HVAC Equipment Market Size to Hit USD 268.22 Billion by 2034

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology (Premium Insights)

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on HVAC Equipment Market

5.1. COVID-19 Landscape: HVAC Equipment Industry Impact

5.2. COVID 19 - Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global HVAC Equipment Market, By Product Type

8.1. HVAC Equipment Market Revenue and Volume, by Product Type

8.1.1. Heating Equipment

8.1.1.1. Market Revenue and Volume Forecast

8.1.2. Ventilation Equipment

8.1.2.1. Market Revenue and Volume Forecast

8.1.3. Cooling Equipment

8.1.3.1. Market Revenue and Volume Forecast

Chapter 9. Global HVAC Equipment Market, By System Type

9.1. HVAC Equipment Market Revenue and Volume, by System Type

9.1.1. Centralized HVAC Systems

9.1.1.1. Market Revenue and Volume Forecast

9.1.2. Decentralized HVAC Systems

9.1.2.1. Market Revenue and Volume Forecast

9.1.3. Hybrid Systems

9.1.3.1. Market Revenue and Volume Forecast

Chapter 10. Global HVAC Equipment Market, By Service Type

10.1. HVAC Equipment Market Revenue and Volume, by Service Type

10.1.1. Installation

10.1.1.1. Market Revenue and Volume Forecast

10.1.2. Maintenance & Repair

10.1.2.1. Market Revenue and Volume Forecast

10.1.3. Upgrades & Replacements

10.1.3.1. Market Revenue and Volume Forecast

10.1.4. Consulting & Engineering Services

10.1.4.1. Market Revenue and Volume Forecast

Chapter 11. Global HVAC Equipment Market, By Application

11.1. HVAC Equipment Market Revenue and Volume, by Application

11.1.1. Residential

11.1.1.1. Market Revenue and Volume Forecast

11.1.2. Commercial

11.1.2.1. Market Revenue and Volume Forecast

11.1.3. Industrial

11.1.3.1. Market Revenue and Volume Forecast

Chapter 12. Global HVAC Equipment Market, By Distribution Channel

12.1. HVAC Equipment Market Revenue and Volume, by Distribution Channel

12.1.1. Direct Sales (OEMs & Manufacturers)

12.1.1.1. Market Revenue and Volume Forecast

12.1.2. Wholesalers & Distributors

12.1.2.1. Market Revenue and Volume Forecast

12.1.3. Retail Sales

12.1.3.1. Market Revenue and Volume Forecast

12.1.4. HVAC Contractors & System Integrators

12.1.4.1. Market Revenue and Volume Forecast

Chapter 13. Global HVAC Equipment Market, Regional Estimates and Trend Forecast

13.1. North America

13.1.1. Market Revenue and Volume Forecast, by Product Type

13.1.2. Market Revenue and Volume Forecast, by System Type

13.1.3. Market Revenue and Volume Forecast, by Service Type

13.1.4. Market Revenue and Volume Forecast, by Application

13.1.5. Market Revenue and Volume Forecast, by Distribution Channel

13.1.6. U.S.

13.1.6.1. Market Revenue and Volume Forecast, by Product Type

13.1.6.2. Market Revenue and Volume Forecast, by System Type

13.1.6.3. Market Revenue and Volume Forecast, by Service Type

13.1.6.4. Market Revenue and Volume Forecast, by Application

13.1.6.5. Market Revenue and Volume Forecast, by Distribution Channel

13.1.7. Rest of North America

13.1.7.1. Market Revenue and Volume Forecast, by Product Type

13.1.7.2. Market Revenue and Volume Forecast, by System Type

13.1.7.3. Market Revenue and Volume Forecast, by Service Type

13.1.7.4. Market Revenue and Volume Forecast, by Application

13.1.7.5. Market Revenue and Volume Forecast, by Distribution Channel

13.2. Europe

13.2.1. Market Revenue and Volume Forecast, by Product Type

13.2.2. Market Revenue and Volume Forecast, by System Type

13.2.3. Market Revenue and Volume Forecast, by Service Type

13.2.4. Market Revenue and Volume Forecast, by Application

13.2.5. Market Revenue and Volume Forecast, by Distribution Channel

13.2.6. UK

13.2.6.1. Market Revenue and Volume Forecast, by Product Type

13.2.6.2. Market Revenue and Volume Forecast, by System Type

13.2.6.3. Market Revenue and Volume Forecast, by Service Type

13.2.7. Market Revenue and Volume Forecast, by Application

13.2.8. Market Revenue and Volume Forecast, by Distribution Channel

13.2.9. Germany

13.2.9.1. Market Revenue and Volume Forecast, by Product Type

13.2.9.2. Market Revenue and Volume Forecast, by System Type

13.2.9.3. Market Revenue and Volume Forecast, by Service Type

13.2.10. Market Revenue and Volume Forecast, by Application

13.2.11. Market Revenue and Volume Forecast, by Distribution Channel

13.2.12. France

13.2.12.1. Market Revenue and Volume Forecast, by Product Type

13.2.12.2. Market Revenue and Volume Forecast, by System Type

13.2.12.3. Market Revenue and Volume Forecast, by Service Type

13.2.12.4. Market Revenue and Volume Forecast, by Application

13.2.13. Market Revenue and Volume Forecast, by Distribution Channel

13.2.14. Rest of Europe

13.2.14.1. Market Revenue and Volume Forecast, by Product Type

13.2.14.2. Market Revenue and Volume Forecast, by System Type

13.2.14.3. Market Revenue and Volume Forecast, by Service Type

13.2.14.4. Market Revenue and Volume Forecast, by Application

13.2.15. Market Revenue and Volume Forecast, by Distribution Channel

13.3. APAC

13.3.1. Market Revenue and Volume Forecast, by Product Type

13.3.2. Market Revenue and Volume Forecast, by System Type

13.3.3. Market Revenue and Volume Forecast, by Service Type

13.3.4. Market Revenue and Volume Forecast, by Application

13.3.5. Market Revenue and Volume Forecast, by Distribution Channel

13.3.6. India

13.3.6.1. Market Revenue and Volume Forecast, by Product Type

13.3.6.2. Market Revenue and Volume Forecast, by System Type

13.3.6.3. Market Revenue and Volume Forecast, by Service Type

13.3.6.4. Market Revenue and Volume Forecast, by Application

13.3.7. Market Revenue and Volume Forecast, by Distribution Channel

13.3.8. China

13.3.8.1. Market Revenue and Volume Forecast, by Product Type

13.3.8.2. Market Revenue and Volume Forecast, by System Type

13.3.8.3. Market Revenue and Volume Forecast, by Service Type

13.3.8.4. Market Revenue and Volume Forecast, by Application

13.3.9. Market Revenue and Volume Forecast, by Distribution Channel

13.3.10. Japan

13.3.10.1. Market Revenue and Volume Forecast, by Product Type

13.3.10.2. Market Revenue and Volume Forecast, by System Type

13.3.10.3. Market Revenue and Volume Forecast, by Service Type

13.3.10.4. Market Revenue and Volume Forecast, by Application

13.3.10.5. Market Revenue and Volume Forecast, by Distribution Channel

13.3.11. Rest of APAC

13.3.11.1. Market Revenue and Volume Forecast, by Product Type

13.3.11.2. Market Revenue and Volume Forecast, by System Type

13.3.11.3. Market Revenue and Volume Forecast, by Service Type

13.3.11.4. Market Revenue and Volume Forecast, by Application

13.3.11.5. Market Revenue and Volume Forecast, by Distribution Channel

13.4. MEA

13.4.1. Market Revenue and Volume Forecast, by Product Type

13.4.2. Market Revenue and Volume Forecast, by System Type

13.4.3. Market Revenue and Volume Forecast, by Service Type

13.4.4. Market Revenue and Volume Forecast, by Application

13.4.5. Market Revenue and Volume Forecast, by Distribution Channel

13.4.6. GCC

13.4.6.1. Market Revenue and Volume Forecast, by Product Type

13.4.6.2. Market Revenue and Volume Forecast, by System Type

13.4.6.3. Market Revenue and Volume Forecast, by Service Type

13.4.6.4. Market Revenue and Volume Forecast, by Application

13.4.7. Market Revenue and Volume Forecast, by Distribution Channel

13.4.8. North Africa

13.4.8.1. Market Revenue and Volume Forecast, by Product Type

13.4.8.2. Market Revenue and Volume Forecast, by System Type

13.4.8.3. Market Revenue and Volume Forecast, by Service Type

13.4.8.4. Market Revenue and Volume Forecast, by Application

13.4.9. Market Revenue and Volume Forecast, by Distribution Channel

13.4.10. South Africa

13.4.10.1. Market Revenue and Volume Forecast, by Product Type

13.4.10.2. Market Revenue and Volume Forecast, by System Type

13.4.10.3. Market Revenue and Volume Forecast, by Service Type

13.4.10.4. Market Revenue and Volume Forecast, by Application

13.4.10.5. Market Revenue and Volume Forecast, by Distribution Channel

13.4.11. Rest of MEA

13.4.11.1. Market Revenue and Volume Forecast, by Product Type

13.4.11.2. Market Revenue and Volume Forecast, by System Type

13.4.11.3. Market Revenue and Volume Forecast, by Service Type

13.4.11.4. Market Revenue and Volume Forecast, by Application

13.4.11.5. Market Revenue and Volume Forecast, by Distribution Channel

13.5. Latin America

13.5.1. Market Revenue and Volume Forecast, by Product Type

13.5.2. Market Revenue and Volume Forecast, by System Type

13.5.3. Market Revenue and Volume Forecast, by Service Type

13.5.4. Market Revenue and Volume Forecast, by Application

13.5.5. Market Revenue and Volume Forecast, by Distribution Channel

13.5.6. Brazil

13.5.6.1. Market Revenue and Volume Forecast, by Product Type

13.5.6.2. Market Revenue and Volume Forecast, by System Type

13.5.6.3. Market Revenue and Volume Forecast, by Service Type

13.5.6.4. Market Revenue and Volume Forecast, by Application

13.5.7. Market Revenue and Volume Forecast, by Distribution Channel

13.5.8. Rest of LATAM

13.5.8.1. Market Revenue and Volume Forecast, by Product Type

13.5.8.2. Market Revenue and Volume Forecast, by System Type

13.5.8.3. Market Revenue and Volume Forecast, by Service Type

13.5.8.4. Market Revenue and Volume Forecast, by Application

13.5.8.5. Market Revenue and Volume Forecast, by Distribution Channel

Chapter 14. Company Profiles

14.1. Carrier Corporation

14.1.1. Company Overview

14.1.2. Product Offerings

14.1.3. Financial Performance

14.1.4. Recent Initiatives

14.2. Daikin Industries Ltd.

14.2.1. Company Overview

14.2.2. Product Offerings

14.2.3. Financial Performance

14.2.4. Recent Initiatives

14.3. Johnson Controls

14.3.1. Company Overview

14.3.2. Product Offerings

14.3.3. Financial Performance

14.3.4. Recent Initiatives

14.4. Trane Technologies

14.4.1. Company Overview

14.4.2. Product Offerings

14.4.3. Financial Performance

14.4.4. Recent Initiatives

14.5. LG Electronics

14.5.1. Company Overview

14.5.2. Product Offerings

14.5.3. Financial Performance

14.5.4. Recent Initiatives

14.6. Hitachi Ltd.

14.6.1. Company Overview

14.6.2. Product Offerings

14.6.3. Financial Performance

14.6.4. Recent Initiatives

14.7. United Technologies,

14.7.1. Company Overview

14.7.2. Product Offerings

14.7.3. Financial Performance

14.7.4. Recent Initiatives

14.8. Electrolux, Emerson Electric Co.

14.8.1. Company Overview

14.8.2. Product Offerings

14.8.3. Financial Performance

14.8.4. Recent Initiatives

14.9. Honeywell International Inc

14.9.1. Company Overview

14.9.2. Product Offerings

14.9.3. Financial Performance

14.9.4. Recent Initiatives

14.10. Lennox International Inc.

14.10.1. Company Overview

14.10.2. Product Offerings

14.10.3. Financial Performance

14.10.4. Recent Initiatives

Chapter 15. Research Methodology

15.1. Primary Research

15.2. Secondary Research

15.3. Assumptions

Chapter 16. Appendix

16.1. About Us

16.2. Glossary of Terms

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Frequently Asked Questions

The global HVAC equipment market size was reached at USD 150.56 billion in 2024 and is projected to hit USD 268.22 billion by 2034.

The global HVAC equipment market is growing at a CAGR 5.94% from 2025 to 2034.

The HVAC equipment industry is driven by constantly changing climate conditions and rising consumer disposable income.

The major market player are Carrier Corporation, Daikin Industries Ltd., Ingersoll Rand, Johnson Controls, Trane Technologies, LG Electronics, Hitachi Ltd., United Technologies, Electrolux, Emerson Electric Co., Honeywell International Inc, Lennox International Inc. and, Mitsubishi Electric.

Asia Pacific is expected to contribute the largest revenue share of more than 45.14% in 2024 owing to rising population, rapid urbanization and increasing disposable income levels.