The global HVAC market stood at USD 182.1 billion in 2019, and is likely to be valued at USD 243.5 billion by 2027, at a CAGR of 4.5% over the next eight years. Global HVAC market is poised to register healthy CAGR over the coming years. The growing demand for HVAC systems in industrial applications and rising construction industry in these countries are some of the major factors driving the market growth. Additionally, the market is further exhibiting healthy growth on account of growing population, rising industrial production, and growing real estate industry.
The inclination toward green/smart buildings is gaining significance, owing to high carbon emissions, increasing pollution level, and growing awareness towards creating a healthy and sustainable environment. A green building structure consists of practices which includes energy efficiency, water conservation, greenhouse gas emission reduction, waste reuse and recycling, reduce natural resource consumption, and protect environment. Real estate companies are focusing on the construction of green/smart buildings due to their increasing demand.
The heating, ventilation, and air conditioning (HVAC) industry is based on the technology that is used to provide thermal comfort, and improve air quality indoors. Generally, the installation and controls are integrated into an HVAC system in individual buildings, however, HVAC systems may also be part of a larger district heating/cooling networks. HVAC systems are used in both the industrial and commercial sectors. The commercial sector consists of more market player and hence due to market support has placed more importance on the efficiency of HVAC equipment.
The report provides detailed market outlook, and forecast the “Global HVAC” market based on type, component, unit tonnage, equipment, end-user and region.
| Research Attribute | Coverage |
|---|---|
| Years Considered | 2017-2027 |
| Historical Years | 2017 & 2018 |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Units Considered | USD Billion & Units |
| Segmentation By Type |
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| Segmentation by Component |
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| Segmentation by Unit Tonnage |
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| Segmentation By Equipment |
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| Segmentation by End-Use |
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| Regions Covered |
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| Key Company Profiles | Daikin Industries, Johnson Controls, Westaflex, Hitachi, FUJITSU GENERAL, Dwyer Instruments, Inc., Honeywell WEBs, Carrier Corp., INGERSOLL RAND, Lennox International, Rheem Manufacturing, Trane, Mitsubishi Electric Corporation are among Others, among others. |
CHAPTER 1. Market Scope and Methodology
1.1. Research methodology
1.2. Objectives of the report
1.3. Research scope & assumptions
1.4. List of data sources
CHAPTER 2. Executive Summary
2.1. Heating, ventilation, and air conditioning (HVAC) market – Key industry insights
CHAPTER 3. Market Outlook
3.1. Market definition
3.2. Market segmentation
3.3. Value chain analysis
3.3.1. Raw material trends
3.3.2. Manufacturing trends
3.4. Technological overview
3.5. Regulatory framework
3.6. HVAC market : developed v/s developing countries
3.7. Market opportunities & trends
3.7.1. Integration of IoT with HVAC systems
3.7.2. Infrastructural reforms, and HVAC unit replacements
3.7.3. Constant innovations in HVAC deigns
3.8. Market dynamics
3.8.1. Market driver analysis
3.8.1.1. Growth in real estate sector revenues, from both publicly and privately funded projects
3.8.1.2. Increasing government initiatives towards energy saving
3.8.1.3. Growing awareness towards energy efficient smart building solution
3.8.1.4. Impact analysis
3.8.2. Market restraint analysis
3.8.2.1. High installation cost
3.8.2.2. Lack of expertise with regard to installation & design
3.8.2.3. Impact analysis
3.9. Industry analysis – Porter’s
3.9.1. Bargaining power of suppliers
3.9.2. Bargaining power of buyers
3.9.3. Threat of new entrants
3.9.4. Threat of substitutes
3.9.5. Competitive rivalry
3.10. PESTEL analysis
3.11. SWOT analysis
CHAPTER 4. Competitive Outlook
4.1. Competitive framework
4.2. Company market share analysis
4.3. Strategic layout
CHAPTER 5. COVID-19 Implications
5.1. Global industry impact of COVID-19 pandemic
5.1.1. Impact analysis by end-use
5.1.2. Analyst recommendations
CHAPTER 6. Global HVAC Market Size and Forecast (2017 - 2027)
6.1. Global HVAC Market, By Type (USD Billion/units)
6.1.1. Central System
6.1.2. Local System
6.2. Global HVAC Market, By Component (USD Billion/Units)
6.2.1. Heating
6.2.2. Ventilation
6.2.3. Air Conditioning
6.3. Global HVAC Market, By Unit Tonnage (USD Billion/Units)
6.3.1. <5 Tons
6.3.2. 5 -25 Tons
6.3.3. 25+ Tons
6.4. Global HVAC Market, By Unit Equipment (USD Billion/Units)
6.4.1. Heating
6.4.1.1. Boiler Units
6.4.1.2. Heat Pumps
6.4.1.3. Exchangers
6.4.1.4. Air Compressor
6.4.1.5. Others
6.4.2. Ventilation
6.4.2.1. Air Handling Unit
6.4.2.2. Air Filters
6.4.2.3. Dampers
6.4.2.4. Sound attenuator
6.4.2.5. Others
6.4.3. Air Conditioning
6.4.3.1. Ducted split/packaged unit
6.4.3.2. VRF System
6.4.3.3. Chiller
6.4.3.4. Split Unit
6.4.3.5. Others
6.5. Global HVAC Market, By End-User (USD Billion/Units)
6.5.1. Residential
6.5.2. Commercial
6.5.3. Industrial
6.5.4. Healthcare
6.5.5. Institutional
6.6. Global HVAC Market, By Region (USD Billion/Units)
6.6.1. North America
6.6.2. Europe
6.6.3. Asia-Pacific
6.6.4. Central & South America (CSA)
6.6.5. Middle East & Africa (MEA)
CHAPTER 7. Global HVAC Market Size and Forecast, By Region (2017 - 2027)
7.1. North America HVAC Market (USD Billion/Units)
7.1.1. North America HVAC Market, By Country (USD Billion/Units)
7.1.2. North America HVAC Market, By Type (USD Billion/Units)
7.1.3. North America HVAC Market, By Component (USD Billion/Units)
7.1.4. North America HVAC Market, By Unit Tonnage (USD Billion/Units)
7.1.5. North America HVAC Market, By Equipment (USD Billion/Units)
7.1.6. North America HVAC Market, By End-User (USD Billion/Units)
7.1.7. The U.S. HVAC Market (USD Billion/Units)
7.1.7.1. The U.S. HVAC Market, By Type (USD Billion/Units)
7.1.7.2. The U.S. HVAC Market, By Component (USD Billion/Units)
7.1.7.3. The U.S. HVAC Market, By Unit Tonnage (USD Billion/Units)
7.1.7.4. The U.S. HVAC Market, By Equipment (USD Billion/Units)
7.1.7.5. The U.S. HVAC Market, By End-User (USD Billion/Units)
7.2. Europe HVAC Market (USD Billion/Units)
7.2.1. Europe HVAC Market, By Country (USD Billion/Units)
7.2.2. Europe HVAC Market, By Type (USD Billion/Units)
7.2.3. Europe HVAC Market, By Component (USD Billion/Units)
7.2.4. Europe HVAC Market, By Unit Tonnage (USD Billion/Units)
7.2.5. Europe HVAC Market, By Equipment (USD Billion/Units)
7.2.6. Europe HVAC Market, By End-User (USD Billion/Units)
7.2.7. Germany HVAC Market (USD Billion/Units)
7.2.7.1. Germany HVAC Market, By Type (USD Billion/Units)
7.2.7.2. Germany HVAC Market, By Component (USD Billion/Units)
7.2.7.3. Germany HVAC Market, By Unit Tonnage (USD Billion/Units)
7.2.7.4. Germany HVAC Market, By Equipment (USD Billion/Units)
7.2.7.5. Germany HVAC Market, By End-User (USD Billion/Units)
7.2.8. The U.K HVAC Market (USD Billion/Units)
7.2.8.1. The U.K. HVAC Market, By Type (USD Billion/Units)
7.2.8.2. The U.K. HVAC Market, By Component (USD Billion/Units)
7.2.8.3. The U.K. HVAC Market, By Unit Tonnage (USD Billion/Units)
7.2.8.4. The U.K. HVAC Market, By Equipment (USD Billion/Units)
7.2.8.5. The U.K. HVAC Market, By End-User (USD Billion/Units)
7.2.9. France HVAC Market (USD Billion/Units)
7.2.9.1. France HVAC Market, By Type (USD Billion/Units)
7.2.9.2. France HVAC Market, By Component (USD Billion/Units)
7.2.9.3. France HVAC Market, By Unit Tonnage (USD Billion/Units)
7.2.9.4. France HVAC Market, By Equipment (USD Billion/Units)
7.2.9.5. France HVAC Market, By End-User (USD Billion/Units)
7.2.10. Italy HVAC Market (USD Billion/Units)
7.2.10.1. Italy HVAC Market, By Type (USD Billion/Units)
7.2.10.2. Italy HVAC Market, By Component (USD Billion/Units)
7.2.10.3. Italy HVAC Market, By Unit Tonnage (USD Billion/Units)
7.2.10.4. Italy HVAC Market, By Equipment (USD Billion/Units)
7.2.10.5. Italy HVAC Market, By End-User (USD Billion/Units)
7.2.11. Spain HVAC Market (USD Billion/Units)
7.2.11.1. Spain HVAC Market, By Type (USD Billion/Units)
7.2.11.2. Spain HVAC Market, By Component (USD Billion/Units)
7.2.11.3. Spain HVAC Market, By Unit Tonnage (USD Billion/Units)
7.2.11.4. Spain HVAC Market, By Equipment (USD Billion/Units)
7.2.11.5. Spain HVAC Market, By End-User (USD Billion/Units)
7.3. Asia-Pacific HVAC Market (USD Billion/Units)
7.3.1. APAC HVAC Market, By Country (USD Billion/Units)
7.3.2. APAC HVAC Market, By Type (USD Billion/Units)
7.3.3. APAC HVAC Market, By Component (USD Billion/Units)
7.3.4. APAC HVAC Market, By Unit Tonnage (USD Billion/Units)
7.3.5. APAC HVAC Market, By Equipment (USD Billion/Units)
7.3.6. APAC HVAC Market, By End-User (USD Billion/Units)
7.3.7. China HVAC Market (USD Billion/Units)
7.3.7.1. China HVAC Market, By Type (USD Billion/Units)
7.3.7.2. China HVAC Market, By Component (USD Billion/Units)
7.3.7.3. China HVAC Market, By Unit Tonnage (USD Billion/Units)
7.3.7.4. China HVAC Market, By Equipment (USD Billion/Units)
7.3.7.5. China HVAC Market, By End-User (USD Billion/Units)
7.3.8. Japan HVAC Market (USD Billion/Units)
7.3.8.1. Japan HVAC Market, By Type (USD Billion/Units)
7.3.8.2. Japan HVAC Market, By Component (USD Billion/Units)
7.3.8.3. Japan HVAC Market, By Unit Tonnage (USD Billion/Units)
7.3.8.4. Japan HVAC Market, By Equipment (USD Billion/Units)
7.3.8.5. Japan HVAC Market, By End-User (USD Billion/Units)
7.3.9. India HVAC Market (USD Billion/Units)
7.3.9.1. India HVAC Market, By Type (USD Billion/Units)
7.3.9.2. India HVAC Market, By Component (USD Billion/Units)
7.3.9.3. India HVAC Market, By Unit Tonnage (USD Billion/Units)
7.3.9.4. India HVAC Market, By Equipment (USD Billion/Units)
7.3.9.5. India HVAC Market, By End-User (USD Billion/Units)
7.3.10. South Korea HVAC Market (USD Billion/Units)
7.3.10.1. South Korea HVAC Market, By Type (USD Billion/Units)
7.3.10.2. South Korea HVAC Market, By Component (USD Billion/Units)
7.3.10.3. South Korea HVAC Market, By Unit Tonnage (USD Billion/Units)
7.3.10.4. South Korea HVAC Market, By Equipment (USD Billion/Units)
7.3.10.5. South Korea HVAC Market, By End-User (USD Billion/Units)
7.3.11. Australia HVAC Market (USD Billion/Units)
7.3.11.1. Australia HVAC Market, By Type (USD Billion/Units)
7.3.11.2. Australia HVAC Market, By Component (USD Billion/Units)
7.3.11.3. Australia HVAC Market, By Unit Tonnage (USD Billion/Units)
7.3.11.4. Australia HVAC Market, By Equipment (USD Billion/Units)
7.3.11.5. Australia HVAC Market, By End-User (USD Billion/Units)
7.4. Central and South America (CSA) HVAC Market (USD Billion/Units)
7.4.1. CSA HVAC Market, By Country (USD Billion/Units)
7.4.2. CSA HVAC Market, By Type (USD Billion/Units)
7.4.3. CSA HVAC Market, By Component (USD Billion/Units)
7.4.4. CSA HVAC Market, By Unit Tonnage (USD Billion/Units)
7.4.5. CSA HVAC Market, By Equipment (USD Billion/Units)
7.4.6. CSA HVAC Market, By End-User (USD Billion/Units)
7.4.7. Brazil HVAC Market (USD Billion/Units)
7.4.7.1. Brazil HVAC Market, By Type (USD Billion/Units)
7.4.7.2. Brazil HVAC Market, By Component (USD Billion/Units)
7.4.7.3. Brazil HVAC Market, By Unit Tonnage (USD Billion/Units)
7.4.7.4. Brazil HVAC Market, By Equipment (USD Billion/Units)
7.4.7.5. Brazil HVAC Market, By End-User (USD Billion/Units)
7.5. Middle East and Africa (MEA) HVAC Market (USD Billion/Units)
7.5.1. MEA HVAC Market, By Country (USD Billion/Units)
7.5.2. MEA HVAC Market, By Type (USD Billion/Units)
7.5.3. MEA HVAC Market, By Component (USD Billion/Units)
7.5.4. MEA HVAC Market, By Unit Tonnage (USD Billion/Units)
7.5.5. MEA HVAC Market, By Equipment (USD Billion/Units)
7.5.6. MEA HVAC Market, By End-User (USD Billion/Units)
7.5.7. UAE HVAC Market (USD Billion/Units)
7.5.7.1. UAE HVAC Market, By Type (USD Billion/Units)
7.5.7.2. UAE HVAC Market, By Component (USD Billion/Units)
7.5.7.3. UAE HVAC Market, By Unit Tonnage (USD Billion/Units)
7.5.7.4. UAE HVAC Market, By Equipment (USD Billion/Units)
7.5.7.5. UAE HVAC Market, By End-User (USD Billion/Units)
7.5.8. The U.K HVAC Market (USD Billion/Units)
7.5.8.1. South Africa HVAC Market, By Type (USD Billion/Units)
7.5.8.2. South Africa HVAC Market, By Component (USD Billion/Units)
7.5.8.3. South Africa HVAC Market, By Unit Tonnage (USD Billion/Units)
7.5.8.4. South Africa HVAC Market, By Equipment (USD Billion/Units)
7.5.8.5. South Africa HVAC Market, By End-User (USD Billion/Units)
CHAPTER 8. Key Players and Strategic Developments
8.1. Daikin Industries
8.1.1. Business Overview
8.1.2. Product and Service Offering
8.1.3. Financial Overview
8.1.4. Strategic Developments
8.2. Johnson Controls
8.2.1. Business Overview
8.2.2. Product and Service Offering
8.2.3. Financial Overview
8.2.4. Strategic Developments
8.3. Westaflex
8.3.1. Business Overview
8.3.2. Product and Service Offering
8.3.3. Financial Overview
8.3.4. Strategic Developments
8.4. Hitachi
8.4.1. Business Overview
8.4.2. Product and Service Offering
8.4.3. Financial Overview
8.4.4. Strategic Developments
8.5. FUJITSU GENERAL
8.5.1. Business Overview
8.5.2. Product and Service Offering
8.5.3. Financial Overview
8.5.4. Strategic Developments
8.6. Dwyer Instruments, Inc.
8.6.1. Business Overview
8.6.2. Product and Service Offering
8.6.3. Financial Overview
8.6.4. Strategic Developments
8.7. Honeywell WEBs
8.7.1. Business Overview
8.7.2. Product and Service Offering
8.7.3. Financial Overview
8.7.4. Strategic Developments
8.8. Carrier Corp.
8.8.1. Business Overview
8.8.2. Product and Service Offering
8.8.3. Financial Overview
8.8.4. Strategic Developments
8.9. INGERSOLL RAND
8.9.1. Business Overview
8.9.2. Product and Service Offering
8.9.3. Financial Overview
8.9.4. Strategic Developments
8.10. Lennox International
8.10.1. Business Overview
8.10.2. Product and Service Offering
8.10.3. Financial Overview
8.10.4. Strategic Developments
8.11. Rheem Manufacturing
8.11.1. Business Overview
8.11.2. Product and Service Offering
8.11.3. Financial Overview
8.11.4. Strategic Developments
8.12. Mitsubishi Electric Corporation
8.12.1. Business Overview
8.12.2. Product and Service Offering
8.12.3. Financial Overview
8.12.4. Strategic Developments
8.13. Trane
8.13.1. Business Overview
8.13.2. Product and Service Offering
8.13.3. Financial Overview
8.13.4. Strategic Developments
