Commercial HVAC Market Research Report Information by Equipment (Cooling Equipment, Heating Equipment, Ventilation Equipment) by sales channel (OEM, Aftermaths), by components ( sensors, compressors, control systems, expansion valves, evaporator coils, ventilation fan and blower units, filters, dampers, tubing/piping systems, and others), by Application (office, school & colleges, restaurants, hotels, shops, apartment, hospitals & clinics, sport centers, data center/ server hub, warehouses, factories),–Industry Forecast Till 2030
Over the course of the forecast period, a compound annual growth rate (CAGR) of 7.4% is projected for the Commercial HVAC Market market. Governments across the globe are anticipated to have an impact on the commercial HVAC (Heating, Ventilation, and Air Conditioning) industry. The significance of energy efficiency and environmental sustainability in commercial buildings is gradually being recognized by governments.
Globally, the commercial HVAC sector has grown significantly in the last several years. One of the main focuses of technology development is the creation of intelligent HVAC systems. Real-time temperature, humidity, and air quality adjustments are possible with these systems, which boost productivity and reduce expenses. Furthermore, these intelligent HAVCs can be controlled remotely via smartphones or other digital devices, providing a great deal of convenience and flexibility. The market is also being driven by the rising demand for HVAC (heating, ventilation, and air conditioning) systems with cutting-edge technology. Thermally driven air conditioners are becoming more and more common as consumers' demand for items with green labels rises along with environmental consciousness. Additionally, Daikin Industries Ltd. is working on research and development projects to launch cutting-edge HVAC systems that improve energy efficiency by utilizing natural gas and solar energy. Furthermore, IoT and the HVAC sector work together to enable remote machine management, which improves customer-driven service programs. By adding motion sensors to these smart devices, HVAC staff can keep an eye on who is moving around a building.
Insights on Market SegmentsThe Commercial HVAC market is made up of equipment for heating, cooling, and ventilation.
The market is divided into components, and the components that make up the market are sensors, compressors, control systems, expansion valves, evaporator coils, ventilation fans and blower units, filters, dampers, tubing/piping systems, and others.
Based on sales channels, the Commercial HVAC Market has been segmented into OEM and Aftermarket segments.
Based on applications, the market has been divided into the following categories: offices, schools & colleges, restaurants, hotels, shops, apartments, sport centers, data centers/server hubs, warehouses, and factories.
Regional ViewsThe Asia-Pacific Commercial HVAC Market held the biggest market share in 2022 and is expected to increase at a significant compound annual growth rate (CAGR) throughout the research period. APAC's commercial HVAC industry is expanding and developing rapidly, and major nations like China, Japan, South Korea, India, and the rest of the region are actively fostering this change. Governments and corporations throughout APAC are realizing how important improved HVAC systems are to enhancing the indoor comfort, environmental sustainability, and energy efficiency of commercial buildings.
The commercial HVAC industry in North America, encompassing the US, Canada, and Mexico, is well-known for its strength. Due to the region's emphasis on sustainable construction standards and technical innovation, the usage of advanced commercial HVAC systems is growing significantly.
Major PlayersGovernment initiatives and corporate sector expenditures aimed at improving the energy efficiency and quality of indoor air in commercial buildings have resulted in a significant demand for these systems.
Some of the leading companies in the market are Panasonic, Mitsubishi Corporation, Samsung Electronics Co. Ltd., Daikin Industries Ltd., Haier Electronics Group Co. Ltd., Ingersoll Rand, Johnson Controls, AAON, Rheem Manufacturing Company, Lennox International Inc., Trane, GREE, Carrier, LG Electronics, and Midea Group.