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Heating, Ventilation and Air Conditioning (HVAC) Systems - Global Strategic Business Report

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    Report

  • 745 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4805533
The global market for Heating, Ventilation and Air Conditioning (HVAC) Systems is estimated at US$217 Billion in 2023 and is projected to reach US$313.4 Billion by 2030, growing at a CAGR of 4.7% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the Cooling Systems segment, which is expected to reach US$239.2 Billion by 2030 with a CAGR of 5.1%. The Heating Systems segment is also set to grow at 4% CAGR over the next 8 years.
  • Regional Analysis: Gain insights into the U.S. market, estimated at $57.4 Billion in 2023, and China, forecasted to grow at an impressive 7.1% CAGR to reach $70.9 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

  • Detailed Market Analysis: Access a thorough analysis of the Global Heating, Ventilation and Air Conditioning (HVAC) Systems Market, covering all major geographic regions and market segments.
  • Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
  • Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Heating, Ventilation and Air Conditioning (HVAC) Systems Market.
  • Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

  • How is the Global Heating, Ventilation and Air Conditioning (HVAC) Systems Market expected to evolve by 2030?
  • What are the main drivers and restraints affecting the market?
  • Which market segments will grow the most over the forecast period?
  • How will market shares for different regions and segments change by 2030?
  • Who are the leading players in the market, and what are their prospects?

Report Features:

  • Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
  • In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
  • Company Profiles: Coverage of major players such as Blue Star Ltd., Baltimore Aircoil Company, Bryant Heating & Cooling System, and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 136 Featured):

  • Blue Star Ltd.
  • Baltimore Aircoil Company
  • Bryant Heating & Cooling System
  • Aprilaire
  • BDR Thermea Group BV
  • Brentwood Industries, Inc.
  • AAON, Inc.
  • Af Gruppen Asa
  • Air International Thermal Systems
  • Airedale International Air Conditioning Ltd.
  • Bell Cooling Towers
  • Baltec IES Pty., Ltd.
  • CaptiveAire Systems
  • Burnham Holdings, Inc.
  • Bard Manufacturing Company

MarketGlass Platform

Our reports are enhanced by the MarketGlass platform, which brings together industry experts and influencers to provide high-quality, accurate insights. This unique platform allows us to gather comprehensive data and market perspectives, ensuring you receive the most reliable and detailed analysis available.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Global Market Prospects & Outlook
  • Prominent Challenges Daring Expansion of HVAC Market
  • HVAC Industry Deep Dive Reveals Upcoming, Game-Changing Trends
  • Sustainability & Technology: Elements Central to Latest Trends in HVAC Industry
  • Climate Change: An Important Driving Factor for Energy-efficient HVAC Systems
  • HVAC Energy Use by End-Use (in %)
  • Millennial Generation Plays an Important Role
  • Asia-Pacific Continues to Dominate Global Market
  • Heating, Ventilation and Air Conditioning (HVAC) Systems - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • Competitive Scenario
  • HVAC Companies Adapt Strategies to Navigate Unsettling Phase of COVID-19
  • Recent Market Activity
  • Select Global Brands
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Pressing Need to Cut Energy Consumption and Operational Costs Impels Energy Efficient HVAC Systems Market
  • Select Innovations Enabling Efficient and High-Performance HVAC Systems
  • Use of Multi-Enzyme Solutions
  • Sustainable Retrofit
  • Air Conditioning with Ice Power
  • Digital Ceilings
  • Smart Glasses
  • Sustainable HVAC Ductwork
  • Major Market Restraints
  • Trends in HVAC Industry Taking Energy Efficiency to Next Level
  • Smart HVAC Systems Hold Immense Potential
  • Smart Thermotats: An Important Development
  • Integration of HVAC Systems and IoT Offers New Opportunities
  • AI for Reduced Building Heating & Cooling Expenses
  • Importance of Improving the Efficiency of HVAC Systems in US School Buildings
  • Cloud-Connected HVAC Systems Enable Creation of Smart and Efficient Facilities
  • Automated Control Systems for HVAC Equipment Gain Traction in Buildings
  • Alternative Energy Sources Garner Attention
  • Solar Powered HVAC Systems Gain Traction
  • Global Solar Power Market: Solar PV Capacity (in GW) and PV Generation (in TWh) for the Years 2017, 2019, 2021 and 2023
  • Heat Pumps Dominate the HVAC Market
  • Geothermal Cooling & Heating Presents Viable Option to Improve Building Efficiency
  • Closed- and Open-Loop Systems
  • Demand for Ductless ACs on the Rise
  • Strong Growth in Demand for Ductless Multi-Zone Systems
  • Global VRF System Market to Gain Pace
  • Outdoor Units Lead the Market
  • HVACs with Air Quality Systems: High in Demand
  • Air Conditioning Systems: Climate Change and Rising Temperatures Drive Market Growth
  • Adoption (in %) of Air Conditioning in Households
  • Deployment of Environment-Friendly Refrigerants Increases in ACs
  • List of Various Refrigerants Types
  • Green Refrigerants to Replace Hydro Fluorocarbons
  • Next-generation Factory Assembled Cooling Towers to Positively Impact Bottom Line of HVAC and Industrial Processes
  • Rise in Adoption of DeVAP systems
  • Rising Interest in Indoor Growth Facilities: An Emerging Market Driver
  • Construction Sector Investments Strongly Influence Market Prospects
  • Global Construction Industry Growth Outlook (in %) for years 2019 through 2025
  • Global Construction Market: Annual % Growth by Major Geographies for 2019-2025
  • Replacement and Refurbishment Demand for HVAC Systems
  • Urbanization Remains a Key Growth Driver
  • World Urban Population in Thousands: 1950-2050
  • Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
  • Affluent Middle Class Opens Up Asia into a Major Market
  • Growing Middle Class Population in Asia Pacific Drives Demand for New HVAC Systems: Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
  • Expanding Base of Middle Class in the Asian Region Provides the Perfect Platform for HVAC Systems: Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030
  • Impact of COVID-19 on the Operation and Energy Consumption of Future HVAC Systems: Challenges Associated with Designing of HVAC Systems
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Cooling Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 2: World Historic Review for Cooling Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 3: World 16-Year Perspective for Cooling Systems by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 4: World Recent Past, Current & Future Analysis for Heating Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 5: World Historic Review for Heating Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 6: World 16-Year Perspective for Heating Systems by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Ventilation Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 8: World Historic Review for Ventilation Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 9: World 16-Year Perspective for Ventilation Systems by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 10: World Recent Past, Current & Future Analysis for New Construction by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 11: World Historic Review for New Construction by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 12: World 16-Year Perspective for New Construction by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 13: World Recent Past, Current & Future Analysis for Retrofit by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 14: World Historic Review for Retrofit by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 15: World 16-Year Perspective for Retrofit by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 16: World Recent Past, Current & Future Analysis for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 17: World Historic Review for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 18: World 16-Year Perspective for Commercial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 19: World Recent Past, Current & Future Analysis for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 20: World Historic Review for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 21: World 16-Year Perspective for Residential by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 22: World Recent Past, Current & Future Analysis for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 23: World Historic Review for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 24: World 16-Year Perspective for Industrial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 25: World Heating, Ventilation and Air Conditioning (HVAC) Systems Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • Table 26: World Recent Past, Current & Future Analysis for Heating, Ventilation and Air Conditioning (HVAC) Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 27: World Historic Review for Heating, Ventilation and Air Conditioning (HVAC) Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 28: World 16-Year Perspective for Heating, Ventilation and Air Conditioning (HVAC) Systems by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030
III. MARKET ANALYSIS
UNITED STATES
  • Heating, Ventilation and Air Conditioning (HVAC) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
  • Government Initiatives Prop Up Demand for Energy Efficient Models
  • Positive Signs of Revival in Construction Market Augurs Well for HVAC Systems
  • After Facing a Severe Blow, Recovery in Construction Sector to Spur Growth
  • US Commercial Construction Rebounds with Anticipated Spending on Infrastructure Projects
  • Rise in Home Buying Activity Benefits Demand
  • Market Analytics
CANADA
JAPAN
  • Heating, Ventilation and Air Conditioning (HVAC) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
  • Market Overview
  • Efforts toward Energy Conservation Impact Japanese HVAC Industry
  • Competitive Scenario
  • Market Analytics
CHINA
  • Heating, Ventilation and Air Conditioning (HVAC) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
  • China Evolves into Core Market for HVAC Systems
  • China to Remain a Dominant Market for HVAC Systems in the Long Term
  • China’s Current Dominant Hold on Global Manufacturing Output & Its Central Role in World Trade Makes the Country a Major Market for HVAC Systems in Asia: Percentage Breakdown of Global Manufacturing Output by Region for the Years 1990, 2013, 2017 & 2025
  • Market Analytics
EUROPE
  • Heating, Ventilation and Air Conditioning (HVAC) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
FRANCEGERMANYITALYUNITED KINGDOMSPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Heating, Ventilation and Air Conditioning (HVAC) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
  • Market Overview
  • Rising Standards of Living Fuel Market Expansion
AUSTRALIA
INDIA
  • High Growth Opportunities Identified in India
  • Healthy Demand for Air Conditioner Systems
  • Regional Demand Patterns
  • Energy-Efficient Products Foray into the Market
  • Adoption of Natural Refrigerants
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Heating, Ventilation and Air Conditioning (HVAC) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Heating, Ventilation and Air Conditioning (HVAC) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
IRANISRAELSAUDI ARABIA
UNITED ARAB EMIRATES
  • Eco-Friendly Air Conditioning Systems Gain Traction
REST OF MIDDLE EAST
AFRICA
  • Heating, Ventilation and Air Conditioning (HVAC) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)
IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Blue Star Ltd.
  • Baltimore Aircoil Company
  • Bryant Heating & Cooling System
  • Aprilaire
  • BDR Thermea Group BV
  • Brentwood Industries, Inc.
  • AAON, Inc.
  • Af Gruppen Asa
  • Air International Thermal Systems
  • Airedale International Air Conditioning Ltd.
  • Bell Cooling Towers
  • Baltec IES Pty., Ltd.
  • CaptiveAire Systems
  • Burnham Holdings, Inc.
  • Bard Manufacturing Company

Table Information