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PUBLISHER: IMARC | PRODUCT CODE: 1702168
PUBLISHER: IMARC | PRODUCT CODE: 1702168
HVAC Equipment Market Report by Type (Heating, Air Conditioning, Ventilation, and Others), System Type (Central, Decentralized), End User (Residential, Commercial, Industrial), and Region 2025-2033
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PAGES: 148 Pages
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The global HVAC equipment market size reached USD 231.9 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 356.9 Billion by 2033, exhibiting a growth rate (CAGR) of 4.66% during 2025-2033. The market is driven by significant technological advancements, energy efficiency regulations and environmental sustainability awareness. This, along with the rising trend for smart and connected systems and urbanization in emerging economies and increasing number of green building initiatives are further driving HVAC equipment market growth.
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:
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 2024?
- 2.What is the expected growth rate of the global HVAC equipment market during 2025-2033?
- 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?
Product Code: SR112025A6318
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
Product Code: SR112025A6318
List of Figures
- Figure 1: Global: HVAC Equipment Market: Major Drivers and Challenges
- Figure 2: Global: HVAC Equipment Market: Sales Value (in Billion USD), 2019-2024
- Figure 3: Global: HVAC Equipment Market Forecast: Sales Value (in Billion USD), 2025-2033
- Figure 4: Global: HVAC Equipment Market: Breakup by Type (in %), 2024
- Figure 5: Global: HVAC Equipment Market: Breakup by System Type (in %), 2024
- Figure 6: Global: HVAC Equipment Market: Breakup by End User (in %), 2024
- Figure 7: Global: HVAC Equipment Market: Breakup by Region (in %), 2024
- Figure 8: Global: HVAC Equipment (Heating) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 9: Global: HVAC Equipment (Heating) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 10: Global: HVAC Equipment (Air Conditioning) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 11: Global: HVAC Equipment (Air Conditioning) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 12: Global: HVAC Equipment (Ventilation) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 13: Global: HVAC Equipment (Ventilation) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 14: Global: HVAC Equipment (Other Types) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 15: Global: HVAC Equipment (Other Types) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 16: Global: HVAC Equipment (Central) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 17: Global: HVAC Equipment (Central) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 18: Global: HVAC Equipment (Decentralized) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 19: Global: HVAC Equipment (Decentralized) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 20: Global: HVAC Equipment (Residential) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 21: Global: HVAC Equipment (Residential) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 22: Global: HVAC Equipment (Commercial) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 23: Global: HVAC Equipment (Commercial) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 24: Global: HVAC Equipment (Industrial) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 25: Global: HVAC Equipment (Industrial) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 26: North America: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 27: North America: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 28: United States: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 29: United States: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 30: Canada: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 31: Canada: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 32: Asia-Pacific: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 33: Asia-Pacific: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 34: China: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 35: China: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 36: Japan: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 37: Japan: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 38: India: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 39: India: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 40: South Korea: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 41: South Korea: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 42: Australia: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 43: Australia: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 44: Indonesia: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 45: Indonesia: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 46: Others: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 47: Others: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 48: Europe: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 49: Europe: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 50: Germany: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 51: Germany: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 52: France: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 53: France: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 54: United Kingdom: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 55: United Kingdom: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 56: Italy: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 57: Italy: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 58: Spain: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 59: Spain: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 60: Russia: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 61: Russia: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 62: Others: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 63: Others: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 64: Latin America: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 65: Latin America: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 66: Brazil: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 67: Brazil: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 68: Mexico: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 69: Mexico: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 70: Others: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 71: Others: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 72: Middle East and Africa: HVAC Equipment Market: Sales Value (in Million USD), 2019 & 2024
- Figure 73: Middle East and Africa: HVAC Equipment Market: Breakup by Country (in %), 2024
- Figure 74: Middle East and Africa: HVAC Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
- 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, 2024 and 2033
- Table 2: Global: HVAC Equipment Market Forecast: Breakup by Type (in Million USD), 2025-2033
- Table 3: Global: HVAC Equipment Market Forecast: Breakup by System Type (in Million USD), 2025-2033
- Table 4: Global: HVAC Equipment Market Forecast: Breakup by End User (in Million USD), 2025-2033
- Table 5: Global: HVAC Equipment Market Forecast: Breakup by Region (in Million USD), 2025-2033
- Table 6: Global: HVAC Equipment Market: Competitive Structure
- Table 7: Global: HVAC Equipment Market: Key Players
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