Global Heating, Ventilation and Air Conditioning Market Report 2024: Sustainable Initiatives and Emerging Technologies Propel HVAC Market to $346.7 Billion by 2028

Dublin, June 10, 2024 (GLOBE NEWSWIRE) -- The "Heating, Ventilation and Air Conditioning: Global Markets: 2023-2028" report has been added to's offering.

The global market for heating, ventilation, and air conditioning (HVAC) is expected to grow from $263.6 billion in 2023 and is projected to reach $346.7 billion by the end of 2028, at a compound annual growth rate (CAGR) of 5.6% during the forecast period of 2023 to 2028.

This report analyzes segments of the HVAC market, including product type, installation type, application, and regional development. The product type segment is divided into heating equipment, ventilation equipment and cooling equipment. The global market is broken down into North America, Europe, Asia-Pacific and the Rest of the World (RoW).

The study looks at leading companies' business footprints, product types and revenue, as well as a patent analysis for the HVAC industry. The study also includes chapters on ESG (environment, social and governance), emerging technologies, and the competitive landscape. The report also analyzes the impact of the Russia-Ukraine war on the global and regional markets.

In this study, 2022 is the base year for the market analysis, estimated values are provided for 2023, and market values are forecast from 2023 to 2028. Compound annual growth rates (CAGRs) are provided for 2023 to 2028. All market values are provided in millions of dollars.

Report Scope:

  • An overview of the global markets for heating, ventilation, and air conditioning (HVAC) systems
  • Analyses of the global market trends, with historical market revenue data (sales figures) for 2022, 2023, estimates for 2024, forecasts for 2026 and projections of compound annual growth rates (CAGRs) through 2028
  • Estimate of the market size and revenue forecast for the global HVAC market, and a corresponding market share analysis based on heating equipment, ventilation equipment, cooling equipment, Installation type, application and region
  • An analysis of the drivers and challenges that affect the global market
  • Review of the technological and regulatory issues, along with macroeconomic trends and variables that may influence market demand
  • Discussion of the importance of ESG in the HVAC industry, including consumer attitudes, the impact of ESG on company performance, an analysis of companies' ESG scores and the future of ESG, and ESG practices of leading companies
  • An analysis of the competitive landscape, including company market shares, recent M&A activity, and the outlook for venture funding
  • Profiles of the leading market players, including Daikin Industries Ltd., Carrier Corp., Johnson Controls, Lennox International Inc., and Hitachi Ltd.

Key Attributes:

Report AttributeDetails
No. of Pages143
Forecast Period2023 - 2028
Estimated Market Value (USD) in 2023$263.6 Billion
Forecasted Market Value (USD) by 2028$346.7 Billion
Compound Annual Growth Rate5.6%
Regions CoveredGlobal

Key Topics Covered:

Chapter 1 Executive Summary

Chapter 2 Market Overview

  • Market Overview
  • Types of HVAC Systems
  • Value Chain Analysis
  • Porter's Five Forces Model
  • PESTLE Analysis

Chapter 3 Market Dynamics

  • Market Dynamics
  • Market Drivers
  • Market Restraints
  • Current Market Trends
  • Market Opportunities

Chapter 4 Emerging Technologies and Developments

  • HVAC Technologies
  • Future of HVAC Technology
  • Patent Analysis
  • Patent Descriptions

Chapter 5 Market Segmentation Analysis

  • HVAC Market, by Product Type
    • Heating Equipment
    • Ventilation Equipment
    • Cooling Equipment
  • HVAC Market, by Installation Type
    • New Construction
    • Retrofitting and Replacement
  • HVAC Market, by Application
    • Residential
    • Industrial
    • Commercial
  • Geographic Breakdown

Chapter 6 Competitive Intelligence

  • Market Ranking of Leading HVAC Companies
  • Recent Developments
  • M&A and Venture Funding Outlook
  • M&A Analysis
  • Venture Funding Analysis

Chapter 7 Sustainability in the HVAC Industry: An ESG Perspective

  • Sustainable Initiatives in the HVAC Industry
  • Status of ESG in the HVAC Market

Company Profiles

  • Carrier
  • Daikin Industries Ltd.
  • Emerson Electric Co.
  • Gree Electric Appliances Inc. Of Zhuhai
  • Hitachi Ltd.
  • Johnson Controls
  • Lennox International Inc.
  • Mitsubishi Electric Corp.
  • Nortek Global HVAC
  • Rheem Manufacturing Co.
  • Samsung HVAC
  • Trane Technologies

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Global Heating, Ventilation, and Air Conditioning (HVAC) Market

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