HVAC System Market by Cooling, Heating, Ventilation, Technology, Service

Description

List of Tables

The HVAC system market is projected to grow from USD 299.28 billion in 2025 to USD 407.77 billion by 2030, growing at a CAGR of 6.4% from 2025 to 2030. The HVAC industry has experienced significant advancements in recent years, leading to a surge in demand for innovative HVAC systems.

Scope of the Report
Years Considered for the Study	2021-2030
Base Year	2024
Forecast Period	2025-2030
Units Considered	Value (USD Billion)
Segments	By Heating Equipment, Cooling Equipment, Ventilation Equipment, Technology, Implementation Type, Service Type, End User, and Region
Regions covered	North America, Europe, APAC, RoW

Several factors have driven these advancements, including the growing need for energy efficiency, improved indoor air quality, and the desire for smarter, more connected systems. Smart HVAC systems use sensors and advanced algorithms to monitor indoor and outdoor conditions, adjust system settings in real time, and provide users with detailed analytics on energy usage and system performance.

"The new construction buildings segment accounts for the largest market share during the forecast period."

Government involvement is pivotal in the HVAC market, as it encourages the adoption of HVAC systems to support urbanization while enforcing regulatory compliance. The growing emphasis on energy efficiency and environmentally friendly building practices, such as deployment of high-efficiency HVAC equipment, adoption of VRF systems, integration of smart thermostats and building automation controls, use of advanced air filtration, and incorporation of renewable energy-powered heating and cooling, has resulted in stricter standards, including ASHRAE Standard 90.1, which defines energy efficiency requirements for US buildings.

"The air handling unit segment is projected to register the highest CAGR during the forecast period."

The air handling unit (AHU) segment is projected to record the highest CAGR in the overall HVAC system market due to rising demand for improved indoor air quality, energy-efficient ventilation, and compliance with stricter air quality standards. Increasing construction of commercial spaces and healthcare facilities further drives the adoption of AHUs for effective air distribution and filtration.

"China is estimated to account for the largest share of the Asia Pacific HVAC system market in 2025."

China is the largest market for HVAC system in Asia Pacific. The market in the country is driven by rapid urbanization, massive infrastructure and residential construction projects, and a growing middle-class population demanding modern comfort solutions. Supportive government policies promoting energy-efficient technologies, along with rising temperatures and increased adoption of air conditioning systems, are further fueling the robust growth of China's HVAC market.

By Company Type: Tier 1-35%, Tier 2-30%, and Tier 3-35%
By Designation: C-level Executives-35%, D-level Executives-40%, and Others-25%
By Region: North America-25%, Europe-35%, Asia Pacific-30%, and RoW-10%

Prominent players profiled in this report include Carrier (US), DAIKIN INDUSTRIES, Ltd. (Japan), LG Electronics (South Korea), Lennox International Inc. (US), Midea (China), Johnson Controls (Ireland), Trane Technologies plc (Ireland), Honeywell International Inc. (US), Mitsubishi Electric Corporation (Japan), SAMSUNG (South Korea), GREE ELECTRIC APPLIANCES, INC. OF ZHUHAI (China), Fujitsu General (Japan), Panasonic Holdings Corporation (Japan), Robert Bosch Group (Germany), and Modine (US).

Research Coverage:

The report defines, describes, and forecasts the HVAC system market based on cooling equipment (unitary air conditioners, VRF systems, chillers, room air conditioners, coolers, and cooling towers), heating equipment (heat pumps, furnaces, boilers, and unitary heaters), ventilation equipment (air-handling units, air filters, dehumidifiers, ventilation fans, humidifiers, air purifiers), technology (traditional HVAC systems, smart HVAC systems, and sustainable/green HVAC systems), implementation type (new construction buildings, retrofit buildings), service type (installation services, maintenance & repair services, upgradation/replacement services, and consulting services), end user (commercial, residential, and industrial), and region (North America, Europe, Asia Pacific, and RoW). It provides detailed information regarding drivers, restraints, opportunities, and challenges influencing the market's growth. It also analyzes competitive developments such as acquisitions, product launches, expansions, and actions carried out by the key players to grow in the market.

Reasons to Buy This Report

The report will help the market leaders/new entrants with information on the closest approximations of the revenue for the overall HVAC system market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insight to position their business better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market's pulse and provides information on key drivers, restraints, opportunities, and challenges.

The report will provide insights into the following points:

Analysis of key drivers (Increasing demand for energy-efficient HVAC systems), restraints (Rising expenses for installing, servicing, and maintaining HVAC systems), opportunities (Swift evolution of IoT within HVAC industry), and challenges (Lack of awareness about benefits of HVAC systems in developing countries) of the HVAC system market
Product development /innovation: Detailed insights into upcoming technologies, research & development activities, and new product launches in the HVAC system market
Market development: Comprehensive information about lucrative markets; the report analyses the HVAC system market across various regions
Market diversification: Exhaustive information about new products launched, untapped geographies, recent developments, and investments in the HVAC system market
Competitive Assessment: In-depth assessment of market share, growth strategies, and offering of leading players, including Carrier (US), DAIKIN INDUSTRIES, Ltd. (Japan), LG Electronics (South Korea), Midea (China), and Trane Technologies plc (Ireland) in the HVAC system market.

Product Code: SE 4420

1 INTRODUCTION

1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
- 1.3.1 MARKETS COVERED
- 1.3.2 INCLUSIONS AND EXCLUSIONS
- 1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 UNITS CONSIDERED
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY

2.1 RESEARCH DATA
- 2.1.1 SECONDARY DATA
  - 2.1.1.1 List of major secondary sources
  - 2.1.1.2 Key data from secondary sources
- 2.1.2 PRIMARY DATA
  - 2.1.2.1 List of major participants in primary interviews
  - 2.1.2.2 Key data from primary sources
  - 2.1.2.3 Breakdown of primaries
  - 2.1.2.4 Key industry insights
- 2.1.3 SECONDARY AND PRIMARY RESEARCH
2.2 MARKET SIZE ESTIMATION
- 2.2.1 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS
- 2.2.2 BOTTOM-UP APPROACH
  - 2.2.2.1 Approach for arriving at market size using bottom-up analysis
- 2.2.3 TOP-DOWN APPROACH
  - 2.2.3.1 Approach for arriving at market size using top-down analysis
2.3 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
2.5 RISK ASSESSMENT
2.6 LIMITATIONS OF RESEARCH

3 EXECUTIVE SUMMARY

4 PREMIUM INSIGHTS

4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HVAC SYSTEM (EQUIPMENT + SERVICE) MARKET
4.2 NORTH AMERICA: HVAC SYSTEM MARKET, BY COUNTRY AND EQUIPMENT TYPE
4.3 HVAC SYSTEM MARKET IN COMMERCIAL END USER, BY TYPE
4.4 HVAC SYSTEM MARKET, BY REGION

5 MARKET OVERVIEW

5.1 INTRODUCTION
5.2 MARKET DYNAMICS
- 5.2.1 DRIVERS
  - 5.2.1.1 Increasing demand for energy-efficient HVAC systems
  - 5.2.1.2 Increased construction activities in residential and industrial sectors
  - 5.2.1.3 Government policies and incentives promoting energy efficiency and natural resource conservation
  - 5.2.1.4 Growing demand for indoor and outdoor air quality
  - 5.2.1.5 Advancements in HVAC systems
- 5.2.2 RESTRAINTS
  - 5.2.2.1 Rising expenses for installing, servicing, and maintaining HVAC systems
  - 5.2.2.2 Limited space for large HVAC installations in commercial and residential buildings
  - 5.2.2.3 Insufficient technical expertise and shortage of skilled labor
- 5.2.3 OPPORTUNITIES
  - 5.2.3.1 Swift evolution of IoT within HVAC industry
  - 5.2.3.2 Significant traction of VRF systems in residential and commercial applications
  - 5.2.3.3 Growing emphasis on next-generation low-GWP refrigerants for HVAC systems
- 5.2.4 CHALLENGES
  - 5.2.4.1 Lack of awareness about benefits of HVAC systems in developing countries
  - 5.2.4.2 Increasing environmental concerns and aging infrastructure
5.3 VALUE CHAIN ANALYSIS
5.4 ECOSYSTEM ANALYSIS
5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.6 PRICING ANALYSIS
- 5.6.1 AVERAGE SELLING PRICE OF HVAC SYSTEM EQUIPMENT, BY KEY END USERS
- 5.6.2 AVERAGE SELLING PRICE TREND OF HVAC SYSTEM EQUIPMENT, BY REGION
5.7 TECHNOLOGY ANALYSIS
- 5.7.1 KEY TECHNOLOGIES
  - 5.7.1.1 Air conditioning units
  - 5.7.1.2 Heating units
  - 5.7.1.3 Ventilation systems
- 5.7.2 COMPLEMENTARY TECHNOLOGIES
  - 5.7.2.1 Sensors
  - 5.7.2.2 Building automation systems
- 5.7.3 ADJACENT TECHNOLOGIES
  - 5.7.3.1 Software technologies
  - 5.7.3.2 HVAC systems running on renewable energy
5.8 PORTER'S FIVE FORCES ANALYSIS
- 5.8.1 INTENSITY OF COMPETITIVE RIVALRY
- 5.8.2 BARGAINING POWER OF SUPPLIERS
- 5.8.3 BARGAINING POWER OF BUYERS
- 5.8.4 THREAT OF SUBSTITUTES
- 5.8.5 THREAT OF NEW ENTRANTS
5.9 KEY STAKEHOLDERS AND BUYING CRITERIA
- 5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS
- 5.9.2 BUYING CRITERIA
5.10 CASE STUDY ANALYSIS
- 5.10.1 ERIKS ADVANCES ENERGY EFFICIENCY WITH LG ELECTRONICS AI-DRIVEN VRF SOLUTION
- 5.10.2 MITSUBISHI ELECTRIC CORPORATION ADVANCES CITY MULTI VRF ZONING SYSTEMS, HEAT2O HEAT PUMP WATER HEATER SYSTEMS, AND INTEGRATED CONTROLS
- 5.10.3 AC CONDENSER REPLACEMENT BY TOWNSEND ENERGY
- 5.10.4 INSTALLATION OF DUCTLESS MINI-SPLIT SYSTEM FOR SUPPLEMENTAL HEATING AND COOLING BY NETR.
- 5.10.5 TEMPERATURE CONTROL SOLUTION FOR RAILWAY CONTROL SYSTEM BY DAIKIN
- 5.10.6 MULTIPLE LG HIGH STATIC DUCTED SINGLE-ZONE UNITS PROVIDE EVEN TEMPERATURE YEAR-ROUND IN LARGE OPEN WAREHOUSE IN SOUTH GEORGIA
5.11 INVESTMENT AND FUNDING SCENARIO
5.12 TRADE ANALYSIS
- 5.12.1 IMPORT SCENARIO
- 5.12.2 EXPORT SCENARIO
5.13 PATENT ANALYSIS
5.14 KEY CONFERENCES AND EVENTS
5.15 REGULATORY LANDSCAPE
- 5.15.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
- 5.15.2 STANDARDS AND REGULATIONS
  - 5.15.2.1 Standards
  - 5.15.2.2 Regulations
5.16 IMPACT OF GEN AI ON HVAC SYSTEM MARKET
- 5.16.1 INTRODUCTION
5.17 IMPACT OF 2025 US TARIFFS ON HVAC SYSTEM MARKET
- 5.17.1 INTRODUCTION
- 5.17.2 KEY TARIFF RATES
- 5.17.3 PRICE IMPACT ANALYSIS
- 5.17.4 IMPACT ON COUNTRIES/REGIONS
  - 5.17.4.1 US
  - 5.17.4.2 Europe
  - 5.17.4.3 Asia Pacific
- 5.17.5 IMPACT ON END-USE INDUSTRIES

6 HVAC SYSTEM MARKET, BY COOLING EQUIPMENT

6.1 INTRODUCTION
6.2 UNITARY AIR CONDITIONERS
- 6.2.1 LOW INITIAL COST AND EASE OF INSTALLATION TO DRIVE DEMAND
- 6.2.2 DIFFERENCES IN AIR CONDITIONER STYLES, BY REGION
  - 6.2.2.1 Split air conditioners
  - 6.2.2.2 Packaged air conditioners
6.3 VRF SYSTEMS
- 6.3.1 GROWING DEMAND FOR ENERGY-EFFICIENT AND FLEXIBLE HVAC SOLUTIONS TO DRIVE MARKET
6.4 CHILLERS
- 6.4.1 INCREASING INFRASTRUCTURE DEVELOPMENT AND RAPID EXPANSION OF DATA CENTERS FUELING DEMAND
  - 6.4.1.1 Scroll chillers
  - 6.4.1.2 Screw chillers
  - 6.4.1.3 Centrifugal chillers
  - 6.4.1.4 Reciprocating chillers
  - 6.4.1.5 Absorption chillers
6.5 ROOM AIR CONDITIONERS
- 6.5.1 INCREASING RESIDENTIAL COOLING NEEDS TO DRIVE STRONG DEMAND
6.6 COOLERS
- 6.6.1 DEMAND FOR LOW-COST, ENERGY-EFFICIENT, AND ECO-FRIENDLY COOLING SOLUTIONS TO FUEL GROWTH
  - 6.6.1.1 Ducted coolers
  - 6.6.1.2 Window coolers
6.7 COOLING TOWERS
- 6.7.1 RISING NEED FOR EFFICIENT COOLING IN INDUSTRIAL PROCESSES TO DRIVE DEMAND
  - 6.7.1.1 Evaporative cooling towers
  - 6.7.1.2 Dry cooling towers
  - 6.7.1.3 Hybrid cooling towers

7 HVAC SYSTEM MARKET, BY HEATING EQUIPMENT

7.1 INTRODUCTION
7.2 HEAT PUMPS
- 7.2.1 RISING DEMAND FOR LOW-CARBON HEATING SOLUTIONS TO PROPEL MARKET GROWTH
- 7.2.2 AIR-SOURCE HEAT PUMPS
  - 7.2.2.1 Ducted
  - 7.2.2.2 Ductless/Minisplit
- 7.2.3 WATER-SOURCE HEAT PUMPS
- 7.2.4 GROUND-SOURCE/GEOTHERMAL HEAT PUMPS
- 7.2.5 ADVANCED HEAT PUMP TECHNOLOGIES
  - 7.2.5.1 Staged/Multi-speed compressors
  - 7.2.5.2 Dual-speed motors
  - 7.2.5.3 Desuperheater
  - 7.2.5.4 Dual fuel/hybrid systems
  - 7.2.5.5 Cold climate heat pumps
7.3 FURNACES
- 7.3.1 GROWING DEMAND FOR ENERGY-EFFICIENT HEATING SOLUTIONS TO FUEL ADOPTION
  - 7.3.1.1 Oil furnaces
  - 7.3.1.2 Gas furnaces
  - 7.3.1.3 Electric furnaces
7.4 UNITARY HEATERS
- 7.4.1 ENERGY EFFICIENCY AND COST-EFFECTIVENESS TO BOOST DEMAND
  - 7.4.1.1 Gas unit heaters
  - 7.4.1.2 Oil-fired unit heaters
  - 7.4.1.3 Electric unit heaters
7.5 BOILERS
- 7.5.1 GROWING FOCUS ON SUSTAINABILITY TO BOOST MARKET GROWTH
  - 7.5.1.1 Steam boilers
  - 7.5.1.2 Hot water boilers

8 HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT

8.1 INTRODUCTION
8.2 AIR-HANDLING UNITS
- 8.2.1 USE OF VARIABLE FREQUENCY DRIVES IN AIR-HANDLING UNITS FOR MOTOR SPEED CONTROL TO DRIVE DEMAND
8.3 AIR FILTERS
- 8.3.1 RISING DEMAND FOR CLEANER INDOOR ENVIRONMENTS TO BOOST MARKET
8.4 DEHUMIDIFIERS
- 8.4.1 STRINGENT GOVERNMENT REGULATIONS PROMOTING ENERGY-EFFICIENT APPLIANCES TO PROPEL MARKET GROWTH
  - 8.4.1.1 Refrigeration dehumidifiers
  - 8.4.1.2 Absorption dehumidifiers
8.5 VENTILATION FANS
- 8.5.1 INCREASING TEMPERATURES AND HUMIDITY LEVELS TO BOOST DEMAND FOR VENTILATION FANS
  - 8.5.1.1 Crossflow fans
  - 8.5.1.2 Axial fans
  - 8.5.1.3 Centrifugal fans
  - 8.5.1.4 Domestic fans
  - 8.5.1.5 Range hood fans
  - 8.5.1.6 Power roof fans
8.6 HUMIDIFIERS
- 8.6.1 RISING INDOOR AIR POLLUTION AND CHANGING CLIMATE CONDITIONS TO ACCELERATE MARKET GROWTH
  - 8.6.1.1 Warm-mist humidifiers
  - 8.6.1.2 Ultrasonic humidifiers
  - 8.6.1.3 Cool-mist humidifiers
8.7 AIR PURIFIERS
- 8.7.1 RISING CONCERNS OVER INDOOR AIR POLLUTION AND HEALTH SAFETY TO DRIVE MARKET
  - 8.7.1.1 HEPA air purifiers
  - 8.7.1.2 Activated carbon air purifiers
  - 8.7.1.3 Electrostatic air purifiers
  - 8.7.1.4 Ionic air purifiers

9 HVAC SYSTEM MARKET, BY TECHNOLOGY

9.1 INTRODUCTION
9.2 TRADITIONAL HVAC SYSTEMS
- 9.2.1 GROWING DEMAND FOR ZONE-SPECIFIC COMFORT SOLUTIONS TO DRIVE ADOPTION
9.3 SMART HVAC SYSTEMS
- 9.3.1 INTEGRATION OF IOT AND ENERGY REGULATIONS TO DRIVE MARKET GROWTH
- 9.3.2 SMART HEATING & COOLING: FUTURE OUTLOOK
  - 9.3.2.1 Remote monitoring & control
  - 9.3.2.2 Smart zoning systems
  - 9.3.2.3 Occupancy-based heating & cooling
  - 9.3.2.4 Energy optimization
  - 9.3.2.5 Heating & cooling system diagnostics
  - 9.3.2.6 AI/ML integration
- 9.3.3 SMART VENTILATION: FUTURE OUTLOOK
  - 9.3.3.1 Automated air-flow control
  - 9.3.3.2 Demand-controlled ventilation
  - 9.3.3.3 Integration with building automation systems
9.4 SUSTAINABLE/GREEN HVAC SYSTEM
- 9.4.1 INCREASING DEMAND FOR LOW-CARBON BUILDINGS TO ACCELERATE DEMAND
- 9.4.2 SUSTAINABLE HEATING SYSTEMS: FUTURE OUTLOOK
  - 9.4.2.1 Solar-based heating
  - 9.4.2.2 Geothermal heat pumps
  - 9.4.2.3 Biomass heating systems
  - 9.4.2.4 Low-emission furnaces
  - 9.4.2.5 Electric heating systems
  - 9.4.2.6 Hydronic heating systems
  - 9.4.2.7 Dual fuel heat pump
- 9.4.3 SUSTAINABLE COOLING SYSTEMS: FUTURE OUTLOOK
  - 9.4.3.1 Inverter-based air conditioning
  - 9.4.3.2 Cooling using waste heat
  - 9.4.3.3 VRF systems with low-GWP refrigerants
  - 9.4.3.4 Solar-based cooling
- 9.4.4 SUSTAINABLE VENTILATION SYSTEMS: FUTURE OUTLOOK
  - 9.4.4.1 Energy recovery ventilators
  - 9.4.4.2 Low-energy DC ventilation fans
  - 9.4.4.3 Eco-friendly air purifiers
  - 9.4.4.4 HEPA & reusable air filters
  - 9.4.4.5 Airflow optimization systems

10 HVAC SYSTEM MARKET, BY IMPLEMENTATION TYPE

10.1 INTRODUCTION
10.2 NEW CONSTRUCTION BUILDINGS
- 10.2.1 GOVERNMENT INITIATIVES FOR ECO-FRIENDLY BUILDINGS TO DRIVE MARKET GROWTH
10.3 RETROFIT BUILDINGS
- 10.3.1 GREEN BUILDING INITIATIVE TO BOOST MARKET GROWTH

11 HVAC SYSTEM MARKET, BY SERVICE TYPE

11.1 INTRODUCTION
11.2 INSTALLATION SERVICES
- 11.2.1 RISING DEMAND FOR ENERGY-EFFICIENT SYSTEMS AND PROFESSIONAL INSTALLATION SERVICES TO DRIVE DEMAND
11.3 MAINTENANCE & REPAIR SERVICES
- 11.3.1 NEED FOR TIMELY MAINTENANCE AND REPAIRS TO GUARANTEE RELIABLE COMFORT AND PERFORMANCE TO DRIVE GROWTH
11.4 UPGRADATION/REPLACEMENT SERVICES
- 11.4.1 INCREASING NEED FOR ENERGY-EFFICIENT BUILDINGS TO PROPEL ADOPTION
11.5 CONSULTING SERVICES
- 11.5.1 INCREASING DEMAND FOR CUSTOMIZED HVAC DESIGN SOLUTIONS TO FUEL GROWTH

12 HVAC SYSTEM MARKET, BY END USER

12.1 INTRODUCTION
12.2 COMMERCIAL
- 12.2.1 INCREASING ADOPTION OF ENERGY-EFFICIENT EQUIPMENT TO ACCELERATE GROWTH
  - 12.2.1.1 Offices
  - 12.2.1.2 Government buildings
  - 12.2.1.3 Healthcare
  - 12.2.1.4 Education
  - 12.2.1.5 Retail
  - 12.2.1.6 Airports
  - 12.2.1.7 Data centers
12.3 RESIDENTIAL
- 12.3.1 GOVERNMENT INCENTIVES AND ENERGY EFFICIENCY REGULATIONS DRIVING ADOPTION OF RESIDENTIAL HVAC SYSTEMS
12.4 INDUSTRIAL
- 12.4.1 DEMAND FOR ENERGY-EFFICIENT HVAC SYSTEMS INCREASING IN INDUSTRIAL SPACES TO REDUCE OPERATIONAL COSTS
  - 12.4.1.1 Manufacturing facilities
  - 12.4.1.2 Warehouses
  - 12.4.1.3 Power plants

13 HVAC SYSTEM MARKET, BY REGION

13.1 INTRODUCTION
13.2 NORTH AMERICA
- 13.2.1 MACROECONOMIC OUTLOOK FOR NORTH AMERICA
- 13.2.2 US
  - 13.2.2.1 Increasing government initiatives and construction of energy-efficient buildings to drive market
- 13.2.3 CANADA
  - 13.2.3.1 Government incentives for renewable heating and cooling to boost market
- 13.2.4 MEXICO
  - 13.2.4.1 Increasing government rebates to propel market growth
13.3 EUROPE
- 13.3.1 MACROECONOMIC OUTLOOK FOR EUROPE
- 13.3.2 UK
  - 13.3.2.1 Government-backed net-zero emission targets to accelerate market growth
- 13.3.3 GERMANY
  - 13.3.3.1 Government-funded energy research and renovation incentives to bolster market growth
- 13.3.4 FRANCE
  - 13.3.4.1 Rising focus on reducing greenhouse gases to drive market
- 13.3.5 SPAIN
  - 13.3.5.1 Regulatory reforms to drive market growth
- 13.3.6 ITALY
  - 13.3.6.1 Government-backed retrofit incentives to drive market
- 13.3.7 POLAND
  - 13.3.7.1 EU-aligned clean energy targets to drive market
- 13.3.8 NORDICS
  - 13.3.8.1 Rising consumer demand for sustainable home heating technologies to propel market growth
- 13.3.9 REST OF EUROPE
13.4 ASIA PACIFIC
- 13.4.1 MACROECONOMIC OUTLOOK FOR ASIA PACIFIC
- 13.4.2 CHINA
  - 13.4.2.1 Rising industrialization and urbanization to drive market growth
- 13.4.3 JAPAN
  - 13.4.3.1 Stricter energy efficiency standards to foster market growth
- 13.4.4 INDIA
  - 13.4.4.1 Rising focus on energy conservation to bolster market growth
- 13.4.5 SOUTH KOREA
  - 13.4.5.1 Increasing awareness about energy conservation to bolster adoption
- 13.4.6 AUSTRALIA
  - 13.4.6.1 Increasing sustainable construction practices to drive market demand
- 13.4.7 INDONESIA
  - 13.4.7.1 Rising industrialization fueling market growth
- 13.4.8 MALAYSIA
  - 13.4.8.1 Increasing government incentives to support market growth
- 13.4.9 THAILAND
  - 13.4.9.1 Strong export capacity to increase demand during forecast period
- 13.4.10 VIETNAM
  - 13.4.10.1 Growing hospitality and tourism sectors to drive market growth
- 13.4.11 REST OF ASIA PACIFIC
13.5 REST OF THE WORLD (ROW)
- 13.5.1 MACROECONOMIC OUTLOOK FOR REST OF THE WORLD
- 13.5.2 SOUTH AMERICA
  - 13.5.2.1 Rising infrastructure investment to propel market growth
- 13.5.3 MIDDLE EAST
  - 13.5.3.1 Stringent regulations for enhancing energy performance of buildings to drive market
  - 13.5.3.2 Bahrain
  - 13.5.3.3 Kuwait
  - 13.5.3.4 Oman
  - 13.5.3.5 Qatar
  - 13.5.3.6 Saudi Arabia
  - 13.5.3.7 United Arab Emirates (UAE)
  - 13.5.3.8 Rest of Middle East
- 13.5.4 AFRICA
  - 13.5.4.1 Rapid urbanization to drive market growth
  - 13.5.4.2 South Africa
  - 13.5.4.3 Other African countries

14 COMPETITIVE LANDSCAPE

14.1 OVERVIEW
14.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, JUNE 2022-JULY 2025
14.3 REVENUE ANALYSIS, 2020-2024
14.4 MARKET SHARE ANALYSIS, 2024
14.5 COMPANY VALUATION AND FINANCIAL METRICS, 2024
14.6 BRAND/PRODUCT COMPARISON
14.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024
- 14.7.1 STARS
- 14.7.2 EMERGING LEADERS
- 14.7.3 PERVASIVE PLAYERS
- 14.7.4 PARTICIPANTS
- 14.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024
  - 14.7.5.1 Company footprint
  - 14.7.5.2 Region footprint
  - 14.7.5.3 Equipment footprint
  - 14.7.5.4 Implementation type footprint
  - 14.7.5.5 Service type footprint
  - 14.7.5.6 End user footprint
14.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024
- 14.8.1 PROGRESSIVE COMPANIES
- 14.8.2 RESPONSIVE COMPANIES
- 14.8.3 DYNAMIC COMPANIES
- 14.8.4 STARTING BLOCKS
- 14.8.5 COMPETITIVE BENCHMARKING: KEY STARTUPS/SMES, 2024
  - 14.8.5.1 Detailed list of startups/SMEs
  - 14.8.5.2 Competitive benchmarking of key startups/SMEs
14.9 COMPETITIVE SCENARIO
- 14.9.1 PRODUCT LAUNCHES
- 14.9.2 DEALS

15 COMPANY PROFILES

15.1 KEY PLAYERS
- 15.1.1 CARRIER
  - 15.1.1.1 Business overview
  - 15.1.1.2 Products/Solutions/Services offered
  - 15.1.1.3 Recent developments
    - 15.1.1.3.1 Product/Service launches
    - 15.1.1.3.2 Deals
  - 15.1.1.4 MnM view
    - 15.1.1.4.1 Key strengths
    - 15.1.1.4.2 Strategic choices
    - 15.1.1.4.3 Weaknesses and competitive threats
- 15.1.2 DAIKIN INDUSTRIES, LTD.
  - 15.1.2.1 Business overview
  - 15.1.2.2 Products/Solutions/Services offered
  - 15.1.2.3 Recent developments
    - 15.1.2.3.1 Product launches
    - 15.1.2.3.2 Deals
  - 15.1.2.4 MnM view
    - 15.1.2.4.1 Key strengths
    - 15.1.2.4.2 Strategic choices
    - 15.1.2.4.3 Weaknesses and competitive threats
- 15.1.3 LG ELECTRONICS
  - 15.1.3.1 Business overview
  - 15.1.3.2 Products/Solutions/Services offered
  - 15.1.3.3 Recent developments
    - 15.1.3.3.1 Product/Service launches
  - 15.1.3.4 MnM view
    - 15.1.3.4.1 Key strengths
    - 15.1.3.4.2 Strategic choices
    - 15.1.3.4.3 Weaknesses and competitive threats
- 15.1.4 MIDEA
  - 15.1.4.1 Business overview
  - 15.1.4.2 Products/Solutions/Services offered
  - 15.1.4.3 Recent developments
    - 15.1.4.3.1 Product/Service launches
    - 15.1.4.3.2 Deals
  - 15.1.4.4 MnM view
    - 15.1.4.4.1 Key strengths
    - 15.1.4.4.2 Strategic choices
    - 15.1.4.4.3 Weaknesses and competitive threats
- 15.1.5 TRANE TECHNOLOGIES PLC
  - 15.1.5.1 Business overview
  - 15.1.5.2 Products/Solutions/Services offered
  - 15.1.5.3 Recent developments
    - 15.1.5.3.1 Product/Service launches
    - 15.1.5.3.2 Deals
  - 15.1.5.4 MnM view
    - 15.1.5.4.1 Key strengths
    - 15.1.5.4.2 Strategic choices
    - 15.1.5.4.3 Weaknesses and competitive threats
- 15.1.6 LENNOX INTERNATIONAL INC.
  - 15.1.6.1 Business overview
  - 15.1.6.2 Products/Solutions/Services offered
  - 15.1.6.3 Recent developments
    - 15.1.6.3.1 Product/Service launches
    - 15.1.6.3.2 Deals
- 15.1.7 JOHNSON CONTROLS
  - 15.1.7.1 Business overview
  - 15.1.7.2 Products/Solutions/Services offered
  - 15.1.7.3 Recent developments
    - 15.1.7.3.1 Product/Service launches
    - 15.1.7.3.2 Deals
- 15.1.8 HONEYWELL INTERNATIONAL INC.
  - 15.1.8.1 Business overview
  - 15.1.8.2 Products/Solutions/Services offered
  - 15.1.8.3 Recent developments
    - 15.1.8.3.1 Deals
- 15.1.9 MITSUBISHI ELECTRIC CORPORATION
  - 15.1.9.1 Business overview
  - 15.1.9.2 Products/Solutions/Services offered
  - 15.1.9.3 Recent developments
    - 15.1.9.3.1 Product/Service launches
    - 15.1.9.3.2 Deals
- 15.1.10 SAMSUNG
  - 15.1.10.1 Business overview
  - 15.1.10.2 Products/Solutions/Services offered
  - 15.1.10.3 Recent developments
    - 15.1.10.3.1 Product/Service launches
- 15.1.11 GREE ELECTRIC APPLIANCES, INC. OF ZHUHAI
  - 15.1.11.1 Business overview
  - 15.1.11.2 Products/Solutions/Services offered
- 15.1.12 FUJITSU GENERAL
  - 15.1.12.1 Business overview
  - 15.1.12.2 Products/Solutions/Services offered
  - 15.1.12.3 Recent developments
    - 15.1.12.3.1 Product/Service launches
- 15.1.13 PANASONIC HOLDINGS CORPORATION
  - 15.1.13.1 Business overview
  - 15.1.13.2 Products/Solutions/Services offered
  - 15.1.13.3 Recent developments
    - 15.1.13.3.1 Product/Service launches
    - 15.1.13.3.2 Deals
- 15.1.14 ROBERT BOSCH GMBH
  - 15.1.14.1 Business overview
  - 15.1.14.2 Products/Solutions/Services offered
  - 15.1.14.3 Recent developments
    - 15.1.14.3.1 Product/Service launches
    - 15.1.14.3.2 Deals
- 15.1.15 MODINE
  - 15.1.15.1 Business overview
  - 15.1.15.2 Products/Solutions/Services offered
  - 15.1.15.3 Recent developments
    - 15.1.15.3.1 Deals
15.2 OTHER PLAYERS
- 15.2.1 HAIER GROUP
- 15.2.2 SYSTEMAIR AB
- 15.2.3 AAON
- 15.2.4 WHIRLPOOL CORPORATION
- 15.2.5 ELECTROLUX
- 15.2.6 FERROLI
- 15.2.7 VAILLANT GROUP
- 15.2.8 RHEEM MANUFACTURING COMPANY
- 15.2.9 AMERICAN STANDARD HEATING AND AIR CONDITIONING
- 15.2.10 WM TECHNOLOGIES LLC

16 APPENDIX

16.1 DISCUSSION GUIDE
16.2 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
16.3 CUSTOMIZATION OPTIONS
16.4 RELATED REPORTS
16.5 AUTHOR DETAILS

Product Code: SE 4420

List of Tables

TABLE 1 RISK FACTOR ANALYSIS
TABLE 2 HVAC SYSTEM MARKET: ROLE OF PLAYERS IN ECOSYSTEM
TABLE 3 AVERAGE SELLING PRICES OF HVAC SYSTEM EQUIPMENT, BY END USER (USD)
TABLE 4 AVERAGE SELLING PRICES OF COOLING EQUIPMENT, BY REGION, 2021-2024
TABLE 5 AVERAGE SELLING PRICES OF HEATING EQUIPMENT, BY REGION, 2021-2024
TABLE 6 AVERAGE SELLING PRICES OF VENTILATION EQUIPMENT, BY REGION, 2021-2024
TABLE 7 HVAC SYSTEM MARKET: PORTER'S FIVE FORCES ANALYSIS
TABLE 8 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR END USERS
TABLE 9 KEY BUYING CRITERIA FOR END USERS
TABLE 10 IMPORT DATA FOR HS CODE 8415-COMPLIANT PRODUCTS FOR TOP 10 COUNTRIES, 2020-2024 (USD MILLION)
TABLE 11 EXPORT DATA FOR HS CODE 8415-COMPLIANT PRODUCTS FOR TOP 10 COUNTRIES, 2020-2024 (USD MILLION)
TABLE 12 HVAC SYSTEM MARKET: LIST OF PATENTS, 2024
TABLE 13 HVAC SYSTEM MARKET: LIST OF CONFERENCES AND EVENTS, 2025-2026
TABLE 14 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 15 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 16 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 17 REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 18 US-ADJUSTED RECIPROCAL TARIFF RATES, 2024
TABLE 19 EXPECTED CHANGE IN PRICES AND IMPACT ON END-USE MARKET DUE TO TARIFFS
TABLE 20 HVAC SYSTEM MARKET, BY COOLING EQUIPMENT, 2021-2024 (USD BILLION)
TABLE 21 HVAC SYSTEM MARKET, BY COOLING EQUIPMENT, 2025-2030 (USD BILLION)
TABLE 22 HVAC SYSTEM MARKET, BY COOLING EQUIPMENT, 2021-2024 (MILLION UNITS)
TABLE 23 HVAC SYSTEM MARKET, BY COOLING EQUIPMENT, 2025-2030 (MILLION UNITS)
TABLE 24 COOLING EQUIPMENT: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 25 COOLING EQUIPMENT: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 26 COOLING EQUIPMENT: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 27 COOLING EQUIPMENT: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 28 NORTH AMERICA: HVAC SYSTEM MARKET (COOLING EQUIPMENT), BY COUNTRY, 2021-2024 (USD BILLION)
TABLE 29 NORTH AMERICA: HVAC SYSTEM MARKET (COOLING EQUIPMENT), BY COUNTRY, 2025-2030 (USD BILLION)
TABLE 30 EUROPE: HVAC SYSTEM MARKET (COOLING EQUIPMENT), BY COUNTRY, 2021-2024 (USD BILLION)
TABLE 31 EUROPE: HVAC SYSTEM MARKET (COOLING EQUIPMENT), BY COUNTRY, 2025-2030 (USD BILLION)
TABLE 32 ASIA PACIFIC: HVAC SYSTEM MARKET (COOLING EQUIPMENT), BY COUNTRY, 2021-2024 (USD BILLION)
TABLE 33 ASIA PACIFIC: HVAC SYSTEM MARKET (COOLING EQUIPMENT), BY COUNTRY, 2025-2030 (USD BILLION)
TABLE 34 ROW: HVAC SYSTEM MARKET (COOLING EQUIPMENT), BY REGION, 2021-2024 (USD BILLION)
TABLE 35 ROW: HVAC SYSTEM MARKET (COOLING EQUIPMENT), BY REGION, 2025-2030 (USD BILLION)
TABLE 36 UNITARY AIR CONDITIONERS: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 37 UNITARY AIR CONDITIONERS: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 38 UNITARY AIR CONDITIONERS: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 39 UNITARY AIR CONDITIONERS: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 40 VRF SYSTEMS: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 41 VRF SYSTEMS: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 42 VRF SYSTEMS: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 43 VRF SYSTEMS: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 44 CHILLERS: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 45 CHILLERS: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 46 CHILLERS: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 47 CHILLERS: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 48 ROOM AIR CONDITIONERS: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 49 ROOM AIR CONDITIONERS: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 50 ROOM AIR CONDITIONERS: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 51 ROOM AIR CONDITIONERS: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 52 COOLERS: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 53 COOLERS: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 54 COOLERS: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 55 COOLERS: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 56 COOLING TOWERS: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 57 COOLING TOWERS: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 58 COOLING TOWERS: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 59 COOLING TOWERS: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 60 HVAC SYSTEM MARKET, BY HEATING EQUIPMENT, 2021-2024 (USD BILLION)
TABLE 61 HVAC SYSTEM MARKET, BY HEATING EQUIPMENT, 2025-2030 (USD BILLION)
TABLE 62 HVAC SYSTEM MARKET, BY HEATING EQUIPMENT, 2021-2024 (MILLION UNITS)
TABLE 63 HVAC SYSTEM MARKET, BY HEATING EQUIPMENT, 2025-2030 (MILLION UNITS)
TABLE 64 HEATING EQUIPMENT: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 65 HEATING EQUIPMENT: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 66 HEATING EQUIPMENT: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 67 HEATING EQUIPMENT: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 68 NORTH AMERICA: HVAC SYSTEM MARKET (HEATING EQUIPMENT), BY COUNTRY, 2021-2024 (USD BILLION)
TABLE 69 NORTH AMERICA: HVAC SYSTEM MARKET (HEATING EQUIPMENT), BY COUNTRY, 2025-2030 (USD BILLION)
TABLE 70 EUROPE: HVAC SYSTEM MARKET (HEATING EQUIPMENT), BY COUNTRY, 2021-2024 (USD BILLION)
TABLE 71 EUROPE: HVAC SYSTEM MARKET (HEATING EQUIPMENT), BY COUNTRY, 2025-2030 (USD BILLION)
TABLE 72 ASIA PACIFIC: HVAC SYSTEM MARKET (HEATING EQUIPMENT), BY COUNTRY, 2021-2024 (USD BILLION)
TABLE 73 ASIA PACIFIC: HVAC SYSTEM MARKET (HEATING EQUIPMENT), BY COUNTRY, 2025-2030 (USD BILLION)
TABLE 74 ROW: HVAC SYSTEM MARKET (HEATING EQUIPMENT), BY REGION 2021-2024 (USD BILLION)
TABLE 75 ROW: HVAC SYSTEM MARKET (HEATING EQUIPMENT), BY REGION, 2025-2030 (USD BILLION)
TABLE 76 HEAT PUMPS: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 77 HEAT PUMPS: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 78 HEAT PUMPS: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 79 HEAT PUMPS: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 80 FURNACES: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 81 FURNACES: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 82 FURNACES: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 83 FURNACES: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 84 UNITARY HEATERS: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 85 UNITARY HEATERS: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 86 UNITARY HEATERS: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 87 UNITARY HEATERS: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 88 BOILERS: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 89 BOILERS: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 90 BOILERS: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 91 BOILERS: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 92 HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT, 2021-2024 (USD BILLION)
TABLE 93 HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT, 2025-2030 (USD BILLION)
TABLE 94 HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT, 2021-2024 (MILLION UNITS)
TABLE 95 HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT, 2025-2030 (MILLION UNITS)
TABLE 96 VENTILATION EQUIPMENT: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 97 VENTILATION EQUIPMENT: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 98 VENTILATION EQUIPMENT: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 99 VENTILATION EQUIPMENT: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 100 NORTH AMERICA: HVAC SYSTEM MARKET (VENTILATION EQUIPMENT), BY COUNTRY, 2021-2024 (USD BILLION)
TABLE 101 NORTH AMERICA: HVAC SYSTEM MARKET (VENTILATION EQUIPMENT), BY COUNTRY, 2025-2030 (USD BILLION)
TABLE 102 EUROPE: HVAC SYSTEM MARKET (VENTILATION EQUIPMENT), BY COUNTRY, 2021-2024 (USD BILLION)
TABLE 103 EUROPE: HVAC SYSTEM MARKET (VENTILATION EQUIPMENT), BY COUNTRY, 2025-2030 (USD BILLION)
TABLE 104 ASIA PACIFIC: HVAC SYSTEM MARKET (VENTILATION EQUIPMENT), BY COUNTRY, 2021-2024 (USD BILLION)
TABLE 105 ASIA PACIFIC: HVAC SYSTEM MARKET (VENTILATION EQUIPMENT), BY COUNTRY, 2025-2030 (USD BILLION)
TABLE 106 ROW: HVAC SYSTEM MARKET (VENTILATION EQUIPMENT), BY REGION, 2021-2024 (USD BILLION)
TABLE 107 ROW: HVAC SYSTEM MARKET (VENTILATION EQUIPMENT), BY REGION, 2025-2030 (USD BILLION)
TABLE 108 AIR-HANDLING UNITS: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 109 AIR-HANDLING UNITS: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 110 AIR-HANDLING UNITS: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 111 AIR-HANDLING UNITS: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 112 AIR FILTERS: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 113 AIR FILTERS: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 114 AIR FILTERS: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 115 AIR FILTERS: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 116 DEHUMIDIFIERS: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 117 DEHUMIDIFIERS: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 118 DEHUMIDIFIERS: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 119 DEHUMIDIFIERS: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 120 VENTILATION FANS: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 121 VENTILATION FANS: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 122 VENTILATION FANS: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 123 VENTILATION FANS: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 124 HUMIDIFIERS: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 125 HUMIDIFIERS: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 126 HUMIDIFIERS: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 127 HUMIDIFIERS: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 128 AIR PURIFIERS: HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 129 AIR PURIFIERS: HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 130 AIR PURIFIERS: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 131 AIR PURIFIERS: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 132 HVAC SYSTEM (EQUIPMENT + SERVICE) MARKET, BY TECHNOLOGY, 2021-2024 (USD BILLION)
TABLE 133 HVAC SYSTEM (EQUIPMENT + SERVICE) MARKET, BY TECHNOLOGY, 2025-2030 (USD BILLION)
TABLE 134 HVAC SYSTEM (EQUIPMENT) MARKET, BY IMPLEMENTATION TYPE, 2021-2024 (USD BILLION)
TABLE 135 HVAC SYSTEM (EQUIPMENT) MARKET, BY IMPLEMENTATION TYPE, 2025-2030 (USD BILLION)
TABLE 136 HVAC SYSTEM MARKET, BY SERVICE TYPE, 2021-2024 (USD BILLION)
TABLE 137 HVAC SYSTEM MARKET, BY SERVICE TYPE, 2025-2030 (USD BILLION)
TABLE 138 SERVICE TYPE: HVAC SYSTEM MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 139 SERVICE TYPE: HVAC SYSTEM MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 140 HVAC SYSTEM MARKET, BY END USER, 2021-2024 (USD BILLION)
TABLE 141 HVAC SYSTEM MARKET, BY END USER, 2025-2030 (USD BILLION)
TABLE 142 COMMERCIAL: HVAC SYSTEM MARKET, BY TYPE, 2021-2024 (USD BILLION)
TABLE 143 COMMERCIAL: HVAC SYSTEM MARKET, BY TYPE, 2025-2030 (USD BILLION)
TABLE 144 COMMERCIAL: HVAC SYSTEM MARKET, BY COOLING EQUIPMENT, 2021-2024 (USD BILLION)
TABLE 145 COMMERCIAL: HVAC SYSTEM MARKET, BY COOLING EQUIPMENT, 2025-2030 (USD BILLION)
TABLE 146 COMMERCIAL: HVAC SYSTEM MARKET, BY HEATING EQUIPMENT, 2021-2024 (USD BILLION)
TABLE 147 COMMERCIAL: HVAC SYSTEM MARKET, BY HEATING EQUIPMENT, 2025-2030 (USD BILLION)
TABLE 148 COMMERCIAL: HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT, 2021-2024 (USD BILLION)
TABLE 149 COMMERCIAL: HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT, 2025-2030 (USD BILLION)
TABLE 150 RESIDENTIAL: HVAC SYSTEM MARKET, BY COOLING EQUIPMENT, 2021-2024 (USD BILLION)
TABLE 151 RESIDENTIAL: HVAC SYSTEM MARKET, BY COOLING EQUIPMENT, 2025-2030 (USD BILLION)
TABLE 152 RESIDENTIAL: HVAC SYSTEM MARKET, BY HEATING EQUIPMENT, 2021-2024 (USD BILLION)
TABLE 153 RESIDENTIAL: HVAC SYSTEM MARKET, BY HEATING EQUIPMENT, 2025-2030 (USD BILLION)
TABLE 154 RESIDENTIAL: HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT, 2021-2024 (USD BILLION)
TABLE 155 RESIDENTIAL: HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT, 2025-2030 (USD BILLION)
TABLE 156 INDUSTRIAL: HVAC SYSTEM MARKET, BY TYPE, 2021-2024 (USD BILLION)
TABLE 157 INDUSTRIAL: HVAC SYSTEM MARKET, BY TYPE, 2025-2030 (USD BILLION)
TABLE 158 INDUSTRIAL: HVAC SYSTEM MARKET, BY COOLING EQUIPMENT, 2021-2024 (USD BILLION)
TABLE 159 INDUSTRIAL: HVAC SYSTEM MARKET, BY COOLING EQUIPMENT, 2025-2030 (USD BILLION)
TABLE 160 INDUSTRIAL: HVAC SYSTEM MARKET, BY HEATING EQUIPMENT, 2021-2024 (USD BILLION)
TABLE 161 INDUSTRIAL: HVAC SYSTEM MARKET, BY HEATING EQUIPMENT, 2025-2030 (USD BILLION)
TABLE 162 INDUSTRIAL: HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT, 2021-2024 (USD BILLION)
TABLE 163 INDUSTRIAL: HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT, 2025-2030 (USD BILLION)
TABLE 164 HVAC SYSTEM (EQUIPMENT+SERVICE) MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 165 HVAC SYSTEM (EQUIPMENT+SERVICE) MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 166 HVAC SYSTEM (EQUIPMENT) MARKET, BY REGION, 2021-2024 (USD BILLION)
TABLE 167 HVAC SYSTEM (EQUIPMENT) MARKET, BY REGION, 2025-2030 (USD BILLION)
TABLE 168 NORTH AMERICA: HVAC SYSTEM MARKET, BY COUNTRY, 2021-2024 (USD BILLION)
TABLE 169 NORTH AMERICA: HVAC SYSTEM MARKET, BY COUNTRY, 2025-2030 (USD BILLION)
TABLE 170 EUROPE: HVAC SYSTEM MARKET, BY COUNTRY, 2021-2024 (USD BILLION)
TABLE 171 EUROPE: HVAC SYSTEM MARKET, BY COUNTRY, 2025-2030 (USD BILLION)
TABLE 172 ASIA PACIFIC: HVAC SYSTEM MARKET, BY COUNTRY, 2021-2024 (USD BILLION)
TABLE 173 ASIA PACIFIC: HVAC SYSTEM MARKET, BY COUNTRY, 2025-2030 (USD BILLION)
TABLE 174 ROW: HVAC SYSTEM MARKET, BY COUNTRY, 2021-2024 (USD BILLION)
TABLE 175 ROW: HVAC SYSTEM MARKET, BY COUNTRY, 2025-2030 (USD BILLION)
TABLE 176 OVERVIEW OF STRATEGIES ADOPTED BY KEY COMPANIES, JUNE 2022-JULY 2025
TABLE 177 HVAC SYSTEM MARKET: DEGREE OF COMPETITION, 2024
TABLE 178 HVAC SYSTEM MARKET: REGION FOOTPRINT
TABLE 179 HVAC SYSTEM MARKET: EQUIPMENT FOOTPRINT
TABLE 180 HVAC SYSTEM MARKET: IMPLEMENTATION TYPE FOOTPRINT
TABLE 181 HVAC SYSTEM MARKET: SERVICE TYPE FOOTPRINT
TABLE 182 HVAC SYSTEM MARKET: END USER FOOTPRINT
TABLE 183 HVAC SYSTEM MARKET: LIST OF KEY STARTUPS/SMES
TABLE 184 HVAC SYSTEM MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
TABLE 185 HVAC SYSTEM MARKET: PRODUCT LAUNCHES, JUNE 2022-JULY 2025
TABLE 186 HVAC SYSTEM MARKET: DEALS, JUNE 2022-JULY 2025
TABLE 187 CARRIER: COMPANY OVERVIEW
TABLE 188 CARRIER: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 189 CARRIER: PRODUCT LAUNCHES
TABLE 190 CARRIER: DEALS
TABLE 191 DAIKIN INDUSTRIES, LTD.: COMPANY OVERVIEW
TABLE 192 DAIKIN INDUSTRIES, LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 193 DAIKIN INDUSTRIES, LTD.: PRODUCT LAUNCHES
TABLE 194 DAIKIN INDUSTRIES, LTD.: DEALS
TABLE 195 LG ELECTRONICS: COMPANY OVERVIEW
TABLE 196 LG ELECTRONICS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 197 LG ELECTRONICS: PRODUCT LAUNCHES
TABLE 198 MIDEA: COMPANY OVERVIEW
TABLE 199 MIDEA: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 200 MIDEA: PRODUCT LAUNCHES
TABLE 201 MIDEA: DEALS
TABLE 202 TRANE TECHNOLOGIES PLC: COMPANY OVERVIEW
TABLE 203 TRANE TECHNOLOGIES PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 204 TRANE TECHNOLOGIES PLC: PRODUCT LAUNCHES
TABLE 205 TRANE TECHNOLOGIES PLC: DEALS
TABLE 206 LENNOX INTERNATIONAL INC.: COMPANY OVERVIEW
TABLE 207 LENNOX INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 208 LENNOX INTERNATIONAL INC.: PRODUCT LAUNCHES
TABLE 209 LENNOX INTERNATIONAL INC.: DEALS
TABLE 210 JOHNSON CONTROLS: COMPANY OVERVIEW
TABLE 211 JOHNSON CONTROLS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 212 JOHNSON CONTROLS: PRODUCT LAUNCHES
TABLE 213 JOHNSON CONTROLS: DEALS
TABLE 214 HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW
TABLE 215 HONEYWELL INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 216 HONEYWELL INTERNATIONAL INC.: DEALS
TABLE 217 MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW
TABLE 218 MITSUBISHI ELECTRIC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 219 MITSUBISHI ELECTRIC CORPORATION: PRODUCT LAUNCHES
TABLE 220 MITSUBISHI ELECTRIC CORPORATION: DEALS
TABLE 221 SAMSUNG: COMPANY OVERVIEW
TABLE 222 SAMSUNG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 223 SAMSUNG: PRODUCT LAUNCHES
TABLE 224 GREE ELECTRIC APPLIANCES, INC. OF ZHUHAI: COMPANY OVERVIEW
TABLE 225 GREE ELECTRIC APPLIANCES, INC. OF ZHUHAI: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 226 FUJITSU GENERAL: COMPANY OVERVIEW
TABLE 227 FUJITSU GENERAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 228 FUJITSU GENERAL: PRODUCT LAUNCHES
TABLE 229 PANASONIC HOLDINGS CORPORATION: COMPANY OVERVIEW
TABLE 230 PANASONIC HOLDINGS CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 231 PANASONIC HOLDINGS CORPORATION: PRODUCT LAUNCHES
TABLE 232 PANASONIC HOLDINGS CORPORATION: DEALS
TABLE 233 ROBERT BOSCH GMBH: COMPANY OVERVIEW
TABLE 234 ROBERT BOSCH GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 235 ROBERT BOSCH GMBH: PRODUCT LAUNCHES
TABLE 236 ROBERT BOSCH GMBH: DEALS
TABLE 237 MODINE: COMPANY OVERVIEW
TABLE 238 MODINE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 239 MODINE: DEALS

List of Figures

FIGURE 1 HVAC SYSTEM MARKET SEGMENTATION AND REGIONAL SCOPE
FIGURE 2 HVAC SYSTEM MARKET: RESEARCH DESIGN
FIGURE 3 RESEARCH FLOW OF MARKET SIZE ESTIMATION
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY SIDE): REVENUE FROM SALES OF HVAC SYSTEM PRODUCTS AND SOLUTIONS
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
FIGURE 7 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 8 UNITARY AIR CONDITIONERS TO ACCOUNT FOR LARGEST SHARE OF HVAC SYSTEM MARKET DURING FORECAST PERIOD
FIGURE 9 HEAT PUMPS TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 10 AIR-HANDLING UNITS TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 11 NEW CONSTRUCTION BUILDINGS TO SECURE LARGER SHARE OF HVAC SYSTEM MARKET DURING FORECAST PERIOD
FIGURE 12 INSTALLATION SERVICES TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
FIGURE 13 COMMERCIAL SEGMENT TO BE LARGEST END USER OF HVAC SYSTEMS DURING FORECAST PERIOD
FIGURE 14 ASIA PACIFIC TO BE LARGEST HVAC SYSTEM MARKET IN 2025
FIGURE 15 IMPLEMENTATION OF IOT ACROSS HVAC SYSTEMS (EQUIPMENT + SERVICE) TO TRANSFORM HVAC SYSTEMS IN COMMERCIAL AND RESIDENTIAL APPLICATIONS
FIGURE 16 US TO DOMINATE NORTH AMERICAN HVAC SYSTEM MARKET IN 2025
FIGURE 17 OFFICES TO ACCOUNT FOR LARGEST SHARE OF HVAC SYSTEM MARKET IN COMMERCIAL SEGMENT DURING FORECAST PERIOD
FIGURE 18 ASIA PACIFIC TO REGISTER HIGHEST CAGR IN HVAC SYSTEM MARKET DURING FORECAST PERIOD
FIGURE 19 MARKET DYNAMICS: HVAC SYSTEM MARKET
FIGURE 20 DRIVERS AND THEIR IMPACT ON HVAC SYSTEM MARKET
FIGURE 21 RESTRAINTS AND THEIR IMPACT ON HVAC SYSTEM MARKET
FIGURE 22 OPPORTUNITIES AND THEIR IMPACT ON HVAC SYSTEM MARKET
FIGURE 23 CHALLENGES AND THEIR IMPACT ON HVAC SYSTEM MARKET
FIGURE 24 VALUE CHAIN ANALYSIS: HVAC SYSTEM MARKET
FIGURE 25 HVAC SYSTEM MARKET: ECOSYSTEM ANALYSIS
FIGURE 26 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
FIGURE 27 AVERAGE SELLING PRICE OF HVAC SYSTEM EQUIPMENT, BY KEY END USERS, 2024
FIGURE 28 AVERAGE SELLING PRICE TREND OF COOLING EQUIPMENT, BY REGION, 2021-2024
FIGURE 29 AVERAGE SELLING PRICE TREND OF HEATING EQUIPMENT, BY REGION, 2021-2024
FIGURE 30 AVERAGE SELLING PRICE TREND OF VENTILATION EQUIPMENT, BY REGION, 2021-2024
FIGURE 31 PORTER'S FIVE FORCES ANALYSIS: HVAC SYSTEM MARKET
FIGURE 32 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR END USERS
FIGURE 33 KEY BUYING CRITERIA FOR END USERS
FIGURE 34 FUNDS AUTHORIZED WORLDWIDE FOR ENERGY-EFFICIENT BUILDINGS
FIGURE 35 IMPORT SCENARIO FOR HS CODE 8415-COMPLIANT PRODUCTS FOR TOP 5 COUNTRIES, 2020-2024
FIGURE 36 EXPORT SCENARIO FOR HS CODE 8415-COMPLIANT PRODUCTS FOR TOP 5 COUNTRIES, 2020-2024
FIGURE 37 NUMBER OF PATENTS GRANTED IN HVAC SYSTEM MARKET, 2015-2024
FIGURE 38 IMPACT OF GEN AI ON HVAC SYSTEM MARKET
FIGURE 39 UNITARY AIR CONDITIONERS TO ACCOUNT FOR LARGEST MARKET SHARE IN 2030
FIGURE 40 HEAT PUMPS TO ACCOUNT FOR LARGEST SHARE OF HVAC SYSTEM MARKET DURING FORECAST PERIOD
FIGURE 41 AIR-HANDLING UNITS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
FIGURE 42 TRADITIONAL HVAC SYSTEMS TO ACCOUNT FOR LARGEST SHARE OF HVAC SYSTEM MARKET IN 2030
FIGURE 43 NEW CONSTRUCTION BUILDINGS SEGMENT TO WITNESS HIGHER CAGR IN HVAC SYSTEM MARKET DURING FORECAST PERIOD
FIGURE 44 UPGRADATION/REPLACEMENT SERVICES TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 45 COMMERCIAL SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
FIGURE 46 ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE OF HVAC SYSTEM (EQUIPMENT+SERVICE) MARKET DURING FORECAST PERIOD
FIGURE 47 NORTH AMERICA: HVAC SYSTEM (EQUIPMENT + SERVICE) MARKET SNAPSHOT
FIGURE 48 EUROPE: HVAC SYSTEM (EQUIPMENT + SERVICE) MARKET SNAPSHOT
FIGURE 49 ASIA PACIFIC: HVAC SYSTEM (EQUIPMENT + SERVICE) MARKET SNAPSHOT
FIGURE 50 REST OF THE WORLD: HVAC SYSTEM (EQUIPMENT + SERVICE) MARKET SNAPSHOT
FIGURE 51 HVAC SYSTEM MARKET: REVENUE ANALYSIS OF KEY PLAYERS, 2020-2024
FIGURE 52 MARKET SHARE ANALYSIS OF KEY PLAYERS, 2024
FIGURE 53 COMPANY VALUATION, 2024
FIGURE 54 FINANCIAL METRICS (EV/EBITDA), 2024
FIGURE 55 BRAND/PRODUCT COMPARISON
FIGURE 56 HVAC SYSTEM MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024
FIGURE 57 HVAC SYSTEM MARKET: COMPANY FOOTPRINT
FIGURE 58 HVAC SYSTEM MARKET: COMPANY EVALUATION MATRIX (SMES/STARTUPS), 2024
FIGURE 59 CARRIER: COMPANY SNAPSHOT
FIGURE 60 DAIKIN INDUSTRIES, LTD.: COMPANY SNAPSHOT
FIGURE 61 LG ELECTRONICS: COMPANY SNAPSHOT
FIGURE 62 MIDEA: COMPANY SNAPSHOT
FIGURE 63 TRANE TECHNOLOGIES PLC: COMPANY SNAPSHOT
FIGURE 64 LENNOX INTERNATIONAL INC.: COMPANY SNAPSHOT
FIGURE 65 JOHNSON CONTROLS: COMPANY SNAPSHOT
FIGURE 66 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT
FIGURE 67 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT
FIGURE 68 SAMSUNG: COMPANY SNAPSHOT
FIGURE 69 FUJITSU GENERAL: COMPANY SNAPSHOT
FIGURE 70 PANASONIC HOLDINGS CORPORATION: COMPANY SNAPSHOT
FIGURE 71 ROBERT BOSCH GMBH: COMPANY SNAPSHOT
FIGURE 72 MODINE: COMPANY SNAPSHOT

HVAC System Market by Cooling, Heating, Ventilation, Technology, Service - Global Forecast to 2030

Description

Table of Contents

List of Tables

Research Coverage:

The report will provide insights into the following points:

TABLE OF CONTENTS

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 PREMIUM INSIGHTS

5 MARKET OVERVIEW

6 HVAC SYSTEM MARKET, BY COOLING EQUIPMENT

7 HVAC SYSTEM MARKET, BY HEATING EQUIPMENT

8 HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT

9 HVAC SYSTEM MARKET, BY TECHNOLOGY

10 HVAC SYSTEM MARKET, BY IMPLEMENTATION TYPE

11 HVAC SYSTEM MARKET, BY SERVICE TYPE

12 HVAC SYSTEM MARKET, BY END USER

13 HVAC SYSTEM MARKET, BY REGION

14 COMPETITIVE LANDSCAPE

15 COMPANY PROFILES

16 APPENDIX

List of Tables

List of Figures