Steam & Air-Conditioning Supply

Global Steam & Air-Conditioning Supply Market to Reach US$182.5 Billion by 2030

The global market for Steam & Air-Conditioning Supply estimated at US$136.6 Billion in the year 2024, is expected to reach US$182.5 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2024-2030.

The U.S. Market is Estimated at US$38.1 Billion While China is Forecast to Grow at 7.7% CAGR

The Steam & Air-Conditioning Supply market in the U.S. is estimated at US$38.1 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$35.2 Billion by the year 2030 trailing a CAGR of 7.7% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.0% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.

Global Steam & Air-Conditioning Supply Market - Key Trends & Drivers Summarized

Why Is the Steam & Air-Conditioning Supply Industry Crucial for Modern Infrastructure?

The steam and air-conditioning supply industry is essential for providing reliable heating, cooling, and ventilation solutions to commercial, industrial, and residential buildings. As global temperatures rise and energy efficiency becomes a top priority, there is increasing demand for efficient HVAC (Heating, Ventilation, and Air Conditioning) systems. These systems are critical for ensuring comfortable indoor environments and maintaining the operational integrity of industrial facilities that rely on precise temperature control. The growth of urbanization and industrialization, particularly in emerging economies, is driving demand for centralized steam and air-conditioning supply services, which offer cost-effective and energy-efficient solutions compared to individual units. Moreover, the rise of smart cities and the adoption of energy-efficient building codes are further promoting the use of advanced HVAC systems.

How Are Technological Innovations Transforming the Steam & Air-Conditioning Supply Market?

The steam and air-conditioning supply market is being transformed by technological advancements that improve energy efficiency, reduce emissions, and enhance system reliability. Innovations such as smart thermostats, IoT-enabled HVAC systems, and automated energy management solutions are optimizing energy usage, allowing for real-time monitoring and adjustments to meet fluctuating demand. Heat recovery technologies are also gaining traction, allowing buildings and industrial facilities to capture and reuse excess heat, thereby reducing overall energy consumption. Additionally, advancements in materials and design are leading to the development of more efficient and environmentally friendly refrigerants, which minimize the environmental impact of air-conditioning systems. The integration of renewable energy sources, such as solar and geothermal, into HVAC systems is another key trend, helping to reduce dependency on fossil fuels and lowering greenhouse gas emissions.

What Are the Key Trends in Steam & Air-Conditioning Supply?

One of the key trends in the steam and air-conditioning supply industry is the growing emphasis on energy efficiency and sustainability. Governments and regulatory bodies around the world are implementing stricter energy efficiency standards for buildings, which is driving demand for high-efficiency HVAC systems. The adoption of green building certifications, such as LEED (Leadership in Energy and Environmental Design), is also encouraging the use of sustainable HVAC technologies. Another trend is the increasing demand for district energy systems, where centralized steam and air-conditioning plants serve multiple buildings, improving efficiency and reducing operational costs. The integration of smart building technologies, which enable automated control of HVAC systems based on real-time data, is further enhancing energy savings and operational efficiency in both commercial and residential settings.

The Growth in the Steam & Air-Conditioning Supply Market Is Driven by Several Factors

The growth in the steam and air-conditioning supply market is driven by several factors, including rising urbanization, the demand for energy-efficient HVAC systems, and advancements in smart technologies. First, the rapid pace of urbanization and industrialization is creating a surge in demand for centralized heating and cooling systems, especially in densely populated cities and large commercial complexes. Second, the growing emphasis on reducing energy consumption and complying with environmental regulations is pushing the adoption of more energy-efficient HVAC solutions. Third, the development of smart building technologies and IoT-enabled HVAC systems is allowing for real-time monitoring and control of temperature and air quality, further driving efficiency gains. Finally, the increasing focus on sustainability and the use of renewable energy sources in HVAC systems are contributing to the market’s expansion as more businesses and governments prioritize green energy initiatives.

SCOPE OF STUDY:

The report analyzes the Steam & Air-Conditioning Supply market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Segment (Steam & Air-Conditioning Supply)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 13 Featured) -

• Daikin Applied
• Goodman Manufacturing Company, L.P.
• Johnson Controls International PLC
• Mitsubishi Electric Corporation
• Rheem Manufacturing Company
• Schneider Electric SE
• Toshiba Carrier Corporation
• Trane, Inc.
• York International Corporation
• Zamil Air Conditioners

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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