Global HVAC System Market Overview: 2024-2030
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 2024-2030
The Global HVAC System Market size is valued at around USD 321 billion in 2024 and is projected to grow at a CAGR of around 6.5% during the forecast period, i.e., 2024-30.
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Global HVAC System Market Dynamics: 2024-2030
Global HVAC System Market Key Driver:
Additional Features & Technological Advancements with Supportive Government Policies – The product is integrated with added features such as green-labeled, environmentally friendly, solar energy run, efficiency, etc., driving the market. Besides, the additional features and benefits such as low maintenance, independent control, device monitoring, automatic adjustments according to the surrounding weather and temperature, improved life, and lessened costs add to the market value. Additionally, the government of numerous countries introducing regulatory policies to facilitate the adoption of heating, ventilation, and cooling systems by providing benefits to the vendors and encouraging the consumer to shift to HVAC is also adding to industrial expansion.
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Global HVAC System Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
By Type
-Single Split Systems- Market Size & Forecast 2019-2030, USD Million
-Variable Refrigerant Flow (VRF) Systems- Market Size & Forecast 2019-2030, USD Million
-Chillers- Market Size & Forecast 2019-2030, USD Million
-Others (Multi-split Systems, and others) – Market Size & Forecast 2019-2030, USD Million
By Application
-Commercial- Market Size & Forecast 2019-2030, USD Million
-Residential- Market Size & Forecast 2019-2030, USD Million
-Industrial- Market Size & Forecast 2019-2030, USD Million
Among the three, Commercial applications are projected to garner the most outstanding market share during the forthcoming years.
By Equipment Type
-Cooling Equipment – Market Size & Forecast 2019-2030, USD Million
-Unitary Air Conditioners- Market Size & Forecast 2019-2030, USD Million
-Vrf Systems- Market Size & Forecast 2019-2030, USD Million
-Chillers- Market Size & Forecast 2019-2030, USD Million
-Room Air Conditioners- Market Size & Forecast 2019-2030, USD Million
-Coolers- Market Size & Forecast 2019-2030, USD Million
-Cooling Towers- Market Size & Forecast 2019-2030, USD Million
-Heating Equipment- Market Size & Forecast 2019-2030, USD Million
-Heat Pumps- Market Size & Forecast 2019-2030, USD Million
-Furnaces- Market Size & Forecast 2019-2030, USD Million
-Unitary Heaters- Market Size & Forecast 2019-2030, USD Million
-Boilers- Market Size & Forecast 2019-2030, USD Million
-Ventilation Equipment- Market Size & Forecast 2019-2030, USD Million
-Air-Handling Units- Market Size & Forecast 2019-2030, USD Million
-Air Filters- Market Size & Forecast 2019-2030, USD Million
-Dehumidifiers- Market Size & Forecast 2019-2030, USD Million
-Ventilation Fans- Market Size & Forecast 2019-2030, USD Million
-Humidifiers- Market Size & Forecast 2019-2030, USD Million
-Air Purifiers- Market Size & Forecast 2019-2030, USD Million
By Implementation Type
-Construction- Market Size & Forecast 2019-2030, USD Million
-Retrofit- Market Size & Forecast 2019-2030, USD Million
By Company
-Revenue Shares
-Competition Characteristics
By Region
-North America
-South America
-Europe
-Middle East & Africa
-Asia-Pacific.
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Top Companies Operating in the Global HVAC System Market:
-Daikin Industries, Ltd.
-Carrier Global Corporation
-LG Electronics Inc.
-Lennox International Inc.
-Mitsubishi Electric Corporation
-Johnson Controls International plc
-Samsung Electronics Co. Ltd.
-Rheem Manufacturing
-Trane
-Emerson Electric Co.
Industry Recent Developments
- In December 2022, Siemens collaborated with Qualcomm to work on 5G smart buildings to improve energy efficiency.
- In July 2022, Carrier completed the acquisition of Toshiba’s global residential and light commercial HVAC business.
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