The HVAC equipment manufacturing industry include companies offering manufacturing ventilating, heating, air-conditioning, and commercial and industrial refrigeration and freezer equipment. HVAC system consist of interconnected mechanical systems that provide thermal comfort and air quality in an indoor facility.
The top five companies covered are United Technologies Corporation, Daikin Industries Ltd, Johnson Controls, Inc., Ingersoll-Rand PLC and Bosch Group. United Technologies Corporation was the largest company in the market.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
The global ventilation, heating, air-conditioning, and commercial refrigeration equipment manufacturing market was valued at around $288 billion in 2017. Western Europe was the largest region in the ventilation, heating, air-conditioning, and commercial refrigeration equipment manufacturing market in 2017, accounting for around 36% market share. USA was the largest country in the market in 2017, accounting for around 16% market share.
The HVAC companies are increasingly integrating IoT technology with HVAC equipment due to growing demand for real time insights from HVAC equipment. The internet of things is the inter-networking of physical devices embedded with software, sensors and network connectivity which enable these objects to collect and exchange data. Using IoT, HVAC systems are closely monitored and controlled from remote locations.