HVAC System Companies - DAIKIN INDUSTRIES (Japan) and Johnson Controls (Ireland) are the Key Players

 

The HVAC System Market is expected to be valued at USD 281.7 billion in 2024 and is projected to reach USD 389.9 billion by 2029 and grow at a CAGR of 6.7% from 2024 to 2029. Product elaunches, acquisitions, partnerships, collaborations, agreements, and expansions are the major growth strategies adopted by the market players. These strategies have enabled them to efficiently fulfil the growing demand for HVAC System Market and expand their global footprint by offering their product and services in all the major regions.

The key players operating in the HVAC system market are DAIKIN INDUSTRIES (Japan), Johnson Controls (Ireland), LG Electronics (South Korea), Midea (China), Carrier (US), Trane Technologies plc (Ireland), Honeywell International Inc. (US), Mitsubishi Electric Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), Madison Air (US), Danfoss (Denmark), FUJITSU General Group (Japan), Gree Electric Appliances, Inc. of Zhuhai (China), Johnson Controls- Hitachi Air Conditioning Company (Japan), Modine Manufacturing Company (US), Panasonic Corporation (Japan), Haier Group (China), Whirlpool Corporation (US), Electrolux (Sweden), Lennox International, Inc. (US), Ferroli (Italy), Bosch (Germany), Rheem Manufacturing Company (US), American Standard Heating and Air Conditioning (US), and WM Technologies LLC (US).

DAIKIN INDUSTRIES (Japan):

Daikin Industries is a major player in the HVAC SYSTEM (Heating, Ventilation, and Air Conditioning) industry, known for its comprehensive range of products and services spanning development, production, sales, and servicing. The company operates its business through three major segments namely Air conditioning, Chemicals and Oil Hydraulics, Defense system, and Electronics. The HVAC SYSTEM products operates under the umbrella of Air conditioning segment. The company has a global presence in over 170 countries wherein the US stands out as a particularly important market for the company in terms of sales generation.

Johnson Controls (Ireland):

The company, a global leader in engineering and manufacturing building products and systems, operates through four key segments: Building Solutions North America, serving the United States and Canada; Building Solutions EMEA/LA, covering Europe, the Middle East, Africa, and Latin America; Building Solutions Asia Pacific, focusing on the Asia Pacific region; and Global Products, which operates worldwide and includes the Johnson Controls-Hitachi joint venture. Across all its segments, the company delivers a comprehensive range of products and services catering to a diverse array of clients. These include commercial, institutional, and industrial entities, as well as data centers, governmental organizations, and residential customers.

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LG Electronics (South Korea):

LG delivers tailored HVAC SYSTEM solutions to suit diverse climate requirements, ensuring fresh, clean air for various business environments. It transforms business processes with connected and integrated technologies, providing comprehensive HVAC SYSTEM systemization. The company operates in various segments such as Home Appliances and Air Solution (H&A), Home Entertainment (HE), Vehicle components Solutions (VS), Business Solutions (BS), LG Innotek, and other segments. The HVAC SYSTEM products are manufactured and sold in the home appliances and Air Solution segment (H&A). The company has more geographical presence in Korea, North America, Asia pacific, Europe, Middle East, and Africa.

 

MIDEA (China):

Midea is a publicly listed Fortune 500 company and the leading manufacturer of home appliances across the globe. Midea has completed high profile projects, it had secured the contract to implement advanced HVAC SYSTEM (Heating, Ventilation, and Air Conditioning) systems across all 12 sports stadiums in Brazil earlier in 2016. Media majorly operates its business from its three main segments HVAC SYSTEM, Consumer Appliances, Robotics & automation systems, and others. Out of these segments HVAC SYSTEM segment generates.

Carrier (US):

Carrier stands as a global leader in intelligent climate and energy solutions. Continuously innovating, the company pioneers healthy home solutions and technologies to meet the evolving needs of its customers. For the second consecutive year, Carrier earned the title of Best HVAC SYSTEM Company by U.S. News & World Report, recognized for its advanced technology, energy efficiency, and innovation. The company operates its business through three major segments namely Fire and Security, Refrigeration as well as Heating, Ventilation and Air conditioning. Carrier's HVAC SYSTEM segment generates the highest sales for the company.