Australia and New Zealand HVAC Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

Key Highlights

The Australia and New Zealand HVAC market generated a value of USD 3,055.8 million in 2023, and it will increase to USD 4,525.7 million, advancing at more than 5.8% compound annual growth rate, by 2030.

The rising count of commercial as well as residential projects is a major factor driving the growth of this industry. This can be mainly ascribed to the surge in the populace, coupled with the flourishing construction sector in ANZ.

The rising count of commercial and residential projects needs a large number of HVAC systems and is also aiding the expansion of the HVAC industry.

The industry growth is further aided by the surging populace, the increasing industrial production, and the advancing real estate sector.

The inclination toward green/smart buildings is gaining significance, because of factors such as rising levels of pollution, the urge to build a sustainable and healthy environment, and high carbon emissions.

A green building involves practices, such as water conservation, energy efficiency, greenhouse gas emission reduction, recycling, and waste reuse, which decrease the consumption of natural resources and safeguard the environment.

Real estate businesses are concentrating on the creation of green/smart buildings as a result of their rising demand.

Market Insights

The commercial category accounted for the largest share of the industry in 2023, of approximately 40%.

This is because of swift urbanization and economic development, which have resulted in a rise in the construction of hospitals, malls, commercial buildings, hotels, and special economic zones (SEZs), thus assisting in the rising need for HVAC systems.

As HVAC systems are a vital part of buildings, the market for these systems in the commercial sector is further likely to surge.

The industrial category is likely to advance rapidly, with approximately a 6.3% compound annual growth rate in the years to come.

The growth is primarily because food & beverage companies are having a strong reputation in the export market, with grain, meat, seafood, and horticulture, being the most preferred goods.

Maintaining processing settings properly clean and cooled is a fundamental necessity for food production.

Cooling was the largest contributor to the industry in 2023, with over 60% share. The category is also powering at the fastest compound annual growth rate.

The largest share of the cooling category is mainly because of the sub-tropical climate conditions in most of the areas in these nations.

Environmental factors like global warming as well as increasing pollution are also aiding the rising need for power-efficient cooling devices.

As air conditioning or cooling is progressively becoming a necessity, air conditioner (AC) manufacturing firms are constantly working on offering economical and more effective systems, which, in line, is providing continuous development to this industry.

The Australian and New Zealand HVAC industry is competitive. This is because of the existence of established HVAC companies as well as an increasing count of regional firms.

The key companies in this industry are involved in mergers & acquisitions, product launches, and various other developments, in order to enhance their presence in the market.