The Mexico HVAC Equipment Market is expected to register a CAGR of 4.18% over the forecast period (2018-2023). The scope of the report is limited to solutions offered by various market players for residential, industrial, commercial, and hospitality end-user applications, among others. The equipment types considered under the scope of the report include heating equipment, air-conditioning equipment, and ventilation equipment.
The major driver for the HVAC equipment market has been the ever-increasing construction activities in developing economies like Mexico. Other major factors driving the market for HVAC equipment in Mexico include increase in new households, rising average construction spending, rapid urbanization, and growth in disposable income across the country. Growing requirement from the commercial segment and high demand for HVAC products in the North American region, specifically Mexico, are other factors boosting the market. However, high energy consumption of HVAC equipment is a major factor restraining the market.
The residential end-user segment notably witnessed a robust demand for HVAC, owing to the evolving market scenario, coupled with high construction growth rates across Mexico. This end-user segment is expected to remain strong, owing to the rising demand from developing countries, such as Mexico. The rising number of housing units is expected to increase, with ample opportunities for new installations. Residential buildings are the primary consumers of heating and cooling equipment. They account for about 80% of the heating and cooling equipment in colder climates. With increasing population, there is a rise in investment for the development of infrastructure. Hence, the demand for new heating & ventilation systems is growing.
Air-conditioning equipment holds the largest market share in the country, due to rising household income, as well as the rise of global temperature. Mexico is blessed with an unusually varied climate, ranging from hot and humid tropical to arid deserts to high-altitude plateaus. Despite global economic crisis, the market for air-conditioning equipment in Mexico has maintained its growth, and offers continued growth potential. The United States continues to be the largest foreign supplier of air conditioning equipment and parts to the Mexican market. Presently, there is strong commitment in Mexico toward energy efficiency in air-conditioning systems. Few energy sources, the high cost of fossil fuels and their impact on the environment make buildings one of the focal points for finding satisfactory solutions in the saving and efficiency of energy. In 1995, the use of air-conditioning in homes was only 10%, whereas it leaped to 80% in 2013. The change from window units to mini-split systems has seen an exponential growth rate. NAFTA and other trade agreements have opened the market for other countries, giving consumers more product options, due to the great variety of air-conditioning and prices. The demand for air-conditioning systems is well-covered in the northern Mexico and throughout rest of the country. However, there is opportunity for US companies to sell parts and components in the country.
As the economy continues to show signs of positive growth and as the housing and commercial construction sector expands, the demand for HVAC units is also increasing, due to the increasing demand for energy-efficient solutions in air-conditioning and refrigeration. Many regulations have been coming into existence to reduce the use of HVAC systems, as they increase power issues, as compared to traditional heating solutions. Nevertheless, with the growing trend of connected homes and the implementation of greener technologies, HVAC equipment vendors are expected to generate huge revenues.
Major Players: United Technologies Corporation, Daikin Industries Ltd, Haier Inc., Samsung Electronics, Panasonic Corporation, Honeywell International Inc., Lennox International Inc., Electrolux AB, LG Corporation, Emerson Electric Company, Danfoss A/S, among others.
1.1 Scope of the Study
1.2 Executive Summary
2. Research Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Analysis Methodology
2.4 Research Phases
3. Market Analysis
3.1 Market Overview
3.2 Porter's Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Competitive Rivalry in the Industry
3.3 Industry Value Chain Analysis
4. Market Dynamics
4.2.1 Increasing Disposable Income
4.2.2 Rapidly Increasing Construction Activities in Developing Economies
4.3.1 High Energy Consumption of HVAC Equipment
5. Mexico HVAC Equipment Market Segmentation, by Equipment Type
5.1 Heating Equipment
5.2 Air-conditioning Equipment
5.3 Ventilation Equipment
6. Mexico HVAC Equipment Market Segmentation, by End-user Application
7. Mexico HVAC Equipment Market Competitive Intelligence - Company Profiles
7.1 United Technologies Corporation
7.2 Daikin Industries Ltd
7.3 Haier Inc.
7.4 Samsung Electronics
7.5 Panasonic Corporation
7.6 Honeywell International Inc.
7.7 Lennox International Inc.
7.8 Electrolux AB
7.9 LG Corporation
7.10 Emerson Electric Company
7.11 Danfoss A/S
8. Investment Analysis
9. Future of the Market