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HVAC Systems Market Size, Share & Trends Analysis Report by Equipment (Heating, Cooling, Ventilation), Application (Residential, Commercial, Industrial), Distribution Channel (Online, Retail Stores, Wholesale Stores), and Region with Growth Forecasts, 2026-2033

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    Report

  • 100 Pages
  • December 2025
  • Region: Global
  • Grand View Research
  • ID: 5318367
The global HVAC systems market size was estimated at USD 258.96 billion in 2025 and is projected to reach USD 445.73 billion by 2033, growing at a CAGR of 7.0% from 2026 to 2033. The global HVAC systems industry is expanding due to rising construction activities, urbanization, and an increasing need for thermal comfort in residential, commercial, and industrial buildings.

Energy efficiency regulations and government incentives for smart and sustainable HVAC systems are propelling demand. Technological advancements such as IoT-enabled monitoring, AI-driven optimization, and integration with renewable energy systems are further encouraging system upgrades and new installations. In addition, government initiatives, such as rebates, incentive plans, and clean heating & cooling equipment across North America & Europe, are expected to positively impact the demand for HVAC systems. Moreover, climate change and the growing popularity of improved indoor air quality are accelerating investments in air filtration and ventilation technologies.

Global HVAC Systems Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2021 to 2033. The report has segmented the global HVAC systems market report based on equipment, application, distribution channel, and region:

Equipment Outlook (Revenue, USD Billion, 2021-2033)

  • Heating
  • Ventilation
  • Cooling

Application Outlook (Revenue, USD Billion, 2021-2033)

  • Residential
  • Commercial
  • Industrial

Distribution Channel Outlook (Revenue, USD Billion, 2021-2033)

  • Online
  • Retail Stores
  • Wholesale Stores
  • Others

Regional Outlook (Revenue, USD Billion, 2021-2033)

  • North America
  • Europe
  • Asia-Pacific
  • Central & South America
  • Middle East & Africa

Why You Should Buy This Report

  • Comprehensive Market Analysis: Gain detailed insights into the market across major regions and segments.
  • Competitive Landscape: Explore the market presence of key players.
  • Future Trends: Discover the pivotal trends and drivers shaping the future of the market.
  • Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.

This report addresses:

  • Market intelligence to enable effective decision-making
  • Market estimates and forecasts from 2018 to 2030
  • Growth opportunities and trend analyses
  • Segment and regional revenue forecasts for market assessment
  • Competition strategy and market share analysis
  • Product innovation listings for you to stay ahead of the curve

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Table of Contents

Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definitions
1.3 Research Methodology
1.4 Information Procurement
1.4.1 Purchased Database
1.4.2 Internal Database
1.4.3 Secondary Sources
1.4.4 Third Party Perspective
1.4.5 Information Analysis
1.5 Information Analysis
1.5.1 Data Analysis Models
1.5.2 Market Formulation & Data Visualization
1.5.3 Data Validation & Publishing
1.6 Research Scope and Assumptions
1.6.1 List Of Data Sources
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Equipment& Application Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 HVAC Systems Market: Variables, Trends & Scope
3.1 Concentration & Growth Prospect Mapping
3.2 Industry Value Chain Analysis
3.2.1 Raw Material And Component Outlook
3.2.2 Manufacturer Outlook
3.2.3 Distribution Outlook
3.2.4 Installation & Integration Outlook
3.2.5 End-Use Outlook
3.2.6 After-Sales Outlook
3.3 Technology Overview
3.4 Regulatory Framework
3.4.1 U.S. Heating, Ventilation And Air-Conditioning Systems, Part Of Indoor Air Quality Design Tools For Schools
3.4.2 ASHRAE
3.4.2.1 ANSI/ASHRAE Standard 15, Safety Standard For Refrigeration Systems
3.4.2.2 ASHRAE Standard 90.1-2019
3.4.3 AHRI
3.4.3.1 AHRI Standard 550/590 (I-P): 2015 Standard For Performance Rating Of Water-Chilling And Heat Pump Water-Heating Packages Using The Vapor Compression Cycle
3.4.4 Seer2 Minimum Efficiency Standards (2023)
3.4.5 Uniform Mechanical Code
3.4.6 Nom-020-Ener-2011 - "Energy Efficiency For Air Conditioning Systems And Refrigeration Systems
3.4.7 Nom-001-Sedg-2014: Safety Requirements For Hvac Systems In Industrial Environments
3.4.8 Nom-032-Stps-2008: Workplace Health And Safety - Environmental Conditions Of Work In The Workplace
3.4.9 F-Gas Regulation (Eu) 2024/573
3.4.10 National Construction Code 2022
3.4.11 Iram National Standard 80400
3.4.12 Resolution 40773 Of The Ministry Of Mines And Energy
3.4.13 Commission Regulation (Eu) 2016/2281
3.4.14 European Commission: Labelling Rules And Requirements-
3.5 Market Dynamics
3.5.1 Market Driver Analysis
3.5.1.1 Rising Residential And Commercial Construction Activities
3.5.1.2 Increasing Demand For Energy-Efficient Heat Pump Solutions
3.5.1.3 Growth Of The Data Center Industry
3.5.2 Market Restraint Analysis
3.5.2.1 High Maintenance And Installation Costs
3.5.3 Market Opportunity Analysis
3.5.3.1 Growing Prominence Of Sustainability
3.5.4 Market Challenge Analysis
3.5.4.1 Waste Management Challenges And Environmental Impact Of Hvac Systems
3.6 Economic Mega Trend Analysis
3.6.1 Impact Of U.S. Tariffs
3.6.2 Impact Of Net-Zero Targets
3.7 Industry Analysis Tools
3.7.1 Porter’s Analysis
3.7.2 Macroeconomic Analysis
Chapter 4 HVAC Systems Market: Equipment Estimates & Trend Analysis
4.1 HVAC Systems: Equipment Outlook
4.2 HVAC Systems: Equipment Movement Analysis & Market Share, 2025 & 2033
4.3 HVAC Systems Market Estimates & Forecasts, by Equipment, 2021-2033 (USD Billion)
4.3.1 Heating
4.3.1.1 Heating, by Equipment
4.3.2 Ventilation
4.3.2.1 Ventilation, by Equipment
4.3.3 Cooling
4.3.3.1 Cooling, by Equipment
Chapter 5 HVAC Systems Market: Application Estimates & Trend Analysis
5.1 HVAC Systems: Application Outlook
5.2 HVAC Systems: Application Movement Analysis & Market Share, 2025 & 2033
5.3 HVAC Systems Market Estimates & Forecasts, In Application, 2021-2033 (USD Billion)
5.3.1 Residential
5.3.1.1 Residential, by Equipment
5.3.2 Commercial
5.3.2.1 Commercial, by Equipment
5.3.3 Industrial
5.3.3.1 Industrial, by Equipment
Chapter 6 HVAC Systems Market: Distribution Channel Estimates & Trend Analysis
5.1 HVAC Systems: Distribution Channel Outlook
5.2 HVAC Systems: Distribution Channel Movement Analysis & Market Share, 2025 & 2033
5.3 HVAC Systems Market Estimates & Forecasts, In Application, 2021-2033 (USD Billion)
5.3.1 Online
5.3.2 Retail Stores
5.3.3 Wholesale Stores
5.3.4.Others
Chapter 7 HVAC Systems Market: Region Estimates & Trend Analysis
7.1 HVAC Systems: Region Outlook
7.2 North America
7.2.1 North America Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.2.2 U.S.
7.2.2.1 U.S. Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.2.3 Canada
7.2.3.1 Canada Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.2.4 Mexico
7.2.4.1 Mexico Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.3 Europe
7.3.1 Europe Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.3.2 Germany
7.3.2.1 Germany Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.3.3 U.K
7.3.3.1 Uk Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.3.4 Italy
7.3.4.1 Italy Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.3.5 Spain
7.3.5.1 Spain Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.3.7 France
7.3.7.1 France Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.3.7 Türkiye
7.3.7.1 Türkiye Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.4 Asia-Pacific
7.4.1 Asia-Pacific Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.4.2 China
7.4.2.1 China Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.4.3 India
7.4.3.1 India Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.4.4 Japan
7.4.4.1 Japan Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.4.5 South Korea
7.4.5.1 South Korea Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.4.7 Australia
7.4.7.1 Australia Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.5 Middle East & Africa
7.5.1 Middle East & Africa Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.5.2 Saudi Arabia
7.5.2.1 Saudi Arabia Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.5.3 South Africa
7.5.3.1 South Africa Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.7 Latin America
7.7.1 Latin America Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.7.2 Brazil
7.7.2.1 Brazil Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
7.7.3 Argentina
7.7.3.1 Argentina Hvac Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Chapter 8 HVAC Systems Market: Competitive Landscape
8.1 Recent Developments & Impact Analysis, by Key Market Participants
8.2 Key Company Categorization
8.3 Company Dashboard Analysis
8.4 Competitive Dynamics
8.4.1 Company Market Share Analysis, 2025
8.4.2 Company Market Positioning
8.4.3 Company Heat Map Analysis
8.4.4 Vendor Landscape
8.4.5 Strategy Mapping
8.4.5.1 Expansions
8.4.5.2 Mergers & Acquisitions
8.4.5.3 Investment
8.4.5.4 Collaboration & Partnerships
8.4.5.5 Product Launches
Chapter 9 HVAC Systems Market: Competitive Landscape
9.1 Participant’s Overview
9.2 Financial Performance
9.3 Product Benchmarking
9.4.List of Companies
9.4.1 CARRIER CORPORATION
9.4.2 DAIKIN INDUSTRIES LTD.
9.4.3 FUJITSU
9.4.4 HAIER GROUP
9.4.5 PANASONIC CORPORATION
9.4.6 AAON
9.4.7 JOHNSON CONTROLS
9.4.8 LG ELECTRONICS
9.4.9 LENNOX INTERNATIONAL INC.
9.4.10 MITSUBISHI ELECTRIC CORPORATION
9.4.11 RHEEM MANUFACTURING COMPANY
9.4.12 SAMSUNG
9.4.13 TRANE
9.4.14 MIDEA
9.4.15 DANFOSS AS
9.4.16 MUNTERS
9.4.17 FRIGIDAIRE HVAC
9.4.18 BOSCH GROUP
9.4.19 STULZ AIR TECHNOLOGY SYSTEMS, INC.
9.4.20 HONEYWELL INTERNATIONAL INC.
List of Tables
Table 1 Ongoing Sky Scrapper Construction Projects Across the Globe
Table 2 HVAC Systems Market Estimates & Forecasts, by Equipment, 2021-2033 (USD Billion)
Table 3 HVAC Systems Market Estimates & Forecasts, by Heating Equipment, 2021-2033 (USD Billion)
Table 4 HVAC Systems Market Estimates & Forecasts, by Ventilation Equipment, 2021-2033 (USD Billion)
Table 5 HVAC Systems Market Estimates & Forecasts, by Cooling Equipment, 2021-2033 (USD Billion)
Table 6 HVAC Systems Market Estimates & Forecasts, In Application, 2021-2033 (USD Billion)
Table 7 Residential HVAC Systems Market Estimates & Forecasts, by Equipment, 2021-2033 (USD Billion)
Table 8 Residential HVAC Systems Market Estimates & Forecasts, by Heating Equipment, 2021-2033 (USD Billion)
Table 9 Residential HVAC Systems Market Estimates & Forecasts, by Ventilation Equipment, 2021-2033 (USD Billion)
Table 10 Residential HVAC Systems Market Estimates & Forecasts, by Cooling Equipment, 2021-2033 (USD Billion)
Table 11 Commercial HVAC Systems Market Estimates & Forecasts, by Equipment, 2021-2033 (USD Billion)
Table 12 Commercial HVAC Systems Market Estimates & Forecasts, by Heating Equipment, 2021-2033 (USD Billion)
Table 13 Commercial HVAC Systems Market Estimates & Forecasts, by Ventilation Equipment, 2021-2033 (USD Billion)
Table 14 Commercial HVAC Systems Market Estimates & Forecasts, by Cooling Equipment, 2021-2033 (USD Billion)
Table 15 Industrial HVAC Systems Market Estimates & Forecasts, by Equipment, 2021-2033 (USD Billion)
Table 16 Industrial HVAC Systems Market Estimates & Forecasts, by Heating Equipment, 2021-2033 (USD Billion)
Table 17 Industrial HVAC Systems Market Estimates & Forecasts, by Ventilation Equipment, 2021-2033 (USD Billion)
Table 18 Industrial HVAC Systems Market Estimates & Forecasts, by Cooling Equipment, 2021-2033 (USD Billion)
Table 19 HVAC Systems Market Estimates & Forecasts, by Distribution Channel, 2021-2033 (USD Billion)
Table 20 HVAC Systems Market Estimates & Forecasts, by Online, 2021-2033 (USD Billion)
Table 21 HVAC Systems Market Estimates & Forecasts, by Retail Stores, 2021-2033 (USD Billion)
Table 22 HVAC Systems Market Estimates & Forecasts, by Wholesale Stores, 2021-2033 (USD Billion)
Table 23 HVAC Systems Market Estimates & Forecasts, by Other Distribution Channels, 2021-2033 (USD Billion)
Table 24 U.S. Macroeconomic Outlook
Table 25 Canada Macroeconomic Outlook
Table 26 Mexico Macroeconomic Outlook
Table 27 Germany Macroeconomic Outlook
Table 28 UK Macroeconomic Outlook
Table 29 Construction Output in UK, Seasonally Adjusted, 2024 (USD Billion)
Table 30 Italy Macroeconomic Outlook
Table 31 Spain Macroeconomic Outlook
Table 32 France Macroeconomic Outlook
Table 33 Türkiye Macroeconomic Outlook
Table 34 Largest Ongoing Construction Projects in Asia-Pacific, 2025
Table 35 China Macroeconomic Outlook
Table 36 India Macroeconomic Outlook
Table 37 Japan Macroeconomic Outlook
Table 38 South Korea Macroeconomic Outlook
Table 39 Australia Macroeconomic Outlook
Table 40 Saudi Arabia Macroeconomic Outlook
Table 41 South Africa Macroeconomic Outlook
Table 42 Brazil Macroeconomic Outlook
Table 43 Argentina Macroeconomic Outlook
Table 44 Recent Developments & Impact Analysis, by Key Market Participants
Table 45 Company Heat Map Analysis, 2025
Table 46 Key Companies: Expansion
Table 47 Key Companies: Mergers & Acquisitions
Table 48 Key Companies: Investments
Table 49 Key Companies: Collaboration & Partnerships
Table 50 Key Companies: Product Launches
List of Figures
Figure 1 Market Segmentation & Scope
Figure 2 Information Procurement
Figure 3 Data Analysis Models
Figure 4 Market Formulation And Validation
Figure 5 Data Validating & Publishing
Figure 6 Market Snapshot
Figure 7 Equipment & Application Segment Snapshot
Figure 8 Competitive Landscape Snapshot
Figure 9 Concentration And Growth Prospect Mapping
Figure 10 HVAC Systems - Value Chain Analysis
Figure 11 Market Dynamics
Figure 12 Market Driver Analysis
Figure 13 Total Construction Spending in U.S., (2019-2024). (USD Billion)
Figure 14 Heat Pump Capacity in Buildings By Country and Region in The Announced Pledges Scenario, 2021-2030 (GW)
Figure 15 Share for Construction Spending for Manufacturing, Warehouses and Data Centers, 2019-2024 (%)
Figure 16 Market Restraint Analysis
Figure 17 HVAC Systems Market: PORTER’s Analysis
Figure 18 HVAC Systems: PESTEL Analysis
Figure 19 HVAC Systems, by Equipment: Key Takeaways
Figure 20 HVAC Systems: Equipment Movement Analysis & Market Share, 2025 & 2033
Figure 21 HVAC Systems Market Estimates & Forecasts, by Heating, 2021-2033 (USD Billion)
Figure 22 HVAC Systems Market Estimates & Forecasts, by Ventilation, 2021-2033 (USD Billion)
Figure 23 HVAC Systems Market Estimates & Forecasts, by Cooling, 2021-2033 (USD Billion)
Figure 24 HVAC Systems, by Application: Key Takeaways
Figure 25 HVAC Systems: Application Movement Analysis & Market Share, 2025 & 2033
Figure 26 HVAC Systems Market Estimates & Forecasts in Residential, 2021-2033 (USD Billion)
Figure 27 Private Residential Fixed Investment (USD Billion)
Figure 28 HVAC Systems Market Estimates & Forecasts, in Commercial, 2021-2033 (USD Billion)
Figure 29 HVAC Systems Market Estimates & Forecasts, in Industrial, 2021-2033 (USD Billion)
Figure 30 HVAC Systems, by Distribution Channel: Key Takeaways
Figure 31 HVAC Systems: Distribution Channel Movement Analysis & Market Share, 2025 & 2033
Figure 32 HVAC Systems Market Estimates & Forecasts, by Online Stores, 2021-2033 (USD Billion)
Figure 33 HVAC Systems Market Estimates & Forecasts, by Retail Stores, 2021-2033 (USD Billion)
Figure 34 HVAC Systems Market Estimates & Forecasts, by Wholesale Stores, 2021-2033 (USD Billion)
Figure 35 HVAC Systems Market Estimates & Forecasts, by Other Distribution Channels, 2021-2033 (USD Billion)
Figure 36 HVAC Systems Revenue, by Region, 2025 & 2033, (USD Billion)
Figure 37 Region Marketplace: Key Takeaways
Figure 38 North America HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 39 U.S. HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 40 Canada HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 41 Rising Housing Construction in Canada, 2022 (Units)
Figure 42 Mexico HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 43 Europe HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 44 Construction Investment, USD Billion, 2020-2023
Figure 45 Germany HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 46 UK HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 47 Italy HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 48 Spain HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 49 France HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 50 Türkiye HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 51 Asia-Pacific HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 52 China HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 53 India HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 54 Japan HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 55 South Korea HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 56 Australia HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 57 Middle East & Africa HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 58 Saudi Arabia HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 59 South Africa HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 60 Latin America HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 61 Brazil HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 62 Argentina HVAC Systems Market Estimates & Forecasts, 2021-2033 (USD Billion)
Figure 63 Key Company Categorization
Figure 64 Company Dashboard Analysis
Figure 65 Company Market Share Analysis, 2025
Figure 66 Company Market Positioning
Figure 67 Strategic Framework

Companies Mentioned

The companies profiled in this HVAC Systems market report include:
  • Carrier Corporation
  • DAIKIN INDUSTRIES Ltd.
  • Fujitsu
  • Haier Group
  • Panasonic Corporation
  • AAON
  • Johnson Controls
  • LG Electronics
  • Lennox International Inc.
  • Mitsubishi Electric Corporation
  • Rheem Manufacturing Company
  • SAMSUNG
  • Trane
  • Midea
  • Danfoss AS
  • Munters
  • Frigidaire HVAC
  • Bosch Group
  • STULZ Air Technology Systems, Inc.
  • Honeywell International Inc.

Table Information