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Press Release Description

Significant Growth in the Retail Sector to Fuel the Growth of the Latin America Heating Ventilation Air Conditioning & Refrigeration (HVACR) market

The Latin America Heating Ventilation Air Conditioning & Refrigeration (HVACR) market is growing at a high rate on account of burgeoning government investment on commercial and residential sectors and significant growth in the retail sector on account of propelling middle class and a growing urban population. The booming hospitality sector on account of the escalating number of business and leisure travel trips is proliferation the construction of hotels in the region. Along with this, the increasing presence of international hotel chain in the region is projected to fuel the demand for HVACR over the forecast period.

According to MarkNtel Advisorsresearch reportLatin America Heating Ventilation Air Conditioning & Refrigeration (HVACR) Market Analysis, 2021”, the Latin America Heating Ventilation Air Conditioning & Refrigeration (HVACR) market is anticipated to grow at a CAGR of around 2.4% during 2021-26F. Based on Product Type, Condensing Unit acquired a considerable market share. The condensing unit is an integral of the HVACR which is used for cooling down and condensing the incoming refrigerant vapour into a liquid state. 

“Latin America Heating Ventilation Air Conditioning & Refrigeration (HVACR) Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Heating Ventilation Air Conditioning & Refrigeration (HVACR) providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

The Mexico and Brazil Dominated the Market

Mexico and Brazil dominated the Latin America Heating Ventilation Air Conditioning & Refrigeration (HVACR) market in 2020. The increasing government expenditure on hospitality sector, ongoing various smart city project along with rising inclination towards the development of public infrastructure are driving the market growth. Besides this, strong boost in commercial sector due to opening small cafes, large public spaces, robust urbanization, along with growing disposable income across emerging countries and improving living standard of people are the factors expected to bolster the demand for Heating Ventilation Air Conditioning & Refrigeration (HVACR) Market in the forthcoming period as stated in MarkNtel Advisors’ research report “Latin America Heating Ventilation Air Conditioning & Refrigeration (HVACR) Market Analysis, 2021”. 

According to MarkNtel Advisors’, the key players with a considerable market share in the Latin America Heating Ventilation Air Conditioning & Refrigeration (HVACR) market are Daikin, Mitsubishi, Haier, Carrier Corporation, Midea Group, Dover Corporation, GEA Refrigeration, Elgin S.A., Hussmann, Johnson Controls etc.

Market Segmentation:

  1. By Product Type (Condensing Units, Unit Coolers, Packaged Systems, Control/Monitor Devices, HVAC RTU/AHU, Chillers/Heat Pumps, Evaporators, Display Cases, Fan Coil, Compressor Racks, Cabinet/Counter, Walk-In and Cabinet Cooling Unit)
  2. By Refrigerant (Fluorocarbons, Inorganic, Hydrocarbons or Natural)
  3. By End-User (Residential, Hotels, Corporate Offices, Education, Hospitals, Others)
  4. By Country (Mexico, Brazil, Argentina, Colombia, Peru),
  5. By Company (Daikin, Mitsubishi, Haier, Carrier Corporation, Midea Group, Dover Corporation, GEA Refrigeration, Elgin S.A., Hussmann, Johnson Controls etc.)

Key questions answered in the study:

  1. What are the current and future trends of the Heating Ventilation Air Conditioning & Refrigeration (HVACR) industry?
  2. How the industry has been evolving in terms of end-user demand and application areas?
  3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
  4. What are the key growth drivers and challenges for the Heating Ventilation Air Conditioning & Refrigeration (HVACR) industry?
  5. What is the customer orientation, purchase behavior, and expectations from the Heating Ventilation Air Conditioning & Refrigeration (HVACR) firms across various regions?

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