PUBLISHER: IMARC | PRODUCT CODE: 1451520
PUBLISHER: IMARC | PRODUCT CODE: 1451520
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
The global HVAC equipment market size reached US$ 221.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 343.1 Billion by 2032, exhibiting a growth rate (CAGR) of 4.9% during 2024-2032.
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:
IMARC Group 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. Our 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
- 9.1.1 United States
- 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
- 9.2.1 China
- 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
- 9.3.1 Germany
- 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
- 9.4.1 Brazil
- 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
- 14.3.1 Carrier Global Corporation
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
