Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 130.1 Billion | USD 221.61 Billion | 6.12% | 2022 |
FrequentlyAsked Questions
The industry deals with the sales of heating, ventilation, and air conditioning (HVAC) products for residential, commercial, or industrial settings.
The global HVAC equipment market is projected to grow owing to the increasing demand for energy-efficient solutions and systems.
According to study, the global HVAC equipment market size was worth around USD 130.1 billion in 2022 and is predicted to grow to around USD 221.61 billion by 2030.
The CAGR value of the HVAC equipment market is expected to be around 6.12% during 2023-2030.
The global HVAC equipment market is projected to witness the highest growth in Asia-Pacific as it already contributed to more than 44% of the global market share in 2022.
The global HVAC equipment market is home to players, such as Johnson Controls International plc, Daikin Industries, Mitsubishi Electric Corporation, Carrier Global Corporation, Trane Technologies, Lennox International Inc., Samsung Electronics, LG Electronics, Fujitsu General Ltd., Panasonic Corporation, Hitachi, Ltd., Rheem Manufacturing Company, Bosch Thermotechnik GmbH, Gree Electric Appliances Inc. of Zhuhai, Ingersoll Rand Inc., Nortek Global HVAC LLC., Midea Group Co., Ltd., Honeywell International Inc., Zamil Air Conditioners, and United Technologies Corporation amongst many others.
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