CHICAGO, Aug. 24, 2023 /PRNewswire/ -- The report "HVAC Linset Market by Material (Copper, Low Carbon), End-Use Industry (Residential, Commercial, Industrial), Implementation (New Construction, Retrofit) & Region(NA, Asia Pacific, Europe, Middle East & Africa, South America) - Global Forecast to 2028", size is projected to reach USD 13.4 billion by 2028 from USD 9.2 billion in 2023, at a CAGR of 7.9% during the forecast period.
The major drivers for the HVAC Linset market are 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. The local cooling solutions and rising environmental concerns are considered as restraining factors in this market. Whereas rising global temperatures and heat islands act as opportunities in the HVAC Linset market.
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Copper is fastest growing segment on the basis of material type, in terms of value, during the forecast period."
The copper segment reigns as the fastest-growing market in the HVAC Linset industry. Its versatility shines through soft and hard copper tubes, designated as Types K, L, and ACR, addressing diverse needs. Compliance with ASTM standards ensures reliability. The necessity for permanent incising guarantees authenticity, while the use of high-purity copper (99.9%), specifically UNS C12200 or DHP1 Copper, solidifies its prominence. From meeting ASTM specifications to its essential role in HVAC systems, copper's attributes propel its rapid expansion in the Linset market.
The residential end use industry has the highest market share in HVAC Linset market, in terms of value.
The residential end-use industry has the second-largest market share in the HVAC Linset market due to surging global population growth and escalating air conditioner demand. Intensified factors such as heat islands, increasing cooling degree days, and robust residential construction, particularly in India, China, and Indonesia, drive HVAC system needs and copper based Linset markets. Government initiatives to address housing shortages and accommodate low-income groups further propel this growth, solidifying the sector's prominence.
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The retrofit segment is projected to grow at the fastest rate, in terms of value, during the forecast period.
The retrofit segment is projected to grow at the fastest rate within the HVAC Linset market. Integrating new components into existing systems, retrofitting offers cost-effective enhancement while aligning with green initiatives. The need to replace both indoor and outdoor units due to component failure drives demand for efficient HVAC Linsets. Despite capital hurdles, the adoption of IoT and smart technologies fosters growth. Government incentives, like the Energy Policy Act's tax deduction, propel energy-efficient HVAC systems, cementing retrofitting's rapid expansion.
Europe has the third largest market share in the HVAC Linset market, in terms of value.
Europe has the third largest market share in the HVAC Linset market. With prominent consumers like Germany, France, and the UK leading the trend, the region thrives on increased construction activities and a hub of major Linset manufacturers. Efficient manufacturing facilities and well-established distribution channels enhance supply to renowned HVAC system manufacturers. Europe's substantial role is further amplified by thriving residential constructions and supportive government initiatives, driving robust growth in the HVAC Linset market.
Daikin (Japan), Halcro (Greece), Hydro (Norway), KME SE (Germany), and Mueller Streamline Co. (US) are some of the established players in the HVAC Linset market. These players have adopted various strategies such as mergers & acquisitions, joint ventures, and expansion to strengthen their market position.
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