Market Outlook

According to Future Market Consulting analysis, Global HVAC Market size was valued at USD 198.01 Billion in 2021 and is projected to reach USD 287.33 Billion by 2030, growing at a CAGR of 7.12 % from 2022 to 2030.

Industrialization, urbanization, and migration changes are some of the main factors fueling the expansion of the HVAC market. As a result, there are more businesses, manufacturing facilities, and residential complexes using HVAC equipment. A new tendency is growing demand for combined heating, ventilation, as well as cooling systems. The rise of hybrid systems is being complemented by the rising demand for temperature correction that happens automatically. Additionally, it is anticipated that the demand from the hospitality, food & beverage as well telecom industries as well as the rise in building activities in both the residential and commercial sectors will significantly contribute to the expansion of the market. But in the near future, it's anticipated that a shortage of qualified professionals will have an effect on market expansion.

Thermally driven air conditioners have become more popular as a result of the increase in green-labeled goods brought on by growing environmental consciousness. Manufacturers give cutting-edge systems, including Lennox International Inc., Daikin Industries, Ltd., with others. These air units are energy efficient because they use solar energy in addition to natural gas.

Key Players

• Daikin Industries
• Johnson Controls
• Carrier
• Trane technologies
• LG Electronics
• Emerson Electric
• Honeywell Inc
• Mitsubishi Electric Corp
• Nortek Air Management
• Samsung Electronics

Segmentation

By Implementation

• Retrofit
• New Construction

By Heating Equipment

• Heat Pumps
• Furnaces
• Unitary Heaters
• Boilers

By Ventilation Equipment

• Air Handling Units
• Filters & Humidifiers
• Ventilation Units
• Dehumidifiers
• Air Purifiers
• Other Equipment

By Cooling Equipment

• Unitary Air Conditioners
• VRF Systems
• Chillers & Coolers
• Air Conditioners

By Application

• Residential
• Commercial
• Industrial

By Region

North America

• S.
• Canada
• Mexico

Europe

• France
• UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Rest of Asia Pacific

Middle East & Africa

• GCC
• South Africa
• Rest of the Middle East & Africa

South America

• Brazil
• Argentina
• Rest of South America