Product Code: ENG015B
The global market for heating, ventilation, and air conditioning (HVAC) is expected to grow from $263.6 billion in 2023 and is projected to reach $346.7 billion by the end of 2028, at a compound annual growth rate (CAGR) of 5.6% during the forecast period of 2023 to 2028.
The Asia-Pacific HVAC market is expected to grow from $120.6 billion in 2023 and is projected to reach $167.1 billion by the end of 2028, at a CAGR of 6.7% during the forecast period of 2023 to 2028.
The European HVAC market is expected to grow from $64.0 billion in 2023 and is projected to reach $82.8 billion by the end of 2028, at a CAGR of 5.3% during the forecast period of 2023 to 2028.
Report Scope
This report analyzes segments of the HVAC market, including product type, installation type, application, and regional development. The product type segment is divided into heating equipment, ventilation equipment and cooling equipment. The global market is broken down into North America, Europe, Asia-Pacific and Rest of the World (RoW). The study looks at leading companies' business footprints, product types and revenue, as well as a patent analysis for the HVAC industry. The study also includes chapters on ESG (environment, social and governance), emerging technologies, and the competitive landscape. The report also analyzes the impact of the Russia-Ukraine war on the global and regional markets.
In this study, 2022 is the base year for the market analysis, estimated values are provided for 2023, and market values are forecast from 2023 to 2028. Compound annual growth rates (CAGRs) are provided for 2023 to 2028. All market values are provided in millions of dollars.
Report Includes
- 35 data tables and 45 additional tables
- An overview of the global markets for the heating, ventilation, and air conditioning (HVAC) systems
- Analyses of the global market trends, with historical market revenue data (sales figures) for 2022, 2023, estimates for 2024, forecasts for 2026 and projections of compound annual growth rates (CAGRs) through 2028
- Estimate of the market size and revenue forecast for the global HVAC market, and a corresponding market share analysis based on heating equipment, ventilation equipment, cooling equipment, Installation type, application and region
- An analysis of the drivers and challenges that affect the global market
- Review of the technological and regulatory issues, along with macroeconomic trends and variables that may influence market demand
- Discussion of the importance of ESG in the HVAC industry, including consumer attitudes, impact of ESG on company performance, an analysis of companies' ESG scores and the future of ESG, and ESG practices of leading companies
- An analysis of the competitive landscape, including company market shares, recent M&A activity, and the outlook for venture funding
- Profiles of the leading market players, including Daikin Industries Ltd., Carrier Corp., Johnson Controls, Lennox International Inc., and Hitachi Ltd.
Table of Contents
Chapter 1 Executive Summary
- Market Outlook
- Scope of Report
- Market Summary
Chapter 2 Market Overview
- Market Overview
- Types of HVAC Systems
- Value Chain Analysis
- Porter's Five Forces Model
- PESTLE Analysis
- Impact of Russia-Ukraine War on the Global HVAC Market
Chapter 3 Market Dynamics
- Market Dynamics
- Market Drivers
- Market Restraints
- Current Market Trends
- Market Opportunities
Chapter 4 Emerging Technologies and Developments
- Overview
- HVAC Technologies
- Future of HVAC Technology
- Patent Analysis
- Patent Descriptions
Chapter 5 Market Segmentation Analysis
- Segmentation Breakdown
- HVAC Market, by Product Type
- Heating Equipment
- Ventilation Equipment
- Cooling Equipment
- HVAC Market, by Installation Type
- New Construction
- Retrofitting and Replacement
- HVAC Market, by Application
- Residential
- Industrial
- Commercial
- Geographic Breakdown
- HVAC Market, by Region
- North America
- Europe
- Asia-Pacific
- Rest of World
Chapter 6 Competitive Intelligence
- Overview
- Market Ranking of Leading HVAC Companies
- M&A and Venture Funding Outlook
- M&A Analysis
- Venture Funding Analysis
Chapter 7 Sustainability in the HVAC Industry: An ESG Perspective
- Overview
- Sustainable Initiatives in the HVAC Industry
- Social Impact
- Governance Impact
- Status of ESG in the HVAC Market
- Concluding Remarks from BCC
Chapter 8 Appendix
- Research Methodology
- List of Small Players
- List of Resources for HVAC
- References
- Acronyms and Abbreviations
- Company Profiles
- CARRIER
- DAIKIN INDUSTRIES LTD.
- EMERSON ELECTRIC CO.
- GREE ELECTRIC APPLIANCES INC. OF ZHUHAI
- HITACHI LTD.
- JOHNSON CONTROLS
- LENNOX INTERNATIONAL INC.
- MITSUBISHI ELECTRIC CORP.
- NORTEK GLOBAL HVAC
- RHEEM MANUFACTURING CO.
- SAMSUNG HVAC LLC.
- TRANE TECHNOLOGIES PLC