Global HVAC Market Analysis & Trends - Industry Forecast to 2030

Global HVAC Market Analysis & Trends - Industry Forecast to 2030

HVAC: Market Size

From $4.88 billion in 2024, the global Data Center Liquid Cooling market is projected to reach $16.61 billion by 2030. Based on our analysis the market is expected to grow at a CAGR of 22.6% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing includes, rising requirements for high-density cooling products, growing block chain, emergence of AI, & other advanced technologies and the growing adoption of live streaming videos & OTT content.

Global HVAC Market: Market Dynamics

The heating ventilation and air conditioning market are growing tremendously and rapidly due to its benefits in controlling indoor temperature. People, owing to the growing population as well as organizations required ample additional facilities than before. Also as technology is developing and people are getting better at lifestyle and income it is very casual for people to find comfort. Similarly, due to global warming and temperature variations every year, indoor temperature control is essential. Henceforth in all this HVAC adds its value and benefits the people.

For instance, the government introduced the smart cities mission in 2015 to create energy-efficient infrastructure in metropolitan spaces and endorses green technologies in the construction industry. HVAC systems play an instrumental role in reducing the carbon footprint of reducing pollution levels, urban sprawls, and achieving far-reaching sustainability targets. Simultaneously, these aspects are possibly to fuel the heating, ventilation, and cooling system market progress shortly.

On the other hand, the higher installation cost of energy-efficient HVAC is likely to obstruct the profit boundaries. In addition, the rising insistence for energy-efficient solutions will further boost the HVAC market.

Impact of COVID-19 on HVAC

The outbreak of COVID-19 has had a significant impact on the HVAC Market. The outspread of the novel coronavirus in 2024 caused the closing down of production plants across the globe in the first quarter. Thereby, numerous major players recorded extensive revenue drop in the first part of 2020. Though, pent-up demand and growing consciousness about disinfected surroundings have resulted in higher product sales in recent times and are predictable to remain in the following years in the form of huge downfall in sales besides manufacturing activities. The drop in the customer expenditure on non-essential goods during the pandemic has resulted in additional deepening of market growth as HVAC businesses have seen a prominent decrease in business. But, some commercial HVAC businesses have seen a rise in service calls coming from “essential” buildings, such as grocery stores and healthcare facilities, for regular servicing, maintenance, and replacement of their HVAC systems.

By End User

Commercial Segment, Dominate the Market in 2024

The commercial segment made huge revenue in 2024 and growing its prominence during the forecast period. The demand for heating, ventilation, and air conditioning appliances and fixture generates largely in advanced economies as there are growing offices and commercial construction projects. Moreover, housing building projects with a need for heating, ventilation, and air conditioning appliances unit fixtures are estimated to grow in near future.

By Geography

Asia Pacific Region is Leading in the Global Market Place

Asia Pacific is likely to have a huge demand in the forecast period, owing to the account of a rising population, climatic situations, growing urbanization, and demographic changes in the province. The province possesses the major industry market share of heating, ventilation, and air conditioning appliances HVAC, and the demand is anticipated to upsurge, even more, making more opportunities for industry expansion over the coming years.

List of the Key Players Profiled in the Market Include:

• Carrier Global Corporation
• Daikin Industries, Ltd
• Emerson Electric Co.
• Fujitsu Limited
• Haier Group
• Honeywell International Inc.
• Johnson Controls, Inc
• Lennox International Inc.
• LG Electronics, Inc.
• Midea Group Co., Ltd.
• Samsung Electronics Co. Ltd.
• Trane
• Zamil Industrial

List of the Regions/Countries Profiled in the Market Include:

North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others