Abstract
Summary
Heating, ventilation, and air conditioning (HVAC) is the technology of indoor environmental comfort. Its goal is to provide thermal comfort and acceptable indoor air quality. HVAC design is a subdiscipline of mechanical engineering, based on the principles of thermodynamics, fluid mechanics and heat transfer.
HVAC is an important part of residential structures such as single family homes, apartment buildings, hotels and senior living facilities, medium to large industrial and office buildings such as skyscrapers and hospitals, where safe and healthy building conditions are regulated with respect to temperature and humidity, using fresh air from outdoors.
The HVAC industry can be broken down into several segments, Decentralized, Centralized.
The global market for HVAC was estimated to be worth US$ 198380 million in 2023 and is forecast to a readjusted size of US$ 295660 million by 2030 with a CAGR of 5.8% during the forecast period 2024-2030.
Global key players of HVAC include Daikin, Midea, Gree, etc. The top three players hold a share over 35%.
Asia-Pacific is the largest market, has a share about 67%, followed by North America, with share 13%.
In terms of product type, decentralized is the largest segment, occupied for a share of 66%, and in terms of application, residential has a share about 45 percent.
Report Scope
This report aims to provide a comprehensive presentation of the global market for HVAC, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyse their position in the current marketplace, and make informed business decisions regarding HVAC.
The HVAC market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global HVAC market comprehensively. Regional market sizes, concerning products by type, by application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the HVAC companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, product type, application, and regions.
Market Segmentation
By Company
Gree
Daikin
Midea
Johnson Controls
Carrier
Trane Technologies
Haier
Panasonic
Lennox
LG Electronics
Emerson
Mitsubishi Electric
Siemens
Hitachi
Fujitsu
Danfoss
Electrolux
Honeywell
Nortek
Samsung Electronics
Schneider Electric
Segment by Type
Decentralized
Centralized
Segment by Application
Residential
Commercial
Industrial
By Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Australia
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of Middle East & Africa
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (product type, application, etc), including the market size of each market segment, future development potential, and so on.
Chapter 2: Revenue of HVAC in global and regional level.
Chapter 3: Detailed analysis of HVAC company competitive landscape, revenue, market share and industry ranking, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key companies, introducing the basic situation of the main companies in the market in detail, including product descriptions and specifications, HVAC revenue, gross margin, and recent development, etc.
Chapter 5: Provides the analysis of various market segments by Type, covering the revenue, and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 6: Provides the analysis of various market segments by Application, covering the revenue, and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 7: North America (US & Canada) by Type, by Application and by country, revenue for each segment.
Chapter 8: Europe by Type, by Application and by country, revenue for each segment.
Chapter 9: Asia Pacific by Type, by Application and by region, revenue for each segment.
Chapter 10: Latin America by Type, by Application and by country, revenue for each segment.
Chapter 11: Middle East and Africa, by Type, by Application and by country, revenue for each segment.
Chapter 12: Analysis of industrial chain, sales channel, key raw materials, distributors, and customers.
Chapter 13: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 14: Research Findings and Conclusion
HVAC is an important part of residential structures such as single family homes, apartment buildings, hotels and senior living facilities, medium to large industrial and office buildings such as skyscrapers and hospitals, where safe and healthy building conditions are regulated with respect to temperature and humidity, using fresh air from outdoors.
The HVAC industry can be broken down into several segments, Decentralized, Centralized.
The global market for HVAC was estimated to be worth US$ 198380 million in 2023 and is forecast to a readjusted size of US$ 295660 million by 2030 with a CAGR of 5.8% during the forecast period 2024-2030.
Global key players of HVAC include Daikin, Midea, Gree, etc. The top three players hold a share over 35%.
Asia-Pacific is the largest market, has a share about 67%, followed by North America, with share 13%.
In terms of product type, decentralized is the largest segment, occupied for a share of 66%, and in terms of application, residential has a share about 45 percent.
Report Scope
This report aims to provide a comprehensive presentation of the global market for HVAC, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyse their position in the current marketplace, and make informed business decisions regarding HVAC.
The HVAC market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global HVAC market comprehensively. Regional market sizes, concerning products by type, by application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the HVAC companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, product type, application, and regions.
Market Segmentation
By Company
Gree
Daikin
Midea
Johnson Controls
Carrier
Trane Technologies
Haier
Panasonic
Lennox
LG Electronics
Emerson
Mitsubishi Electric
Siemens
Hitachi
Fujitsu
Danfoss
Electrolux
Honeywell
Nortek
Samsung Electronics
Schneider Electric
Segment by Type
Decentralized
Centralized
Segment by Application
Residential
Commercial
Industrial
By Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Australia
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of Middle East & Africa
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (product type, application, etc), including the market size of each market segment, future development potential, and so on.
Chapter 2: Revenue of HVAC in global and regional level.
Chapter 3: Detailed analysis of HVAC company competitive landscape, revenue, market share and industry ranking, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key companies, introducing the basic situation of the main companies in the market in detail, including product descriptions and specifications, HVAC revenue, gross margin, and recent development, etc.
Chapter 5: Provides the analysis of various market segments by Type, covering the revenue, and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 6: Provides the analysis of various market segments by Application, covering the revenue, and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 7: North America (US & Canada) by Type, by Application and by country, revenue for each segment.
Chapter 8: Europe by Type, by Application and by country, revenue for each segment.
Chapter 9: Asia Pacific by Type, by Application and by region, revenue for each segment.
Chapter 10: Latin America by Type, by Application and by country, revenue for each segment.
Chapter 11: Middle East and Africa, by Type, by Application and by country, revenue for each segment.
Chapter 12: Analysis of industrial chain, sales channel, key raw materials, distributors, and customers.
Chapter 13: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 14: Research Findings and Conclusion
Table of Contents
1 Study Coverage
1.1 HVAC Product Introduction
1.2 Market by Type
1.2.1 Global HVAC Market Size Growth Rate by Type (2019 VS 2023 VS 2030)
1.2.2 Decentralized
1.2.3 Centralized
1.3 Market by Application
1.3.1 Global HVAC Market Size Growth Rate by Application (2019 VS 2023 VS 2030)
1.3.2 Residential
1.3.3 Commercial
1.3.4 Industrial
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Executive Summary
2.1 Global HVAC Market Size Estimates and Forecasts
2.2 HVAC Market Size by Region: 2023 Versus 2030
2.2.1 Global HVAC Revenue by Region: 2019-2024
2.2.2 Global HVAC Revenue Forecast by Region (2025-2030)
2.2.3 Global HVAC Revenue Market Share by Region (2019-2030)
3 Global HVAC by Company
3.1 Global HVAC Revenue by Company (2019-2024)
3.2 Global HVAC Revenue Share by Company (2019-2024)
3.3 Competitive Landscape
3.3.1 Key HVAC Companies around the World: Ranking by Revenue
3.3.2 Global HVAC Market Concentration Ratio (CR5 and HHI) & (2019-2024)
3.3.3 Global HVAC Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
3.4 Global HVAC Companies Headquarters & Product Type
3.4.1 HVAC Companies Headquarters
3.4.2 Global HVAC Companies Product & Service
3.4.3 Date of International Companies Enter into HVAC Market
3.5 Global HVAC Mergers & Acquisitions, Expansion Plans
4 Company Profiles
4.1 Gree
4.1.1 Gree Company Information
4.1.2 Gree Description, Business Overview
4.1.3 Gree HVAC Products Offered
4.1.4 Gree HVAC Revenue and Gross Margin (2019-2024)
4.1.5 Gree HVAC Revenue by Product in 2023
4.1.6 Gree HVAC Revenue by Application in 2023
4.1.7 Gree HVAC Revenue by Geographic Area in 2023
4.1.8 Gree Recent Developments
4.2 Daikin
4.2.1 Daikin Company Information
4.2.2 Daikin Description, Business Overview
4.2.3 Daikin HVAC Products Offered
4.2.4 Daikin HVAC Revenue and Gross Margin (2019-2024)
4.2.5 Daikin HVAC Revenue by Product in 2023
4.2.6 Daikin HVAC Revenue by Application in 2023
4.2.7 Daikin HVAC Revenue by Geographic Area in 2023
4.2.8 Daikin Recent Developments
4.3 Midea
4.3.1 Midea Company Information
4.3.2 Midea Description, Business Overview
4.3.3 Midea HVAC Products Offered
4.3.4 Midea HVAC Revenue and Gross Margin (2019-2024)
4.3.5 Midea HVAC Revenue by Product in 2023
4.3.6 Midea HVAC Revenue by Application in 2023
4.3.7 Midea HVAC Revenue by Geographic Area in 2023
4.3.8 Midea Recent Developments
4.4 Johnson Controls
4.4.1 Johnson Controls Company Information
4.4.2 Johnson Controls Description, Business Overview
4.4.3 Johnson Controls HVAC Products Offered
4.4.4 Johnson Controls HVAC Revenue and Gross Margin (2019-2024)
4.4.5 Johnson Controls HVAC Revenue by Product in 2023
4.4.6 Johnson Controls HVAC Revenue by Application in 2023
4.4.7 Johnson Controls HVAC Revenue by Geographic Area in 2023
4.4.8 Johnson Controls Recent Developments
4.5 Carrier
4.5.1 Carrier Company Information
4.5.2 Carrier Description, Business Overview
4.5.3 Carrier HVAC Products Offered
4.5.4 Carrier HVAC Revenue and Gross Margin (2019-2024)
4.5.5 Carrier HVAC Revenue by Product in 2023
4.5.6 Carrier HVAC Revenue by Application in 2023
4.5.7 Carrier HVAC Revenue by Geographic Area in 2023
4.5.8 Carrier Recent Developments
4.6 Trane Technologies
4.6.1 Trane Technologies Company Information
4.6.2 Trane Technologies Description, Business Overview
4.6.3 Trane Technologies HVAC Products Offered
4.6.4 Trane Technologies HVAC Revenue and Gross Margin (2019-2024)
4.6.5 Trane Technologies HVAC Revenue by Product in 2023
4.6.6 Trane Technologies HVAC Revenue by Application in 2023
4.6.7 Trane Technologies HVAC Revenue by Geographic Area in 2023
4.6.8 Trane Technologies Recent Development
4.7 Haier
4.7.1 Haier Company Information
4.7.2 Haier Description, Business Overview
4.7.3 Haier HVAC Products Offered
4.7.4 Haier HVAC Revenue and Gross Margin (2019-2024)
4.7.5 Haier HVAC Revenue by Product in 2023
4.7.6 Haier HVAC Revenue by Application in 2023
4.7.7 Haier HVAC Revenue by Geographic Area in 2023
4.7.8 Haier Recent Development
4.8 Panasonic
4.8.1 Panasonic Company Information
4.8.2 Panasonic Description, Business Overview
4.8.3 Panasonic HVAC Products Offered
4.8.4 Panasonic HVAC Revenue and Gross Margin (2019-2024)
4.8.5 Panasonic HVAC Revenue by Product in 2023
4.8.6 Panasonic HVAC Revenue by Application in 2023
4.8.7 Panasonic HVAC Revenue by Geographic Area in 2023
4.8.8 Panasonic Recent Development
4.9 Lennox
4.9.1 Lennox Company Information
4.9.2 Lennox Description, Business Overview
4.9.3 Lennox HVAC Products Offered
4.9.4 Lennox HVAC Revenue and Gross Margin (2019-2024)
4.9.5 Lennox HVAC Revenue by Product in 2023
4.9.6 Lennox HVAC Revenue by Application in 2023
4.9.7 Lennox HVAC Revenue by Geographic Area in 2023
4.9.8 Lennox Recent Development
4.10 LG Electronics
4.10.1 LG Electronics Company Information
4.10.2 LG Electronics Description, Business Overview
4.10.3 LG Electronics HVAC Products Offered
4.10.4 LG Electronics HVAC Revenue and Gross Margin (2019-2024)
4.10.5 LG Electronics HVAC Revenue by Product in 2023
4.10.6 LG Electronics HVAC Revenue by Application in 2023
4.10.7 LG Electronics HVAC Revenue by Geographic Area in 2023
4.10.8 LG Electronics Recent Development
4.11 Emerson
4.11.1 Emerson Company Information
4.11.2 Emerson Description, Business Overview
4.11.3 Emerson HVAC Products Offered
4.11.4 Emerson HVAC Revenue and Gross Margin (2019-2024)
4.11.5 Emerson HVAC Revenue by Product in 2023
4.11.6 Emerson HVAC Revenue by Application in 2023
4.11.7 Emerson HVAC Revenue by Geographic Area in 2023
4.11.8 Emerson Recent Development
4.12 Mitsubishi Electric
4.12.1 Mitsubishi Electric Company Information
4.12.2 Mitsubishi Electric Description, Business Overview
4.12.3 Mitsubishi Electric HVAC Products Offered
4.12.4 Mitsubishi Electric HVAC Revenue and Gross Margin (2019-2024)
4.12.5 Mitsubishi Electric HVAC Revenue by Product in 2023
4.12.6 Mitsubishi Electric HVAC Revenue by Application in 2023
4.12.7 Mitsubishi Electric HVAC Revenue by Geographic Area in 2023
4.12.8 Mitsubishi Electric Recent Development
4.13 Siemens
4.13.1 Siemens Company Information
4.13.2 Siemens Description, Business Overview
4.13.3 Siemens HVAC Products Offered
4.13.4 Siemens HVAC Revenue and Gross Margin (2019-2024)
4.13.5 Siemens HVAC Revenue by Product in 2023
4.13.6 Siemens HVAC Revenue by Application in 2023
4.13.7 Siemens HVAC Revenue by Geographic Area in 2023
4.13.8 Siemens Recent Development
4.14 Hitachi
4.14.1 Hitachi Company Information
4.14.2 Hitachi Description, Business Overview
4.14.3 Hitachi HVAC Products Offered
4.14.4 Hitachi HVAC Revenue and Gross Margin (2019-2024)
4.14.5 Hitachi HVAC Revenue by Product in 2023
4.14.6 Hitachi HVAC Revenue by Application in 2023
4.14.7 Hitachi HVAC Revenue by Geographic Area in 2023
4.14.8 Hitachi Recent Development
4.15 Fujitsu
4.15.1 Fujitsu Company Information
4.15.2 Fujitsu Description, Business Overview
4.15.3 Fujitsu HVAC Products Offered
4.15.4 Fujitsu HVAC Revenue and Gross Margin (2019-2024)
4.15.5 Fujitsu HVAC Revenue by Product in 2023
4.15.6 Fujitsu HVAC Revenue by Application in 2023
4.15.7 Fujitsu HVAC Revenue by Geographic Area in 2023
4.15.8 Fujitsu Recent Development
4.16 Danfoss
4.16.1 Danfoss Company Information
4.16.2 Danfoss Description, Business Overview
4.16.3 Danfoss HVAC Products Offered
4.16.4 Danfoss HVAC Revenue and Gross Margin (2019-2024)
4.16.5 Danfoss HVAC Revenue by Product in 2023
4.16.6 Danfoss HVAC Revenue by Application in 2023
4.16.7 Danfoss HVAC Revenue by Geographic Area in 2023
4.16.8 Danfoss Recent Development
4.17 Electrolux
4.17.1 Electrolux Company Information
4.17.2 Electrolux Description, Business Overview
4.17.3 Electrolux HVAC Products Offered
4.17.4 Electrolux HVAC Revenue and Gross Margin (2019-2024)
4.17.5 Electrolux HVAC Revenue by Product in 2023
4.17.6 Electrolux HVAC Revenue by Application in 2023
4.17.7 Electrolux HVAC Revenue by Geographic Area in 2023
4.17.8 Electrolux Recent Development
4.18 Honeywell
4.18.1 Honeywell Company Information
4.18.2 Honeywell Description, Business Overview
4.18.3 Honeywell HVAC Products Offered
4.18.4 Honeywell HVAC Revenue and Gross Margin (2019-2024)
4.18.5 Honeywell HVAC Revenue by Product in 2023
4.18.6 Honeywell HVAC Revenue by Application in 2023
4.18.7 Honeywell HVAC Revenue by Geographic Area in 2023
4.18.8 Honeywell Recent Development
4.19 Nortek
4.19.1 Nortek Company Information
4.19.2 Nortek Description, Business Overview
4.19.3 Nortek HVAC Products Offered
4.19.4 Nortek HVAC Revenue and Gross Margin (2019-2024)
4.19.5 Nortek HVAC Revenue by Product in 2023
4.19.6 Nortek HVAC Revenue by Application in 2023
4.19.7 Nortek HVAC Revenue by Geographic Area in 2023
4.19.8 Nortek Recent Development
4.20 Samsung Electronics
4.20.1 Samsung Electronics Company Information
4.20.2 Samsung Electronics Description, Business Overview
4.20.3 Samsung Electronics HVAC Products Offered
4.20.4 Samsung Electronics HVAC Revenue and Gross Margin (2019-2024)
4.20.5 Samsung Electronics HVAC Revenue by Product in 2023
4.20.6 Samsung Electronics HVAC Revenue by Application in 2023
4.20.7 Samsung Electronics HVAC Revenue by Geographic Area in 2023
4.20.8 Samsung Electronics Recent Development
4.21 Schneider Electric
4.21.1 Schneider Electric Company Information
4.21.2 Schneider Electric Description, Business Overview
4.21.3 Schneider Electric HVAC Products Offered
4.21.4 Schneider Electric HVAC Revenue and Gross Margin (2019-2024)
4.21.5 Schneider Electric HVAC Revenue by Product in 2023
4.21.6 Schneider Electric HVAC Revenue by Application in 2023
4.21.7 Schneider Electric HVAC Revenue by Geographic Area in 2023
4.21.8 Schneider Electric Recent Development
5 Breakdown Data by Type
5.1 Global HVAC Revenue by Type (2019-2024)
5.2 Global HVAC Revenue Forecast by Type (2025-2030)
5.3 HVAC Revenue Market Share by Type (2019-2030)
6 Breakdown Data by Application
6.1 Global HVAC Revenue by Application (2019-2024)
6.2 Global HVAC Revenue Forecast by Application (2025-2030)
6.3 HVAC Revenue Market Share by Application (2019-2030)
7 North America
7.1 North America HVAC Market Size YoY Growth 2019-2030
7.2 North America HVAC Market Facts & Figures by Country (2019-2030)
7.3 North America HVAC Revenue by Type (2019-2024)
7.4 North America HVAC Revenue by Application (2019-2024)
8 Asia-Pacific
8.1 Asia-Pacific HVAC Market Size YoY Growth 2019-2030
8.2 Asia-Pacific HVAC Market Facts & Figures by Region (2019-2030)
8.3 Asia-Pacific HVAC Revenue by Type (2019-2024)
8.4 Asia-Pacific HVAC Revenue by Application (2019-2024)
9 Europe
9.1 Europe HVAC Market Size YoY Growth 2019-2030
9.2 Europe HVAC Market Facts & Figures by Country (2019-2030)
9.3 Europe HVAC Revenue by Type (2019-2024)
9.4 Europe HVAC Revenue by Application (2019-2024)
10 Latin America
10.1 Latin America HVAC Market Size YoY Growth 2019-2030
10.2 Latin America HVAC Market Facts & Figures by Country (2019-2030)
10.3 Latin America HVAC Revenue by Type (2019-2024)
10.4 Latin America HVAC Revenue by Application (2019-2024)
11 Middle East and Africa
11.1 Middle East and Africa HVAC Market Size YoY Growth 2019-2030
11.2 Middle East and Africa HVAC Market Facts & Figures by Country (2019-2030)
11.3 Middle East and Africa HVAC Revenue by Type (2019-2024)
11.4 Middle East and Africa HVAC Revenue by Application (2019-2024)
12 Supply Chain and Sales Channel Analysis
12.1 HVAC Supply Chain Analysis
12.2 HVAC Key Raw Materials and Upstream Suppliers
12.3 HVAC Clients Analysis
12.4 HVAC Sales Channel and Sales Model Analysis
12.4.1 HVAC Distribution Channel Analysis: Indirect Sales VS Direct Sales
12.4.2 HVAC Distribution Channel Analysis: Online Sales VS Offline Sales
12.4.3 HVAC Distributors
13 Market Dynamics
13.1 HVAC Industry Trends
13.2 HVAC Market Drivers
13.3 HVAC Market Challenges
13.4 HVAC Market Restraints
14 Research Findings and Conclusion
15 Appendix
15.1 Research Methodology
15.1.1 Methodology/Research Approach
15.1.2 Data Source
15.2 Author Details
15.3 Disclaimer