DUBLIN, Nov. 22, 2023 /PRNewswire/ — The “Australia HVAC Systems Market (2023-2029) | Share, Value, Outlook, Analysis, Trends, COVID-19 IMPACT, Industry, Forecast, Revenue, Size, Companies & Growth: Market Forecast By Product Type, By Applications and Competitive Landscape” report has been added to ResearchAndMarkets.com’s offering.
The Australia HVAC System Market experienced an 8.52% increase in value shipments in 2022 compared to 2021, with a -8.19% CAGR between 2017 and 2022.
The market’s competitiveness, as measured by the Herfindahl Index (HHI), increased from 1836 in 2017 to 1989 in 2022. Higher HHI indicates fewer players or exporting countries in the market.
Australia relied more on imports in the HVAC System Market, with an import factor of 15.14 in 2022 compared to 16.21 in 2017. China, New Zealand, Malaysia, Thailand, and Italy were prominent players in 2022, with China holding the largest market share at 37.56% and offering products below the average market price.
During the COVID-19 pandemic in 2020, Australia’s HVAC system market faced challenges, but government infrastructure spending and programs like the homebuilder initiative supported construction, maintaining market momentum. The market is projected to grow at a CAGR of 7.2% from 2023 to 2029, driven by construction, transportation, and infrastructure sectors.
The cooling segment dominated the market, driven by demand in the commercial and residential sectors, with modern and energy-efficient HVAC systems playing a significant role. Commercial applications led market revenues in 2022, driven by the adoption of HVAC systems in various commercial spaces, including offices, hotels, restaurants, and transportation hubs.
The HVAC system market in Australia is expected to thrive, thanks to government infrastructure investments and the growth of commercial spaces, fostering new HVAC system installations.
Key Highlights of the Report
Australia HVAC Systems Market Overview
Australia HVAC Systems Market Outlook
Australia HVAC Systems Market Forecast
Historical Data and Forecast of Australia HVAC Systems Market Revenues for the Period 2019-2029F
Historical Data and Forecast of Market Revenues, By Product Types, for the Period 2019-2029F
Historical Data and Forecast of Market Revenues, By Applications, for the Period 2019-2029F
Market Drivers and Restraints
Australia HVAC System Market Trends
Industry Life Cycle
Porter’s Five Force Analysis
Market Opportunity Assessment
Australia HVAC Systems Revenue Ranking, By Companies
Competitive Benchmarking
Company Profiles
Carrier Corporation
Fujitsu Ltd.
Daikin Industries Ltd.
Johnson Controls Inc.
LG Electronics Inc.
Midea Group Co Ltd.
Mitsubishi Electric Corporation
Panasonic Corporation
Samsung Electronics Co Ltd
Trane Inc.
Market Scope and Segmentation
By Product Type
Heating
Ventilation
Cooling
By Applications
Residential
Commercial
Industrial
For more information about this report visit https://www.researchandmarkets.com/r/ns9aw0
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SOURCE Research and Markets
