Global Residential HVAC Market 2024-2028
The residential HVAC market is forecasted to grow by USD 42.39 bn during 2023-2028, accelerating at a CAGR of 8.56% during the forecast period. The report on the residential 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 a rise in demand for HVAC in the construction industry, a rising preference for condensing boilers, and increasing refurbishment and replacement demand in HVAC components.
Technavio's residential HVAC market is segmented as below:
By Type
- HVAC equipment
- HVAC services
By Product
- Air conditioning system
- Heating system
- Ventilating system
By Geographical Landscape
- APAC
- Europe
- North America
- Middle East and Africa
- South America
This study identifies the power evaluation software used in HVAC systems as one of the prime reasons driving the residential 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 residential HVAC market covers the following areas:
- Residential HVAC market sizing
- Residential HVAC market forecast
- Residential 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 residential HVAC market vendors including Carrier Global Corp., Daikin Industries Ltd., Danfoss AS, Electrolux AB, Fujitsu Ltd., Gree Electric Appliances Inc. of Zhuhai, Haier Smart Home Co. Ltd., Honeywell International Inc., Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., MIDEA Group Co. Ltd., Paloma Co. Ltd., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Systemair AB, Toshiba Corp., Trane Technologies Plc, Whirlpool Corp., and National HVAC Service. Also, the residential 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 through study, synthesis, and summation of data from multiple sources by analyzing 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 accurate market growth.