IRVING, Texas — The global HVAC equipment industry is exhibiting good growth opportunities for the period from 2013 to 2018, according to a report from Lucintel, a global management consulting and market research firm. Revenue for HVAC manufacturers is forecast to reach an estimated $95 billion by 2018. The industry is consolidated with the top five and top 10 players accounting for approximately 45 percent and 56 percent, respectively, in 2012.

Lucintel has conducted a competitive analysis of the industry and presents its findings in “Global HVAC Equipment Industry 2013-2018: Trend, Profit, and Forecast Analysis.” Asia Pacific is the biggest global market, standing at 42 percent. Commercial HVAC equipment brings in the majority of industry revenue, contributing 51 percent.

The study highlights HVAC industry growth drivers. Increasing construction activities are mainly responsible for driving growth in the industry. Global sales of homes and new buildings have increased, favoring the industry as sales of HVAC equipment is highly correlated to the construction of new homes and buildings. Availability of easy financing supports the growth of HVAC equipment sales. Residential HVAC equipment is the key growth segment now, says the report, driven by increasing residential construction and product penetration.