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Global Heating, Ventilation & Air Conditioning (HVAC) Market: Insights & Forecast with Potential Impact of COVID-19 (2021-2025)

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Date: 19-May-2021
No. of pages: 136
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The global HVAC market value is anticipated to reach US$202.92 billion in 2025, growing at a CAGR of 6.72% for the period spanning from 2021-2025.

Factors such as growing global population, increasing construction activities, emerging home automation market, intensifying annual mean temperature and escalating e-commerce retail sales are expected to drive the market growth. However, growth of the industry would be challenged by increasing raw materials prices, growing government regulations, data infrastructure system security, retail consolidations and economic & political events. A few notable trends include growing smart thermostat market, surging demand for invertor air conditioner (AC) in China, technological advancements and adoption of sustainable building designs

In 2020, the outbreak of COVID-19 pandemic has created an unfavorable impact on the market as the commercial HVAC products sales have declined rapidly.

The global heating, ventilation and air conditioning market can be segmented into two broad segments: Equipment and Aftermarket & Services. Equipment segment is further classified into Commercial and Residential products.

The fastest growing regional market is Asia-Pacific. The growth would be supported by growing construction activities, rising annual mean temperature and increasing infrastructure spending expenditures.

Scope of the report:


  • The report provides a comprehensive analysis of the global HVAC market, segmented into equipment and aftermarket & services.

  • The major regional markets (Asia-Pacific and Americas) have been analysed along with country coverage of US.

  • The market dynamics such as growth drivers, market trends and challenges are analysed in-depth.

  • The competitive landscape of the market, along with the company profiles of leading players i.e. Daikin Industries, Ltd., Raytheon Technologies Corporation, Trane Technologies Plc, Johnson Controls International Plc, Lennox International Inc. and Honeywell International Inc. are also presented in detail.


Key Target Audience:


  • HVAC Manufacturers

  • Raw Material Suppliers

  • End Users

  • Consulting Firms

  • Investment Banks

  • Government Bodies & Regulating Authorities

Global Heating, Ventilation & Air Conditioning (HVAC) Market: Insights & Forecast with Potential Impact of COVID-19 (2021-2025)

Table of Contents

1. Market Overview
1.1 Introduction
1.2 Types of HVAC Equipment
1.3 Components of HVAC
1.4 HVAC Value Chain

2. Impact of COVID-19
2.1 Introduction
2.2 Impact of Heating Industry
2.3 Impact on AC Industry

3. Global HVAC Market Analysis
3.1 Global HVAC Market Value
3.2 Global HVAC Market Value Forecast
3.3 Global HVAC Market Value by Appliances
3.4 Global HVAC Market Value by Types
3.4.1 Global HVAC Equipment Market Value
3.4.2 Global HVAC Equipment Market Value Forecast
3.4.3 Global HVAC Equipment Market Value by Types
3.4.4 Global Residential HVAC Equipment Market Value
3.4.5 Global Residential HVAC Equipment Market Value Forecast
3.4.6 Global Residential HVAC Equipment Market Value by Types
3.4.7 Global Residential Ductless/Window HVAC Equipment Market Value
3.4.8 Global Residential Ductless/Window HVAC Equipment Market Value Forecast
3.4.9 Global Residential Ducted/Unitary HVAC Equipment Market Value
3.4.10 Global Residential Ducted/Unitary HVAC Equipment Market Value Forecast
3.4.11 Global Commercial HVAC Equipment Market Value
3.4.12 Global Commercial HVAC Equipment Market Value Forecast
3.4.13 Global Commercial HVAC Equipment Market Value by Types
3.4.14 Global Commercial Ductless HVAC Equipment Market Value
3.4.15 Global Commercial Ductless HVAC Equipment Market Value Forecast
3.4.16 Global Commercial Applied HVAC Equipment Market Value
3.4.17 Global Commercial Applied HVAC Equipment Market Value Forecast
3.4.18 Global Residential HVAC Equipment Market Volume
3.4.19 Global Residential HVAC Equipment Market Volume Forecast
3.4.20 Global HVAC Aftermarket & Services Market Value
3.4.21 Global HVAC Aftermarket & Services Market Value Forecast
3.4.22 Global HVAC Aftermarket & Services Market Value by Types
3.5 Global HVAC Market Value by Region

4. Regional HVAC Market Analysis
4.1 Asia-Pacific
4.1.1 Asia-Pacific HVAC Market Value
4.1.2 Asia-Pacific HVAC Market Value Forecast
4.2 Americas
4.2.1 Americas HVAC Market Value
4.2.2 Americas HVAC Market Value Forecast
4.2.3 North America HVAC Equipment Market Value
4.2.4 North America HVAC Equipment Market Value Forecast
4.2.5 North America HVAC Equipment Market Value by Types
4.2.6 North America Residential HVAC Equipment Market Value
4.2.7 North America Residential HVAC Equipment Market Value Forecast
4.2.8 North America Commercial HVAC Equipment Market Value
4.2.9 North America Commercial HVAC Equipment Market Value Forecast
4.2.10 The U.S. HVAC Equipment Market Value
4.2.11 The U.S. HVAC Equipment Market Value Forecast
4.2.12 The U.S. HVAC Equipment Market Value by Types
4.2.13 The U.S. Commercial HVAC Equipment Market Value
4.2.14 The U.S. Commercial HVAC Equipment Market Value Forecast
4.2.15 The U.S. Commercial HVAC Equipment Market Value by Types
4.2.16 The U.S. Commercial Unitary HVAC Equipment Market Value
4.2.17 The U.S. Commercial Unitary HVAC Equipment Market Value Forecast
4.2.18 The U.S. Commercial Applied HVAC Equipment Market Value
4.2.19 The U.S. Commercial Applied HVAC Equipment Market Value Forecast
4.2.20 The U.S. Residential HVAC Equipment Market Value
4.2.21 The U.S. Residential HVAC Equipment Market Value Forecast

5. Market Dynamics
5.1 Growth Drivers
5.1.1 Growing Global Population
5.1.2 Increasing Construction Activities
5.1.3 Emerging Home Automation Market
5.1.4 Intensifying Annual Mean Temperature
5.1.5 Escalating E-Commerce Retail Sales
5.2 Key Trends and Developments
5.2.1 Growing Smart Thermostat Market
5.2.2 Surging Demand for Invertor Air Conditioner (AC) in China
5.2.3 Technological Advancements
5.2.4 Adoption of Sustainable Building Designs
5.3 Challenges
5.3.1 Increasing Raw Materials Prices
5.3.2 Growing Government Regulations
5.3.3 Data Infrastructure System Security
5.3.4 Retail Consolidations
5.3.5 Economic and Political Events

6. Competitive Landscape
6.1 Global HVAC Market
6.1.1 Key Players – Revenues Comparison
6.1.2 Key Players – Market Cap Comparison
6.1.3 Key Players – R&D Expenditures Comparison
6.1.4 Key Players – HVAC Equipment Market Share Comparison
6.1.5 Key Players – Residential Unitary HVAC Equipment Market Share Comparison
6.1.6 Key Players – Commercial Unitary HVAC Equipment Market Share Comparison
6.1.7 Key Players – Commercial Applied HVAC Equipment Market Share Comparison
6.1.8 Key Players – HVAC Aftermarket & Services Market Share Comparison
6.2 North America HVAC Market
6.2.1 Key Players – HVAC Equipment Market Share Comparison

7. Company Profiles
7.1 Daikin Industries, Ltd.
7.1.1 Business Overview
7.1.2 Financial Overview
7.1.3 Business Strategies
7.2 Raytheon Technologies Corporation
7.2.1 Business Overview
7.2.2 Financial Overview
7.2.3 Business Strategies
7.3 Trane Technologies Plc
7.3.1 Business Overview
7.3.2 Financial Overview
7.3.3 Business Strategies
7.4 Johnson Controls International Plc
7.4.1 Business Overview
7.4.2 Financial Overview
7.4.3 Business Strategies
7.5 Lennox International Inc.
7.5.1 Business Overview
7.5.2 Financial Overview
7.5.3 Business Strategies
7.6 Honeywell International Inc.
7.6.1 Business Overview
7.6.2 Financial Overview
7.6.3 Business Strategies

List of Figures

Types of HVAC Appliances
Types of HVAC Equipment
HVAC Value Chain
AC Market Growth Rate (2019/2020)
Global HVAC Market Value (2016-2020)
Global HVAC Market Value Forecast (2021-2025)
Global HVAC Market Value by Appliances (2020)
Global HVAC Market Value by Types (2020)
Global HVAC Equipment Market Value (2016-2020)
Global HVAC Equipment Market Value Forecast (2021-2025)
Global HVAC Equipment Market Value by Types (2020)
Global Residential HVAC Equipment Market Value (2016-2020)
Global Residential HVAC Equipment Market Value Forecast (2021-2025)
Global Residential HVAC Equipment Market Value by Types (2020)
Global Residential Ductless/Window HVAC Equipment Market Value (2016-2020)
Global Residential Ductless/Window HVAC Equipment Market Value Forecast (2021-2025)
Global Residential Ducted/Unitary HVAC Equipment Market Value (2016-2020)
Global Residential Ducted/Unitary HVAC Equipment Market Value Forecast (2021-2025)
Global Commercial HVAC Equipment Market Value (2016-2020)
Global Commercial HVAC Equipment Market Value Forecast (2021-2025)
Global Commercial HVAC Equipment Market Value by Types (2020)
Global Commercial Ductless HVAC Equipment Market Value (2016-2020)
Global Commercial Ductless HVAC Equipment Market Value Forecast (2021-2025)
Global Commercial Applied HVAC Equipment Market Value (2016-2020)
Global Commercial Applied HVAC Equipment Market Value Forecast (2021-2025)
Global Residential HVAC Equipment Market Volume (2016-2020)
Global Residential HVAC Equipment Market Volume Forecast (2021-2025)
Global HVAC Aftermarket & Services Market Value (2016-2020)
Global HVAC Aftermarket & Services Market Value Forecast (2021-2025)
Global HVAC Aftermarket & Services Market Value by Types (2020)
Global HVAC Market Value by Region (2020)
Asia-Pacific HVAC Market Value (2016-2020)
Asia-Pacific HVAC Market Value Forecast (2021-2025)
Americas HVAC Market Value (2016-2020)
Americas HVAC Market Value Forecast (2021-2025)
North America HVAC Equipment Market Value (2016-2020)
North America HVAC Equipment Market Value Forecast (2021-2025)
North America HVAC Equipment Market Value by Types (2020)
North America Residential HVAC Equipment Market Value (2016-2020)
North America Residential HVAC Equipment Market Value Forecast (2021-2025)
North America Commercial HVAC Equipment Market Value (2016-2020)
North America Commercial HVAC Equipment Market Value Forecast (2021-2025)
The U.S. HVAC Equipment Market Value (2016-2020)
The U.S. HVAC Equipment Market Value Forecast (2021-2025)
The U.S. HVAC Equipment Market Value by Types (2020)
The U.S. Commercial HVAC Equipment Market Value (2016-2020)
The U.S. Commercial HVAC Equipment Market Value Forecast (2021-2025)
The U.S. Commercial HVAC Equipment Market Value by Types (2020)
The U.S. Commercial Unitary HVAC Equipment Market Value (2016-2020)
The U.S. Commercial Unitary HVAC Equipment Market Value Forecast (2021-2025)
The U.S. Commercial Applied HVAC Equipment Market Value (2016-2020)
The U.S. Commercial Applied HVAC Equipment Market Value Forecast (2021-2025)
The U.S. Residential HVAC Equipment Market Value (2016-2020)
The U.S. Residential HVAC Equipment Market Value Forecast (2021-2025)
Global Population (2016-2020)
Global Construction Expenditure (2016-2020)
Global Home Automation Market (2020-2025)
Global E-Commerce Retail Sales (2020-2025)
Global Smart Thermostat Market (2016-2020)
China Air Conditioner (AC) Market (2016-2020)
Global Average Copper Prices (2014-2020)
Global Average Iron Ore Prices (2014-2020)
Key Players – Market Cap Comparison
Key Players – R&D Expenditures Comparison (2019/2020)
Key Players – HVAC Equipment Market Share Comparison (2020)
Key Players – Residential Unitary HVAC Equipment Market Share Comparison (2020)
Key Players – Commercial Unitary HVAC Equipment Market Share Comparison (2020)
Key Players – Commercial Applied HVAC Equipment Market Share Comparison (2020)
Key Players – HVAC Aftermarket & Services Market Share Comparison (2020)
Key Players – North America HVAC Equipment Market Share Comparison (2020)
Daikin Industries Net Sales and Net Income (2016-2020)
Daikin Industries Net Sales by Segments (2020)
Daikin Industries Net Sales by Region (2020)
Raytheon Technologies Net Sales and Net Income (Loss) (2016-2020)
Raytheon Technologies Net Sales by Segments (2020)
Raytheon Technologies Net Sales by Region (2020)
Trane Technologies Net Revenues and Net Earnings (2016-2020)
Trane Technologies Net Revenues by Region (2020)
Johnson Control Net Sales and Net Income (Loss) (2016-2020)
Johnson Controls Net Sales by Segment (2020)
Lennox International Net Sales and Net Income (2016-2020)
Lennox International Net Sales by Segments (2020)
Lennox International Net Sales by Region (2020)
Honeywell International Net Sales and Net Income (2016-2020)
Honeywell International Net Sales by Segments (2020)
Honeywell International Net Sales by Region (2020)

List of Tables

Components of HVAC
Global Annual Mean Temperatures (2016-2020)
Key Players – Revenues Comparison (2020)

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