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

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    Report

  • 745 Pages
  • October 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4805533
The global market for Heating, Ventilation and Air Conditioning (HVAC) Systems is estimated at US$217.0 Billion in 2023 and is projected to reach US$313.4 Billion by 2030, growing at a CAGR of 5.4% 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 a 5.8%. The Heating Systems segment is also set to grow at 4.6% CAGR over the analysis period.
  • Regional Analysis: Gain insights into the U.S. market, estimated at $57.4 Billion in 2023, and China, forecasted to grow at an impressive 8.2% 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

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 2024 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
  • Competitive Scenario
  • 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
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