit, Others); Implementation (New installation, Retrofit) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00011156
  • Category : Manufacturing and Construction
  • No. of Pages : 150
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Commercial HVAC Market Size (2021-2031) and Regional Overview

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The Commercial HVAC Market is expected to register a CAGR of 8.7% from 2023 to 2031, with a market size expanding from US$ XX Million in 2023 to US$ XX Million by 2031.

Commercial HVAC market report studies market drivers like commercial real estate growth, energy efficiency, and HVAC innovations. It has separated HVAC by heating, ventilation, cooling, implementation, and regions in the report. Details of market leaders, their strategies, and market size (in US$) are included. Trends to come like the use of smart HVAC and sustainable practices are also discussed.

Purpose of the Report

The report Commercial HVAC Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:

  • Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
  • Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
  • Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.

Commercial HVAC Market Segmentation

Heating
  • Heat pumps
  • Furnaces
  • Space heaters
  • Boilers
Cooling
  • Room unitary air conditioners
  • Chillers
  • VRF systems
  • Coolers
Ventilation
  • Air filters
  • Air purifiers
  • Centrifugal fans
  • Roof vent
  • Ventilation fan
  • Air handling unit
Implementation
  • New installation
  • Retrofit
Implementation
  • New installation
  • Retrofit

Strategic Insights

Commercial HVAC Market Growth Drivers
  • Increasing Demand for Energy-Efficient Solutions: The commercial HVAC market is also growing fast because the market requires more energy efficient products. Businesses and commercial buildings want to cut operating costs and carbon emissions, so efficient HVAC systems are in great demand. These help reduce the energy use, the maintenance and increase sustainability.
  • Advanced Technologies: Technology developments such as smart thermostats and variable refrigerant flow systems improving HVAC performance which is increasing the demand for the market.
  • Stringent Government Regulations and Standards: Energy efficiency and environmental sustainability regulations by the government are driving the HVAC market. The rules encourage companies to install HVAC systems that meet Energy Star guidelines and green refrigerants. With a rise in green building awards, like LEED, commercial space adoption of advanced HVAC systems is helping commercial HVAC market growth.
Commercial HVAC Market Future Trends
  • Integration of IoT and Smart HVAC Products:
    The IoT-integration of HVAC units is one of the hottest trends in the commercial HVAC industry. Smart HVAC (Remote Monitoring, Automated Adjustment, Predictive Maintenance) will change the way the industry is being transformed.
  • Less Downtime: IoT solutions are controllable and easier than ever, which will make your systems run more efficiently, spend less time downtime, and save more energy. This will create market demand because more and more businesses are opting for advanced HVAC to control their energy.
  • Progressively Increasing Use of Renewable Energy in HVAC Units:
    Solar and geothermal power are among the newer types of energy in HVAC units in businesses. This is motivated by the demand for sustainability and lower energy bills. Renewable energy HVACs are not only green, but also help companies cut their dependency on traditional power to save money and reduce emissions in the long term. Once this pattern picks up, it will greatly impact the HVAC market growth.
  • Adoption of Green and Sustainable HVAC Solutions: There's a growing trend towards adopting green HVAC solutions, such as systems that use renewable energy sources (e.g., solar energy for HVAC systems) and low global warming potential (GWP) refrigerants.
Commercial HVAC Market Opportunities
  • Expanding Construction Activities in New Markets: Commercial HVAC Market growth has closely intertwined with the building construction boom especially in new markets. As infrastructure development in Asia-Pacific, Latin America, and the Middle East briskly speeds up, commercial building HVAC systems need to be highly effective and reliable. This is profitable for HVAC vendors to gain market share in these areas by catering to new office towers, commercial buildings, and retail stores.
  • Technological Advancements in HVAC Equipment: HVAC is in constant evolution, which gives many possibilities to market participants. Air purification, HVAC automation, and heat pumps are some areas where the market has room for expansion. Companies now require systems that provide more performance, less energy, and more comfort. Those that can implement the latest technology in their HVAC systems have an edge to grow with the rising market, both in mature markets and in emerging markets.
  • HVAC as a Service (HVACaaS): The emergence of HVAC-as-a-Service (HVACaaS), which offers HVAC systems on a subscription basis with maintenance included, is becoming an attractive option for businesses looking to reduce upfront capital expenditure.

Market Report Scope

Key Selling Points

  • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Commercial HVAC Market, providing a holistic landscape.
  • Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
  • Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
  • Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.

The research report on the Commercial HVAC Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.

REGIONAL FRAMEWORK
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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

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to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

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to country scope.

Frequently Asked Questions


What are the options available for the customization of this report?

Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.

What are the deliverable formats of the Commercial HVAC market report?

The report can be delivered in PDF/PPT format; we can also share an Excel dataset based on the request.

Which are key players in the Commercial HVAC market?

Emerson Electric Co, Goodman Manufacturing Company L P, Daikin Industries Ltd, Hitachi Ltd, Honeywell International Ltd, Johnson Controls International plc, LG Electronics Inc, Lennox International Inc, Samsung Electronics, Trace Technologies are key players in this market

What are the future trends in Commercial HVAC Market?

Future trends in the commercial HVAC space include IoT for smarter, energy-efficient HVAC systems and adoption of renewable energy like solar and geothermal for green HVAC systems.

What is expected CAGR in the Commercial HVAC Market?

The market is expected to register a CAGR of 8.7% during 2023–2031.

What are the factors impacting on the Commercial HVAC Market growth?

The commercial HVAC market is fuelled by increasing needs for efficient HVAC units to save money and energy as well as rigorous government mandates focusing on sustainability, efficiency, and green refrigerants.

TABLE OF CONTENTS

1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Commercial HVAC Market - By Heating
1.3.2 Commercial HVAC Market - By Cooling
1.3.3 Commercial HVAC Market - By Ventilation
1.3.4 Commercial HVAC Market - By Implementation
1.3.5 Commercial HVAC Market - By Region
1.3.5.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. COMMERCIAL HVAC MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS

5. COMMERCIAL HVAC MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS

6. COMMERCIAL HVAC MARKET - GLOBAL MARKET ANALYSIS
6.1. COMMERCIAL HVAC - GLOBAL MARKET OVERVIEW
6.2. COMMERCIAL HVAC - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE

7. COMMERCIAL HVAC MARKET - REVENUE AND FORECASTS TO 2028 - HEATING
7.1. OVERVIEW
7.2. HEATING MARKET FORECASTS AND ANALYSIS
7.3. HEAT PUMPS
7.3.1. Overview
7.3.2. Heat pumps Market Forecast and Analysis
7.4. FURNACES
7.4.1. Overview
7.4.2. Furnaces Market Forecast and Analysis
7.5. SPACE HEATERS
7.5.1. Overview
7.5.2. Space heaters Market Forecast and Analysis
7.6. BOILERS
7.6.1. Overview
7.6.2. Boilers Market Forecast and Analysis
8. COMMERCIAL HVAC MARKET - REVENUE AND FORECASTS TO 2028 - COOLING
8.1. OVERVIEW
8.2. COOLING MARKET FORECASTS AND ANALYSIS
8.3. ROOM UNITARY AIR CONDITIONERS
8.3.1. Overview
8.3.2. Room unitary air conditioners Market Forecast and Analysis
8.4. CHILLERS
8.4.1. Overview
8.4.2. Chillers Market Forecast and Analysis
8.5. VRF SYSTEMS
8.5.1. Overview
8.5.2. VRF systems Market Forecast and Analysis
8.6. COOLERS
8.6.1. Overview
8.6.2. Coolers Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. COMMERCIAL HVAC MARKET - REVENUE AND FORECASTS TO 2028 - VENTILATION
9.1. OVERVIEW
9.2. VENTILATION MARKET FORECASTS AND ANALYSIS
9.3. AIR FILTERS
9.3.1. Overview
9.3.2. Air filters Market Forecast and Analysis
9.4. AIR PURIFIERS
9.4.1. Overview
9.4.2. Air purifiers Market Forecast and Analysis
9.5. CENTRIFUGAL FANS
9.5.1. Overview
9.5.2. Centrifugal fans Market Forecast and Analysis
9.6. ROOF VENT
9.6.1. Overview
9.6.2. Roof vent Market Forecast and Analysis
9.7. VENTILATION FAN
9.7.1. Overview
9.7.2. Ventilation fan Market Forecast and Analysis
9.8. AIR HANDLING UNIT
9.8.1. Overview
9.8.2. Air handling unit Market Forecast and Analysis
9.9. OTHERS
9.9.1. Overview
9.9.2. Others Market Forecast and Analysis
10. COMMERCIAL HVAC MARKET - REVENUE AND FORECASTS TO 2028 - IMPLEMENTATION
10.1. OVERVIEW
10.2. IMPLEMENTATION MARKET FORECASTS AND ANALYSIS
10.3. NEW INSTALLATION
10.3.1. Overview
10.3.2. New installation Market Forecast and Analysis
10.4. RETROFIT
10.4.1. Overview
10.4.2. Retrofit Market Forecast and Analysis

11. COMMERCIAL HVAC MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Commercial HVAC Market Overview
11.1.2 North America Commercial HVAC Market Forecasts and Analysis
11.1.3 North America Commercial HVAC Market Forecasts and Analysis - By Heating
11.1.4 North America Commercial HVAC Market Forecasts and Analysis - By Cooling
11.1.5 North America Commercial HVAC Market Forecasts and Analysis - By Ventilation
11.1.6 North America Commercial HVAC Market Forecasts and Analysis - By Implementation
11.1.7 North America Commercial HVAC Market Forecasts and Analysis - By Countries
11.1.7.1 United States Commercial HVAC Market
11.1.7.1.1 United States Commercial HVAC Market by Heating
11.1.7.1.2 United States Commercial HVAC Market by Cooling
11.1.7.1.3 United States Commercial HVAC Market by Ventilation
11.1.7.1.4 United States Commercial HVAC Market by Implementation
11.1.7.2 Canada Commercial HVAC Market
11.1.7.2.1 Canada Commercial HVAC Market by Heating
11.1.7.2.2 Canada Commercial HVAC Market by Cooling
11.1.7.2.3 Canada Commercial HVAC Market by Ventilation
11.1.7.2.4 Canada Commercial HVAC Market by Implementation
11.1.7.3 Mexico Commercial HVAC Market
11.1.7.3.1 Mexico Commercial HVAC Market by Heating
11.1.7.3.2 Mexico Commercial HVAC Market by Cooling
11.1.7.3.3 Mexico Commercial HVAC Market by Ventilation
11.1.7.3.4 Mexico Commercial HVAC Market by Implementation
11.2. EUROPE
11.2.1 Europe Commercial HVAC Market Overview
11.2.2 Europe Commercial HVAC Market Forecasts and Analysis
11.2.3 Europe Commercial HVAC Market Forecasts and Analysis - By Heating
11.2.4 Europe Commercial HVAC Market Forecasts and Analysis - By Cooling
11.2.5 Europe Commercial HVAC Market Forecasts and Analysis - By Ventilation
11.2.6 Europe Commercial HVAC Market Forecasts and Analysis - By Implementation
11.2.7 Europe Commercial HVAC Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Commercial HVAC Market
11.2.7.1.1 Germany Commercial HVAC Market by Heating
11.2.7.1.2 Germany Commercial HVAC Market by Cooling
11.2.7.1.3 Germany Commercial HVAC Market by Ventilation
11.2.7.1.4 Germany Commercial HVAC Market by Implementation
11.2.7.2 France Commercial HVAC Market
11.2.7.2.1 France Commercial HVAC Market by Heating
11.2.7.2.2 France Commercial HVAC Market by Cooling
11.2.7.2.3 France Commercial HVAC Market by Ventilation
11.2.7.2.4 France Commercial HVAC Market by Implementation
11.2.7.3 Italy Commercial HVAC Market
11.2.7.3.1 Italy Commercial HVAC Market by Heating
11.2.7.3.2 Italy Commercial HVAC Market by Cooling
11.2.7.3.3 Italy Commercial HVAC Market by Ventilation
11.2.7.3.4 Italy Commercial HVAC Market by Implementation
11.2.7.4 United Kingdom Commercial HVAC Market
11.2.7.4.1 United Kingdom Commercial HVAC Market by Heating
11.2.7.4.2 United Kingdom Commercial HVAC Market by Cooling
11.2.7.4.3 United Kingdom Commercial HVAC Market by Ventilation
11.2.7.4.4 United Kingdom Commercial HVAC Market by Implementation
11.2.7.5 Russia Commercial HVAC Market
11.2.7.5.1 Russia Commercial HVAC Market by Heating
11.2.7.5.2 Russia Commercial HVAC Market by Cooling
11.2.7.5.3 Russia Commercial HVAC Market by Ventilation
11.2.7.5.4 Russia Commercial HVAC Market by Implementation
11.2.7.6 Rest of Europe Commercial HVAC Market
11.2.7.6.1 Rest of Europe Commercial HVAC Market by Heating
11.2.7.6.2 Rest of Europe Commercial HVAC Market by Cooling
11.2.7.6.3 Rest of Europe Commercial HVAC Market by Ventilation
11.2.7.6.4 Rest of Europe Commercial HVAC Market by Implementation
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Commercial HVAC Market Overview
11.3.2 Asia-Pacific Commercial HVAC Market Forecasts and Analysis
11.3.3 Asia-Pacific Commercial HVAC Market Forecasts and Analysis - By Heating
11.3.4 Asia-Pacific Commercial HVAC Market Forecasts and Analysis - By Cooling
11.3.5 Asia-Pacific Commercial HVAC Market Forecasts and Analysis - By Ventilation
11.3.6 Asia-Pacific Commercial HVAC Market Forecasts and Analysis - By Implementation
11.3.7 Asia-Pacific Commercial HVAC Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Commercial HVAC Market
11.3.7.1.1 Australia Commercial HVAC Market by Heating
11.3.7.1.2 Australia Commercial HVAC Market by Cooling
11.3.7.1.3 Australia Commercial HVAC Market by Ventilation
11.3.7.1.4 Australia Commercial HVAC Market by Implementation
11.3.7.2 China Commercial HVAC Market
11.3.7.2.1 China Commercial HVAC Market by Heating
11.3.7.2.2 China Commercial HVAC Market by Cooling
11.3.7.2.3 China Commercial HVAC Market by Ventilation
11.3.7.2.4 China Commercial HVAC Market by Implementation
11.3.7.3 India Commercial HVAC Market
11.3.7.3.1 India Commercial HVAC Market by Heating
11.3.7.3.2 India Commercial HVAC Market by Cooling
11.3.7.3.3 India Commercial HVAC Market by Ventilation
11.3.7.3.4 India Commercial HVAC Market by Implementation
11.3.7.4 Japan Commercial HVAC Market
11.3.7.4.1 Japan Commercial HVAC Market by Heating
11.3.7.4.2 Japan Commercial HVAC Market by Cooling
11.3.7.4.3 Japan Commercial HVAC Market by Ventilation
11.3.7.4.4 Japan Commercial HVAC Market by Implementation
11.3.7.5 South Korea Commercial HVAC Market
11.3.7.5.1 South Korea Commercial HVAC Market by Heating
11.3.7.5.2 South Korea Commercial HVAC Market by Cooling
11.3.7.5.3 South Korea Commercial HVAC Market by Ventilation
11.3.7.5.4 South Korea Commercial HVAC Market by Implementation
11.3.7.6 Rest of Asia-Pacific Commercial HVAC Market
11.3.7.6.1 Rest of Asia-Pacific Commercial HVAC Market by Heating
11.3.7.6.2 Rest of Asia-Pacific Commercial HVAC Market by Cooling
11.3.7.6.3 Rest of Asia-Pacific Commercial HVAC Market by Ventilation
11.3.7.6.4 Rest of Asia-Pacific Commercial HVAC Market by Implementation
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Commercial HVAC Market Overview
11.4.2 Middle East and Africa Commercial HVAC Market Forecasts and Analysis
11.4.3 Middle East and Africa Commercial HVAC Market Forecasts and Analysis - By Heating
11.4.4 Middle East and Africa Commercial HVAC Market Forecasts and Analysis - By Cooling
11.4.5 Middle East and Africa Commercial HVAC Market Forecasts and Analysis - By Ventilation
11.4.6 Middle East and Africa Commercial HVAC Market Forecasts and Analysis - By Implementation
11.4.7 Middle East and Africa Commercial HVAC Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Commercial HVAC Market
11.4.7.1.1 South Africa Commercial HVAC Market by Heating
11.4.7.1.2 South Africa Commercial HVAC Market by Cooling
11.4.7.1.3 South Africa Commercial HVAC Market by Ventilation
11.4.7.1.4 South Africa Commercial HVAC Market by Implementation
11.4.7.2 Saudi Arabia Commercial HVAC Market
11.4.7.2.1 Saudi Arabia Commercial HVAC Market by Heating
11.4.7.2.2 Saudi Arabia Commercial HVAC Market by Cooling
11.4.7.2.3 Saudi Arabia Commercial HVAC Market by Ventilation
11.4.7.2.4 Saudi Arabia Commercial HVAC Market by Implementation
11.4.7.3 U.A.E Commercial HVAC Market
11.4.7.3.1 U.A.E Commercial HVAC Market by Heating
11.4.7.3.2 U.A.E Commercial HVAC Market by Cooling
11.4.7.3.3 U.A.E Commercial HVAC Market by Ventilation
11.4.7.3.4 U.A.E Commercial HVAC Market by Implementation
11.4.7.4 Rest of Middle East and Africa Commercial HVAC Market
11.4.7.4.1 Rest of Middle East and Africa Commercial HVAC Market by Heating
11.4.7.4.2 Rest of Middle East and Africa Commercial HVAC Market by Cooling
11.4.7.4.3 Rest of Middle East and Africa Commercial HVAC Market by Ventilation
11.4.7.4.4 Rest of Middle East and Africa Commercial HVAC Market by Implementation
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Commercial HVAC Market Overview
11.5.2 South and Central America Commercial HVAC Market Forecasts and Analysis
11.5.3 South and Central America Commercial HVAC Market Forecasts and Analysis - By Heating
11.5.4 South and Central America Commercial HVAC Market Forecasts and Analysis - By Cooling
11.5.5 South and Central America Commercial HVAC Market Forecasts and Analysis - By Ventilation
11.5.6 South and Central America Commercial HVAC Market Forecasts and Analysis - By Implementation
11.5.7 South and Central America Commercial HVAC Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Commercial HVAC Market
11.5.7.1.1 Brazil Commercial HVAC Market by Heating
11.5.7.1.2 Brazil Commercial HVAC Market by Cooling
11.5.7.1.3 Brazil Commercial HVAC Market by Ventilation
11.5.7.1.4 Brazil Commercial HVAC Market by Implementation
11.5.7.2 Argentina Commercial HVAC Market
11.5.7.2.1 Argentina Commercial HVAC Market by Heating
11.5.7.2.2 Argentina Commercial HVAC Market by Cooling
11.5.7.2.3 Argentina Commercial HVAC Market by Ventilation
11.5.7.2.4 Argentina Commercial HVAC Market by Implementation
11.5.7.3 Rest of South and Central America Commercial HVAC Market
11.5.7.3.1 Rest of South and Central America Commercial HVAC Market by Heating
11.5.7.3.2 Rest of South and Central America Commercial HVAC Market by Cooling
11.5.7.3.3 Rest of South and Central America Commercial HVAC Market by Ventilation
11.5.7.3.4 Rest of South and Central America Commercial HVAC Market by Implementation

12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS

13. COMMERCIAL HVAC MARKET, KEY COMPANY PROFILES
13.1. EMERSON ELECTRIC CO.
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. GOODMAN MANUFACTURING COMPANY, L.P. (DAIKIN INDUSTRIES, LTD.)
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. HITACHI LTD.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. HONEYWELL INTERNATIONAL LTD.
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. JOHNSON CONTROLS INTERNATIONAL PLC
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. LG ELECTRONICS INC.
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. LENNOX INTERNATIONAL, INC.
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. SAMSUNG ELECTRONICS
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. TRACE TECHNOLOGIES
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. UNITED TECHNOLOGIES CORPORATION
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments

14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
The List of Companies

1. Emerson Electric Co.
2. Goodman Manufacturing Company, L.P. (Daikin Industries, Ltd.)
3. Hitachi Ltd.
4. Honeywell International Ltd.
5. Johnson Controls International plc
6. LG Electronics Inc.
7. Lennox International, Inc.
8. Samsung Electronics
9. Trace Technologies
10. United Technologies Corporation

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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