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HVAC System Market by Cooling, Heating, Ventilation, Technology, Service - Global Forecast to 2030
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CARRIER
DAIKIN INDUSTRIES, LTD.
LG ELECTRONICS
MIDEA
TRANE TECHNOLOGIES PLC
LENNOX INTERNATIONAL INC.
JOHNSON CONTROLS
HONEYWELL INTERNATIONAL INC.
MITSUBISHI ELECTRIC CORPORATION
SAMSUNG
GREE ELECTRIC APPLIANCES, INC. OF ZHUHAI
FUJITSU GENERAL
PANASONIC HOLDINGS CORPORATION
ROBERT BOSCH GMBH
MODINE
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HAIER GROUP
SYSTEMAIR AB
AAON
WHIRLPOOL CORPORATION
ELECTROLUX
FERROLI
VAILLANT GROUP
RHEEM MANUFACTURING COMPANY
AMERICAN STANDARD HEATING AND AIR CONDITIONING
WM TECHNOLOGIES LLC
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LSH
The HVAC system market is projected to grow from USD 299.28 billion in 2025 to USD 407.77 billion by 2030, growing at a CAGR of 6.4% from 2025 to 2030. The HVAC industry has experienced significant advancements in recent years, leading to a surge in demand for innovative HVAC systems.
Scope of the Report
Years Considered for the Study 2021-2030
Base Year 2024
Forecast Period 2025-2030
Units Considered Value (USD Billion)
Segments By Heating Equipment, Cooling Equipment, Ventilation Equipment, Technology, Implementation Type, Service Type, End User, and Region
Regions covered North America, Europe, APAC, RoW
Several factors have driven these advancements, including the growing need for energy efficiency, improved indoor air quality, and the desire for smarter, more connected systems. Smart HVAC systems use sensors and advanced algorithms to monitor indoor and outdoor conditions, adjust system settings in real time, and provide users with detailed analytics on energy usage and system performance.
"The new construction buildings segment accounts for the largest market share during the forecast period."
Government involvement is pivotal in the HVAC market, as it encourages the adoption of HVAC systems to support urbanization while enforcing regulatory compliance. The growing emphasis on energy efficiency and environmentally friendly building practices, such as deployment of high-efficiency HVAC equipment, adoption of VRF systems, integration of smart thermostats and building automation controls, use of advanced air filtration, and incorporation of renewable energy-powered heating and cooling, has resulted in stricter standards, including ASHRAE Standard 90.1, which defines energy efficiency requirements for US buildings.
"The air handling unit segment is projected to register the highest CAGR during the forecast period."
The air handling unit (AHU) segment is projected to record the highest CAGR in the overall HVAC system market due to rising demand for improved indoor air quality, energy-efficient ventilation, and compliance with stricter air quality standards. Increasing construction of commercial spaces and healthcare facilities further drives the adoption of AHUs for effective air distribution and filtration.
"China is estimated to account for the largest share of the Asia Pacific HVAC system market in 2025."
China is the largest market for HVAC system in Asia Pacific. The market in the country is driven by rapid urbanization, massive infrastructure and residential construction projects, and a growing middle-class population demanding modern comfort solutions. Supportive government policies promoting energy-efficient technologies, along with rising temperatures and increased adoption of air conditioning systems, are further fueling the robust growth of China's HVAC market.
By Company Type: Tier 1-35%, Tier 2-30%, and Tier 3-35%
By Designation: C-level Executives-35%, D-level Executives-40%, and Others-25%
By Region: North America-25%, Europe-35%, Asia Pacific-30%, and RoW-10%
Prominent players profiled in this report include Carrier (US), DAIKIN INDUSTRIES, Ltd. (Japan), LG Electronics (South Korea), Lennox International Inc. (US), Midea (China), Johnson Controls (Ireland), Trane Technologies plc (Ireland), Honeywell International Inc. (US), Mitsubishi Electric Corporation (Japan), SAMSUNG (South Korea), GREE ELECTRIC APPLIANCES, INC. OF ZHUHAI (China), Fujitsu General (Japan), Panasonic Holdings Corporation (Japan), Robert Bosch Group (Germany), and Modine (US).
Research Coverage:
The report defines, describes, and forecasts the HVAC system market based on cooling equipment (unitary air conditioners, VRF systems, chillers, room air conditioners, coolers, and cooling towers), heating equipment (heat pumps, furnaces, boilers, and unitary heaters), ventilation equipment (air-handling units, air filters, dehumidifiers, ventilation fans, humidifiers, air purifiers), technology (traditional HVAC systems, smart HVAC systems, and sustainable/green HVAC systems), implementation type (new construction buildings, retrofit buildings), service type (installation services, maintenance & repair services, upgradation/replacement services, and consulting services), end user (commercial, residential, and industrial), and region (North America, Europe, Asia Pacific, and RoW). It provides detailed information regarding drivers, restraints, opportunities, and challenges influencing the market's growth. It also analyzes competitive developments such as acquisitions, product launches, expansions, and actions carried out by the key players to grow in the market.
Reasons to Buy This Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue for the overall HVAC system market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insight to position their business better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market's pulse and provides information on key drivers, restraints, opportunities, and challenges.
The report will provide insights into the following points:
Analysis of key drivers (Increasing demand for energy-efficient HVAC systems), restraints (Rising expenses for installing, servicing, and maintaining HVAC systems), opportunities (Swift evolution of IoT within HVAC industry), and challenges (Lack of awareness about benefits of HVAC systems in developing countries) of the HVAC system market
Product development /innovation: Detailed insights into upcoming technologies, research & development activities, and new product launches in the HVAC system market
Market development: Comprehensive information about lucrative markets; the report analyses the HVAC system market across various regions
Market diversification: Exhaustive information about new products launched, untapped geographies, recent developments, and investments in the HVAC system market
Competitive Assessment: In-depth assessment of market share, growth strategies, and offering of leading players, including Carrier (US), DAIKIN INDUSTRIES, Ltd. (Japan), LG Electronics (South Korea), Midea (China), and Trane Technologies plc (Ireland) in the HVAC system market.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 INCLUSIONS AND EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 UNITS CONSIDERED
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 List of major secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 List of major participants in primary interviews
2.1.2.2 Key data from primary sources
2.1.2.3 Breakdown of primaries
2.1.2.4 Key industry insights
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.2 MARKET SIZE ESTIMATION
2.2.1 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS
2.2.2 BOTTOM-UP APPROACH
2.2.2.1 Approach for arriving at market size using bottom-up analysis
2.2.3 TOP-DOWN APPROACH
2.2.3.1 Approach for arriving at market size using top-down analysis
2.3 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
2.5 RISK ASSESSMENT
2.6 LIMITATIONS OF RESEARCH
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HVAC SYSTEM (EQUIPMENT + SERVICE) MARKET
4.2 NORTH AMERICA: HVAC SYSTEM MARKET, BY COUNTRY AND EQUIPMENT TYPE
4.3 HVAC SYSTEM MARKET IN COMMERCIAL END USER, BY TYPE
4.4 HVAC SYSTEM MARKET, BY REGION
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Increasing demand for energy-efficient HVAC systems
5.2.1.2 Increased construction activities in residential and industrial sectors
5.2.1.3 Government policies and incentives promoting energy efficiency and natural resource conservation
5.2.1.4 Growing demand for indoor and outdoor air quality
5.2.1.5 Advancements in HVAC systems
5.2.2 RESTRAINTS
5.2.2.1 Rising expenses for installing, servicing, and maintaining HVAC systems
5.2.2.2 Limited space for large HVAC installations in commercial and residential buildings
5.2.2.3 Insufficient technical expertise and shortage of skilled labor
5.2.3 OPPORTUNITIES
5.2.3.1 Swift evolution of IoT within HVAC industry
5.2.3.2 Significant traction of VRF systems in residential and commercial applications
5.2.3.3 Growing emphasis on next-generation low-GWP refrigerants for HVAC systems
5.2.4 CHALLENGES
5.2.4.1 Lack of awareness about benefits of HVAC systems in developing countries
5.2.4.2 Increasing environmental concerns and aging infrastructure
5.3 VALUE CHAIN ANALYSIS
5.4 ECOSYSTEM ANALYSIS
5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.6 PRICING ANALYSIS
5.6.1 AVERAGE SELLING PRICE OF HVAC SYSTEM EQUIPMENT, BY KEY END USERS
5.6.2 AVERAGE SELLING PRICE TREND OF HVAC SYSTEM EQUIPMENT, BY REGION
5.7 TECHNOLOGY ANALYSIS
5.7.1 KEY TECHNOLOGIES
5.7.1.1 Air conditioning units
5.7.1.2 Heating units
5.7.1.3 Ventilation systems
5.7.2 COMPLEMENTARY TECHNOLOGIES
5.7.2.1 Sensors
5.7.2.2 Building automation systems
5.7.3 ADJACENT TECHNOLOGIES
5.7.3.1 Software technologies
5.7.3.2 HVAC systems running on renewable energy
5.8 PORTER'S FIVE FORCES ANALYSIS
5.8.1 INTENSITY OF COMPETITIVE RIVALRY
5.8.2 BARGAINING POWER OF SUPPLIERS
5.8.3 BARGAINING POWER OF BUYERS
5.8.4 THREAT OF SUBSTITUTES
5.8.5 THREAT OF NEW ENTRANTS
5.9 KEY STAKEHOLDERS AND BUYING CRITERIA
5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.9.2 BUYING CRITERIA
5.10 CASE STUDY ANALYSIS
5.10.1 ERIKS ADVANCES ENERGY EFFICIENCY WITH LG ELECTRONICS AI-DRIVEN VRF SOLUTION
5.10.2 MITSUBISHI ELECTRIC CORPORATION ADVANCES CITY MULTI VRF ZONING SYSTEMS, HEAT2O HEAT PUMP WATER HEATER SYSTEMS, AND INTEGRATED CONTROLS
5.10.3 AC CONDENSER REPLACEMENT BY TOWNSEND ENERGY
5.10.4 INSTALLATION OF DUCTLESS MINI-SPLIT SYSTEM FOR SUPPLEMENTAL HEATING AND COOLING BY NETR.
5.10.5 TEMPERATURE CONTROL SOLUTION FOR RAILWAY CONTROL SYSTEM BY DAIKIN
5.10.6 MULTIPLE LG HIGH STATIC DUCTED SINGLE-ZONE UNITS PROVIDE EVEN TEMPERATURE YEAR-ROUND IN LARGE OPEN WAREHOUSE IN SOUTH GEORGIA
5.11 INVESTMENT AND FUNDING SCENARIO
5.12 TRADE ANALYSIS
5.12.1 IMPORT SCENARIO
5.12.2 EXPORT SCENARIO
5.13 PATENT ANALYSIS
5.14 KEY CONFERENCES AND EVENTS
5.15 REGULATORY LANDSCAPE
5.15.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.15.2 STANDARDS AND REGULATIONS
5.15.2.1 Standards
5.15.2.2 Regulations
5.16 IMPACT OF GEN AI ON HVAC SYSTEM MARKET
5.17 IMPACT OF 2025 US TARIFFS ON HVAC SYSTEM MARKET
5.17.1 INTRODUCTION
5.17.2 KEY TARIFF RATES
5.17.3 PRICE IMPACT ANALYSIS
5.17.4 IMPACT ON COUNTRIES/REGIONS
5.17.4.1 US
5.17.4.2 Europe
5.17.4.3 Asia Pacific
5.17.5 IMPACT ON END-USE INDUSTRIES
6 HVAC SYSTEM MARKET, BY COOLING EQUIPMENT
6.1 INTRODUCTION
6.2 UNITARY AIR CONDITIONERS
6.2.1 LOW INITIAL COST AND EASE OF INSTALLATION TO DRIVE DEMAND
6.2.2 DIFFERENCES IN AIR CONDITIONER STYLES, BY REGION
6.2.2.1 Split air conditioners
6.2.2.2 Packaged air conditioners
6.3 VRF SYSTEMS
6.3.1 GROWING DEMAND FOR ENERGY-EFFICIENT AND FLEXIBLE HVAC SOLUTIONS TO DRIVE MARKET
6.4 CHILLERS
6.4.1 INCREASING INFRASTRUCTURE DEVELOPMENT AND RAPID EXPANSION OF DATA CENTERS FUELING DEMAND
6.4.1.1 Scroll chillers
6.4.1.2 Screw chillers
6.4.1.3 Centrifugal chillers
6.4.1.4 Reciprocating chillers
6.4.1.5 Absorption chillers
6.5 ROOM AIR CONDITIONERS
6.5.1 INCREASING RESIDENTIAL COOLING NEEDS TO DRIVE STRONG DEMAND
6.6 COOLERS
6.6.1 DEMAND FOR LOW-COST, ENERGY-EFFICIENT, AND ECO-FRIENDLY COOLING SOLUTIONS TO FUEL GROWTH
6.6.1.1 Ducted coolers
6.6.1.2 Window coolers
6.7 COOLING TOWERS
6.7.1 RISING NEED FOR EFFICIENT COOLING IN INDUSTRIAL PROCESSES TO DRIVE DEMAND
6.7.1.1 Evaporative cooling towers
6.7.1.2 Dry cooling towers
6.7.1.3 Hybrid cooling towers
7 HVAC SYSTEM MARKET, BY HEATING EQUIPMENT
7.1 INTRODUCTION
7.2 HEAT PUMPS
7.2.1 RISING DEMAND FOR LOW-CARBON HEATING SOLUTIONS TO PROPEL MARKET GROWTH
7.2.2 AIR-SOURCE HEAT PUMPS
7.2.2.1 Ducted
7.2.2.2 Ductless/Minisplit
7.2.3 WATER-SOURCE HEAT PUMPS
7.2.4 GROUND-SOURCE/GEOTHERMAL HEAT PUMPS
7.2.5 ADVANCED HEAT PUMP TECHNOLOGIES
7.2.5.1 Staged/Multi-speed compressors
7.2.5.2 Dual-speed motors
7.2.5.3 Desuperheater
7.2.5.4 Dual fuel/hybrid systems
7.2.5.5 Cold climate heat pumps
7.3 FURNACES
7.3.1 GROWING DEMAND FOR ENERGY-EFFICIENT HEATING SOLUTIONS TO FUEL ADOPTION
7.3.1.1 Oil furnaces
7.3.1.2 Gas furnaces
7.3.1.3 Electric furnaces
7.4 UNITARY HEATERS
7.4.1 ENERGY EFFICIENCY AND COST-EFFECTIVENESS TO BOOST DEMAND
7.4.1.1 Gas unit heaters
7.4.1.2 Oil-fired unit heaters
7.4.1.3 Electric unit heaters
7.5 BOILERS
7.5.1 GROWING FOCUS ON SUSTAINABILITY TO BOOST MARKET GROWTH
7.5.1.1 Steam boilers
7.5.1.2 Hot water boilers
8 HVAC SYSTEM MARKET, BY VENTILATION EQUIPMENT
8.1 INTRODUCTION
8.2 AIR-HANDLING UNITS
8.2.1 USE OF VARIABLE FREQUENCY DRIVES IN AIR-HANDLING UNITS FOR MOTOR SPEED CONTROL TO DRIVE DEMAND
8.3 AIR FILTERS
8.3.1 RISING DEMAND FOR CLEANER INDOOR ENVIRONMENTS TO BOOST MARKET
8.4 DEHUMIDIFIERS
8.4.1 STRINGENT GOVERNMENT REGULATIONS PROMOTING ENERGY-EFFICIENT APPLIANCES TO PROPEL MARKET GROWTH
8.4.1.1 Refrigeration dehumidifiers
8.4.1.2 Absorption dehumidifiers
8.5 VENTILATION FANS
8.5.1 INCREASING TEMPERATURES AND HUMIDITY LEVELS TO BOOST DEMAND FOR VENTILATION FANS
8.5.1.1 Crossflow fans
8.5.1.2 Axial fans
8.5.1.3 Centrifugal fans
8.5.1.4 Domestic fans
8.5.1.5 Range hood fans
8.5.1.6 Power roof fans
8.6 HUMIDIFIERS
8.6.1 RISING INDOOR AIR POLLUTION AND CHANGING CLIMATE CONDITIONS TO ACCELERATE MARKET GROWTH
8.6.1.1 Warm-mist humidifiers
8.6.1.2 Ultrasonic humidifiers
8.6.1.3 Cool-mist humidifiers
8.7 AIR PURIFIERS
8.7.1 RISING CONCERNS OVER INDOOR AIR POLLUTION AND HEALTH SAFETY TO DRIVE MARKET
8.7.1.1 HEPA air purifiers
8.7.1.2 Activated carbon air purifiers
8.7.1.3 Electrostatic air purifiers
8.7.1.4 Ionic air purifiers
9 HVAC SYSTEM MARKET, BY TECHNOLOGY
9.1 INTRODUCTION
9.2 TRADITIONAL HVAC SYSTEMS
9.2.1 GROWING DEMAND FOR ZONE-SPECIFIC COMFORT SOLUTIONS TO DRIVE ADOPTION
9.3 SMART HVAC SYSTEMS
9.3.1 INTEGRATION OF IOT AND ENERGY REGULATIONS TO DRIVE MARKET GROWTH
9.3.2 SMART HEATING & COOLING: FUTURE OUTLOOK
9.3.2.1 Remote monitoring & control
9.3.2.2 Smart zoning systems
9.3.2.3 Occupancy-based heating & cooling
9.3.2.4 Energy optimization
9.3.2.5 Heating & cooling system diagnostics
9.3.2.6 AI/ML integration
9.3.3 SMART VENTILATION: FUTURE OUTLOOK
9.3.3.1 Automated air-flow control
9.3.3.2 Demand-controlled ventilation
9.3.3.3 Integration with building automation systems
9.4 SUSTAINABLE/GREEN HVAC SYSTEM
9.4.1 INCREASING DEMAND FOR LOW-CARBON BUILDINGS TO ACCELERATE DEMAND
9.4.2 SUSTAINABLE HEATING SYSTEMS: FUTURE OUTLOOK
9.4.2.1 Solar-based heating
9.4.2.2 Geothermal heat pumps
9.4.2.3 Biomass heating systems
9.4.2.4 Low-emission furnaces
9.4.2.5 Electric heating systems
9.4.2.6 Hydronic heating systems
9.4.2.7 Dual fuel heat pump
9.4.3 SUSTAINABLE COOLING SYSTEMS: FUTURE OUTLOOK
9.4.3.1 Inverter-based air conditioning
9.4.3.2 Cooling using waste heat
9.4.3.3 VRF systems with low-GWP refrigerants
9.4.3.4 Solar-based cooling
9.4.4 SUSTAINABLE VENTILATION SYSTEMS: FUTURE OUTLOOK
9.4.4.1 Energy recovery ventilators
9.4.4.2 Low-energy DC ventilation fans
9.4.4.3 Eco-friendly air purifiers
9.4.4.4 HEPA & reusable air filters
9.4.4.5 Airflow optimization systems
10 HVAC SYSTEM MARKET, BY IMPLEMENTATION TYPE
10.1 INTRODUCTION
10.2 NEW CONSTRUCTION BUILDINGS
10.2.1 GOVERNMENT INITIATIVES FOR ECO-FRIENDLY BUILDINGS TO DRIVE MARKET GROWTH
10.3 RETROFIT BUILDINGS
10.3.1 GREEN BUILDING INITIATIVE TO BOOST MARKET GROWTH
11 HVAC SYSTEM MARKET, BY SERVICE TYPE
11.1 INTRODUCTION
11.2 INSTALLATION SERVICES
11.2.1 RISING DEMAND FOR ENERGY-EFFICIENT SYSTEMS AND PROFESSIONAL INSTALLATION SERVICES TO DRIVE DEMAND
11.3 MAINTENANCE & REPAIR SERVICES
11.3.1 NEED FOR TIMELY MAINTENANCE AND REPAIRS TO GUARANTEE RELIABLE COMFORT AND PERFORMANCE TO DRIVE GROWTH
11.4 UPGRADATION/REPLACEMENT SERVICES
11.4.1 INCREASING NEED FOR ENERGY-EFFICIENT BUILDINGS TO PROPEL ADOPTION
11.5 CONSULTING SERVICES
11.5.1 INCREASING DEMAND FOR CUSTOMIZED HVAC DESIGN SOLUTIONS TO FUEL GROWTH
12 HVAC SYSTEM MARKET, BY END USER
12.1 INTRODUCTION
12.2 COMMERCIAL
12.2.1 INCREASING ADOPTION OF ENERGY-EFFICIENT EQUIPMENT TO ACCELERATE GROWTH
12.2.1.1 Offices
12.2.1.2 Government buildings
12.2.1.3 Healthcare
12.2.1.4 Education
12.2.1.5 Retail
12.2.1.6 Airports
12.2.1.7 Data centers
12.3 RESIDENTIAL
12.3.1 GOVERNMENT INCENTIVES AND ENERGY EFFICIENCY REGULATIONS DRIVING ADOPTION OF RESIDENTIAL HVAC SYSTEMS
12.4 INDUSTRIAL
12.4.1 DEMAND FOR ENERGY-EFFICIENT HVAC SYSTEMS INCREASING IN INDUSTRIAL SPACES TO REDUCE OPERATIONAL COSTS
12.4.1.1 Manufacturing facilities
12.4.1.2 Warehouses
12.4.1.3 Power plants
13 HVAC SYSTEM MARKET, BY REGION
13.1 INTRODUCTION
13.2 NORTH AMERICA
13.2.1 MACROECONOMIC OUTLOOK FOR NORTH AMERICA
13.2.2 US
13.2.2.1 Increasing government initiatives and construction of energy-efficient buildings to drive market
13.2.3 CANADA
13.2.3.1 Government incentives for renewable heating and cooling to boost market
13.2.4 MEXICO
13.2.4.1 Increasing government rebates to propel market growth
13.3 EUROPE
13.3.1 MACROECONOMIC OUTLOOK FOR EUROPE
13.3.2 UK
13.3.2.1 Government-backed net-zero emission targets to accelerate market growth
13.3.3 GERMANY
13.3.3.1 Government-funded energy research and renovation incentives to bolster market growth
13.3.4 FRANCE
13.3.4.1 Rising focus on reducing greenhouse gases to drive market
13.3.5 SPAIN
13.3.5.1 Regulatory reforms to drive market growth
13.3.6 ITALY
13.3.6.1 Government-backed retrofit incentives to drive market
13.3.7 POLAND
13.3.7.1 EU-aligned clean energy targets to drive market
13.3.8 NORDICS
13.3.8.1 Rising consumer demand for sustainable home heating technologies to propel market growth
13.3.9 REST OF EUROPE
13.4 ASIA PACIFIC
13.4.1 MACROECONOMIC OUTLOOK FOR ASIA PACIFIC
13.4.2 CHINA
13.4.2.1 Rising industrialization and urbanization to drive market growth
13.4.3 JAPAN
13.4.3.1 Stricter energy efficiency standards to foster market growth
13.4.4 INDIA
13.4.4.1 Rising focus on energy conservation to bolster market growth
13.4.5 SOUTH KOREA
13.4.5.1 Increasing awareness about energy conservation to bolster adoption
13.4.6 AUSTRALIA
13.4.6.1 Increasing sustainable construction practices to drive market demand
13.4.7 INDONESIA
13.4.7.1 Rising industrialization fueling market growth
13.4.8 MALAYSIA
13.4.8.1 Increasing government incentives to support market growth
13.4.9 THAILAND
13.4.9.1 Strong export capacity to increase demand during forecast period
13.4.10 VIETNAM
13.4.10.1 Growing hospitality and tourism sectors to drive market growth
13.4.11 REST OF ASIA PACIFIC
13.5 REST OF THE WORLD (ROW)
13.5.1 MACROECONOMIC OUTLOOK FOR REST OF THE WORLD
13.5.2 SOUTH AMERICA
13.5.2.1 Rising infrastructure investment to propel market growth
13.5.3 MIDDLE EAST
13.5.3.1 Stringent regulations for enhancing energy performance of buildings to drive market
13.5.3.2 Bahrain
13.5.3.3 Kuwait
13.5.3.4 Oman
13.5.3.5 Qatar
13.5.3.6 Saudi Arabia
13.5.3.7 United Arab Emirates (UAE)
13.5.3.8 Rest of Middle East
13.5.4 AFRICA
13.5.4.1 Rapid urbanization to drive market growth
13.5.4.2 South Africa
13.5.4.3 Other African countries
14 COMPETITIVE LANDSCAPE
14.1 OVERVIEW
14.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, JUNE 2022-JULY 2025
14.3 REVENUE ANALYSIS, 2020-2024
14.4 MARKET SHARE ANALYSIS, 2024
14.5 COMPANY VALUATION AND FINANCIAL METRICS, 2024
14.6 BRAND/PRODUCT COMPARISON
14.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024
14.7.1 STARS
14.7.2 EMERGING LEADERS
14.7.3 PERVASIVE PLAYERS
14.7.4 PARTICIPANTS
14.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024
14.7.5.1 Company footprint
14.7.5.2 Region footprint
14.7.5.3 Equipment footprint
14.7.5.4 Implementation type footprint
14.7.5.5 Service type footprint
14.7.5.6 End user footprint
14.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024
14.8.1 PROGRESSIVE COMPANIES
14.8.2 RESPONSIVE COMPANIES
14.8.3 DYNAMIC COMPANIES
14.8.4 STARTING BLOCKS
14.8.5 COMPETITIVE BENCHMARKING: KEY STARTUPS/SMES, 2024
14.8.5.1 Detailed list of startups/SMEs
14.8.5.2 Competitive benchmarking of key startups/SMEs
14.9 COMPETITIVE SCENARIO
14.9.1 PRODUCT LAUNCHES
14.9.2 DEALS
15 COMPANY PROFILES
15.1 KEY PLAYERS
15.1.1 CARRIER
15.1.1.1 Business overview
15.1.1.2 Products/Solutions/Services offered
15.1.1.3 Recent developments
15.1.1.3.1 Product/Service launches
15.1.1.3.2 Deals
15.1.1.4 MnM view
15.1.1.4.1 Key strengths
15.1.1.4.2 Strategic choices
15.1.1.4.3 Weaknesses and competitive threats
15.1.2 DAIKIN INDUSTRIES, LTD.
15.1.2.1 Business overview
15.1.2.2 Products/Solutions/Services offered
15.1.2.3 Recent developments
15.1.2.3.1 Product launches
15.1.2.3.2 Deals
15.1.2.4 MnM view
15.1.2.4.1 Key strengths
15.1.2.4.2 Strategic choices
15.1.2.4.3 Weaknesses and competitive threats
15.1.3 LG ELECTRONICS
15.1.3.1 Business overview
15.1.3.2 Products/Solutions/Services offered
15.1.3.3 Recent developments
15.1.3.3.1 Product/Service launches
15.1.3.4 MnM view
15.1.3.4.1 Key strengths
15.1.3.4.2 Strategic choices
15.1.3.4.3 Weaknesses and competitive threats
15.1.4 MIDEA
15.1.4.1 Business overview
15.1.4.2 Products/Solutions/Services offered
15.1.4.3 Recent developments
15.1.4.3.1 Product/Service launches
15.1.4.3.2 Deals
15.1.4.4 MnM view
15.1.4.4.1 Key strengths
15.1.4.4.2 Strategic choices
15.1.4.4.3 Weaknesses and competitive threats
15.1.5 TRANE TECHNOLOGIES PLC
15.1.5.1 Business overview
15.1.5.2 Products/Solutions/Services offered
15.1.5.3 Recent developments
15.1.5.3.1 Product/Service launches
15.1.5.3.2 Deals
15.1.5.4 MnM view
15.1.5.4.1 Key strengths
15.1.5.4.2 Strategic choices
15.1.5.4.3 Weaknesses and competitive threats
15.1.6 LENNOX INTERNATIONAL INC.
15.1.6.1 Business overview
15.1.6.2 Products/Solutions/Services offered
15.1.6.3 Recent developments
15.1.6.3.1 Product/Service launches
15.1.6.3.2 Deals
15.1.7 JOHNSON CONTROLS
15.1.7.1 Business overview
15.1.7.2 Products/Solutions/Services offered
15.1.7.3 Recent developments
15.1.7.3.1 Product/Service launches
15.1.7.3.2 Deals
15.1.8 HONEYWELL INTERNATIONAL INC.
15.1.8.1 Business overview
15.1.8.2 Products/Solutions/Services offered
15.1.8.3 Recent developments
15.1.9 MITSUBISHI ELECTRIC CORPORATION
15.1.9.1 Business overview
15.1.9.2 Products/Solutions/Services offered
15.1.9.3 Recent developments
15.1.9.3.1 Product/Service launches
15.1.9.3.2 Deals
15.1.10 SAMSUNG
15.1.10.1 Business overview
15.1.10.2 Products/Solutions/Services offered
15.1.10.3 Recent developments
15.1.10.3.1 Product/Service launches
15.1.11 GREE ELECTRIC APPLIANCES, INC. OF ZHUHAI
15.1.11.1 Business overview
15.1.11.2 Products/Solutions/Services offered
15.1.12 FUJITSU GENERAL
15.1.12.1 Business overview
15.1.12.2 Products/Solutions/Services offered
15.1.12.3 Recent developments
15.1.12.3.1 Product/Service launches
15.1.13 PANASONIC HOLDINGS CORPORATION
15.1.13.1 Business overview
15.1.13.2 Products/Solutions/Services offered
15.1.13.3 Recent developments
15.1.13.3.1 Product/Service launches
15.1.13.3.2 Deals
15.1.14 ROBERT BOSCH GMBH
15.1.14.1 Business overview
15.1.14.2 Products/Solutions/Services offered
15.1.14.3 Recent developments
15.1.14.3.1 Product/Service launches
15.1.14.3.2 Deals
15.1.15 MODINE
15.1.15.1 Business overview
15.1.15.2 Products/Solutions/Services offered
15.1.15.3 Recent developments
15.2 OTHER PLAYERS
15.2.1 HAIER GROUP
15.2.2 SYSTEMAIR AB
15.2.3 AAON
15.2.4 WHIRLPOOL CORPORATION
15.2.5 ELECTROLUX
15.2.6 FERROLI
15.2.7 VAILLANT GROUP
15.2.8 RHEEM MANUFACTURING COMPANY
15.2.9 AMERICAN STANDARD HEATING AND AIR CONDITIONING
15.2.10 WM TECHNOLOGIES LLC
16 APPENDIX
16.1 DISCUSSION GUIDE
16.2 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
16.3 CUSTOMIZATION OPTIONS
16.4 RELATED REPORTS
16.5 AUTHOR DETAILS