With the rise in the atmospheric temperature due to global warming, the demands for Heating Ventilation and air-conditioning (HVAC) products have increased considerably. In the last few years, the global market for HVAC has witnessed various strategic and technological developments, undertaken by key players to reinforce their position in the global market. According to the latest market intelligence report by BIS Research titled, ‘Global Heating Ventilation and Air Conditioning Market- Analysis and Forecast (2018-2024),’ the market is expected to grow at a CAGR of 4.5% in terms of volume. Some of the prominent market players of the heating ventilation and air conditioning market are Daikin Industries Ltd., Trane, Johnson Controls, Carrier, Samsung Electronics, and Fujitsu Limited.
In April 2018, Samsung Electronics Co., Ltd. presented its ideas of leading air-conditioning solutions at Mostra Convego Expo comfort 2018, in Milan, Italy to strengthen its position in the European HVAC market. At the expo, Samsung promoted its revolutionary and unique Wind-FreeTM technology in Europe. The company exhibited the full line-up of Wind-Free air conditioner units for both residential and commercial use, including the 1-way and 4-way units.1
In April 2018, Q-CARRIER, a world-leader in high technology heating, air-conditioning, and refrigeration solutions, recently launched the ‘Toshiba Super Modular Multi System- 7(SMMS-7)’. The developed system is a new climate centric and application-driven variable refrigerant flow(VRF) system, optimized for use in Southeast Asia. The Toshiba VRF is designed to achieve ultimate efficiency, operational reliability, and a minimal environmental footprint for rapidly growing tropical urban landscapes.2
In February 2018, Fujitsu General America Inc., strengthen its partnership with Ventacity Systems, a Portland heating, and ventilation startup, by giving $ 2 million. Ventacity systems makes software and physical ventilation systems that create more efficient and easier to control HVAC for buildings. The company will use the money to hire engineering support and sales staff. Through this partnership, small and mid-sized buildings can integrate Fujitsu’s heating and cooling technology into Ventacity products.3
The global market for heating ventilation and air-conditioning system can be segmented by product types into window and portables, mini-splits, packaged units, chillers, and variable refrigerant flows(VRFs), among others. Owing to the early existence and widespread adoption of mini-splits in the residential sector, mini-splits accounted for the highest market share of 56.7% of the total market in 2017. Packaged air-conditioner is anticipated to register the highest CAGR of 4.8% during the forecast period, among the product types.