Daikin (Japan) and Halcor (Greece) are the Key Players in the HVAC Linesets Market

 

The global HVAC linesets market size is projected to reach USD 11.4 billion by 2026 at a CAGR of 10.0% from USD 7.1 billion in 2021. Urbanization and increase in residential construction, growing trends of smart homes, increasing demand for air conditioners, and significant growth in number of data centers and their power density are driving the HVAC lineset market.

The increase in demand for HVAC systems and the growing industrial development in the emerging economies, such as APAC and South America, are also boosting the market. The key players in the HVAC lineset market include Daikin (Japan), Halcor (Greece), Hydro (Norway), KME SE (Italy), Mueller Streamline Co. (US), Cerro Flow Products LLC (US), JMF Company (US), Zhejiang Ice Loong Environmental Sci-Tech Co., Ltd (China), Feinrohren S.p.A. (Italy), DiversiTech Corporation (US), Foshan Shunde Lecong Hengxin Copper Tube Factory (China), Zhejiang Hailiang Co., Ltd. (China), Linesets Inc. (US), Cambridge-Lee Industries LLC (US), HMAX (US), ICool USA, Inc. (US), PDM US (US), MM Kembla (Australia), Mandev Tubes (India), Uniflow Copper Tubes (India), Kobelco & Materials Copper Tube Co., Ltd. (Japan), Mehta Tubes Limited (India), and Klima Industries (South Korea). These market leaders have adopted various organic as well as inorganic growth strategies between January 2015 and May 2021 to strengthen their position in the HVAC lineset market. The strategy of expansions was among the major growth strategies adopted by the leading market players to enhance their regional presence and meet the growing demand for HVAC lineset in emerging economies

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Daikin is one of the leading players in air-conditioning and fluorochemicals businesses. It is engaged in manufacturing general air-conditioning equipment with in-house divisions covering both air conditioning and refrigerants. The company operates globally and provides its products in more than 150 countries. The company operates many R&D centers as well that are dedicated to innovations in the Air Conditioning business segments. The R&D centers of the company are located in 6 regions namely: the US, Japan, China, Asia/Oceania, and Europe. The company offers long line sets and Mini Split Line sets under the brand name of Daikin. These line sets are offered through onsite sales or through the channel of e-commerce such as e-Bay.

Halcor is amongst the leading manufacturers and suppliers of copper tubes in Europe. The company operates as a copper tubes division of ElvalHalcor, a joint venture established in December 2017, between Elval and Halcor. The copper segment of ElvalHalcor comprises four subsidiaries and two joint ventures, located in Greece, Belgium, Bulgaria, Romania and Turkey. The copper segment of ElvalHalcor develops and distributes a wide range of products, including copper and copper-alloy rolled and extruded products with Halcor being the sole producer of copper tubes in Greece. Halcor along with four more companies form the copper division of ElvalHalcor, is engaged in the production, processing and marketing of copper and copper alloys products. Halcor offers copper alloy and copper based products for application in various sectors, such as plumbing, HVAC&R, renewable energy, architecture, engineering and industrial production. Halcor has a commercial presence across European and global markets with its products being distributed in approximately 60 countries around the world.

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Urbanization and increase in residential construction are driving the HVAC Linesets Market

One of the key drivers propelling the HVAC demand on a global level is urbanization. The urbanization rates in industrial countries are above 75%, whereas urbanization is still in a relatively early stage in developing countries. This is particularly true in the case of South Asia, Sub-Saharan Africa, and Southeast Asian regions, where approximately 50% of people live in urban areas. According to Atlantic Council, India, with a population of approximately 1.4 billion, is expected to reach 46% of urbanization by 2040. Indonesia, Malaysia, Thailand, the Philippines, Singapore, and Vietnam are expected to witness strong growth in the residential construction sector. For instance, as per the Construction Outlook for Asia, the Indonesian construction industry, driven mainly by government investment in energy infrastructure, is expected to continue to expand at a healthy rate, with investments in housing, transport, and tourism infrastructure projects continuing to drive growth.

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Residential construction is estimated to be the second-largest market in the Indonesian construction industry accounting for 25.8% of the construction sector in the country in 2018. This is followed by energy and utility construction, commercial construction with a 7.8% share in the construction sector of Indonesia, industrial construction with 6.3%, and institutional construction with 3.5%. Additionally, as per the Construction Outlook for Asia, residential construction was one of the primary markets in the construction sector of Singapore and the Philippines in 2018. These factors are expected to support the growth of the HVAC industry in developing countries, thereby propelling the demand for line sets, particularly for the residential and commercial end-use industries.

Also, new buildings in urban areas will enhance electricity consumption, especially through demand for air conditioning and ventilation in hot and tropical environments. As per Bloomberg’s New Energy Outlook 2019 estimates, air conditioning use will double in emerging countries by 2050, with air conditioning consumption reaching 5376 TWh or 12.7% of projected global electricity demand. Also, in the US, buildings accounted for nearly 75% of electricity consumption in 2018. Furthermore, as per the US Energy Information Administration (EIA), the US will gain more than 58 million people and 24 million households by 2050, and the total square footage of US residences will expand by 33%. By 2050, 71% of households will be in single-family homes, which typically have more air-conditioned floor space than multifamily or mobile homes. These factors are collectively expected to contribute to the overall growth in the HVAC industry, thereby cascading the growth of the line sets market on a global level.

The global HVAC linesets market size is projected to reach USD 11.4 billion by 2026 at a CAGR of 10.0% from USD 7.1 billion in 2021. Urbanization and increase in residential construction, growing trends of smart homes, increasing demand for air conditioners, and significant growth in number of data centers and their power density are driving the HVAC lineset market.

Browse 186 market data Tables and 67 Figures spread through 231 Pages and in-depth TOC on “HVAC Linesets Market by Material Type (Copper, Low Carbon), End-Use (Residential, Commercial, Industrial), Implementation (New Construction, Retrofit), and Region (APAC, North America, Europe, MEA, South America) – Global Forecast to 2026”

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Growth opportunities for HVAC linesets manufacturers

The Paris Agreement aims to limit global warming to well below 2°C above pre-industrial levels and ideally to no more than 1.5°C. However, a lack of ambitious policies to curb emissions among large emitters indicates a likely temperature increase of more than 3°C by 2100 and up to 4.8°C under the worst-case scenarios. Due to this, the number of hot days is projected to increase globally, resulting in a rise in demand for cooling solutions. The Intergovernmental Panel on Climate Change (IPCC) predicts that global energy demand from residential AC will grow 33-fold between 2000 to 2100, mostly from developing countries. Furthermore, populous cities in already hot regions could see temperature shifts of multiple degrees. For instance, Ahmedabad in India, which is trying to save lives by implementing a Heat Action Plan, will see an increase of 1.6°C. Additionally, demand for cooling solutions is likely to grow in more temperate climates. The colder regions could be more detrimentally affected by rising temperatures than hotter regions because they have not traditionally prepared for hot days and heatwaves. In order to cope with high summer temperatures, buildings have traditionally relied on ventilation. which is less effective during heatwaves. With heatwaves becoming more prevalent in the UK and the rest of Europe, the demand for cooling is likely to grow.

Moreover, cities raise temperatures by trapping heat and preventing its dissipation into the lower atmosphere. They also produce their own heat, such as warm pollutants ejected from vehicle fumes and industrial activities, which become concentrated, confined by buildings and urban structures. This results in microclimates called the urban heat islands (UHI). The UHI in a city with more than one million population can result in temperatures between 1-3°C warmer than its surrounding areas. Developed cities with UHI dynamics include London, Paris, New York, and Las Vegas. Low-and middle-income countries suffer acutely due to UHIs.

These factors create growth opportunities for HVAC line sets manufacturers. The global HVAC linesets market size is projected to reach USD 11.4 billion by 2026 at a CAGR of 10.0% from USD 7.1 billion in 2021.

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Browse 186 market data Tables and 67 Figures spread through 231 Pages and in-depth TOC on “HVAC Linesets Market”

Major players operating in the global HVAC linesets market include Daikin (Japan), Halcor (Greece), Hydro (Norway), KME SE (Italy), Mueller Streamline Co. (US), Cerro Flow Products LLC (US), JMF Company (US), Zhejiang Ice Loong Environmental Sci-Tech Co., Ltd (China), Feinrohren S.p.A. (Italy), DiversiTech Corporation (US), Foshan Shunde Lecong Hengxin Copper Tube Factory (China), Zhejiang Hailiang Co., Ltd. (China), Linesets Inc. (US), Cambridge-Lee Industries LLC (US), HMAX (US), ICool USA, Inc. (US), PDM US (US), MM Kembla (Australia), Mandev Tubes (India), Uniflow Copper Tubes (India), Kobelco & Materials Copper Tube Co., Ltd. (Japan), Mehta Tubes Limited (India), and Klima Industries (South Korea).