HVAC Equipment Market - Global Forecast 2026-2032

The HVAC equipment market is experiencing rapid transformation as digital technologies, energy transitions, and regulatory shifts converge to create new challenges and opportunities. Senior executives navigating procurement, system design, and service models must adapt strategies to remain resilient in changing market conditions while optimizing outcomes across commercial, industrial, and residential applications.

Market Snapshot: HVAC Equipment Market Size and Forecast

The HVAC equipment market size is projected to grow from USD 201.16 billion in 2025 to USD 210.72 billion in 2026, reflecting continued expansion at a CAGR of 5.32%. This trajectory is set to take the market value to USD 289.33 billion by 2032 as organizations target improved building performance, efficiency, and comfort standards.

Scope & Segmentation

Technology Types: The landscape spans traditional mechanical HVAC systems as well as next-generation smart HVAC platforms. The latter integrate advanced monitoring and digital controls, offering performance and predictive analytics for demanding environments.
Fuel Sources: HVAC equipment leverages electric, gas, oil, and renewable energy, supporting a range of configurations including heat pumps, chillers, and hybrid solutions. This diversity addresses both decarbonization goals and energy resilience.
End-Use Applications: Solutions address the requirements of commercial, industrial, and residential sectors. Each application segment requires distinct approaches to system reliability, integration with thermal processes, and occupant health priorities.
Component Hierarchies: Equipment categories include chillers (absorption, centrifugal, screw), air conditioning (packaged, rooftop, split, variable refrigerant flow), and a comprehensive set of heating (boilers, furnaces, heat pumps) and ventilation (air handling units, energy recovery ventilators, exhaust fans) components.
Product Families: Focus on chillers reveals subtypes engineered for specific efficiency thresholds and operational applications, underlining the importance of nuanced equipment selection.
Regions: Market analysis covers Americas, Europe Middle East & Africa, and Asia-Pacific regions. Each displays unique trends such as regulatory priorities in Europe, procurement adaptation in North America, and rapid urban development in Asia-Pacific.

Key Takeaways: Strategic Insights for Senior Leaders

Procurement strategies now require alignment with evolving building codes, energy standards, and a greater emphasis on optimizing air quality and occupant well-being.
Manufacturers and service firms must address demands for energy-efficient solutions while integrating smart digital controls that enable real-time monitoring and predictive maintenance across portfolios.
Organizations are moving from transactional procurement toward outcome-based service models, focusing on lifecycle optimization and reduced operational exposures.
Digital transformation and electrification remain central, with embedded sensors and connected platforms simplifying asset management and proactive maintenance for stakeholders.
Tailored strategies are necessary as regional and segment-specific developments—such as electrification trends in Europe or urbanization in Asia-Pacific—drive varied technology adoption rates and supply chain shifts.

Tariff Impact: Effects of U.S. 2025 Measures

United States tariffs introduced in 2025 have shifted HVAC sourcing strategies, prompting stronger emphasis on domestic and regional manufacturing footprints. Companies responded by recalibrating supplier networks to manage cost uncertainty while closely assessing total cost of ownership and risks to service continuity.

Methodology & Data Sources

Analysis in this report is informed by direct input from structured interviews with industry experts and leading manufacturers, as well as evaluation of regulatory and standards documentation. This approach combines detailed component reviews with supply chain mapping to produce reliable, actionable market intelligence for senior decision-makers.

Why This Report Matters

Enables senior executives to clarify how technology convergence, regulatory change, and supply chain dynamics are influencing HVAC equipment strategy.
Supports informed evaluation of investment decisions, preferred supplier relationships, and tailored service models by product segment and market region.
Equips organizations to anticipate regulatory shifts and plan for procurement, workforce, and digital transitions, reinforcing resilience in complex market landscapes.

Conclusion

Technology integration, evolving energy sources, and regulatory requirements are redefining HVAC equipment strategies. Leaders who prioritize modular design, digital capabilities, and diversified sourcing will be positioned to enhance both operational and competitive resilience.

Additional Product Information:

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1. Preface

1.1. Objectives of the Study
1.2. Market Definition
1.3. Market Segmentation & Coverage
1.4. Years Considered for the Study
1.5. Currency Considered for the Study
1.6. Language Considered for the Study
1.7. Key Stakeholders

2. Research Methodology

2.1. Introduction
2.2. Research Design
2.2.1. Primary Research
2.2.2. Secondary Research
2.3. Research Framework
2.3.1. Qualitative Analysis
2.3.2. Quantitative Analysis
2.4. Market Size Estimation
2.4.1. Top-Down Approach
2.4.2. Bottom-Up Approach
2.5. Data Triangulation
2.6. Research Outcomes
2.7. Research Assumptions
2.8. Research Limitations

3. Executive Summary

3.1. Introduction
3.2. CXO Perspective
3.3. Market Size & Growth Trends
3.4. Market Share Analysis, 2025
3.5. FPNV Positioning Matrix, 2025
3.6. New Revenue Opportunities
3.7. Next-Generation Business Models
3.8. Industry Roadmap

4. Market Overview

4.1. Introduction
4.2. Industry Ecosystem & Value Chain Analysis
4.2.1. Supply-Side Analysis
4.2.2. Demand-Side Analysis
4.2.3. Stakeholder Analysis
4.3. Porter’s Five Forces Analysis
4.4. PESTLE Analysis
4.5. Market Outlook
4.5.1. Near-Term Market Outlook (0-2 Years)
4.5.2. Medium-Term Market Outlook (3-5 Years)
4.5.3. Long-Term Market Outlook (5-10 Years)
4.6. Go-to-Market Strategy

5. Market Insights

5.1. Consumer Insights & End-User Perspective
5.2. Consumer Experience Benchmarking
5.3. Opportunity Mapping
5.4. Distribution Channel Analysis
5.5. Pricing Trend Analysis
5.6. Regulatory Compliance & Standards Framework
5.7. ESG & Sustainability Analysis
5.8. Disruption & Risk Scenarios
5.9. Return on Investment & Cost-Benefit Analysis

6. Cumulative Impact of United States Tariffs 2025
7. Cumulative Impact of Artificial Intelligence 2025

8. HVAC Equipment Market, by Component

8.1. Air Conditioning Systems
8.1.1. Chillers
8.1.2. Packaged Air Conditioner
8.1.3. Rooftop Air Conditioner
8.1.4. Split Air Conditioner
8.1.5. Vrf Systems
8.2. Heating Systems
8.2.1. Boilers
8.2.2. Furnaces
8.2.3. Heat Pumps
8.3. Ventilation Systems
8.3.1. Air Handling Units
8.3.2. Energy Recovery Ventilators
8.3.3. Exhaust Fans

9. HVAC Equipment Market, by Technology

9.1. Conventional Hvac
9.2. Smart Hvac

10. HVAC Equipment Market, by Fuel Type

10.1. Electric
10.2. Gas
10.3. Oil
10.4. Solar

11. HVAC Equipment Market, by End Use

11.1. Commercial
11.2. Industrial
11.3. Residential

12. HVAC Equipment Market, by Region

12.1. Americas
12.1.1. North America
12.1.2. Latin America
12.2. Europe, Middle East & Africa
12.2.1. Europe
12.2.2. Middle East
12.2.3. Africa
12.3. Asia-Pacific

13. HVAC Equipment Market, by Group

13.1. ASEAN
13.2. GCC
13.3. European Union
13.4. BRICS
13.5. G7
13.6. NATO

14. HVAC Equipment Market, by Country

14.1. United States
14.2. Canada
14.3. Mexico
14.4. Brazil
14.5. United Kingdom
14.6. Germany
14.7. France
14.8. Russia
14.9. Italy
14.10. Spain
14.11. China
14.12. India
14.13. Japan
14.14. Australia
14.15. South Korea

15. United States HVAC Equipment Market
16. China HVAC Equipment Market

17. Competitive Landscape

17.1. Market Concentration Analysis, 2025
17.1.1. Concentration Ratio (CR)
17.1.2. Herfindahl Hirschman Index (HHI)
17.2. Recent Developments & Impact Analysis, 2025
17.3. Product Portfolio Analysis, 2025
17.4. Benchmarking Analysis, 2025
17.5. A. O. Smith Corporation
17.6. Carrier Corporation
17.7. Daikin Industries, Ltd.
17.8. Danfoss A/S
17.9. Emerson Electric Co.
17.10. Fujitsu Limited
17.11. Gree Electric Appliances Inc.
17.12. Haier Group Corporation
17.13. Hitachi Air Conditioning Company
17.14. Honeywell International, Inc.
17.15. Johnson Controls International PLC
17.16. Lennox International, Inc.
17.17. LG Electronics
17.18. Midea Group
17.19. Mitsubishi Electric
17.20. Nortek Global HVAC LLC
17.21. Panasonic Holdings Corporation
17.22. Raytheon Technologies Corporation
17.23. Rheem Manufacturing Company by Paloma Co., Ltd.
17.24. Samsung Electronics Co., Ltd.
17.25. Trane Technologies Company, LLC
17.26. Vaillant Group
17.27. Whirlpool Corporation
17.28. Wolf GmbH

List of Figures

FIGURE 1. GLOBAL HVAC EQUIPMENT MARKET SIZE, 2018-2032 (USD MILLION)
FIGURE 2. GLOBAL HVAC EQUIPMENT MARKET SHARE, BY KEY PLAYER, 2025
FIGURE 3. GLOBAL HVAC EQUIPMENT MARKET, FPNV POSITIONING MATRIX, 2025
FIGURE 4. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY COMPONENT, 2025 VS 2026 VS 2032 (USD MILLION)
FIGURE 5. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY TECHNOLOGY, 2025 VS 2026 VS 2032 (USD MILLION)
FIGURE 6. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY FUEL TYPE, 2025 VS 2026 VS 2032 (USD MILLION)
FIGURE 7. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY END USE, 2025 VS 2026 VS 2032 (USD MILLION)
FIGURE 8. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY REGION, 2025 VS 2026 VS 2032 (USD MILLION)
FIGURE 9. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY GROUP, 2025 VS 2026 VS 2032 (USD MILLION)
FIGURE 10. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY COUNTRY, 2025 VS 2026 VS 2032 (USD MILLION)
FIGURE 11. UNITED STATES HVAC EQUIPMENT MARKET SIZE, 2018-2032 (USD MILLION)
FIGURE 12. CHINA HVAC EQUIPMENT MARKET SIZE, 2018-2032 (USD MILLION)

List of Tables

TABLE 1. GLOBAL HVAC EQUIPMENT MARKET SIZE, 2018-2032 (USD MILLION)
TABLE 2. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY COMPONENT, 2018-2032 (USD MILLION)
TABLE 3. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, BY REGION, 2018-2032 (USD MILLION)
TABLE 4. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 5. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 6. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 7. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY CHILLERS, BY REGION, 2018-2032 (USD MILLION)
TABLE 8. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY CHILLERS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 9. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY CHILLERS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 10. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY PACKAGED AIR CONDITIONER, BY REGION, 2018-2032 (USD MILLION)
TABLE 11. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY PACKAGED AIR CONDITIONER, BY GROUP, 2018-2032 (USD MILLION)
TABLE 12. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY PACKAGED AIR CONDITIONER, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 13. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY ROOFTOP AIR CONDITIONER, BY REGION, 2018-2032 (USD MILLION)
TABLE 14. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY ROOFTOP AIR CONDITIONER, BY GROUP, 2018-2032 (USD MILLION)
TABLE 15. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY ROOFTOP AIR CONDITIONER, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 16. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY SPLIT AIR CONDITIONER, BY REGION, 2018-2032 (USD MILLION)
TABLE 17. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY SPLIT AIR CONDITIONER, BY GROUP, 2018-2032 (USD MILLION)
TABLE 18. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY SPLIT AIR CONDITIONER, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 19. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY VRF SYSTEMS, BY REGION, 2018-2032 (USD MILLION)
TABLE 20. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY VRF SYSTEMS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 21. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY VRF SYSTEMS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 22. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, BY REGION, 2018-2032 (USD MILLION)
TABLE 23. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 24. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 25. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 26. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY BOILERS, BY REGION, 2018-2032 (USD MILLION)
TABLE 27. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY BOILERS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 28. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY BOILERS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 29. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY FURNACES, BY REGION, 2018-2032 (USD MILLION)
TABLE 30. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY FURNACES, BY GROUP, 2018-2032 (USD MILLION)
TABLE 31. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY FURNACES, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 32. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY HEAT PUMPS, BY REGION, 2018-2032 (USD MILLION)
TABLE 33. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY HEAT PUMPS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 34. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY HEAT PUMPS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 35. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, BY REGION, 2018-2032 (USD MILLION)
TABLE 36. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 37. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 38. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, 2018-2032 (USD MILLION)
TABLE 39. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY AIR HANDLING UNITS, BY REGION, 2018-2032 (USD MILLION)
TABLE 40. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY AIR HANDLING UNITS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 41. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY AIR HANDLING UNITS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 42. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY ENERGY RECOVERY VENTILATORS, BY REGION, 2018-2032 (USD MILLION)
TABLE 43. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY ENERGY RECOVERY VENTILATORS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 44. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY ENERGY RECOVERY VENTILATORS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 45. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY EXHAUST FANS, BY REGION, 2018-2032 (USD MILLION)
TABLE 46. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY EXHAUST FANS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 47. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY EXHAUST FANS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 48. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY TECHNOLOGY, 2018-2032 (USD MILLION)
TABLE 49. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY CONVENTIONAL HVAC, BY REGION, 2018-2032 (USD MILLION)
TABLE 50. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY CONVENTIONAL HVAC, BY GROUP, 2018-2032 (USD MILLION)
TABLE 51. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY CONVENTIONAL HVAC, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 52. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY SMART HVAC, BY REGION, 2018-2032 (USD MILLION)
TABLE 53. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY SMART HVAC, BY GROUP, 2018-2032 (USD MILLION)
TABLE 54. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY SMART HVAC, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 55. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY FUEL TYPE, 2018-2032 (USD MILLION)
TABLE 56. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY ELECTRIC, BY REGION, 2018-2032 (USD MILLION)
TABLE 57. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY ELECTRIC, BY GROUP, 2018-2032 (USD MILLION)
TABLE 58. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY ELECTRIC, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 59. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY GAS, BY REGION, 2018-2032 (USD MILLION)
TABLE 60. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY GAS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 61. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY GAS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 62. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY OIL, BY REGION, 2018-2032 (USD MILLION)
TABLE 63. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY OIL, BY GROUP, 2018-2032 (USD MILLION)
TABLE 64. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY OIL, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 65. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY SOLAR, BY REGION, 2018-2032 (USD MILLION)
TABLE 66. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY SOLAR, BY GROUP, 2018-2032 (USD MILLION)
TABLE 67. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY SOLAR, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 68. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY END USE, 2018-2032 (USD MILLION)
TABLE 69. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY COMMERCIAL, BY REGION, 2018-2032 (USD MILLION)
TABLE 70. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY COMMERCIAL, BY GROUP, 2018-2032 (USD MILLION)
TABLE 71. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY COMMERCIAL, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 72. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY INDUSTRIAL, BY REGION, 2018-2032 (USD MILLION)
TABLE 73. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY INDUSTRIAL, BY GROUP, 2018-2032 (USD MILLION)
TABLE 74. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY INDUSTRIAL, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 75. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY RESIDENTIAL, BY REGION, 2018-2032 (USD MILLION)
TABLE 76. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY RESIDENTIAL, BY GROUP, 2018-2032 (USD MILLION)
TABLE 77. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY RESIDENTIAL, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 78. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY REGION, 2018-2032 (USD MILLION)
TABLE 79. AMERICAS HVAC EQUIPMENT MARKET SIZE, BY SUBREGION, 2018-2032 (USD MILLION)
TABLE 80. AMERICAS HVAC EQUIPMENT MARKET SIZE, BY COMPONENT, 2018-2032 (USD MILLION)
TABLE 81. AMERICAS HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 82. AMERICAS HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 83. AMERICAS HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, 2018-2032 (USD MILLION)
TABLE 84. AMERICAS HVAC EQUIPMENT MARKET SIZE, BY TECHNOLOGY, 2018-2032 (USD MILLION)
TABLE 85. AMERICAS HVAC EQUIPMENT MARKET SIZE, BY FUEL TYPE, 2018-2032 (USD MILLION)
TABLE 86. AMERICAS HVAC EQUIPMENT MARKET SIZE, BY END USE, 2018-2032 (USD MILLION)
TABLE 87. NORTH AMERICA HVAC EQUIPMENT MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 88. NORTH AMERICA HVAC EQUIPMENT MARKET SIZE, BY COMPONENT, 2018-2032 (USD MILLION)
TABLE 89. NORTH AMERICA HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 90. NORTH AMERICA HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 91. NORTH AMERICA HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, 2018-2032 (USD MILLION)
TABLE 92. NORTH AMERICA HVAC EQUIPMENT MARKET SIZE, BY TECHNOLOGY, 2018-2032 (USD MILLION)
TABLE 93. NORTH AMERICA HVAC EQUIPMENT MARKET SIZE, BY FUEL TYPE, 2018-2032 (USD MILLION)
TABLE 94. NORTH AMERICA HVAC EQUIPMENT MARKET SIZE, BY END USE, 2018-2032 (USD MILLION)
TABLE 95. LATIN AMERICA HVAC EQUIPMENT MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 96. LATIN AMERICA HVAC EQUIPMENT MARKET SIZE, BY COMPONENT, 2018-2032 (USD MILLION)
TABLE 97. LATIN AMERICA HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 98. LATIN AMERICA HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 99. LATIN AMERICA HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, 2018-2032 (USD MILLION)
TABLE 100. LATIN AMERICA HVAC EQUIPMENT MARKET SIZE, BY TECHNOLOGY, 2018-2032 (USD MILLION)
TABLE 101. LATIN AMERICA HVAC EQUIPMENT MARKET SIZE, BY FUEL TYPE, 2018-2032 (USD MILLION)
TABLE 102. LATIN AMERICA HVAC EQUIPMENT MARKET SIZE, BY END USE, 2018-2032 (USD MILLION)
TABLE 103. EUROPE, MIDDLE EAST & AFRICA HVAC EQUIPMENT MARKET SIZE, BY SUBREGION, 2018-2032 (USD MILLION)
TABLE 104. EUROPE, MIDDLE EAST & AFRICA HVAC EQUIPMENT MARKET SIZE, BY COMPONENT, 2018-2032 (USD MILLION)
TABLE 105. EUROPE, MIDDLE EAST & AFRICA HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 106. EUROPE, MIDDLE EAST & AFRICA HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 107. EUROPE, MIDDLE EAST & AFRICA HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, 2018-2032 (USD MILLION)
TABLE 108. EUROPE, MIDDLE EAST & AFRICA HVAC EQUIPMENT MARKET SIZE, BY TECHNOLOGY, 2018-2032 (USD MILLION)
TABLE 109. EUROPE, MIDDLE EAST & AFRICA HVAC EQUIPMENT MARKET SIZE, BY FUEL TYPE, 2018-2032 (USD MILLION)
TABLE 110. EUROPE, MIDDLE EAST & AFRICA HVAC EQUIPMENT MARKET SIZE, BY END USE, 2018-2032 (USD MILLION)
TABLE 111. EUROPE HVAC EQUIPMENT MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 112. EUROPE HVAC EQUIPMENT MARKET SIZE, BY COMPONENT, 2018-2032 (USD MILLION)
TABLE 113. EUROPE HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 114. EUROPE HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 115. EUROPE HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, 2018-2032 (USD MILLION)
TABLE 116. EUROPE HVAC EQUIPMENT MARKET SIZE, BY TECHNOLOGY, 2018-2032 (USD MILLION)
TABLE 117. EUROPE HVAC EQUIPMENT MARKET SIZE, BY FUEL TYPE, 2018-2032 (USD MILLION)
TABLE 118. EUROPE HVAC EQUIPMENT MARKET SIZE, BY END USE, 2018-2032 (USD MILLION)
TABLE 119. MIDDLE EAST HVAC EQUIPMENT MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 120. MIDDLE EAST HVAC EQUIPMENT MARKET SIZE, BY COMPONENT, 2018-2032 (USD MILLION)
TABLE 121. MIDDLE EAST HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 122. MIDDLE EAST HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 123. MIDDLE EAST HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, 2018-2032 (USD MILLION)
TABLE 124. MIDDLE EAST HVAC EQUIPMENT MARKET SIZE, BY TECHNOLOGY, 2018-2032 (USD MILLION)
TABLE 125. MIDDLE EAST HVAC EQUIPMENT MARKET SIZE, BY FUEL TYPE, 2018-2032 (USD MILLION)
TABLE 126. MIDDLE EAST HVAC EQUIPMENT MARKET SIZE, BY END USE, 2018-2032 (USD MILLION)
TABLE 127. AFRICA HVAC EQUIPMENT MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 128. AFRICA HVAC EQUIPMENT MARKET SIZE, BY COMPONENT, 2018-2032 (USD MILLION)
TABLE 129. AFRICA HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 130. AFRICA HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 131. AFRICA HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, 2018-2032 (USD MILLION)
TABLE 132. AFRICA HVAC EQUIPMENT MARKET SIZE, BY TECHNOLOGY, 2018-2032 (USD MILLION)
TABLE 133. AFRICA HVAC EQUIPMENT MARKET SIZE, BY FUEL TYPE, 2018-2032 (USD MILLION)
TABLE 134. AFRICA HVAC EQUIPMENT MARKET SIZE, BY END USE, 2018-2032 (USD MILLION)
TABLE 135. ASIA-PACIFIC HVAC EQUIPMENT MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 136. ASIA-PACIFIC HVAC EQUIPMENT MARKET SIZE, BY COMPONENT, 2018-2032 (USD MILLION)
TABLE 137. ASIA-PACIFIC HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 138. ASIA-PACIFIC HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 139. ASIA-PACIFIC HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, 2018-2032 (USD MILLION)
TABLE 140. ASIA-PACIFIC HVAC EQUIPMENT MARKET SIZE, BY TECHNOLOGY, 2018-2032 (USD MILLION)
TABLE 141. ASIA-PACIFIC HVAC EQUIPMENT MARKET SIZE, BY FUEL TYPE, 2018-2032 (USD MILLION)
TABLE 142. ASIA-PACIFIC HVAC EQUIPMENT MARKET SIZE, BY END USE, 2018-2032 (USD MILLION)
TABLE 143. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY GROUP, 2018-2032 (USD MILLION)
TABLE 144. ASEAN HVAC EQUIPMENT MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 145. ASEAN HVAC EQUIPMENT MARKET SIZE, BY COMPONENT, 2018-2032 (USD MILLION)
TABLE 146. ASEAN HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 147. ASEAN HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 148. ASEAN HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, 2018-2032 (USD MILLION)
TABLE 149. ASEAN HVAC EQUIPMENT MARKET SIZE, BY TECHNOLOGY, 2018-2032 (USD MILLION)
TABLE 150. ASEAN HVAC EQUIPMENT MARKET SIZE, BY FUEL TYPE, 2018-2032 (USD MILLION)
TABLE 151. ASEAN HVAC EQUIPMENT MARKET SIZE, BY END USE, 2018-2032 (USD MILLION)
TABLE 152. GCC HVAC EQUIPMENT MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 153. GCC HVAC EQUIPMENT MARKET SIZE, BY COMPONENT, 2018-2032 (USD MILLION)
TABLE 154. GCC HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 155. GCC HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 156. GCC HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, 2018-2032 (USD MILLION)
TABLE 157. GCC HVAC EQUIPMENT MARKET SIZE, BY TECHNOLOGY, 2018-2032 (USD MILLION)
TABLE 158. GCC HVAC EQUIPMENT MARKET SIZE, BY FUEL TYPE, 2018-2032 (USD MILLION)
TABLE 159. GCC HVAC EQUIPMENT MARKET SIZE, BY END USE, 2018-2032 (USD MILLION)
TABLE 160. EUROPEAN UNION HVAC EQUIPMENT MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 161. EUROPEAN UNION HVAC EQUIPMENT MARKET SIZE, BY COMPONENT, 2018-2032 (USD MILLION)
TABLE 162. EUROPEAN UNION HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 163. EUROPEAN UNION HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 164. EUROPEAN UNION HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, 2018-2032 (USD MILLION)
TABLE 165. EUROPEAN UNION HVAC EQUIPMENT MARKET SIZE, BY TECHNOLOGY, 2018-2032 (USD MILLION)
TABLE 166. EUROPEAN UNION HVAC EQUIPMENT MARKET SIZE, BY FUEL TYPE, 2018-2032 (USD MILLION)
TABLE 167. EUROPEAN UNION HVAC EQUIPMENT MARKET SIZE, BY END USE, 2018-2032 (USD MILLION)
TABLE 168. BRICS HVAC EQUIPMENT MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 169. BRICS HVAC EQUIPMENT MARKET SIZE, BY COMPONENT, 2018-2032 (USD MILLION)
TABLE 170. BRICS HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 171. BRICS HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 172. BRICS HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, 2018-2032 (USD MILLION)
TABLE 173. BRICS HVAC EQUIPMENT MARKET SIZE, BY TECHNOLOGY, 2018-2032 (USD MILLION)
TABLE 174. BRICS HVAC EQUIPMENT MARKET SIZE, BY FUEL TYPE, 2018-2032 (USD MILLION)
TABLE 175. BRICS HVAC EQUIPMENT MARKET SIZE, BY END USE, 2018-2032 (USD MILLION)
TABLE 176. G7 HVAC EQUIPMENT MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 177. G7 HVAC EQUIPMENT MARKET SIZE, BY COMPONENT, 2018-2032 (USD MILLION)
TABLE 178. G7 HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 179. G7 HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 180. G7 HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, 2018-2032 (USD MILLION)
TABLE 181. G7 HVAC EQUIPMENT MARKET SIZE, BY TECHNOLOGY, 2018-2032 (USD MILLION)
TABLE 182. G7 HVAC EQUIPMENT MARKET SIZE, BY FUEL TYPE, 2018-2032 (USD MILLION)
TABLE 183. G7 HVAC EQUIPMENT MARKET SIZE, BY END USE, 2018-2032 (USD MILLION)
TABLE 184. NATO HVAC EQUIPMENT MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 185. NATO HVAC EQUIPMENT MARKET SIZE, BY COMPONENT, 2018-2032 (USD MILLION)
TABLE 186. NATO HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 187. NATO HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 188. NATO HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, 2018-2032 (USD MILLION)
TABLE 189. NATO HVAC EQUIPMENT MARKET SIZE, BY TECHNOLOGY, 2018-2032 (USD MILLION)
TABLE 190. NATO HVAC EQUIPMENT MARKET SIZE, BY FUEL TYPE, 2018-2032 (USD MILLION)
TABLE 191. NATO HVAC EQUIPMENT MARKET SIZE, BY END USE, 2018-2032 (USD MILLION)
TABLE 192. GLOBAL HVAC EQUIPMENT MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 193. UNITED STATES HVAC EQUIPMENT MARKET SIZE, 2018-2032 (USD MILLION)
TABLE 194. UNITED STATES HVAC EQUIPMENT MARKET SIZE, BY COMPONENT, 2018-2032 (USD MILLION)
TABLE 195. UNITED STATES HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 196. UNITED STATES HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 197. UNITED STATES HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, 2018-2032 (USD MILLION)
TABLE 198. UNITED STATES HVAC EQUIPMENT MARKET SIZE, BY TECHNOLOGY, 2018-2032 (USD MILLION)
TABLE 199. UNITED STATES HVAC EQUIPMENT MARKET SIZE, BY FUEL TYPE, 2018-2032 (USD MILLION)
TABLE 200. UNITED STATES HVAC EQUIPMENT MARKET SIZE, BY END USE, 2018-2032 (USD MILLION)
TABLE 201. CHINA HVAC EQUIPMENT MARKET SIZE, 2018-2032 (USD MILLION)
TABLE 202. CHINA HVAC EQUIPMENT MARKET SIZE, BY COMPONENT, 2018-2032 (USD MILLION)
TABLE 203. CHINA HVAC EQUIPMENT MARKET SIZE, BY AIR CONDITIONING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 204. CHINA HVAC EQUIPMENT MARKET SIZE, BY HEATING SYSTEMS, 2018-2032 (USD MILLION)
TABLE 205. CHINA HVAC EQUIPMENT MARKET SIZE, BY VENTILATION SYSTEMS, 2018-2032 (USD MILLION)
TABLE 206. CHINA HVAC EQUIPMENT MARKET SIZE, BY TECHNOLOGY, 2018-2032 (USD MILLION)
TABLE 207. CHINA HVAC EQUIPMENT MARKET SIZE, BY FUEL TYPE, 2018-2032 (USD MILLION)
TABLE 208. CHINA HVAC EQUIPMENT MARKET SIZE, BY END USE, 2018-2032 (USD MILLION)

Companies Mentioned

The key companies profiled in this HVAC Equipment market report include:

A. O. Smith Corporation
Carrier Corporation
Daikin Industries, Ltd.
Danfoss A/S
Emerson Electric Co.
Fujitsu Limited
Gree Electric Appliances Inc.
Haier Group Corporation
Hitachi Air Conditioning Company
Honeywell International, Inc.
Johnson Controls International PLC
Lennox International, Inc.
LG Electronics
Midea Group
Mitsubishi Electric
Nortek Global HVAC LLC
Panasonic Holdings Corporation
Raytheon Technologies Corporation
Rheem Manufacturing Company by Paloma Co., Ltd.
Samsung Electronics Co., Ltd.
Trane Technologies Company, LLC
Vaillant Group
Whirlpool Corporation
Wolf GmbH

Table Information

Report Attribute	Details
No. of Pages	185
Published	January 2026
Forecast Period	2026 - 2032
Estimated Market Value ( USD ) in 2026	$ 210.72 Billion
Forecasted Market Value ( USD ) by 2032	$ 289.33 Billion
Compound Annual Growth Rate	5.3%
Regions Covered	Global
No. of Companies Mentioned	25

License	Properties	Price
SINGLE USER LICENSE PDF, Excel and Online Access	This is a single user license, allowing one user access to the product.	€3504EUR$3,939USD£3,037GBP
1 - 5 USER LICENSE PDF, Excel and Online Access	This is a 1-5 user license, allowing up to five users have access to the product.	€3779EUR$4,249USD£3,276GBP
SITE LICENSE PDF, Excel and Online Access	This is a site license, allowing all users within a given geographical location of your organization access to the product.	€5123EUR$5,759USD£4,440GBP
ENTERPRISE LICENSE PDF, Excel and Online Access	This is an enterprise license, allowing all employees within your organization access to the product.	€6199EUR$6,969USD£5,372GBP

Market Snapshot: HVAC Equipment Market Size and Forecast

Scope & Segmentation

Key Takeaways: Strategic Insights for Senior Leaders

Tariff Impact: Effects of U.S. 2025 Measures

Methodology & Data Sources

Why This Report Matters

Conclusion

Table of Contents

Companies Mentioned

Table Information

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