HVAC Market by End-user, Type, and Geography - Forecast and Analysis 2021-2025

  • Published: Jan 2021
  • Pages: 120
  • SKU: IRTNTR46669

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The HVAC market size has the potential to grow by USD 68.80 billion during 2021-2025, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by end-user (non-residential and residential), type (HVAC equipment and HVAC services), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Carrier Global Corp., Daikin Industries Ltd., Danfoss AS, Haier Smart Home Co. Ltd., Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., Midea Group Co. Ltd., Samsung Electronics Co. Ltd., and Trane Technologies Plc.

Market Overview


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Market Competitive Analysis

The HVAC market is fragmented. Carrier Global Corp., Daikin Industries Ltd., and Danfoss AS are some of the major market participants. Factors such as the growing construction sector, rising preference for condensing boilers, and increasing refurbishment and replacement demand will offer immense growth opportunities. However, high market competition, lack of skilled labor, and high initial cost may impede the market growth. To make the most of the opportunities, vendors should focus on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this HVAC market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this HVAC market analysis report provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Carrier Global Corp.
  • Daikin Industries Ltd.
  • Danfoss AS
  • Haier Smart Home Co. Ltd.
  • Johnson Controls International Plc
  • Lennox International Inc.
  • LG Electronics Inc.
  • Midea Group Co. Ltd.
  • Samsung Electronics Co. Ltd.
  • Trane Technologies Plc


HVAC Market: Segmentation by Geography


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The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. APAC will offer several growth opportunities to market vendors during the forecast period. 

58% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for HVAC in APAC. This report provides an accurate prediction of the contribution of all segments to the growth of the HVAC market size.

HVAC Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive HVAC market growth during the next five years
  • Precise estimation of the HVAC market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the HVAC industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of HVAC market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The hvac market growth will increase by $68.80 billion during 2020-2025.
The hvac market is expected to grow at a CAGR of 6.57% during 2020-2025.
Technavio has segmented the hvac market by end user (Non-residential and Residential) ,type (HVAC equipment and HVAC services) , and geographic (APAC, North America, Europe, MEA, and South America).
Carrier Global Corp., Daikin Industries Ltd., Danfoss AS, Haier Smart Home Co. Ltd., Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., Midea Group Co. Ltd., Samsung Electronics Co. Ltd., Trane Technologies Plc are a few of the key vendors in the hvac market.
APAC will register the highest growth rate of 58.17% among the other regions. Therefore, the hvac market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • China
  • US
  • Japan
  • Germany
  • UK
The key factors driving the hvac market growth are:
  • Growing construction sector
The hvac market vendors should focus on grabbing business opportunities from the non-residential segment as it accounted for the largest market share in the base year.
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