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HVAC and Commercial and Industrial Refrigeration Equipment Market Report 2025

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    Report

  • 300 Pages
  • March 2025
  • Region: Global
  • The Business Research Company
  • ID: 5781131
The HVAC and commercial and industrial refrigeration equipment market size has grown strongly in recent years. It will grow from $432.53 billion in 2024 to $458.91 billion in 2025 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to urbanization and construction boom, globalization and international trade, demand for air quality solutions, rise in commercial real estate, health and safety regulations.

The HVAC and commercial and industrial refrigeration equipment market size is expected to see strong growth in the next few years. It will grow to $566.75 billion in 2029 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to transition to sustainable cooling, rising demand for cold chain logistics, global climate change concerns, energy efficiency and green building standards, economic growth in emerging markets. Major trends in the forecast period include smart and connected hvac systems, advanced refrigeration technologies, and decentralized refrigeration systems, adoption of heat pumps, hvac retrofits and upgrades.

The global expansion of the construction industry is anticipated to drive the growth of the HVAC and commercial and industrial refrigeration equipment markets during the forecast period. The construction industry encompasses the industrial sector involved in building, repairing, renovating, and maintaining infrastructure. The development of new commercial spaces requires HVAC systems to ensure indoor comfort, while the residential construction sector boosts the demand for efficient heating and cooling systems, which are preferred by homebuyers and renters for comfort and energy efficiency. For instance, in August 2023, a report from the U.S. Census Bureau, a US-based Federal Statistical System, indicated that construction expenditure reached $1.93 trillion in June 2023, reflecting a 3.5% increase from the estimated $1.87 trillion in June 2022. Thus, the growing construction industry is set to propel the HVAC and commercial and industrial refrigeration equipment markets moving forward.

The growth of the HVAC and commercial and industrial refrigeration equipment market is supported by stable economic growth projected in various developed and developing countries throughout the forecast period. Economic growth refers to the increase in goods and services production within an economy over a specified time, typically assessed as the percentage change in real Gross Domestic Product (GDP). Such growth often results in higher disposable incomes for consumers, which can lead to increased spending on comfort systems for homes and offices, including advanced HVAC solutions and energy-efficient refrigeration units. For example, in Germany, the year-on-year GDP growth improved from -0.3% in 2023 to 0.1% in 2024 and is expected to reach 1% in 2025. Therefore, robust economic growth is fueling the HVAC and commercial and industrial refrigeration equipment market.

Companies operating in the HVAC and commercial and industrial refrigeration equipment markets are proactively embracing sustainability by transitioning to eco-friendly refrigerants such as Solstice N71 (R-471A), ensuring adherence to international regulations, and promoting environmentally conscious practices within the industry. Solstice N71 (R-471A) represents a significant advancement for the supermarket industry, being the inaugural non-flammable and energy-efficient solution with a low global warming potential (GWP) of less than 150. An illustrative example is Honeywell International Inc., a US-based technology and manufacturing company, which introduced Solstice N71 (R-471A) in January 2022. This new refrigerant, part of Honeywell's Solstice line of low-GWP solutions, caters to the needs of the commercial and industrial refrigeration sector, particularly supermarkets and retailers preparing for impending regulatory changes. Solstice N71 stands out as the industry's first non-flammable and energy-efficient option, aligning with sustainability goals and global environmental considerations.

Geothermal heating and cooling technology is gaining popularity due to the increasing demand for energy-efficient HVAC systems. This technology extracts heat from a building and transfers it underground, while utilizing cool water from the ground to provide air conditioning within the facility. It comprises an indoor handling unit and a network of underground pipes, which require minimal maintenance and typically have a longer lifespan than traditional HVAC systems. According to the U.S. Department of Energy, a government agency, approximately 50,000 geothermal heating and cooling systems are installed in U.S. homes each year.

In July 2024, Bosch, a Germany-based company specializing in vehicle technology and hardware and software solutions, acquired a residential and light commercial HVAC business from Johnson Controls and Hitachi for an undisclosed sum. This acquisition allows Bosch to broaden its HVAC portfolio by incorporating advanced technologies and innovations from Johnson Controls and Hitachi, thereby enhancing its offerings in residential and light commercial heating, ventilation, and air conditioning systems. Johnson Controls-Hitachi Air Conditioning is a Japan-based company that provides HVAC and commercial and industrial refrigeration solutions.

Major companies operating in the HVAC and commercial and industrial refrigeration equipment market include Midea Group, Hitachi Ltd., Panasonic Corporation, Haier Group, Specialty Refrigeration and Equipment, Daikin Global, Gree Electric Appliances Inc., Johnson Controls International plc, Carrier Corporation, Illinois Tool Works Inc., Snow River Chillers, Fukushima Galilei Co. Ltd, Lotte Engineering & Machinery Mfg. Co., Dover Corporation, Ingersoll-Rand Plc, GEA Group AG, Hoshizaki Corporation, Blue Star Limited, Standex International Corporation, Arneg S.p.A, Paul Mueller Company, Bitzer, Baltimore Aircoil Company, Structural Concepts Corporation, Zhongshan Aochi Refrigeration Equipment Co. Ltd, Mokon Chillers, Blue Air, Frigoglass SAIC, Cold Shot Chillers, RTF Manufacturing.

Asia-Pacific was the largest region in The HVAC and commercial and industrial refrigeration equipment market in 2024. North America was the second largest region in the HVAC and commercial and industrial refrigeration equipment. The regions covered in the hvac and commercial and industrial refrigeration equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hvac and commercial and industrial refrigeration equipment market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.

HVAC and commercial/industrial refrigeration equipment encompass machinery utilized within the refrigeration sector, managing heat transfer for products or building environments.

These types consist of HVAC equipment and commercial/industrial refrigeration equipment, specifically designed for the commercial and industrial refrigeration sectors. They come in varying capacities such as small, medium, and large, and find applications in sectors such as food processing, beverage production, chemicals/pharmaceuticals, petrochemicals, and energy industries.

The HVAC and commercial and industrial refrigeration equipment market research report is one of a series of new reports that provides HVAC and commercial and industrial refrigeration equipment market statistics, including HVAC and commercial and industrial refrigeration equipment industry global market size, regional shares, competitors with an HVAC and commercial and industrial refrigeration equipment market share, detailed HVAC and commercial and industrial refrigeration equipment market segments, market trends and opportunities, and any further data you may need to thrive in the HVAC and commercial and industrial refrigeration equipment industry. This HVAC and commercial and industrial refrigeration equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The HVAC and commercial and industrial refrigeration equipment market consists of sales of split systems, hybrid systems, duct-free systems, and packaged heating and air systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.

Table of Contents

1. Executive Summary2. HVAC and Commercial and Industrial Refrigeration Equipment Market Characteristics
3. HVAC and Commercial and Industrial Refrigeration Equipment Product/Service Analysis -Product/Service Examples
3.1. HVAC and Commercial and Industrial Refrigeration Equipment Supply Chain Analysis
3.1.1. HVAC and Commercial and Industrial Refrigeration Equipment Resources
3.1.2. HVAC and Commercial and Industrial Refrigeration Equipment Manufacturers
3.1.3. HVAC and Commercial and Industrial Refrigeration Equipment Distributors and Retailers
3.1.4. HVAC and Commercial and Industrial Refrigeration Equipment End Users
3.2. HVAC and Commercial and Industrial Refrigeration Equipment Customer Information
4. HVAC and Commercial and Industrial Refrigeration Equipment Market Trends and Strategies
5. HVAC and Commercial and Industrial Refrigeration Equipment Market - Macro Economic Scenario
5.1. Impact of High Inflation on the Market
5.2. Ukraine-Russia War Impact on the Market
5.3. COVID-19 Impact on the Market
6. Global HVAC and Commercial and Industrial Refrigeration Equipment Market Size and Growth
6.1. Global HVAC and Commercial and Industrial Refrigeration Equipment Market Drivers and Restraints
6.1.1. Drivers of the Market
6.1.2. Restraints of the Market
6.2. Global HVAC and Commercial and Industrial Refrigeration Equipment Historic Market Size and Growth, 2018-2023, Value ($ Billion)
6.3. Global HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
7. HVAC and Commercial and Industrial Refrigeration Equipment Market Segmentation
7.1. Global HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • HVAC Equipment
  • Commercial and Industrial Refrigeration Equipment
7.2. Global HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Small
  • Medium
  • Large
7.3. Global HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Food Processing
  • Beverage Production
  • Chemicals and Pharmaceuticals
  • Petrochemicals
  • Energy
  • Logistics
8. HVAC and Commercial and Industrial Refrigeration Equipment Market Regional and Country Analysis
8.1. Global HVAC and Commercial and Industrial Refrigeration Equipment Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.2. Global HVAC and Commercial and Industrial Refrigeration Equipment Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
9. Asia-Pacific HVAC and Commercial and Industrial Refrigeration Equipment Market
9.1. Asia-Pacific HVAC and Commercial and Industrial Refrigeration Equipment Market Overview
Region Information, Impact of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
9.2. Asia-Pacific HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
9.3. Asia-Pacific HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
9.4. Asia-Pacific HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10. China HVAC and Commercial and Industrial Refrigeration Equipment Market
10.1. China HVAC and Commercial and Industrial Refrigeration Equipment Market Overview
10.2. China HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
10.3. China HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
10.4. China HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
11. India HVAC and Commercial and Industrial Refrigeration Equipment Market
11.1. India HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. India HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. India HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12. Japan HVAC and Commercial and Industrial Refrigeration Equipment Market
12.1. Japan HVAC and Commercial and Industrial Refrigeration Equipment Market Overview
12.2. Japan HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Japan HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.4. Japan HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13. Australia HVAC and Commercial and Industrial Refrigeration Equipment Market
13.1. Australia HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Australia HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Australia HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14. Indonesia HVAC and Commercial and Industrial Refrigeration Equipment Market
14.1. Indonesia HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. Indonesia HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. Indonesia HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. South Korea HVAC and Commercial and Industrial Refrigeration Equipment Market
15.1. South Korea HVAC and Commercial and Industrial Refrigeration Equipment Market Overview
15.2. South Korea HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. South Korea HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. South Korea HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16. Bangladesh HVAC and Commercial and Industrial Refrigeration Equipment Market
16.1. Bangladesh, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
16.2. Bangladesh, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
17. Thailand HVAC and Commercial and Industrial Refrigeration Equipment Market
17.1. Thailand, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
17.2. Thailand, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
18. Vietnam HVAC and Commercial and Industrial Refrigeration Equipment Market
18.1. Vietnam, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
18.2. Vietnam, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
19. Malaysia HVAC and Commercial and Industrial Refrigeration Equipment Market
19.1. Malaysia, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
19.2. Malaysia, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
20. Singapore HVAC and Commercial and Industrial Refrigeration Equipment Market
20.1. Singapore, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
20.2. Singapore, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
21. Philippines HVAC and Commercial and Industrial Refrigeration Equipment Market
21.1. Philippines, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
21.2. Philippines, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
22. Hong Kong HVAC and Commercial and Industrial Refrigeration Equipment Market
22.1. Hong Kong, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
22.2. Hong Kong, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
23. New Zealand HVAC and Commercial and Industrial Refrigeration Equipment Market
23.1. New Zealand, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
23.2. New Zealand, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
24. Western Europe HVAC and Commercial and Industrial Refrigeration Equipment Market
24.1. Western Europe HVAC and Commercial and Industrial Refrigeration Equipment Market Overview
24.2. Western Europe HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. Western Europe HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. Western Europe HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. UK HVAC and Commercial and Industrial Refrigeration Equipment Market
25.1. UK HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.2. UK HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. UK HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. Germany HVAC and Commercial and Industrial Refrigeration Equipment Market
26.1. Germany HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.2. Germany HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. Germany HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27. France HVAC and Commercial and Industrial Refrigeration Equipment Market
27.1. France HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. France HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. France HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. Italy HVAC and Commercial and Industrial Refrigeration Equipment Market
28.1. Italy HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.2. Italy HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Italy HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. Spain HVAC and Commercial and Industrial Refrigeration Equipment Market
29.1. Spain HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.2. Spain HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Spain HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
30. Austria HVAC and Commercial and Industrial Refrigeration Equipment Market
30.1. Austria, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
30.2. Austria, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
31. Belgium HVAC and Commercial and Industrial Refrigeration Equipment Market
31.1. Belgium, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
31.2. Belgium, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
32. Denmark HVAC and Commercial and Industrial Refrigeration Equipment Market
32.1. Denmark, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
32.2. Denmark, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
33. Finland HVAC and Commercial and Industrial Refrigeration Equipment Market
33.1. Finland, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
33.2. Finland, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
34. Ireland HVAC and Commercial and Industrial Refrigeration Equipment Market
34.1. Ireland, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
34.2. Ireland, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
35. Netherlands HVAC and Commercial and Industrial Refrigeration Equipment Market
35.1. Netherlands, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
35.2. Netherlands, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
36. Norway HVAC and Commercial and Industrial Refrigeration Equipment Market
36.1. Norway, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
36.2. Norway, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
37. Portugal HVAC and Commercial and Industrial Refrigeration Equipment Market
37.1. Portugal, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
37.2. Portugal, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
38. Sweden HVAC and Commercial and Industrial Refrigeration Equipment Market
38.1. Sweden, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
38.2. Sweden, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
39. Switzerland HVAC and Commercial and Industrial Refrigeration Equipment Market
39.1. Switzerland, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
39.2. Switzerland, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
40. Eastern Europe HVAC and Commercial and Industrial Refrigeration Equipment Market
40.1. Eastern Europe HVAC and Commercial and Industrial Refrigeration Equipment Market Overview
40.2. Eastern Europe HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
40.3. Eastern Europe HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
40.4. Eastern Europe HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
41. Russia HVAC and Commercial and Industrial Refrigeration Equipment Market
41.1. Russia HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
41.2. Russia HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
41.3. Russia HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
42. Czech Republic HVAC and Commercial and Industrial Refrigeration Equipment Market
42.1. Czech Republic, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
42.2. Czech Republic, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
43. Poland HVAC and Commercial and Industrial Refrigeration Equipment Market
43.1. Poland, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
43.2. Poland, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
44. Romania HVAC and Commercial and Industrial Refrigeration Equipment Market
44.1. Romania, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
44.2. Romania, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
45. Ukraine HVAC and Commercial and Industrial Refrigeration Equipment Market
45.1. Ukraine, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
45.2. Ukraine, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
46. North America HVAC and Commercial and Industrial Refrigeration Equipment Market
46.1. North America HVAC and Commercial and Industrial Refrigeration Equipment Market Overview
46.2. North America HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
46.3. North America HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
46.4. North America HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
47. USA HVAC and Commercial and Industrial Refrigeration Equipment Market
47.1. USA HVAC and Commercial and Industrial Refrigeration Equipment Market Overview
47.2. USA HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
47.3. USA HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
47.4. USA HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
48. Canada HVAC and Commercial and Industrial Refrigeration Equipment Market
48.1. Canada HVAC and Commercial and Industrial Refrigeration Equipment Market Overview
48.2. Canada HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
48.3. Canada HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
48.4. Canada HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
49. Mexico HVAC and Commercial and Industrial Refrigeration Equipment Market
49.1. Mexico, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
49.2. Mexico, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
50. South America HVAC and Commercial and Industrial Refrigeration Equipment Market
50.1. South America HVAC and Commercial and Industrial Refrigeration Equipment Market Overview
50.2. South America HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
50.3. South America HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
50.4. South America HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
51. Brazil HVAC and Commercial and Industrial Refrigeration Equipment Market
51.1. Brazil HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
51.2. Brazil HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
51.3. Brazil HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
52. Chile HVAC and Commercial and Industrial Refrigeration Equipment Market
52.1. Chile, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
52.2. Chile, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
53. Argentina HVAC and Commercial and Industrial Refrigeration Equipment Market
53.1. Argentina, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
53.2. Argentina, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
54. Colombia HVAC and Commercial and Industrial Refrigeration Equipment Market
54.1. Colombia, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
54.2. Colombia, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
55. Peru HVAC and Commercial and Industrial Refrigeration Equipment Market
55.1. Peru, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
55.2. Peru, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
56. Middle East HVAC and Commercial and Industrial Refrigeration Equipment Market
56.1. Middle East HVAC and Commercial and Industrial Refrigeration Equipment Market Overview
56.2. Middle East HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
56.3. Middle East HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
56.4. Middle East HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
57. Saudi Arabia HVAC and Commercial and Industrial Refrigeration Equipment Market
57.1. Saudi Arabia, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
57.2. Saudi Arabia, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
58. Israel HVAC and Commercial and Industrial Refrigeration Equipment Market
58.1. Israel, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
58.2. Israel, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
59. Iran HVAC and Commercial and Industrial Refrigeration Equipment Market
59.1. Iran, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
59.2. Iran, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
60. Turkey HVAC and Commercial and Industrial Refrigeration Equipment Market
60.1. Turkey, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
60.2. Turkey, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
61. United Arab Emirates HVAC and Commercial and Industrial Refrigeration Equipment Market
61.1. United Arab Emirates, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
61.2. United Arab Emirates, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
62. Africa HVAC and Commercial and Industrial Refrigeration Equipment Market
62.1. Africa HVAC and Commercial and Industrial Refrigeration Equipment Market Overview
62.2. Africa HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
62.3. Africa HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
62.4. Africa HVAC and Commercial and Industrial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
63. Egypt HVAC and Commercial and Industrial Refrigeration Equipment Market
63.1. Egypt, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
63.2. Egypt, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
64. Nigeria HVAC and Commercial and Industrial Refrigeration Equipment Market
64.1. Nigeria, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
64.2. Nigeria, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
65. South Africa HVAC and Commercial and Industrial Refrigeration Equipment Market
65.1. South Africa, HVAC and Commercial and Industrial Refrigeration Equipment Historic Market, 2018-2023, $ Billion
65.2. South Africa, HVAC and Commercial and Industrial Refrigeration Equipment Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
66. HVAC and Commercial and Industrial Refrigeration Equipment Market Competitive Landscape and Company Profiles
66.1. HVAC and Commercial and Industrial Refrigeration Equipment Market Competitive Landscape
66.2. HVAC and Commercial and Industrial Refrigeration Equipment Market Company Profiles
66.2.1. Midea Group
66.2.1.1. Overview
66.2.1.2. Products and Services
66.2.1.3. Strategy
66.2.1.4. Financial Performance
66.2.2. Hitachi Ltd.
66.2.2.1. Overview
66.2.2.2. Products and Services
66.2.2.3. Strategy
66.2.2.4. Financial Performance
66.2.3. Panasonic Corporation
66.2.3.1. Overview
66.2.3.2. Products and Services
66.2.3.3. Strategy
66.2.3.4. Financial Performance
66.2.4. Haier Group
66.2.4.1. Overview
66.2.4.2. Products and Services
66.2.4.3. Strategy
66.2.4.4. Financial Performance
66.2.5. Specialty Refrigeration and Equipment
66.2.5.1. Overview
66.2.5.2. Products and Services
66.2.5.3. Strategy
66.2.5.4. Financial Performance
67. HVAC and Commercial and Industrial Refrigeration Equipment Market Other Major and Innovative Companies
67.1. Daikin Global
67.2. Gree Electric Appliances Inc.
67.3. Johnson Controls International plc
67.4. Carrier Corporation
67.5. Whirlpool Corporation
67.6. Illinois Tool Works Inc.
67.7. Electrolux AB
67.8. Snow River Chillers
67.9. Fukushima Galilei Co. Ltd
67.10. Lotte Engineering & Machinery Mfg. Co.
67.11. Dover Corporation
67.12. Ingersoll-Rand Plc
67.13. GEA Group AG
67.14. Hoshizaki Corporation
67.15. Blue Star Limited
68. Global HVAC and Commercial and Industrial Refrigeration Equipment Market Competitive Benchmarking69. Global HVAC and Commercial and Industrial Refrigeration Equipment Market Competitive Dashboard70. Key Mergers and Acquisitions in the HVAC and Commercial and Industrial Refrigeration Equipment Market
71. HVAC and Commercial and Industrial Refrigeration Equipment Market Future Outlook and Potential Analysis
71.1 HVAC and Commercial and Industrial Refrigeration Equipment Market in 2028 - Countries Offering Most New Opportunities
71.2 HVAC and Commercial and Industrial Refrigeration Equipment Market in 2028 - Segments Offering Most New Opportunities
71.3 HVAC and Commercial and Industrial Refrigeration Equipment Market in 2028 - Growth Strategies
71.3.1 Market Trend-based Strategies
71.3.2 Competitor Strategies
72. Appendix
72.1. Abbreviations
72.2. Currencies
72.3. Historic and Forecast Inflation Rates
72.4. Research Inquiries
72.5. About the Analyst
72.6. Copyright and Disclaimer

Executive Summary

HVAC and Commercial and Industrial Refrigeration Equipment Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on hvac and commercial and industrial refrigeration equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase:

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50 geographies.
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  • All data from the report will also be delivered in an excel dashboard format.

Description

Where is the largest and fastest growing market for hvac and commercial and industrial refrigeration equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hvac and commercial and industrial refrigeration equipment market global report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
  • The forecasts are made after considering the major factors currently impacting the market. These include:
  • The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
  • Market segmentations break down the market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

1) By Type: HVAC Equipment; Commercial and Industrial Refrigeration Equipment
2) By Capacity: Small; Medium; Large
3) By Application: Food Processing; Beverage Production; Chemicals and Pharmaceuticals; Petrochemicals; Energy; Logistics

Subsegments:

1) By HVAC Equipment: Heating Equipment; Furnaces; Heat Pumps; Boilers; Ventilation Equipment; Air Handling Units (AHUs); Exhaust Fans; Air Filtration Systems; Ductless Mini-Split Systems; Chillers
2) By Commercial and Industrial Refrigeration Equipment: Commercial Refrigerators and Freezers; Reach-in Refrigerators; Walk-in Coolers and Freezers; Industrial Refrigeration Systems; Refrigeration Compressors; Ammonia Refrigeration Systems; Display Refrigeration Units; Merchandising Refrigerators; Ice Cream Freezers

Key Companies Mentioned: Midea Group; Hitachi Ltd.; Panasonic Corporation; Haier Group; Specialty Refrigeration and Equipment

Countries: Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.

Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery Format: PDF, Word and Excel Data Dashboard.

Companies Mentioned

  • Midea Group
  • Hitachi Ltd.
  • Panasonic Corporation
  • Haier Group
  • Specialty Refrigeration and Equipment
  • Daikin Global
  • Gree Electric Appliances Inc.
  • Johnson Controls International plc
  • Carrier Corporation
  • Illinois Tool Works Inc.
  • Snow River Chillers
  • Fukushima Galilei Co. Ltd
  • Lotte Engineering & Machinery Mfg. Co.
  • Dover Corporation
  • Ingersoll-Rand Plc
  • GEA Group AG
  • Hoshizaki Corporation
  • Blue Star Limited
  • Standex International Corporation
  • Arneg S.p.A
  • Paul Mueller Company
  • Bitzer
  • Baltimore Aircoil Company
  • Structural Concepts Corporation
  • Zhongshan Aochi Refrigeration Equipment Co. Ltd
  • Mokon Chillers
  • Blue Air
  • Frigoglass SAIC
  • Cold Shot Chillers
  • RTF Manufacturing

Table Information