Market Share of HVAC Equipment Industry
The HVAC equipment market is fragmented with major players like Trane Inc. (Trane Technologies PLC), Midea Group, NIBE Group, Panasonic Corporation, and Mitsubishi Electric Corporation. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
November 2023 - Mitsubishi Electric Corporation announced that it has developed an aluminum vertical flat tube (VFT) design that improves heat exchanger performance by up to an unprecedented 40% in heat-pump air conditioners used for heating and cooling. Compared to conventional aluminum horizontal flat tube (HFT) heat exchangers, Mitsubishi Electric's new VFT heat exchanger also reduces refrigerant charge thanks to its smaller internal volume of up to 20% compared to HFT designs.
December 2023 - Daikin Europe NV released a line of residential air-to-air heat pumps using difluoromethane (R32) as the refrigerant, with outdoor unit dimensions of 662 mm x 442 mm x 1022 mm. The output ranges from 2.5 kW to 3.5 kW, and the seasonal coefficient of performance (SCOP) is between 4.85 and 5.17.
HVAC Equipment Market Leaders
Trane Technologies PLC
Aermec SpA (Giordano Riello International Group SPA)
Daikin Industries Ltd.
Clivet SpA (Midea Group)
Emicon Innovation and Comfort SRL
*Disclaimer: Major Players sorted in no particular order
