Research Expert: Sarah Overall
  • Published: Feb 2025
  • Pages: 150
  • SKU: IRTNTR46669

  • Latest News- HVAC Market: HVAC equipment is expected to lead the Type segment during 2025-2029

    The HVAC Market is being driven by Growing construction sector

    The HVAC Market is expected to grow at a CAGR of 7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 90.5 billion. Business Automation Systems (BAS), a critical component of modern building infrastructure, have witnessed significant growth in the HVAC market. These advanced systems, which control and monitor HVAC and other facilities, are equipped with computing and digital communication tools. The proliferation of construction projects and building retrofits has driven the installation of integrated BAS, leading to enhanced energy efficiency. The evolution of BAS technology is attributed to advancements in sensor technology, the availability of affordable and swift communication systems, and user-friendly interfaces. Manufacturers are embracing open protocols, such as the Internet protocol, to deliver superior control solutions. BAS is increasingly becoming the standard technology for optimizing the interaction and operability among HVAC, lighting, fire, and security control units within a building. 

    Get more information on HVAC Market by requesting a sample report

    Which Factors Are Causing a Surge in Market Growth?

    The market is segmented based on

    • Type
      • HVAC equipment
      • HVAC services
    • End-user
      • Non-residential
      • Residential
    • Heating Equipment
      • Heat pumps
      • Furnaces
      • Unitary heaters
      • Boilers
    • Ventilation Equipment
      • Air handling units
      • Air filters
      • Dehumidifiers
      • Ventilation fans
      • Humidifiers
      • Air purifiers
    • Cooling Equipment
      • Unitary air conditioners
      • VRF systems
      • Chillers
      • Room air conditioners
      • Coolers
      • Cooling towers
    • Geography
      • APAC
        • China
        • India
        • Japan
        • South Korea
      • Europe
        • Germany
        • UK
        • France
        • Italy
        • Spain
      • North America
        • US
      • Middle East and Africa
        • South America

        According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

        • Growing construction sector
        • Rising preference for condensing boilers
        • Increasing refurbishment and replacement demand

        However, the market also witnesses some limitations, which are as follows:

        • Failure issues with HVAC equipment
        • Lack of skilled labor
        • High initial cost of HVAC systems

        Benefits of Buying Global HVAC Market Research Report by Technavio

        Rich Experience: 20+ years leading global market research, trusted insights across industries.

        Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

        Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

        Market Scope in HVAC Market Research Report

        Market Scope

        Report Coverage

        Details

        Page number

        209

        Base year

        2024

        Historic period

        2019-2023

        Forecast period

        2025-2029

        Growth momentum & CAGR

        Accelerate at a CAGR of 7%

        Market growth 2025-2029

        USD 90.5 billion

        Market structure

        market_structure.ucfirst

        YoY growth 2024-2025(%)

        6.4

        Key countries

        China, US, Japan, Germany, UK, France, India, Spain, South Korea, and Italy

        Competitive landscape

        Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

        Request Free Sample

        Find out which segment is leading the market by accessing the free PDF report

        Research Analysis Overview

        The HVAC system industry encompasses heating, ventilation, and air conditioning solutions for various building types, including residential, commercial, and industrial. Climate control technologies are crucial in mitigating the effects of climatic changes, with a focus on energy consumption reduction in the construction sector. Affordable housing units and energy-saving products are essential, leading to increased regulations like SEER2 and the adoption of energy-efficient A2L and R-410 refrigerants. Smart building solutions, such as AC, condensing boilers, ductless HVAC systems, sustainable, and smart HVAC systems, furnace systems, and boiler systems, are transforming net-zero buildings through advanced technologies.

        Market Research Overview

        The HVAC market, a significant segment of the global building products industry, encompasses companies specializing in heating, ventilation, and air conditioning systems for residential, commercial, and industrial buildings. Technavio projects the market's growth, based on manufacturers' combined revenue, to be driven by the expansion of the construction sector. Urbanization and infrastructure development in emerging economies necessitate the creation of residential and healthcare facilities, fueling the demand for advanced climate control technologies and HVAC systems.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.


        Contacts

        Technavio Research
        Jesse Maida
        Media & Marketing Executive
        US: +1 844 364 1100
        UK: +44 203 893 3200
        Email: media@technavio.com
        Website: www.technavio.com/

        Read News Read Less
        Interested in this report?
        Get your sample now!

      Safe and Secure SSL Encrypted

      Technavio

      • 2500 USD

      [5 reports/month/user]

      • 5000 USD

      close
      • Basic Plan [5000 USD/Year]:

        Single User
        Download 5 Reports/Month
        View 100 Reports/Month
        Add upto 3 Users at 625 USD/user

      • Teams Plan [7500 USD/Year]:

        5 User
        Download 5 Reports/Month/User
        View 100 Reports/Month/User
        Add upto 30 Users at 500 USD/user

      *You can upgrade to Teams plan at Subscription page

      close
      • Single:

        One user only.
        Quick & easy download option

      • Enterprise:

        Unlimited user access (Within your organization).
        Complimentary Customization Included

      *For Enterprise license, go to checkout page

      Technavio Get the report (PDF) sent to your email within minutes.