Global Heating, Ventilation & Air Conditioning (HVAC) Market Report 2021: A US$202.92 Billion Market in 2025

DUBLIN, August 16, 2021–(BUSINESS WIRE)–The “Global Heating, Ventilation and Air Conditioning (HVAC) Market: Insights and Forecasting Potential Impact of COVID-19 (2021-2025)” report has been added to’s offer.

The global HVAC market value is expected to reach US$202.92 billion by 2025, at a CAGR of 6.72% for the 2021-2025 period.

Factors such as the growing world population, increasing construction activity, emerging home automation market, rising annual average temperature and rising e-commerce retail sales are expected to drive market growth. However, the industry’s growth would be challenged by rising commodity prices, increasing government regulation, data infrastructure system security, retail consolidations, and economic and political events.

Some notable trends include the growing smart thermostat market, rising demand for inverter air conditioners (AC) in China, technological advancements, and adoption of sustainable building designs.

In 2020, the outbreak of the COVID-19 pandemic has had an adverse impact on the market as sales of commercial HVAC products have fallen rapidly.

The global heating, ventilation and air conditioning market can be divided into two broad segments: equipment and aftermarket & services. The equipment segment is further divided into commercial and residential products.

The fastest growing regional market is Asia Pacific. Growth would be supported by growing construction activity, rising annual average temperatures and increasing infrastructure spending.

Scope of the report:

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

  • Key regional markets (Asia-Pacific and Americas) were analysed, along with US country coverage.

  • The market dynamics such as growth engines, market trends and challenges are analyzed in depth.

  • The competitive landscape of the market along with the company profiles of leading players such as 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.

Main topics covered:

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 the heating industry

2.3 Impact on the 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 Device

3.4 Global HVAC Market Value by Type

3.5 Global HVAC Market Value by Regions

4. Regional HVAC Market Analysis

5. Market Dynamics

5.1 Growth factors

5.1.1 Growing world population

5.1.2 Increasing construction activity

5.1.3 Emerging Home Automation Market

5.1.4 Intensification of the annual average temperature

5.1.5 Escalate Ecommerce Retail Sales

5.2 Main trends and developments

5.2.1 Growing Smart Thermostat Market

5.2.2 Rising demand for inverter air conditioners (AC) in China

5.2.3 Technological progress

5.2.4 Determination of sustainable building designs

5.3 Challenges

5.3.1 Raising commodity prices

5.3.2 Increasing 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

6.2 North American HVAC Market

7. Company Profiles

  • Daikin Industries, Ltd.

  • Financial Overview

  • Honeywell International Inc.

  • Johnson Controls International Plc

  • Lennox International Inc.

  • Raytheon Technologies Corporation

  • Trane Technologies Plc

For more information about this report, visit

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