Commercial HVAC Market is projected to be worth USD 142.97 billion by 2027, registering a CAGR of 6.86% during the forecast period (2021 – 2027),

Commercial HVAC Market Overview

A commercial HVAC system is a heating and/or cooling system for commercial spaces around the globe. It provides high efficiency heating and cooling solutions, using lesser energy with a lower environmental impact.

Commercial HVAC market demonstrates a high growth potential which is likely to attract many entrants to the market resultantly, intensifying the competition further. Manufacturers strive to develop innovative materials, and best practices. Incorporating acquisition, collaboration, partnership, and expansion the well-established players gain the competitive advantage to maintain their market position. Also, they make substantial investments in manufacturing & expansion program. Expansions help in reducing logistic cost and increase production capacities and potential to fetch larger turnovers.

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Globally Major key Players accelerates the Commercial HVAC Market are, United Technologies Corporation (US), Mitsubishi Corporation (Japan), Samsung Electronics Co., Ltd (South Korea), Daikin Industries Ltd (Japan), Haier Electronics Group Co. Ltd (China), Ingersoll Rand (Ireland), Johnson Controls (US), Farina Corporation (US), Edison Heating and Cooling (US), Lennox International Inc. (US), Rheem Manufacturing Company (US), AAON (US), Panasonic (Japan), Hitachi, Ltd. (Japan), and Danfoss (Denmark). 

Growth Drivers

• Rising number of data centers
• Increasing demand for HVAC system to reduce energy consumption
• Government tax and rebate programs
• Growing population in urban areas
• Rising disposable per capita income

Most important Segments of Commercial HVAC market covered in this report are,

On the basis of application, the global market is segmented as large & small offices, hospitals, shopping malls, restaurants, and others. The large and small offices segment is expected to dominate the market during the forecast period, owing to need for upgraded HVAC systems to meet energy-efficiency guidelines in the office spaces and ensure a reduction in the consumption of water and electricity. On the basis of ventilation equipment segment, the global market is segmented as humidifiers, dehumidifiers, air purifiers, air filters, ventilation fans, and air handling units. The air handling segment is expected to dominate the global market during the forecast period. On the basis of implementation type, the global market has been segmented into new construction and retrofit. The new construction segment is expected to dominate the market during the forecast period.

By Heating Equipment

• Heat Pump
• Furnaces
• Boilers
• Unitary Heaters

By Ventilation Equipment

• Humidifiers
• Dehumidifiers
• Air Purifiers
• Air Filters
• Ventilation Fans
• Air Handling Units

By Cooling Equipment

• Room Air Conditioners
• Unitary Air Conditioners
• Chillers
• Cooling Towers
• VRF System

By Implementation Type

• New Construction
• Retrofit

By Application

• Large and Small Offices
• Hospitals
• Shopping Malls
• Restaurants
• Others

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The Commercial HVAC market trends is growing pervasively, witnessing an exponential growth backed by the increasing investments, competitive activities, global developments, opportunity, and business trends during forecast period 2022 to 2030.

The global Commercial HVAC market during the period has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with key experts such as CEOs VPs, directors, and executives. Finally, the global market breakdown and data triangulation procedures have been employed to complete the overall market engineering processes and functions and hence, arrive at the exact statistics for all segments and subsegments.

Commercial HVAC Market Regional Analysis

The commercial HVAC market has been segmented into four regions, which are Asia-Pacific, North America, Europe, and the rest of the world. In 2018, Asia-Pacific held the largest share in the commercial HVAC market, mainly due to the growth of the construction industry, rapid industrialization, and need for energy-efficient HVAC systems. The region is also expected to be the fastest growing market during the forecast period. Moreover, factors such as the increased power consumption, government mandates on energy efficiency, rising influx of renewable resources in the energy mix, and provisions for better power for rural areas in Asia-Pacific are driving the market growth. Within Asia-Pacific, China is likely to hold the largest share during the forecast period owing to increasing government measures to ensure energy-efficient HVAC systems are being installed in new buildings and the growing adoption of inverter-based air conditioner systems. Similarly, countries such as Japan, India, and Australia are experiencing growth due to the need for infrastructural development and rapid urbanization.

The market in North America is expected to be the second-largest owing to the increasing demand for energy and modernization of infrastructure. The US is expected to dominate North America during the forecast period. Europe is also expected to grow at a significant rate owing to many advanced technologies being introduced by the key players, such as Danfoss, Ingersoll Rand, Mitsubishi electric Corporation, Johnson Controls, with a presence in Europe. The UK is expected to dominate the market in Europe due to the new commercial energy-efficient HVAC projects, which are specially designed for commercial spaces. Similarly, countries such as Saudi Arabia and Brazil are the two economies, which are expected to dominate the market in the Middle East and South America.

Segment By Geographical Region

• North America
• The U.S.
• Canada
• Europe
• Netherlands
• Germany
• France
• Asia Pacific
• China
• Indonesia
• India
• Thailand
• Central & South America
• Brazil
• Middle East & Africa

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