According to the P&S intelligence, the size of the New Zealand and Australia market is predicted to exceed $3.2 billion and a CAGR of 5.7% within the predicted timeframe.
There are several elements driving the industry like the development of the manufacturing sector alongside strict regulations from the government for advancing energy efficiency across the region.
Considering that the increasing worldwide temperature is creating development possibilities for the HVAC sector, which has a positive impact on the New Zealand and Australia HVAC industry.
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Dependent on the type of HVAC, the cooling sector in Australia generates the biggest market share in 2018.
The sub-tropical climate in Australia is the major element that triggered the prominence of the cooling sector in the region.
However, a couple of other elements that drive the development of the cooling industry are increasing per capita income, enhancing economic conditions, and global warming.
Considering the increasing demand for cooling or air conditioning, the producers of air conditioners are regularly developing efficient and affordable systems that end up boosting the growth of the market.
The commonly used type of cooling system in the New Zealand HVAC industry is the Room Air Conditioner. The room conditioner industry of Australia has been predicted to achieve a development of 6.0% in CAGR between 2019 and 2024.
This is a result of the adaptability of room air conditioners in their application for both simple commercial and residential structures.
The substitution of advanced systems in existing buildings and the high rate of installation of central air conditioners in new structures has helped to drive sales generally.
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Find the entire report consisting of 54 figures and 68 tables across 122 pages and described TOC on New Zealand and Australia HVAC industry Marked Report According to Type (Ventilation, heating, Cooling), End-User (Residential, Industrial, Commercial, Regional insight) (New Zealand, Australia)
In New Zealand, the commercial sector was the major end-user of HVAC systems. In 2018, the expenses on construction activities in Auckland for residential buildings like motels, hotels, and boarding houses were raised by $212 million, which is a 78% YoY development when compared with that of 2017.
Considering that HVAC is the most significant aspect of buildings, the industry for these systems in the commercial sector is predicted to reach new highs within the predicted timeframe.
The increasing number of Commercial and residential structures has been a significant element driving the New Zealand and Australia HVAC industry.
This is due to the increasing number of individuals and construction projects in New Zealand and Australia.
By 2023, New Zealand’s construction industry is projected to achieve $41 billion as opposed to about $34 billion generated in 2016.
For example, Auckland’s Commercial bay has over 39,000 square meters of office towers and more than 18,000 square meters of about 129 retail shops still under construction, which is predicted to cost about $690 million when completed by April 2020.
As a result of the increasing consumption of electricity and the rate of solar radiation in New Zealand, the country has started to major the use of renewable sources of energy.
In Auckland, New Zealand, about 2,050 hours of sunlight is sent to the city and about 75,000 kWh of possible solar energy annually.
The use of a solar-powered HVAC system is an effective method of cooling and heating structures.
Therefore, the introduction of different solar-powered HVAC systems is predicted to offer players of the New Zealand and Australia HVAC industry, new possibilities within the predicted timeframe.
Inquiries can be made before purchase New Zealand and Australia’s HVAC industry is very competitive and segmented as a result of the major HVAC players and the increasing number of players in the region.
Key players include Johnson Controls Int’l Plc, Mitsubishi Electric Corporation, Daikin Industries Ltd., Fujitsu Limited, and United Technologies Corporation.
Other major regional players are Kirby HVAC&R Pty Ltd., Temperzone Ltd, Sanden International (Australia) Pty Ltd., Fonko Air Conditioning, and Actron Engineering Pty Ltd.
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India HVAC industry
The Indian HVAC industry is very competitive which is majorly dependent on quality, price, technical knowledge, reputation, efficiency, and energy.
Also, the launch of new products has been the primary activity in the country’s HVAC industry.
Asia-Pacific (APAC) HVAC Industry
The development of the Asia Pacific HVAC industry is being driven by the increasing number of infrastructures in India and China.
Additionally, numerous structural projects like metro railways and airports are underway in India.
The Middle East and Africa (MEA) HVAC Industry
The increase in the demand among the population of Nigeria, Gabon, Kenya, Congo, and Uganda is owed to the economic stability in the region. So, the increase in the hot, humid, and income generation in the region has resulted in the rise in the use of the MEA HVAC industry.
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