Global HVAC Market 2024-2028

Global HVAC Market 2024-2028

The HVAC market is forecasted to grow by USD 74.02 bn during 2023-2028, accelerating at a CAGR of 6.5% during the forecast period. The report on the HVAC market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the growing construction sector, rising preference for condensing boilers, and increasing refurbishment and replacement demand.

Technavio's HVAC market is segmented as below:

By Type

HVAC equipment
HVAC services

By End-user

Non-residential
Residential

By Geography

APAC
Europe
North America
Middle East and Africa
South America

This study identifies the rise in the incorporation of building automation systems as one of the prime reasons driving the HVAC market growth during the next few years. Also, the increasing use of renewable energy sources for residential heating and the growing adoption of smartphones for controlling HVAC devices will lead to sizable demand in the market.

The report on the HVAC market covers the following areas:

HVAC market sizing
HVAC market forecast
HVAC market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading HVAC market vendors that include ABM Industries Inc., Air Comfort, Alexander Mechanical Inc., Blue Star Ltd., Carrier Global Corp., Daikin Industries Ltd., EMCOR Group Inc., Emerson Electric Co., ENGIE SA, Ferguson plc, Fujitsu Ltd., Ingersoll Rand Inc., J and J Air Conditioning, Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., Nortek, Samsung Electronics Co. Ltd., Service Logic, and Siemens AG. Also, the HVAC market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.