HVAC System Market by Cooling (Unitary AC, VRF, Chiller, Cooling Tower, Cooler), Heating (Heat Pump, Boiler, Unitary Heater, Furnace), Ventilation (AHU, Air Filter, Humidifier, Purifier), Technology (Smart, Sustainable), Service - Global Forecast to 2030

The HVAC system market is projected to grow from USD 299.28 billion in 2025 to USD 407.77 billion by 2030, growing at a CAGR of 6.4% from 2025 to 2030. The HVAC industry has experienced significant advancements in recent years, leading to a surge in demand for innovative HVAC systems. Several factors have driven these advancements, including the growing need for energy efficiency, improved indoor air quality, and the desire for smarter, more connected systems. Smart HVAC systems use sensors and advanced algorithms to monitor indoor and outdoor conditions, adjust system settings in real time, and provide users with detailed analytics on energy usage and system performance.

“The new construction buildings segment accounts for the largest market share during the forecast period.”

Government involvement is pivotal in the HVAC market, as it encourages the adoption of HVAC systems to support urbanization while enforcing regulatory compliance. The growing emphasis on energy efficiency and environmentally friendly building practices, such as deployment of high-efficiency HVAC equipment, adoption of VRF systems, integration of smart thermostats and building automation controls, use of advanced air filtration, and incorporation of renewable energy-powered heating and cooling, has resulted in stricter standards, including ASHRAE Standard 90.1, which defines energy efficiency requirements for US buildings.

“The air handling unit segment is projected to register the highest CAGR during the forecast period.”

The air handling unit (AHU) segment is projected to record the highest CAGR in the overall HVAC system market due to rising demand for improved indoor air quality, energy-efficient ventilation, and compliance with stricter air quality standards. Increasing construction of commercial spaces and healthcare facilities further drives the adoption of AHUs for effective air distribution and filtration.

“China is estimated to account for the largest share of the Asia Pacific HVAC system market in 2025.”

China is the largest market for HVAC system in Asia Pacific. The market in the country is driven by rapid urbanization, massive infrastructure and residential construction projects, and a growing middle-class population demanding modern comfort solutions. Supportive government policies promoting energy-efficient technologies, along with rising temperatures and increased adoption of air conditioning systems, are further fueling the robust growth of China’s HVAC market.

• By Company Type: Tier 1–35%, Tier 2–30%, and Tier 3–35%
• By Designation: C-level Executives–35%, D-level Executives–40%, and Others–25%
• By Region: North America–25%, Europe–35%, Asia Pacific–30%, and RoW–10%

Prominent players profiled in this report include Carrier (US), DAIKIN INDUSTRIES, Ltd. (Japan), LG Electronics (South Korea), Lennox International Inc. (US), Midea (China), Johnson Controls (Ireland), Trane Technologies plc (Ireland), Honeywell International Inc. (US), Mitsubishi Electric Corporation (Japan), SAMSUNG (South Korea), GREE ELECTRIC APPLIANCES, INC. OF ZHUHAI (China), Fujitsu General (Japan), Panasonic Holdings Corporation (Japan), Robert Bosch Group (Germany), and Modine (US).

Research Coverage:

The report defines, describes, and forecasts the HVAC system market based on cooling equipment (unitary air conditioners, VRF systems, chillers, room air conditioners, coolers, and cooling towers), heating equipment (heat pumps, furnaces, boilers, and unitary heaters), ventilation equipment (air-handling units, air filters, dehumidifiers, ventilation fans, humidifiers, air purifiers), technology (traditional HVAC systems, smart HVAC systems, and sustainable/green HVAC systems), implementation type (new construction buildings, retrofit buildings), service type (installation services, maintenance & repair services, upgradation/replacement services, and consulting services), end user (commercial, residential, and industrial), and region (North America, Europe, Asia Pacific, and RoW). It provides detailed information regarding drivers, restraints, opportunities, and challenges influencing the market’s growth. It also analyzes competitive developments such as acquisitions, product launches, expansions, and actions carried out by the key players to grow in the market.

Reasons to Buy This Report

The report will help the market leaders/new entrants with information on the closest approximations of the revenue for the overall HVAC system market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insight to position their business better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market’s pulse and provides information on key drivers, restraints, opportunities, and challenges.

The report will provide insights into the following points:

• Analysis of key drivers (Increasing demand for energy-efficient HVAC systems), restraints (Rising expenses for installing, servicing, and maintaining HVAC systems), opportunities (Swift evolution of IoT within HVAC industry), and challenges (Lack of awareness about benefits of HVAC systems in developing countries) of the HVAC system market
• Product development /innovation: Detailed insights into upcoming technologies, research & development activities, and new product launches in the HVAC system market
• Market development: Comprehensive information about lucrative markets; the report analyses the HVAC system market across various regions
• Market diversification: Exhaustive information about new products launched, untapped geographies, recent developments, and investments in the HVAC system market
• Competitive Assessment: In-depth assessment of market share, growth strategies, and offering of leading players, including Carrier (US), DAIKIN INDUSTRIES, Ltd. (Japan), LG Electronics (South Korea), Midea (China), and Trane Technologies plc (Ireland) in the HVAC system market.

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