The Asia-Pacific HVAC market will grow gradually in near future. Ongoing construction in countries like India, Japan, Indonesia and South Korea, is leading toward rise in temperature and is one of the major reasons behind the growth of the industry.
The industry is segmented into ventilation, cooling and heating, in which the largest share is held by cooling category. As the construction in India, China and Japan is rapidly increasing, it is leading toward the rise in temperature in APAC region, and also increase the demand for cooling products which will drive the industry in near future.
On the bases of type, the APAC HVAC industry is divided into many categories, like dehumidifiers and humidifiers, ventilation fans and air cleaners. Fans held the largest share, which can be attributed to the growing need for ventilation fans from residential areas, buildings and offices, hotels, hospitals, gas and oil industry, and automobile industry.
It is compulsory for commercial buildings and industrial areas to use ventilation systems, because of this the demand for fans is predicted to increase in the near future.
To decrease the energy consumption, the demand for smart HVAC systems is increasing in the APAC region. Large number of customers are adopting these systems, these provide better experience, enhanced real-time performance monitoring building automation, and IoT based lighting system. These systems also provide better variability of temperatures and can be controlled through remotes.
Furthermore, such systems offer preventive maintenance facilities, and advance system efficiency. These systems also make low noise in comparison to others, due to which the need for these systems will grow in the near future.
One of the major reasons behind the growth of the Asia-Pacific HVAC market is the increasing per-capita income of the people in India and China.
Consumers are spending more on appliances like, refrigerators, air conditioners, especially in India. Due to mass manufacturing and enhancements in technology, cost efficiency is also increasing. Hence, growing population of the APAC region, is contributing toward the growth of the industry.
The main reason behind the success of these systems in APAC region are growing acceptance of HVAC geothermal systems. These HAVC equipment are more eco-friendly in terms of heating and cooling homes as compared to other systems.
Therefore, as most of the people in the region is leaning more toward eco-friendly resources, the need for HVAC systems will grow rapidly in near future.
