Global HVAC Aftermarket Market

Global HVAC Aftermarket Market by Heating Equipment (Heat Pumps, Furnaces, Unitary Heaters, Thermostat and Boilers), By Ventilation Equipment (Air-Handling Units, Air Filters, Dehumidifiers, Ventilation Fans, Humidifiers, and Air Purifiers), By Cooling Equipment (Unitary Air Conditioners, VRF Systems, Chillers, Room Air Conditioners, Coolers, Cooling Towers), By HVAC Controllers(Sensors, and Controllers & Controlled Devices), By End-User(Residential and Non-Residential(Commercial and Industrial), and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

Global HVAC Aftermarket Market Overview:

HVAC Aftermarket refers to service parts the company regularly uses, whether they are replacement parts or upgrades. To satisfy distributors, contractors, and customers, many companies are beginning to strengthen their focus on service parts. Due to the advancement of intelligent technology, the HVAC market is facing an intelligent future. HVAC Aftermarket includes systems that OEMs provide a one-stop-shop for all of the requirements after the purchase of an HVAC System through distributors and suppliers.

Global HVAC Aftermarket Market Insights

Global HVAC aftermarket estimated to grow at a significant rate during the forecast period, 2020–2027. The primary factors, such as the high cost of HVAC equipment repair and replacement. Additionally, the incorporation of building automation systems projected to propel the growth of the global HVAC aftermarket in the future period. The rising demand for controllers in the HVAC aftermarket is supported by government regulations and need to achieve accuracy, comfort, and safety in controlling and monitoring indoor climates. Moreover, the shifting trend towards rising investment pertaining to smart home applications and energy-efficient technologies which are expected to foster the global market growth. Expanding the development of commercial buildings and urban areas, including hospitals, residential complexes, offices, and educational institutes, will positively impact the HVAC aftermarket.

Furthermore, the infrastructure spending for the refurbishment of residential establishments is rising across the developed nations and will propel the HVAC aftermarket demand globally. Demand for heating and cooling technologies due to hot climatic conditions will foster the HVAC aftermarket. Further, rising acceptance of advanced IoT enabled solutions are anticipated to enhance the thermostat demand. Also, the replacement of HVAC equipment is as cost intensive as the repairing of HVAC equipment, which will foster the growth of the HVAC aftermarket in the anticipated periods. The growing commercial and construction activities of smart homes coupled with the development of heating and cooling technologies for residential and industrial establishments, will simultaneously trigger the growth of HVAC aftermarket. Additionally, the growing initiatives by HVAC OEMs to create even better and easier ways of providing replacement and service parts to distributors and contractors are driving the growth of the market in the analysis period.

Growth Driver

The shift towards green technology

The global HVAC aftermarket will drive in the future due to the continuing adoption of green technology and smart solution by the residential user and commercial users. Stringent government regulations for the development of sustainable standards and building codes will boost industry growth. Further, consumer awareness towards energy management systems is increasing along with the rising demand for sustainable heating & cooling technologies.

The rise in incorporation of building automation systems

Building automation systems (BASs), which control and monitor the power, lighting, air conditioning, water supply, and drainage, fire protection, security, broadcasting, communication, and other equipment in the building to form a comprehensive system of computer control, management, and monitoring construction equipment automation system or building automation system.

The BAS technology has advanced further owing to its control, heating, and air conditioning system, to maintain the building, and to meet the requirements of the building by controlling the indoor temperature, humidity, and air quality. The requirements for the use of objects (for industrial buildings and laboratories) and provide users with a healthy and comfortable indoor environment.

Heating Equipment Segmental Analysis

Based on heating equipment, the global HVAC aftermarket classified into Heat Pumps, Furnaces, Unitary Heaters, Thermostat, and Boilers. The Heat Pumps segment held maximum HVAC Aftermarket market share in 2019. It is attributable to it is used to provide both heating and cooling and uses mechanical energy to remove heat from the air and move it either inside or outside.

The thermostat will be the fastest-growing segment in the forecast period. It is owing to the rising investment pertaining to smart home applications and energy-efficient technologies, which are expected to foster global market growth. Further, consumer awareness towards energy management systems is increasing along with the rising demand for sustainable heating & cooling technologies.

Ventilation Equipment Segmental Analysis

Based on ventilation equipment, the global HVAC aftermarket market segregated into air-handling units, air filters, dehumidifiers, ventilation fans, humidifiers, and air purifiers. The air-handling unit segment witnessed a higher revenue share in 2019 and likely to dominate the HVAC aftermarket market by 2027. It is primarily attributed to it is used to re-condition and circulate air and containing separate ventilators for supply and exhaust, heating coil, cooling coil, heating/cooling recovery system, air filter racks or chambers, sound attenuators, mixing chamber, and dampers.

The air filters will grow with a profitable growth rate in the estimated period. It is due to its applications for cleaning the air that circulates through the heating and cooling system.

Cooling Equipment Segmental Analysis

Based on cooling equipment, the global HVAC Aftermarket classified into Unitary Air Conditioners, VRF Systems, Chillers, Room Air Conditioners, Coolers, and Cooling Towers. VRF Systems segment will hold significant market revenue by 2027. It is owing to it is used for the preservation of food, chemicals, proteins, enzymes, and vaccines, and it is vastly demanded in various industries such as healthcare, manufacturing, food production, and transportation.

HVAC Controller Segmental Analysis

Based on the HVAC controller, the global HVAC aftermarket classified into Sensors and Controllers & Controlled Devices. The sensors segment holds the largest market share in 2019 and estimated to dominate the global market. The major factors are the surge in the use of controllers in residential, commercial, and industrial areas to maintain energy efficiency.

Controllers & Controlled Devices held a major share of the HVAC aftermarket in 2019, on account of the rising demand for building automation systems, along with the technological advancements associated with the HVAC control unit.

End-User Segmental Analysis

Based on end-user, the global HVAC aftermarket classified into Residential and Non-Residential (Commercial and Industrial). The non-residential segment will witness a lucrative growth by 2027. It is due to the growing demand for HVAC maintenance and repairs in the healthcare, corporate offices, educational institutions, manufacturing, and industrial buildings, and offices, and retail stores.

The residential segment captured the largest market share in 2019, owing to the huge surge in services, and the requirement of HVAC systems in developing nations, along with regular maintenance that can reduce energy consumption and costs.

Region Segmental Analysis

Based on geography, the global HVAC aftermarket market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America accounts for a significant share by 2027 in the HVAC aftermarket market. The growth in the region can be attributed to the presence of significant players, the high number of health-conscious consumers, and strict government regulation regarding pollution.

The Asia Pacific is projected to provide significant growth opportunities due to the growing disposable income, availability of cost-effective systems for more comfort, and rapid urbanization in developing economies like China, Japan, and India.

Competitor Analysis

Companies such as Carrier Corporation, Daikin Industries, Ingersoll-Rand, Johnson Controls, Nortek, LG Electronics, AB Electrolux, Emerson Electric, Bosch Thermotechnik, Fujitsu, Haier, Lennox International, Samsung, Siemens, and Vaillant Group are the key players in the Global HVAC Aftermarket.

Key Stakeholders

  • Market research and consulting firms
  • Industry associations
  • Global HVAC Aftermarket manufacturing firm & service providers
  • Research organizations and consulting companies
  • Organizations, associations, and alliances related to HVAC Aftermarket
  • Regulatory bodies
  • Suppliers
  • Retailers

The objective of the Research

  • Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
  • Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
  • Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
  • Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
  • The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.

Market Modelling

By Heating Equipment

  • Heat Pumps
  • Furnaces
  • Unitary Heaters
  • Thermostat
  • Boilers

By Ventilation Equipment

  • Air-Handling Units
  • Air Filters
  • Dehumidifiers
  • Ventilation Fans
  • Humidifiers
  • Air Purifiers

By Cooling Equipment

  • Unitary Air Conditioners
  • VRF Systems
  • Chillers
  • Room Air Conditioners
  • Coolers
  • Cooling Towers

By HVAC Controllers

  • Sensors
  • Controllers & Controlled Devices

By End-User

  • Residential
  • Non-Residential(Commercial and Industrial)

 By Region

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Global HVAC Aftermarket

Report Content

  1. Research Strategic Development
    • Market Modelling
    • Product Analysis
    • Market Trend and Economic Factors Analysis
    • Market Segmental Analysis
    • Geographical Mapping
    • Country Wise Segregation
  2. Research Methodology
    • Identification of Target Market
    • Data Acquisition
    • Refining of Data/ Data Transformations
    • Data Validation through Primary Techniques
    • Exploratory Data Analysis
    • Graphical Techniques/Analysis
    • Quantitative Techniques/Analysis
    • Visual Result/Presentation
  3. Executive Summary
  4. Market Insights
    • Economic Factor Analysis
      • Drivers
      • Trends
      • Opportunities
      • Challenges
    • Technological Landscape
    • Competitors & Product Analysis
    • Regulatory Framework
    • Company market share analysis, 2019
    • Porter’s Five forces analysis
    • New Investment Analysis
    • PESTEL Analysis
  5. Global HVAC Aftermarket Overview
    • Market Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Market Share & Forecast, 2016-2027
        • By Heating Equipment
          • Heat Pumps
          • Furnaces
          • Unitary Heaters
          • Thermostat
          • Boilers
        • By Ventilator Equipment
          • Air-Handling Units
          • Air Filters
          • Dehumidifiers
          • Ventilation Fans
          • Humidifiers
          • Air Purifiers
        • By Cooling Equipment
          • Unitary Air Conditioners
          • VRF Systems
          • Chillers
          • Room Air Conditioners
          • Coolers
          • Cooling Towers
        • By HVAC Controllers
          • Sensors
          • Controllers & Controlled Devices
        • By End-User
          • Residential
          • Non-Residential
            • Commercial
            • Industrial
          • By Region
            • North America
            • Europe
            • Asia Pacific
            • South America
            • Middle East & Africa
  1. North America HVAC Aftermarket Overview
    • North America HVAC Aftermarket Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • North America HVAC Aftermarket Share & Forecast, 2016-2027
        • By Heating Equipment
          • Heat Pumps
          • Furnaces
          • Unitary Heaters
          • Thermostat
          • Boilers
        • By Ventilator Equipment
          • Air-Handling Units
          • Air Filters
          • Dehumidifiers
          • Ventilation Fans
          • Humidifiers
          • Air Purifiers
        • By Cooling Equipment
          • Unitary Air Conditioners
          • VRF Systems
          • Chillers
          • Room Air Conditioners
          • Coolers
          • Cooling Towers
        • By HVAC Controllers
          • Sensors
          • Controllers & Controlled Devices
        • By End-User
          • Residential
          • Non-Residential
            • Commercial
            • Industrial
          • By Country
            • US
            • Canada
            • Mexico
          • Price-Point Analysis
          • Manufacturer & Distributor List (Top 5)
          • Company Market Share (Top 3-5)
          • Economic Impact Study on North America HVAC Aftermarket
  1. Europe HVAC Aftermarket Overview
    • Europe HVAC Aftermarket Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Europe HVAC Aftermarket Share & Forecast, 2016-2027
        • By Heating Equipment
          • Heat Pumps
          • Furnaces
          • Unitary Heaters
          • Thermostat
          • Boilers
        • By Ventilator Equipment
          • Air-Handling Units
          • Air Filters
          • Dehumidifiers
          • Ventilation Fans
          • Humidifiers
          • Air Purifiers
        • By Cooling Equipment
          • Unitary Air Conditioners
          • VRF Systems
          • Chillers
          • Room Air Conditioners
          • Coolers
          • Cooling Towers
        • By HVAC Controllers
          • Sensors
          • Controllers & Controlled Devices
        • By End-User
          • Residential
          • Non-Residential
            • Commercial
            • Industrial
          • By Country
            • Germany
            • UK
            • France
            • Italy
            • Rest of Europe
          • Price-Point Analysis
          • Manufacturer & Distributor List (Top 5)
          • Company Market Share (Top 3-5)
          • Economic Impact Study on Europe HVAC Aftermarket
  1. Asia Pacific HVAC Aftermarket Overview
    • Asia Pacific HVAC Aftermarket Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Asia Pacific HVAC Aftermarket Share & Forecast, 2016-2027
        • By Heating Equipment
          • Heat Pumps
          • Furnaces
          • Unitary Heaters
          • Thermostat
          • Boilers
        • By Ventilator Equipment
          • Air-Handling Units
          • Air Filters
          • Dehumidifiers
          • Ventilation Fans
          • Humidifiers
          • Air Purifiers
        • By Cooling Equipment
          • Unitary Air Conditioners
          • VRF Systems
          • Chillers
          • Room Air Conditioners
          • Coolers
          • Cooling Towers
        • By HVAC Controllers
          • Sensors
          • Controllers & Controlled Devices
        • By End-User
          • Residential
          • Non-Residential
            • Commercial
            • Industrial
          • By Country
            • China
            • India
            • Japan
            • Australia
            • Rest of Asia Pacific
          • Price-Point Analysis
          • Manufacturer & Distributor List (Top 5)
          • Company Market Share (Top 3-5)
          • Economic Impact Study on Asia Pacific HVAC Aftermarket
  1. South America HVAC Aftermarket Overview
    • South America HVAC Aftermarket Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • South America HVAC Aftermarket Share & Forecast, 2016-2027
        • By Heating Equipment
          • Heat Pumps
          • Furnaces
          • Unitary Heaters
          • Thermostat
          • Boilers
        • By Ventilator Equipment
          • Air-Handling Units
          • Air Filters
          • Dehumidifiers
          • Ventilation Fans
          • Humidifiers
          • Air Purifiers
        • By Cooling Equipment
          • Unitary Air Conditioners
          • VRF Systems
          • Chillers
          • Room Air Conditioners
          • Coolers
          • Cooling Towers
        • By HVAC Controllers
          • Sensors
          • Controllers & Controlled Devices
        • By End-User
          • Residential
          • Non-Residential
            • Commercial
            • Industrial
          • By Country
            • Brazil
            • Argentina
            • Rest of South America
          • Price-Point Analysis
          • Manufacturer & Distributor List (Top 5)
          • Company Market Share (Top 3-5)
          • Economic Impact Study on South America HVAC Aftermarket
  1. Middle East & Africa HVAC Aftermarket Overview
    • Middle East & Africa HVAC Aftermarket Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Middle East & Africa HVAC Aftermarket Share & Forecast, 2016-2027
        • By Heating Equipment
          • Heat Pumps
          • Furnaces
          • Unitary Heaters
          • Thermostat
          • Boilers
        • By Ventilator Equipment
          • Air-Handling Units
          • Air Filters
          • Dehumidifiers
          • Ventilation Fans
          • Humidifiers
          • Air Purifiers
        • By Cooling Equipment
          • Unitary Air Conditioners
          • VRF Systems
          • Chillers
          • Room Air Conditioners
          • Coolers
          • Cooling Towers
        • By HVAC Controllers
          • Sensors
          • Controllers & Controlled Devices
        • By End-User
          • Residential
          • Non-Residential
            • Commercial
            • Industrial
          • By Country
            • Saudi Arabia
            • UAE
            • South Africa
            • Rest of Middle East & Africa
          • Price-Point Analysis
          • Manufacturer & Distributor List (Top 5)
          • Company Market Share (Top 3-5)
          • Economic Impact Study on Middle East & Africa HVAC Aftermarket
  1. Competitor Analysis
    • Company Description
    • Financial Analysis
    • Key Products
    • Key Management Personnel
    • Contact Address
    • SWOT Analysis
    • Company Profile
      • Carrier Corporation
      • Daikin Industries
      • Ingersoll-Rand
      • Johnson Controls
      • Nortek
      • LG Electronics
      • AB Electrolux
      • Emerson Electric
      • Bosch Thermotechnik
      • Fujitsu
      • Haier
      • Lennox International
      • Samsung
      • Siemens
      • Vaillant Group
      • Other Prominent Players