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Global Heating, Ventilation & Air Conditioning (HVAC) Market Report: Insights, Trends and Forecast (2019-2023)

Global Heating, Ventilation & Air Conditioning (HVAC) Market Report: Insights, Trends and Forecast (2019-2023)

The global heating, ventilation and air conditioning market is estimated to reach US$201.4 billion in 2023, growing at a CAGR of 6.72% for the period spanning 2018-2023. The growth of the market has been driven by rising global population, increasing construction activities, intensifying annual mean temperature, escalating e-commerce retail sales and upsurge in economic growth. However, growth of the market would be challenged by increase in raw material prices, data infrastructure security system and economic and political events. Some of the noteworthy trends of the market include growing smart thermostat market, advancements in technological innovations and adaption of sustainable building designs.

The global heating, ventilation and air conditioning market can be segmented into two broad segments: HVAC Equipment and Aftermarket & Services. Equipment segment is comprised of two key segments i.e., Commercial and Residential Equipment. In 2018, equipment segment was the dominant segment because of the driving factors such as increasing emergence of HVAC equipment manufacturers and favorable government regulations in the market.

The fastest growing regional market is the Americas owing to increasing trend of adopting sustainable HVAC systems by the American population and commencement of HVAC system manufacturing in various domestic consumer electrical companies. Asia Pacific represents one of the largest HVAC market and is already well-penetrated at developed market levels because of the growing construction activities in countries such as China and India and high imports of air conditioning and ventilation appliances by the Asia Pacific countries.

Scope of the Report:

  • The report provides a comprehensive analysis of the global heating, ventilation and air conditioning market, segmented into Equipment and Aftermarket and services segments.
  • The major regional markets (Asia Pacific and the Americas) have been analyzed, along with country coverage of the U.S.
  • The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
  • The competitive landscape of the market, along with the company profiles of leading players (Daikin Industries, Ltd., United Technologies Corporation (Carrier), Ingersoll-Rand Plc (Trane), Johnson Controls International Plc (York), Lennox International Inc. and Honeywell International Inc.) are also presented in detail.
Key Target Audience:
  • Heating, Ventilation and Air Conditioning Manufacturers
  • Component & Technology Suppliers
  • End Users (Residential, Commercial and Industrial Buildings)
  • Consulting Firms
  • Investment Banks
  • Government Bodies & Regulating Authorities.


1. Heating, Ventilation and Air Conditioning (HVAC) Overview
1.1 Introduction
Table 1: Types of HVAC Appliances
1.2 Types of HVAC Equipment
Table 2: Types of HVAC Equipment
1.3 Components of HVAC
Table 3: Components of HVAC
1.4 HVAC Value Chain
Table 4: HVAC Value Chain
2. Global Heating, Ventilation and Air Conditioning (HVAC) Market
2.1 HVAC Market Value Forecast
Table 5: Global HVAC Market Forecast by Value (2018-2023)
2.2 HVAC Market Energy Consumption by Appliances
Table 6: HVAC Market Energy Consumption by Appliances (2018)
2.3 HVAC Market Value by Type
Table 7: Global HVAC Market Value by Type (2018)
2.3.1 Global HVAC Equipment Market by Value
Table 8: Global HVAC Equipment Market by Value (2014-2018)
2.3.2 Global HVAC Equipment Market Forecast by Value
Table 9: Global HVAC Equipment Market Forecast by Value (2019-2023)
2.3.3 Global HVAC Equipment Market Value by Type
Table 10: Global HVAC Equipment Market Value by Type (2018)
2.3.4 Global Commercial HVAC Equipment Market by Value
Table 11: Global Commercial HVAC Equipment Market by Value (2014-2018)
2.3.5 Global Commercial HVAC Equipment Market Forecast by Value
Table 12: Global Commercial HVAC Equipment Market Forecast by Value (2019-2023)
2.3.6 Global Commercial HVAC Equipment Market Value by Type
Table 13: Global Commercial HVAC Equipment Market Value by Type (2018)
2.3.7 Global Commercial Ductless HVAC Equipment Market Forecast by Value
Table 14: Global Commercial Ductless HVAC Equipment Market Forecast by Value (2018-2023)
2.3.8 Global Commercial Applied HVAC Equipment Market Forecast by Value
Table 15: Global Commercial Applied HVAC Equipment Market Forecast by Value (2018-2023)
2.3.9 Global Residential HVAC Equipment Market by Value
Table 16: Global Residential HVAC Equipment Market by Value (2014-2018)
2.3.10 Global Residential HVAC Equipment Market Forecast by Value
Table 17: Global Residential HVAC Equipment Market Forecast by Value (2019-2023)
2.3.11 Global Residential HVAC Equipment Market Value by Type
Table 18: Global Residential HVAC Equipment Market Value by Type (2018)
2.3.12 Global Residential Ductless/Window HVAC Equipment Market Forecast by Value
Table 19: Global Residential Ductless/Window HVAC Equipment Market Forecast by Value (2018-2023)
2.3.13 Global Residential Ducted/Unitary HVAC Equipment Market Forecast by Value
Table 20: Global Residential Ducted/Unitary HVAC Equipment Market Forecast by Value (2018-2023)
2.3.14 Global Residential HVAC Equipment Market by Volume
Table 21: Global Residential HVAC Equipment Market by Volume (2014-2018)
2.3.15 Global Residential HVAC Equipment Market Forecast by Volume
Table 22: Global Residential HVAC Equipment Market Forecast by Volume (2019-2023)
2.3.16 Global HVAC Aftermarket & Services Market Forecast by Value
Table 23: Global HVAC Aftermarket & Services Market Forecast by Value (2018-2023)
2.3.17 Global HVAC Aftermarket & Services Market Value by Type
Table 24: Global HVAC Aftermarket & Services Market Value by Type (2018)
2.4 HVAC Market Value by Region
Table 25: Global HVAC Market Value by Region (2018)
3. Regional Heating, Ventilation and Air Conditioning (HVAC) Market
3.1 Asia Pacific
3.1.1 Asia Pacific HVAC Market Forecast by Value
Table 26: Asia Pacific HVAC Market Forecast by Value (2018-2023)
3.2 The Americas
3.2.1 The Americas HVAC Market Forecast by Value
Table 27: The Americas HVAC Market Forecast by Value (2018-2023)
3.2.2 North America HVAC Equipment Market Forecast by Value
Table 28: North America HVAC Equipment Market Forecast by Value (2018-2023)
3.2.3 North America HVAC Equipment Market Value by Type
Table 29: North America HVAC Equipment Market Value by Type (2018)
3.2.4 North America Residential HVAC Equipment Market Forecast by Value
Table 30: North America Residential HVAC Equipment Market Forecast by Value (2018-2023)
3.2.5 North America Commercial HVAC Equipment Market Forecast by Value
Table 31: North America Commercial HVAC Equipment Market Forecast by Value (2018-2023)
3.2.6 The U.S. HVAC Equipment Market Forecast by Value
Table 32: The U.S. HVAC Equipment Market Forecast by Value (2018-2023)
3.2.7 The U.S. HVAC Equipment Market Value by Type
Table 33: The U.S. HVAC Equipment Market Value by Type (2018)
3.2.8 The U.S. Commercial HVAC Equipment Market Forecast by Value
Table 34: The U.S. Commercial HVAC Equipment Market Forecast by Value (2018-2023)
3.2.9 The U.S. Commercial HVAC Equipment Market Value by Type
Table 35: The U.S. Commercial HVAC Equipment Market Value by Type (2018)
3.2.10 The U.S. Commercial Unitary HVAC Equipment Market Forecast by Value
Table 36: The U.S. Commercial Unitary HVAC Equipment Market Forecast by Value (2018-2023)
3.2.11 The U.S. Commercial Applied HVAC Equipment Market Forecast by Value
Table 37: The U.S. Commercial Applied HVAC Equipment Market Forecast by Value (2018-2023)
3.2.12 The U.S. Residential HVAC Equipment Market Forecast by Value
Table 38: The U.S. Residential HVAC Equipment Market Forecast by Value (2018-2023)
4. Market Dynamics
4.1 Growth Drivers
4.1.1 Growing Global Population
Table 39: Global Population (2014-2018)
4.1.2 Increasing Construction Activities
Table 40: Global Construction Expenditure (2014-2018)
4.1.3 Emerging Home Automation Market
Table 41: Global Home Automation Market (2017-2022)
4.1.4 Intensifying Annual Mean Temperature
Table 42: Global Annual Mean (Land-Ocean Temperature Index) (2014-2018)
4.1.5 Upsurge in Economic Growth
Table 43: Global GDP Per Capita (2014-2018)
4.1.6 Escalating E-Commerce Retail Sales
Table 44: Escalating E-Commerce Retail Sales (2014-2018)
4.2 Key Trends and Developments
4.2.1 Growing Smart Thermostat Market
Table 45: Global Smart Thermostat Market (2014-2018)
4.2.2 Surging Demand for Invertor Air Conditioner (AC) in China
Table 46: China Air Conditioner (AC) Market (2014-2018)
4.2.3 Growing HVAC Replacement Demand in the U.S.
Table 47: The U.S. HVAC Replacement Rate (2014-2018)
4.2.4 Advancements in Technological Innovations
4.2.5 Adoption of Sustainable Building Designs
4.3 Challenges
4.3.1 Raw Materials Prices
Table 48: Global Average Copper Prices (2014-2018)
Table 49: Global Average Iron Ore Prices (2014-2018)
4.3.2 Increasing Government Regulations
4.3.3 Data Infrastructure System Security
4.3.4 Retail Consolidations
4.3.5 Economic and Political Events
5. Competitive Landscape
5.1 Global HVAC Market
5.1.1 Revenue and Market Cap Comparison
Table 50: Key Players - Revenue & Market Cap Comparison (2018)
5.1.2 R&D Comparison of Key Players
Table 51: R&D Comparison of Key Players (2017-2018)
5.1.3 Global HVAC Equipment Market Share by Company
Table 52: Global HVAC Equipment Market Share by Company (2018)
5.1.4 Global Residential Unitary HVAC Equipment Market Share by Company
Table 53: Global Residential Unitary HVAC Equipment Market Share by Company (2018)
5.1.5 Global Commercial Unitary HVAC Equipment Market Share by Company
Table 54: Global Commercial Unitary HVAC Equipment Market Share by Company (2018)
5.1.6 Global Commercial Applied HVAC Equipment Market Share by Company
Table 55: Global Commercial Applied HVAC Equipment Market Share by Company (2018)
5.1.7 Global HVAC Aftermarket & Services Market Share by Company
Table 56: Global HVAC Aftermarket & Services Market Share by Company (2018)
5.2 North America HVAC Market
5.2.1 North America HVAC Equipment Market Share by Company
Table 57: North America HVAC Equipment Market Share by Company (2018)
6. Company Profiles
6.1 Daikin Industries, Ltd.
6.1.1 Business Overview
6.1.2 Financial Overview
Table 58: Daikin Industries, Ltd. Net Sales and Net Income (2014-2018)
Table 59: Daikin Industries, Ltd. Net Sales by Segments (2018)
Table 60: Daikin Industries, Ltd. Net Sales by Region (2018)
6.1.3 Business Strategies
6.2 United Technologies Corporation (Carrier)
6.2.1 Business Overview
6.2.2 Financial Overview
Table 61: United Technologies Corporation (Carrier) Net Sales and Net Income (2014-2018)
Table 62: United Technologies Corporation (Carrier) Net Sales by Segments (2018)
Table 63: United Technologies Corporation (Carrier) Net Sales by Region (2018)
6.2.3 Business Strategies
6.3 Ingersoll-Rand Plc (Trane)
6.3.1 Business Overview
6.3.2 Financial Overview
Table 64: Ingersoll-Rand Plc (Trane) Net Revenues and Net Earnings (2014-2018)
Table 65: Ingersoll-Rand Plc (Trane) Net Revenue by Segments (2018)
Table 66: Ingersoll-Rand Plc (Trane) Net Revenue by Region (2018)
6.3.3 Business Strategies
6.4 Johnson Controls International Plc (York)
6.4.1 Business Overview
6.4.2 Financial Overview
Table 67: Johnson Controls International Net Sales and Net Income (2014-2018)
Table 68: Johnson Controls International Plc Net Sales by Segments (2018)
Table 69: Johnson Controls International Net Sales by Region (2018)
6.4.3 Business Strategies
6.5 Lennox International Inc.
6.5.1 Business Overview
6.5.2 Financial Overview
Table 70: Lennox International Inc. Revenue and Net Income (2014-2018)
Table 71: Lennox International Inc. Revenue by Segments (2018)
Table 72: Lennox International Inc. Revenue by Region (2018)
6.5.3 Business Strategies
6.6 Honeywell International Inc.
6.6.1 Business Overview
6.6.2 Financial Overview
Table 73: Honeywell International Inc. Net Sales and Net Income (2014-2018)
Table 74: Honeywell International Inc. Net Sales by Segments (2018)
Table 75: Honeywell International Inc. Net Sales by Region (2018)
6.6.3 Business Strategies

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