PUBLISHER: The Business Research Company | PRODUCT CODE: 1932607
PUBLISHER: The Business Research Company | PRODUCT CODE: 1932607
HVAC and commercial/industrial refrigeration equipment encompass machinery utilized within the refrigeration sector, managing heat transfer for products or building environments.
These types consist of HVAC equipment and commercial/industrial refrigeration equipment, specifically designed for the commercial and industrial refrigeration sectors. They come in varying capacities such as small, medium, and large, and find applications in sectors such as food processing, beverage production, chemicals/pharmaceuticals, petrochemicals, and energy industries.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
Tariffs are affecting the hvac and commercial and industrial refrigeration equipment market by increasing costs of imported compressors, heat exchangers, control electronics, refrigerants, and fabricated steel components. North America and Europe are highly impacted due to reliance on imported refrigeration subsystems, while Asia-Pacific manufacturers face export competitiveness challenges. These tariffs raise capital expenditure and slow large-scale installations. However, they are encouraging domestic manufacturing, regional supply chain development, and innovation in efficient, low-emission HVAC and refrigeration systems.
The HVAC and commercial and industrial refrigeration equipment market research report is one of a series of new reports from The Business Research Company that provides HVAC and commercial and industrial refrigeration equipment market statistics, including HVAC and commercial and industrial refrigeration equipment industry global market size, regional shares, competitors with an HVAC and commercial and industrial refrigeration equipment market share, detailed HVAC and commercial and industrial refrigeration equipment market segments, market trends and opportunities, and any further data you may need to thrive in the HVAC and commercial and industrial refrigeration equipment industry. This HVAC and commercial and industrial refrigeration equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The hvac and commercial and industrial refrigeration equipment market size has grown steadily in recent years. It will grow from $450.34 billion in 2025 to $469.61 billion in 2026 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to industrial refrigeration expansion, growth of food processing industries, traditional hvac installations, regulatory cooling requirements, expansion of logistics infrastructure.
The hvac and commercial and industrial refrigeration equipment market size is expected to see strong growth in the next few years. It will grow to $577.25 billion in 2030 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to decarbonization mandates, growth of cold storage demand, smart factory adoption, replacement of legacy systems, investment in energy efficient cooling. Major trends in the forecast period include shift toward energy efficient hvac systems, integration of smart monitoring and controls, adoption of low gwp refrigerants, expansion of cold chain infrastructure, demand for high capacity industrial cooling.
The global expansion of the construction industry is expected to drive the growth of the HVAC and commercial and industrial refrigeration equipment markets during the forecast period. The construction industry encompasses the sector involved in building, repairing, renovating, and maintaining infrastructure. New commercial construction requires HVAC systems to ensure indoor comfort, while residential construction fuels demand for efficient heating and cooling systems that provide comfort and energy savings for homebuyers and renters. For instance, in August 2023, according to the U.S. Census Bureau, a US-based Federal Statistical System, construction expenditure reached $1,938.4 billion in June 2023, a 3.5% increase from $1,873.2 billion in June 2022. Therefore, growth in the construction industry is supporting the HVAC and commercial and industrial refrigeration equipment markets.
Major companies in the HVAC and commercial and industrial refrigeration equipment market are focusing on innovative technologies, such as low-global warming potential (GWP) refrigeration, to enhance energy efficiency, environmental performance, and regulatory compliance. Low-GWP refrigeration technology uses refrigerants with reduced global warming potential and integrates electric-drive or multi-energy-source systems for efficient cooling, offering benefits such as lower CO2 emissions, reduced fuel consumption, and flexible power-source operation. For example, in September 2024, Carrier Transicold, a US-based multinational leader in climate and cold-chain solutions, launched the Vector HE 19, a refrigeration unit using a low-GWP refrigerant compatible with biofuels (HVO or B100). Designed for temperature-controlled trailers and semi-trailers, it features a refrigerant that reduces CO2 emissions by up to nine times compared to standard refrigerants and a flexible E-Drive architecture allowing operation via engine, battery, or grid. Vector HE 19 enhances sustainability, fuel efficiency, and operational flexibility in cold-chain transport within the HVAC and commercial and industrial refrigeration sector.
In July 2024, Bosch, a Germany-based company specializing in vehicle technology and hardware and software solutions, acquired a residential and light commercial HVAC business from Johnson Controls and Hitachi for an undisclosed sum. This acquisition allows Bosch to broaden its HVAC portfolio by incorporating advanced technologies and innovations from Johnson Controls and Hitachi, thereby enhancing its offerings in residential and light commercial heating, ventilation, and air conditioning systems. Johnson Controls-Hitachi Air Conditioning is a Japan-based company that provides HVAC and commercial and industrial refrigeration solutions.
Major companies operating in the hvac and commercial and industrial refrigeration equipment market are Midea Group, Hitachi Ltd., Panasonic Corporation, Haier Group, Daikin Global, Gree Electric Appliances Inc., Johnson Controls International plc, Carrier Corporation, Illinois Tool Works Inc., Snow River Chillers, Fukushima Galilei Co. Ltd, Lotte Engineering & Machinery Mfg. Co., Dover Corporation, Ingersoll-Rand Plc, GEA Group AG, Hoshizaki Corporation, Blue Star Limited, Standex International Corporation, Arneg S.p.A, Paul Mueller Company, Bitzer, Baltimore Aircoil Company, Structural Concepts Corporation, Zhongshan Aochi Refrigeration Equipment Co. Ltd, Mokon Chillers, Frigoglass SAIC, Cold Shot Chillers, RTF Manufacturing
Asia-Pacific was the largest region in HVAC and commercial and industrial refrigeration equipment market in 2025. North America was the second largest region in the HVAC and commercial and industrial refrigeration equipment. The regions covered in the hvac and commercial and industrial refrigeration equipment market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the hvac and commercial and industrial refrigeration equipment market report are China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
The HVAC and commercial and industrial refrigeration equipment market consists of sales of split systems, hybrid systems, duct-free systems, and packaged heating and air systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
HVAC And Commercial And Industrial Refrigeration Equipment Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses hvac and commercial and industrial refrigeration equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hvac and commercial and industrial refrigeration equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The hvac and commercial and industrial refrigeration equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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