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HVAC Equipment Market Report by Type (Heating, Air Conditioning, Ventilation, and Others), System Type (Central, Decentralized), End User (Residential, Commercial, Industrial), and Region 2024-2032

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    Report

  • 141 Pages
  • March 2024
  • Region: Global
  • IMARC Group
  • ID: 5946553
Description Jump to:
The global HVAC equipment market size reached US$ 221.1 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 343.1 Billion by 2032, exhibiting a growth rate (CAGR) of 5.0% during 2023-2032.

Heating, ventilation, and air conditioning (HVAC) equipment is used to provide environmental comfort to occupants and allow appropriate air quantity in vehicles and homes. It includes heating, cooling, and hybrid split, duct-free, and packaged heating and air conditioning systems. It helps improve the air quality of an enclosed space and introducing conditioned air. It also helps replenish oxygen and remove moisture, smoke, dust, bacteria, and unwanted pollutants. Besides this, it is environment-friendly and saves construction space, installation time and cost, and minimizes power usage. As a result, HVAC equipment is extensively used in numerous industry verticals across the globe.

HVAC Equipment Market Trends:

Rapid urbanization and the growing global population are resulting in the increasing construction of residential and commercial buildings, which are equipped with HVAC equipment. In addition, the expansion of hotels, restaurants, shopping malls, and movie theaters is catalyzing the demand for HVAC equipment as they help maintain a consistent temperature. Sudden changes in climate and rising temperature are significantly impacting energy consumption and air conditioning loads of buildings. This, in turn, is driving the demand for HVAC equipment. Apart from this, the increasing use of technologically advanced and energy-efficient variants of HVAC equipment is strengthening the market growth. Additionally, the rising focus of leading manufacturers on retaining their market position through partnership, acquisition and business expansion is creating a positive market outlook. Furthermore, governments of various countries are implementing various initiatives to encourage individuals to use energy-efficient HVAC devices in their homes and workplaces. They are also increasing their spending capacity on sustainable building development, which is expected to propel the market growth in the coming years.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global HVAC equipment market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on type, system type and end user.

Breakup by Type:

  • Heating
  • Air Conditioning
  • Ventilation
  • Others

Breakup by System Type:

  • Central
  • All-Air Systems
  • All-Water Systems
  • Air-Water Systems
  • Water-Source Heat Pumps
  • Heating and Cooling Panels
  • Decentralized
  • Local Heating Systems
  • Local Cooling Systems
  • Local Ventilation Systems
  • Local Air-Conditioning Systems
  • Split Systems

Breakup by End User:

  • Residential
  • Commercial
  • Industrial

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape:

  • The competitive landscape of the industry has also been examined along with the profiles of the key players being Carrier Global Corporation, Daikin Industries Ltd., Danfoss AS, Emerson Electric Co., Honeywell International Inc., Johnson Controls International, Lennox International Inc, LG Electronics Inc., Mitsubishi Electric Corporation, Panasonic Holdings Corporation, Samsung Electronics Co. Ltd., Trane Technologies plc and Whirlpool Corporation.

Key Questions Answered in This Report

1. What was the size of the global HVAC equipment market in 2023?
2. What is the expected growth rate of the global HVAC equipment market during 2024-2032?
3. What are the key factors driving the global HVAC equipment market?
4. What has been the impact of COVID-19 on the global HVAC equipment market?
5. What is the breakup of the global HVAC equipment market based on type?
6. What is the breakup of the global HVAC equipment market based on the system type?
7. What is the breakup of the global HVAC equipment market based on the end user?
8. What are the key regions in the global HVAC equipment market?
9. Who are the key players/companies in the global HVAC equipment market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global HVAC Equipment Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Heating
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Air Conditioning
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Ventilation
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by System Type
7.1 Central
7.1.1 Market Trends
7.1.2 Key Segments
7.1.2.1 All-Air Systems
7.1.2.2 All-Water Systems
7.1.2.3 Air-Water Systems
7.1.2.4 Water-Source Heat Pumps
7.1.2.5 Heating and Cooling Panels
7.1.3 Market Forecast
7.2 Decentralized
7.2.1 Market Trends
7.2.2 Key Segments
7.2.2.1 Local Heating Systems
7.2.2.2 Local Cooling Systems
7.2.2.3 Local Ventilation Systems
7.2.2.4 Local Air-Conditioning Systems
7.2.2.5 Split Systems
7.2.3 Market Forecast
8 Market Breakup by End User
8.1 Residential
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Commercial
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Industrial
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Carrier Global Corporation
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.2 Daikin Industries Ltd.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 Danfoss AS
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 SWOT Analysis
14.3.4 Emerson Electric Co.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 Honeywell International Inc.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 Johnson Controls International
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Lennox International Inc
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 LG Electronics Inc.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.9 Mitsubishi Electric Corporation
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 Panasonic Holdings Corporation
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11 Samsung Electronics Co. Ltd.
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.11.4 SWOT Analysis
14.3.12 Trane Technologies plc
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.12.3 Financials
14.3.12.4 SWOT Analysis
14.3.13 Whirlpool Corporation
14.3.13.1 Company Overview
14.3.13.2 Product Portfolio
14.3.13.3 Financials
14.3.13.4 SWOT Analysis
List of Figures
Figure 1: Global: HVAC Equipment Market: Major Drivers and Challenges
Figure 2: Global: HVAC Equipment Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: HVAC Equipment Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: HVAC Equipment Market: Breakup by Type (in %), 2023
Figure 5: Global: HVAC Equipment Market: Breakup by System Type (in %), 2023
Figure 6: Global: HVAC Equipment Market: Breakup by End User (in %), 2023
Figure 7: Global: HVAC Equipment Market: Breakup by Region (in %), 2023
Figure 8: Global: HVAC Equipment (Heating) Market: Sales Value (in Million US$), 2018 & 2023
Figure 9: Global: HVAC Equipment (Heating) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 10: Global: HVAC Equipment (Air Conditioning) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: HVAC Equipment (Air Conditioning) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: HVAC Equipment (Ventilation) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: HVAC Equipment (Ventilation) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: HVAC Equipment (Other Types) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: HVAC Equipment (Other Types) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: HVAC Equipment (Central) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: HVAC Equipment (Central) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: HVAC Equipment (Decentralized) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: HVAC Equipment (Decentralized) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: HVAC Equipment (Residential) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: HVAC Equipment (Residential) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: HVAC Equipment (Commercial) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: HVAC Equipment (Commercial) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: HVAC Equipment (Industrial) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: HVAC Equipment (Industrial) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: North America: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: North America: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: United States: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: United States: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Canada: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Canada: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Asia-Pacific: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Asia-Pacific: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: China: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: China: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Japan: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Japan: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: India: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: India: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: South Korea: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: South Korea: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: Australia: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: Australia: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Indonesia: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Indonesia: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Others: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Others: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Europe: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Europe: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Germany: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Germany: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: France: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: France: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: United Kingdom: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: United Kingdom: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Italy: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Italy: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: Spain: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: Spain: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: Russia: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: Russia: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Others: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Others: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Latin America: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Latin America: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: Brazil: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: Brazil: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: Mexico: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: Mexico: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Others: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Others: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: Middle East and Africa: HVAC Equipment Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: Middle East and Africa: HVAC Equipment Market: Breakup by Country (in %), 2023
Figure 74: Middle East and Africa: HVAC Equipment Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 75: Global: HVAC Equipment Industry: SWOT Analysis
Figure 76: Global: HVAC Equipment Industry: Value Chain Analysis
Figure 77: Global: HVAC Equipment Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: HVAC Equipment Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: HVAC Equipment Market Forecast: Breakup by Type (in Million US$), 2024-2032
Table 3: Global: HVAC Equipment Market Forecast: Breakup by System Type (in Million US$), 2024-2032
Table 4: Global: HVAC Equipment Market Forecast: Breakup by End User (in Million US$), 2024-2032
Table 5: Global: HVAC Equipment Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 6: Global: HVAC Equipment Market: Competitive Structure
Table 7: Global: HVAC Equipment Market: Key Players

Companies Mentioned

  • Carrier Global Corporation
  • Daikin Industries Ltd.
  • Danfoss AS
  • Emerson Electric Co. Honeywell International Inc.
  • Johnson Controls International
  • Lennox International Inc
  • LG Electronics Inc.
  • Mitsubishi Electric Corporation
  • Panasonic Holdings Corporation
  • Samsung Electronics Co. Ltd.
  • Trane Technologies plc and Whirlpool Corporation

Methodology

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Table Information

Report AttributeDetails
No. of Pages141
PublishedMarch 2024
Forecast Period2023 - 2032
Estimated Market Value ( USD ) in 2023 $ 221.1 Billion
Forecasted Market Value ( USD ) by 2032 $ 343.1 Billion
Compound Annual Growth Rate5.0%
Regions CoveredGlobal
No. of Companies Mentioned11

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