Get In Touch

Global HVAC Equipment Market to reach Worth of US$ 56.3 bn by 2027 End, Residential Applications impart Solid and Consistent Boost

The global heating, ventilation, and air conditioning (HVAC) equipment market is expected grow at a higher pace as a result of the growing requirement of HVAC Equipment in the commercial segment coupled with growing number of household in Asia Pacific region. Rising demand in climate control technologies have a large bearing on the strategic dynamics of the global HVAC equipment market. HVAC equipment companies are adopting a blend of strategies to establish their foothold in the global market. Several of them are undertaking mergers and acquisitions in the global HVAC equipment market to gain a competitive edge over their peers.

Some of the key players operating in the global HVAC equipment market are Daikin Industries Ltd., Electrolux AB, Samsung Electronics, Carrier Corporation, Lennox International Inc., and LG Corporation.

The global HVAC equipment market is expected to clock a CAGR of 6.50% during 2019–2027. The global market will attain a worth of US$ 56.3 bn by the end of 2027.

Among the various types of end-use applications, a major share will be contributed by commercial and industrial segment, with the former alone accounting for more than 33.0% of the global HVAC equipment market. The prominence is attributed to the rising demand for heating and cooling equipment in the tourism and construction sectors world over.

On the regional front, Asia Pacific presently holds the leading share in the global HVAC equipment market. The region is expected to retain its lead over the next few years as well. Extensive demand for HVAC products in the end-use industries in key economies of Asia Pacific is responsible to bolster its growth. 

Innovation in Energy Efficient HVAC Equipment

It has been observed that demand of climate control system is increasing among industries which requires HVAC equipment. Moreover, the commercial sector is more inclined towards comfortable and energy controlled working environments. By understanding the consumer demand, manufacturers are working towards energy efficient and environment friendly products that can boost the demand for HVAC Equipment in coming years.

HVAC equipment are fast gaining importance in residential applications and are intended to play a crucial role in pivoting the industry growth. However, contemporary HVAC equipment and technologies are attracting criticisms from advocates of environmental sustainability. Growing environmental concerns pertaining to the use of HVAC equipment may dampen the prospects of the global market to an extent.

Availability of Low Cost Product is driving the Market Growth

Growing requirement of cost-effective heating, cooling, air handling, and controls is driving companies to offer low cost product in global market. There is a rising deployment of HVAC equipment in newly constructed facilities and in retrofits in various countries, especially in developing regions.

Developing economies have higher demand of low cost products. Domestic companies in China and India are offering low cost product with different services. Small scale players are providing long term after sales service to attract more customers. Furthermore, technological enhancement will affect the market growth in coming years.

The study presented here is based on a report by Transparency Market Research (TMR) titled “HVAC Equipment Market (Equipment Type: Heating (Heat Pumps, Furnaces, Unitary Heaters, Boilers), Air Conditioning (Room Air Conditioners, Unitary Air Conditioners, Coolers and Others), Ventilation (Ventilation Fans/Air Pumps, Humidifier/Dehumidifiers); End-use Application: Residential, Commercial, Industrial) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019–2027.”

The global HVAC equipment market is segmented based on:

Equipment Type

  • Heating
    • Heat Pumps
    • Furnaces
    • Unitary Heaters
    • Boilers
  • Air Conditioning
    • Room Air Conditioners
    • Unitary Air Conditioners
    • Coolers and Others
  • Ventilation
    • Ventilation Fans/Air Pumps
    • Humidifiers/Dehumidifiers

End-use Application

  • Residential
  • Commercial
  • Industrial


  • North America
    • U.S.
    • Rest of North America
  • Europe
    • EU7
    • CIS
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • Indian Subcontinent
    • Australasia
    • Rest of Asia Pacific
  • Middle East and Africa (MEA)
    • GCC Countries
    • North Africa
    • South Africa
    • Rest of MEA
  • Latin America
    • Brazil
    • Rest of Latin America

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.” 


Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453


7 of 10 large enterprizes view our ToC to take the right decision.

View Report ToC