HVAC Systems Market (By Product - Heating, Cooling, Ventilation; By End-user - Residential, Industrial, Commercial) - Global Industry Size, Share, Trends and Forecast 2018 - 2026

Category : Semiconductor and Electronics | Delivery Format : PDF | Status: Published | Pages : 180


The global HVAC systems Market is project worth $185.4 Billion by 2026 and the market is projected to showcase 5.9% CAGR during the forecast period. The market is driven by emergence of energy efficient heating and ventilation systems.

Market Dynamics

Growing urbanization and increase in awareness about energy efficient products is the driving force for the growth of the HVAC systems market. Also, governments across the globe encourage the use of the energy efficient Heating, Ventilation, and Air Conditioning (HVAC) units by offering incentives and rebate programs, which are the other key factors driving the growth of the global HVAC system

Market Insights

Technologies for instance, remote control access, (IoT) Internet of Things, and automated control systems are transforming and revolutionizing the HVAC equipment. Automated control systems, identify the nearby climate and automatically control the temperature and fan speeds to deliver optimum comfort to the user. Remote control access enables the handler to control connected systems via mobile applications with the assistance of internet. For instance, IoT enabled HVAC units can be linked to the internet and can deliver real-time information and data about the condition of the systems to handler and manufacturers, assisting them anticipate defects and also contribute in reducing the maintenance costs.

Market Classification

The global HVAC market is segmented into three major segment named product, end-user and region. On the basis of product the HVAC market is segmented into ventilation, cooling, heating. On the basis of the end-user the global HVAC market is segmented into residential, commercial, and industrial. On the basis of region the global HVAC market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Based on product, the global HVAC equipment market can majorly be segmented into three sub-segment, which are ventilation, heating, and cooling. Heating systems sub segment are extensively used in various applications such as molding, floor and wall heating, space heating, and tensile testing Ventilation systems eliminate excess humidity, pollutants, odors, and other impurities from indoor areas. It is the most cost-effective and energy-efficient way to cool and improvise the air quality of buildings. In 2018, cooling HVAC units constitute with more than 50% market share due to the increasing demand from the commercial sector and fluctuating climatic conditions across the regions.

Regional Insights

The presence of substantial real estate and tourism sector in the Europe is the key reason for the growth of the HVAC system market. The commercial HVAC system take over by the two major regions namely North American and European. This is due to the well-established service sector and increasing real-estate sector. Also, stringent government norms are putting into practice, increasing construction activities, and a steady industrial base are expected to drive the HVAC system market in these regions.

Asia Pacific is projected to grow with fastest CAGR due to changing climatic conditions, rising populace, and disposable income, and urbanization in emerging economies. Japan, India and China together contribute to more than 60% of the total regional sales. Favourable government initiatives to promote the usage of advanced energy efficient units in the buildings is projected to propel the growth of the HVAC system market.

Report Coverage


HVAC Systems Market

Analysis Period

2016 – 2026

Historic Data

2016 – 2017

Base Year


Forecast Data

2019 – 2026

Market Stratification

Product, End-user  and Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis, 

Player Profiling, Value Chain Analysis

Market Participants

The major players associated with the HVAC systems market are Johnson Controls International PLC., Arkema S.A., United Technologies Corporation, Daikin Industries Ltd., Mitsubishi Electric Corp., Samsung Electronics, LG Corporation, Carrier Corporation, and Lennox International, Inc.

These equipment are a crucial part of residential, commercial and industrial structures and thus, used across these buildings to manage and control fresh air intake, temperature, air quality and humidity. Air conditioning systems captures the major share for heating, ventilation, and air conditioning with the annual consumption of more than 100 million units across the globe. Producers capitalise heavily in research and development to manufacture economic, energy efficient and innovative HVAC products. Additionally, players associated with the global HVAC market are focusing on merger and acquisition and developing strategic partnerships with smaller companies to expand their product line and to increase the market share. For instance, in March 2016, Mitsubishi Electric Corporation; a major player in HVAC market acquired DeLclima S.p.A. the objective of the partnership is to enter into the chiller business and expand their market reach.

Market Segmentation
Market By Product
  • Heating
  • Cooling
  • Ventilation
Market By End-user
  • Residential
  • Industrial
  • Commercial
Market By Geography
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Chile
    • Rest of Latin America
  • Middle East and Africa (MEA)
    • South Africa
    • Saudi Arabia
    • Rest of MEA

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