Asia Pacific HVAC System Market Forecast to 2030 – Regional Analysis – by Component (Thermostat, Air Handling Units, Central ACs, Furnace, Heat Pump, Compressor, and Others), Type (Split system, Ductless system, and Packaged system), Implementation (New Installation, and Retrofit), and Application (Residential, Commercial, and Industrial)
The Asia Pacific HVAC system market was valued at US$ 77,255.30 million in 2022 and is expected to reach US$ 2,00,636.44 million by 2030; it is estimated to grow at a CAGR of 12.7% from 2022 to 2030.
Integration of IoT into HVAC systems Fuels the Asia Pacific HVAC System Market.
Energy efficiency can be hard to monitor and improve with older HVAC systems. Generally, energy usage data is only discovered after it has been used, making it challenging to rectify or make up for. Additionally, if a system has a developing issue, it could struggle for days or weeks before failing entirely, wasting additional energy. IoT sensors installed on HVAC equipment can increase energy efficiency by monitoring usage trends and even considering weather predictions as they provide access to real-time data. The end effect is improved interior climate management with little electricity use. HVAC systems can be a significant component of IoT-enabled smart grid connectivity. IoT technology makes remote system monitoring possible, allowing users to identify issues from a distance by consulting a smartphone app or online portal. For Instance, some sensors track vital information, such as pressure, vibration, flow, temperature, humidity, on-off cycles, and fault tolerance for providing leak detection information. Technicians can easily access the insights they need to get into systems’ status and accordingly provide the solution to fix any malfunction. Most HVAC companies have a compulsory requirement for regulatory compliance, frequently requiring a field agent to inspect equipment regularly. It is challenging to accomplish and record such compliance with disconnected systems with no integration of IoT, which needs lots of paperwork and physical system checks to prove the adherence to compliance standards. Thus, the integration of IoT into HVAC systems is the key trend in the market, which is likely to boost the demand for HVAC systems.
Asia Pacific HVAC System Market Overview
Asia Pacific consists of several developed economies, such as Japan, Australia, and emerging economies like China, India, and others. HVAC industry growth in Asia Pacific is largely attributed to increasing urbanization, rising population growth especially in the Asia Pacific region and government regulations for creating the HVAC systems more energy efficient. The APAC region is witnessing a growth in numerous real estate projects and public-private investments in several industrial, residential, and commercial development areas due to the rise in urbanization. The need for HVAC services in the residential sector is mostly driven by new installations brough on by Asia Pacific region. Due to increased building and development projects, air conditioner penetration is rising throughout Southeast Asia nations including Vietnam, Thailand, Indonesia, Malaysia, the Philippines, and China.
Asia Pacific HVAC System Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific HVAC System Market Segmentation
The Asia Pacific HVAC system market is segmented based on component, type, implementation, application, and country. Based on component, the Asia Pacific HVAC system market is segmented into thermostat, air handling units, central ACs, furnace, heat pump, compressor, and others. The central ACs segment held the largest market share in 2022.
Based on type, the Asia Pacific HVAC system market is segmented into split system, ductless system, and packaged system. The split system segment held the largest market share in 2022.
Based on application, the Asia Pacific HVAC system market is segmented into residential, commercial, and industrial. The residential segment held a larger market share in 2022.
Based on implementation, the Asia Pacific HVAC system market is segmented into new installation and retrofit. The new installation segment held a larger market share in 2022.
Based on country, the Asia Pacific HVAC system market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC. China dominated the Asia Pacific HVAC system market share in 2022.
Blue Star Ltd, Mitsubishi Electric Corp, Hitachi Ltd, Daikin Industries Ltd, Emerson Electric Co, Honeywell International Inc, LG Electric Inc, Carrier Global Corp, and Johnson Controls Inc are some of the leading companies operating in the Asia Pacific HVAC system market.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific HVAC Controls Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in The Value Chain
5. Asia Pacific HVAC Controls Market - Key Industry Dynamics
5.1 Asia Pacific HVAC Controls Market - Key Industry Dynamics
5.2 Market Drivers
5.2.1 Growth in Construction Sector
5.2.2 Implementation of Smart, Connected, and Energy Efficient IOT-enabled HVAC Systems
5.3 Market Restraints
5.3.1 High Cost and Technical complexities
5.4 Market Opportunities
5.4.1 Rising Adoption of Cloud Computing in HVAC
5.4.2 Development of Smart Cities
5.5 Future Trends
5.5.1 Advancement in Green Technology
5.6 Impact of Drivers and Restraints:
6. HVAC Controls Market – Asia Pacific Market Analysis
6.1 Asia Pacific HVAC Controls Market Revenue (US$ Million), 2022 – 2030
6.2 Asia Pacific HVAC Controls Market Forecast and Analysis
7. Asia Pacific HVAC Controls Market Analysis - Component
7.1 Hardware
7.1.1 Overview
7.1.2 Hardware Market, Revenue and Forecast to 2030 (US$ Million)
7.1.3 Sensor
7.1.3.1 Overview
7.1.3.2 Sensor Market, Revenue and Forecast to 2030 (US$ Million)
7.1.4 Controllers
7.1.4.1 Overview
7.1.4.2 Controllers Market, Revenue and Forecast to 2030 (US$ Million)
7.1.5 Smart Vents
7.1.5.1 Overview
7.1.5.2 Smart Vents Market, Revenue and Forecast to 2030 (US$ Million)
7.1.6 Others
7.1.6.1 Overview
7.1.6.2 Others Market, Revenue and Forecast to 2030 (US$ Million)
7.2 Software & Services
7.2.1 Overview
7.2.2 Software & Services Market, Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific HVAC Controls Market Analysis - Installation Type
8.1 Retrofit
8.1.1 Overview
8.1.2 Retrofit Market Revenue, and Forecast to 2030 (US$ Million)
8.2 New Installation
8.2.1 Overview
8.2.2 New Installation Market Revenue, and Forecast to 2030 (US$ Million)
9. Asia Pacific HVAC Controls Market Analysis - System
9.1 Temperature Control System
9.1.1 Overview
9.1.2 Temperature Control System Market Revenue, and Forecast to 2030 (US$ Million)
9.2 Integrated Control System
9.2.1 Overview
9.2.2 Integrated Control System Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Ventilation Control System
9.3.1 Overview
9.3.2 Ventilation Control System Market Revenue, and Forecast to 2030 (US$ Million)
9.4 Humidity Control System
9.4.1 Overview
9.4.2 Humidity Control System Market Revenue, and Forecast to 2030 (US$ Million)
10. Asia Pacific HVAC Controls Market Analysis – End User
10.1 Commercial
10.1.1 Overview
10.1.2 Commercial Market Revenue, and Forecast to 2030 (US$ Million)
10.2 Industrial
10.2.1 Overview
10.2.2 Industrial Market Revenue, and Forecast to 2030 (US$ Million)
10.3 Residential
10.3.1 Overview
10.3.2 Residential Market Revenue, and Forecast to 2030 (US$ Million)
11. Asia Pacific HVAC Controls Market - Country Analysis
11.1 Overview
11.1.1 Asia Pacific HVAC Controls Market Revenue and Forecasts and Analysis - By Country
11.1.1.1 Asia Pacific HVAC Controls Market Revenue and Forecasts and Analysis - By Country
11.1.1.2 China HVAC Controls Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.1.2.1 China HVAC Controls Market Breakdown by Component
11.1.1.2.1.1 China HVAC Controls Market Breakdown by Hardware
11.1.1.2.2 China HVAC Controls Market Breakdown by Installation Type
11.1.1.2.3 China HVAC Controls Market Breakdown by System
11.1.1.2.4 China HVAC Controls Market Breakdown by End User
11.1.1.3 Japan HVAC Controls Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.1.3.1 Japan HVAC Controls Market Breakdown by Component
11.1.1.3.1.1 Japan HVAC Controls Market Breakdown by Hardware
11.1.1.3.2 Japan HVAC Controls Market Breakdown by Installation Type
11.1.1.3.3 Japan HVAC Controls Market Breakdown by System
11.1.1.3.4 Japan HVAC Controls Market Breakdown by End User
11.1.1.4 South Korea HVAC Controls Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.1.4.1 South Korea HVAC Controls Market Breakdown by Component
11.1.1.4.1.1 South Korea HVAC Controls Market Breakdown by Hardware
11.1.1.4.2 South Korea HVAC Controls Market Breakdown by Installation Type
11.1.1.4.3 South Korea HVAC Controls Market Breakdown by System
11.1.1.4.4 South Korea HVAC Controls Market Breakdown by End User
11.1.1.5 India HVAC Controls Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.1.5.1 India HVAC Controls Market Breakdown by Component
11.1.1.5.1.1 India HVAC Controls Market Breakdown by Hardware
11.1.1.5.2 India HVAC Controls Market Breakdown by Installation Type
11.1.1.5.3 India HVAC Controls Market Breakdown by System
11.1.1.5.4 India HVAC Controls Market Breakdown by End User
11.1.1.6 Australia HVAC Controls Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.1.6.1 Australia HVAC Controls Market Breakdown by Component
11.1.1.6.1.1 Australia HVAC Controls Market Breakdown by Hardware
11.1.1.6.2 Australia HVAC Controls Market Breakdown by Installation Type
11.1.1.6.3 Australia HVAC Controls Market Breakdown by System
11.1.1.6.4 Australia HVAC Controls Market Breakdown by End User
11.1.1.7 Rest of Asia Pacific HVAC Controls Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.1.7.1 Rest of Asia Pacific HVAC Controls Market Breakdown by Component
11.1.1.7.1.1 Rest of Asia Pacific HVAC Controls Market Breakdown by Hardware
11.1.1.7.2 Rest of Asia Pacific HVAC Controls Market Breakdown by Installation Type
11.1.1.7.3 Rest of Asia Pacific HVAC Controls Market Breakdown by System
11.1.1.7.4 Rest of Asia Pacific HVAC Controls Market Breakdown by End User
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration
13. Industry Landscape
13.1 Overview
13.2 Market Initiatives
13.3 New Product Development
13.4 Merger and Acquisition
14. Company Profiles
14.1 Carrier Global Corporation
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 DAIKIN INDUSTRIES, Ltd.
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Delta Controls
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Acuity Brands, Inc.
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Emerson Electric Co.
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Honeywell International Inc.
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Johnson Controls, Inc.
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Schneider Electric SE
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Siemens AG
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Lennox International Inc.
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About the Insight Partners
15.2 Word Index
LIST OF TABLES
Table 1. Asia Pacific HVAC Controls Market Segmentation
Table 2. Asia Pacific HVAC Controls Market Revenue and Forecasts To 2030 (US$ Million)
Table 3. Asia Pacific HVAC Controls Market Revenue and Forecasts To 2030 (US$ Million) – Component
Table 4. Asia Pacific HVAC Controls Market Revenue and Forecasts To 2030 (US$ Million) – Installation Type
Table 5. Asia Pacific HVAC Controls Market Revenue and Forecasts To 2030 (US$ Million) – System
Table 6. Asia Pacific HVAC Controls Market Revenue and Forecasts To 2030 (US$ Million) – End User
Table 7. Asia Pacific HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 8. China HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 9. China HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 10. China HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation Type
Table 11. China HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 12. China HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 13. Japan HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 14. Japan HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 15. Japan HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation Type
Table 16. Japan HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 17. Japan HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 18. South Korea HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 19. South Korea HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 20. South Korea HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation Type
Table 21. South Korea HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 22. South Korea HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 23. India HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 24. India HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 25. India HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation Type
Table 26. India HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 27. India HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 28. Australia HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 29. Australia HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 30. Australia HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation Type
Table 31. Australia HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 32. Australia HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 33. Rest of Asia Pacific HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 34. Rest of Asia Pacific HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Hardware
Table 35. Rest of Asia Pacific HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation Type
Table 36. Rest of Asia Pacific HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By System
Table 37. Rest of Asia Pacific HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 38. Heat Map Analysis by Key Players
Table 39. List of Abbreviation
LIST OF FIGURES
Figure 1. Asia Pacific HVAC Controls Market Segmentation, By Country
Figure 2. Ecosystem: Asia Pacific HVAC Controls Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Asia Pacific HVAC Controls Market Revenue (US$ Million), 2022 – 2030
Figure 5. Asia Pacific HVAC Controls Market Share (%) – Component, 2022 and 2030
Figure 6. Hardware Market Revenue and Forecasts To 2030 (US$ Million)
Figure 7. Sensor Market Revenue and Forecasts To 2030 (US$ Million)
Figure 8. Controllers Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9. Smart Vents Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. Software & Services Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. Asia Pacific HVAC Controls Market Share (%) – Installation Type, 2022 and 2030
Figure 13. Retrofit Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. New Installation Market Revenue and Forecasts To 2030 (US$ Million)
Figure 15. Asia Pacific HVAC Controls Market Share (%) – System, 2022 and 2030
Figure 16. Temperature Control System Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. Integrated Control System Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. Ventilation Control System Market Revenue and Forecasts To 2030 (US$ Million)
Figure 19. Humidity Control System Market Revenue and Forecasts To 2030 (US$ Million)
Figure 20. Asia Pacific HVAC Controls Market Share (%) – End User, 2022 and 2030
Figure 21. Commercial Market Revenue and Forecasts To 2030 (US$ Million)
Figure 22. Industrial Market Revenue and Forecasts To 2030 (US$ Million)
Figure 23. Residential Market Revenue and Forecasts To 2030 (US$ Million)
Figure 24. HVAC Controls Market by Key Countries – Revenue (2022) (US$ Million)
Figure 25. HVAC Controls Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 26. China HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 27. Japan HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 28. South Korea HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 29. India HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 30. Australia HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 31. Rest of Asia Pacific HVAC Controls Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 32. Company Positioning & Concentration
- Mitsubishi Electric Corp
- Blue Star Ltd
- Hitachi Ltd
- Daikin Industries Ltd
- Emerson Electric Co
- Honeywell International Inc
- LG Electric Inc
- Carrier Global Corp
- Johnson Controls Inc
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific HVAC system market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific HVAC system market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific HVAC system market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution