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Global HVAC Market Report and Forecast 2022-2027

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    Report

  • 261 Pages
  • May 2022
  • Region: Global
  • Expert Market Research
  • ID: 5599778

FEATURED COMPANIES

  • Daikin Industries, Ltd
  • Emerson Electric Co.
  • Johnson Controls Internat
  • LG Electronics, Inc.
Global HVAC Market Report and Forecast 2022-2027According to this latest report, ‘Global HVAC Market Report and Forecast 2022-2027’, the global HVAC market attained a value of USD nearly 198.45 billion in 2021. Aided by the development of energy-efficient HVAC system, the market is projected to further grow at a CAGR of 5.1% between 2022 and 2027 to reach a value of around USD 278.96 billion by 2027.



Heating, Ventilation, and Air Conditioning (HVAC) refers to various technologies that control the temperature, humidity, and purity of the air in an enclosed space by replacing or exchanging the air between indoor and outdoor spaces. These systems offer thermal comfort in various end uses, including residences, offices, halls, and transport systems by maintaining an optimum temperature. The heating system absorbs the heat from outside and pulls it inside while the cooling system acts in reverse. The ventilation system provides oxygen replenishment and removes moisture, smoke, heat, dust, and carbon dioxide, among others. A smart HVAC system also offers remote access, energy efficiency, lower electricity bills, and better temperature variability. The various equipment in HVAC are heat pumps, boilers, furnaces, ventilation fans, air filters, cooling towers, air conditioners, and VRF systems, among others.

The growing population, improved living standards, and rapid urbanisation are leading to the increasing installation of HVAC systems, thereby contributing to the market growth. The rising construction activities and the development of energy-efficient buildings are resulting in the market expansion of HVAC. The prevalence of extreme weather conditions due to global warming is leading to the wide adoption of heaters and air conditioners for thermal comfort. Additionally, the increasing use of HVAC filters by health-conscious customers to filter pollutants or contaminants out of the air and reduce the spread of airborne diseases are likely to favour the market development. The development of smart HVAC systems with advanced technology such as Bluetooth, voice-activated control, and Wi-Fi is leading to the increased adoption of these systems across various end use sectors. The government regulations for proper ventilation to control moisture and reduce the chances of mould growth and structural damage are playing a critical role in the market expansion. For instance, in 2019, the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) revised the ventilation standards for a home's living area in ASHRAE Standard 62.2 for the acceptable indoor air quality and ventilation. Over the forecast period, the rising awareness about the importance of environmental sustainability and the efforts taken by the market players to develop energy-efficient HVAC systems that meet high-quality standards are expected to further augment the market growth.

Market Segmentation


The market report analyses the market based on segmentations such as equipment, implementation type, end use, and major region.

Market Breakup by Equipment

  • Heating
  • Heat Pumps
  • Air-to-air
  • Air-to-water
  • Water-to-water
  • Furnaces
  • Oil
  • Gas
  • Electric
  • Others
  • Boilers
  • Others
  • Ventilation
  • Air-Handling Units
  • Air Filters and Purifiers
  • Ventilation Fans
  • Axial Fans
  • Centrifugal Fans
  • Crossflow Fans
  • Others
  • Dehumidifiers and Humidifiers
  • Others
  • Cooling
  • Unitary Air Conditioners
  • Split
  • Packaged
  • VRF Systems
  • Chillers
  • Coolers
  • Cooling Towers
  • Evaporative
  • Dry cooling
  • Hybrid
  • Others

Market Segmentation by Implementation Type

  • New Constructions
  • Retrofits

Market Breakup by End Use

  • Residential
  • Commercial
  • Industrial

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape


The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the key players in the industry. Some of the major players in the market explored in the report are:
  • Lennox International, Inc.
  • LG Electronics, Inc.
  • Carrier Global Corporation
  • Samsung Electronics Co. Ltd.
  • Haier Smart Home Co., Ltd.
  • Daikin Industries, Ltd
  • Emerson Electric Co.
  • Honeywell International Inc.
  • Johnson Controls International plc
  • Others

FEATURED COMPANIES

  • Daikin Industries, Ltd
  • Emerson Electric Co.
  • Johnson Controls Internat
  • LG Electronics, Inc.

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global HVAC Market Analysis
8.1 Key Industry Highlights
8.2 Global HVAC Historical Market (2017-2021)
8.3 Global HVAC Market Forecast (2022-2027)
8.4 Global HVAC Market by Equipment
8.4.1 Heating
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.1.4 Breakup by Type
8.4.1.4.1 Heat Pumps
8.4.1.4.1.1 Market Share
8.4.1.4.1.2 Historical Trend (2017-2021)
8.4.1.4.1.3 Forecast Trend (2022-2027)
8.4.1.4.1.4 Breakup by Product
8.4.1.4.1.4.1 Air-to-air
8.4.1.4.1.4.2 Air-to-water
8.4.1.4.1.4.3 Water-to-water
8.4.1.4.2 Furnaces
8.4.1.4.2.1 Market Share
8.4.1.4.2.2 Historical Trend (2017-2021)
8.4.1.4.2.3 Forecast Trend (2022-2027)
8.4.1.4.2.4 Breakup by Product
8.4.1.4.2.4.1 Oil
8.4.1.4.2.4.2 Gas
8.4.1.4.2.4.3 Electric
8.4.1.4.2.4.2 Others
8.4.1.4.3 Boilers
8.4.1.4.3.1 Market Share
8.4.1.4.3.2 Historical Trend (2017-2021)
8.4.1.4.3.3 Forecast Trend (2022-2027)
8.4.2 Ventilation
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.2.4 Breakup by Type
8.4.2.4.1 Air-Handling Units
8.4.2.4.1.1 Market Share
8.4.2.4.1.2 Historical Trend (2017-2021)
8.4.2.4.1.3 Forecast Trend (2022-2027)
8.4.2.4.2 Air Filters and Purifiers
8.4.2.4.2.1 Market Share
8.4.2.4.2.2 Historical Trend (2017-2021)
8.4.2.4.2.3 Forecast Trend (2022-2027)
8.4.2.4.3 Ventilation Fans
8.4.2.4.3.1 Market Share
8.4.2.4.3.2 Historical Trend (2017-2021)
8.4.2.4.3.3 Forecast Trend (2022-2027)
8.4.2.4.3.4 Breakup by Product
8.4.2.4.3.4.1 Crossflow Fans
8.4.2.4.3.4.2 Axial Fans
8.4.2.4.3.4.3 Centrifugal Fans
8.4.2.4.3.4.4 Others
8.4.2.4.4 Dehumidifiers and Humidifiers
8.4.2.4.4.1 Market Share
8.4.2.4.4.2 Historical Trend (2017-2021)
8.4.2.4.4.3 Forecast Trend (2022-2027)
8.4.2.4.5 Others
8.4.3 Cooling
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
8.4.3.4 Breakup by Type
8.4.3.4.1 Unitary Air Conditioners
8.4.3.4.1.1 Market Share
8.4.3.4.1.2 Historical Trend (2017-2021)
8.4.3.4.1.3 Forecast Trend (2022-2027)
8.4.3.4.1.4 Breakup by Type
8.4.3.4.1.4.1 Split
8.4.3.4.1.4.2 Packaged
8.4.3.4.2 VRF Systems
8.4.3.4.2.1 Market Share
8.4.3.4.2.2 Historical Trend (2017-2021)
8.4.3.4.2.3 Forecast Trend (2022-2027)
8.4.3.4.3 Chillers
8.4.3.4.3.1 Market Share
8.4.3.4.3.2 Historical Trend (2017-2021)
8.4.3.4.3.3 Forecast Trend (2022-2027)
8.4.3.4.4 Coolers
8.4.3.4.4.1 Market Share
8.4.3.4.4.2 Historical Trend (2017-2021)
8.4.3.4.4.3 Forecast Trend (2022-2027)
8.4.3.4.5 Cooling Towers
8.4.3.4.5.1 Market Share
8.4.3.4.5.2 Historical Trend (2017-2021)
8.4.3.4.5.3 Forecast Trend (2022-2027)
8.4.3.4.5.4 Breakup by Type
8.4.3.4.5.4.1 Evaporative
8.4.3.4.5.4.2 Dry cooling
8.4.3.4.5.4.3 Hybrid
8.4.3.4.6 Ohers
8.5 Global HVAC Market by Implementation Type
8.5.1 New Constructions
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Retrofits
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.6 Global HVAC Market by End Use
8.6.1 Residential
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2017-2021)
8.6.1.3 Forecast Trend (2022-2027)
8.6.2 Commercial
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2021)
8.6.2.3 Forecast Trend (2022-2027)
8.6.3 Industrial
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2017-2021)
8.6.3.3 Forecast Trend (2022-2027)
8.7 Global HVAC Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Key Players
12.3 Company Profiles
12.3.1 LG Electronics, Inc.
12.3.1.1 Company Overview
12.3.1.2 Product Portfolio
12.3.1.3 Demographic Reach and Achievements
12.3.1.4 Certifications
12.3.2 Lennox International, Inc.
12.3.2.1 Company Overview
12.3.2.2 Product Portfolio
12.3.2.3 Demographic Reach and Achievements
12.3.2.4 Certifications
12.3.3 Carrier Global Corporation
12.3.3.1 Company Overview
12.3.3.2 Product Portfolio
12.3.3.3 Demographic Reach and Achievements
12.3.3.4 Certifications
12.3.4 Samsung Electronics Co. Ltd.
12.3.4.1 Company Overview
12.3.4.2 Product Portfolio
12.3.4.3 Demographic Reach and Achievements
12.3.4.4 Certifications
12.3.5 Haier Smart Home Co., Ltd.
12.3.5.1 Company Overview
12.3.5.2 Product Portfolio
12.3.5.3 Demographic Reach and Achievements
12.3.5.4 Certifications
12.3.6 Daikin Industries, Ltd
12.3.6.1 Company Overview
12.3.6.2 Product Portfolio
12.3.6.3 Demographic Reach and Achievements
12.3.6.4 Certifications
12.3.7 Emerson Electric Co.
12.3.7.1 Company Overview
12.3.7.2 Product Portfolio
12.3.7.3 Demographic Reach and Achievements
12.3.7.4 Certifications
12.3.8 Honeywell International Inc.
12.3.8.1 Company Overview
12.3.8.2 Product Portfolio
12.3.8.3 Demographic Reach and Achievements
12.3.8.4 Certifications
12.3.9 Johnson Controls International plc
12.3.9.1 Company Overview
12.3.9.2 Product Portfolio
12.3.9.3 Demographic Reach and Achievements
12.3.9.4 Certifications
12.3.10 Others
13 Industry Events and Developments
  • Lennox International, Inc.
  • LG Electronics, Inc.
  • Carrier Global Corporation
  • Samsung Electronics Co. Ltd.
  • Haier Smart Home Co., Ltd.
  • Daikin Industries, Ltd
  • Emerson Electric Co.
  • Honeywell International Inc.
  • Johnson Controls Internat

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