A rooftop unit is a packaged unit that is installed on the roof. These packaged units contain all air conditioning components, including evaporator coil, compressor, condenser, fan, etc. The necessity of the rooftop units in heating, ventilation, and air conditioning (HVAC) systems is one of the major driving factors for the growth of the rooftop units market. Moreover, an increase in the number of supermarkets and hypermarkets, industrial sectors, restaurants, retail stores, shopping malls, workspaces, and other commercial buildings are influencing the growth of the rooftop units market.
MARKET SCOPE
The "Global Rooftop Units Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the rooftop units market with detailed market segmentation by capacity, application, and geography. The report provides key statistics on the market status of the leading rooftop units' market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on capacity, the global rooftop units market is segmented into below 25 tons, 25-50 tons, and above 50 tons.
- On the basis of application, the market is segmented into shopping malls, supermarkets and hypermarkets, restaurants, workspaces, retail stores, industrial, and others.
MARKET DYNAMICS
Drivers:
- The rising need for better working and living spaces is increasing demand for the HVAC systems which propels the growth of the rooftop units market.
- Rapid industrialization, increasing population and urbanization, growing temperature, and pollution across the world due to uncontrollable greenhouse and other toxic gases emission is the significant factor booming the growth of the rooftop units market.
- With emerging need towards a comfortable and safe indoor environment and replace old systems with more effective and efficient systems is likely to propel the rooftop units market growth.
Restraints:
- Lack of skilled professionals for operating the rooftop units is expected to hinder the growth of the market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The rooftop units market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the rooftop units market in these regions.
IMPACT OF COVID-19 ON ROOFTOP UNITS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the rooftop units market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from rooftop units market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the rooftop units market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- AAON
- Accurex, LLC
- CAREL INDUSTRIES S.p.A.
- Carrier
- DAIKIN APPLIED
- Danfoss
- Nortek Air Solutions
- Trane
- Johnson Controls International plc
- Lennox International Inc.