Activities of industry participants highlight key challenges faced by them and concurrent growth strategies adopted. These players under the stress of market saturation and low profit margins in the developed markets of North America and Europe are now focusing on emerging economies of Asia Pacific and Latin America. Moreover, the binding effect of different environmental protocols/treaties is pushing the need to develop environment friendly equipments, which require heavy investment in research and development activities. This has poised capital challenges for new entrants to the market.
Analysis of the global HVAC equipment market based on different components identifies cooling units as a dominant segment. Control systems segment is expected to see CAGR of 6.9% for the period 2012 – 2018. This growth is supported by increased usage and demand of control devices from manufacturers. Manufacturers in order to meet changing consumer behavior are developing smart solutions which are then incorporated in new equipments, so as to make them more efficient and responsive to consumer requirements. This has dual impact as it not only generates demand for new equipments but also replacement demand for the obsolete and inefficient equipments.
Analysis of the global HVAC equipment market based on different components identifies cooling units as a dominant segment. Control systems segment is expected to see CAGR of 6.9% for the period 2012 – 2018. This growth is supported by increased usage and demand of control devices from manufacturers. Manufacturers in order to meet changing consumer behavior are developing smart solutions which are then incorporated in new equipments, so as to make them more efficient and responsive to consumer requirements. This has dual impact as it not only generates demand for new equipments but also replacement demand for the obsolete and inefficient equipments.
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