Gitnux/Report 2026

Cooling Industry Statistics

Cooling and refrigeration are already a major electricity load, with refrigeration and air conditioning together at about 7% of global demand, and U.S. commercial cooling taking roughly 60% of summer peak electricity use. This page pairs the latest market scale signals with the practical levers driving change, from variable speed HVAC savings up to 10% to 60% and smart controls reducing cooling energy by 10% to 30% to low GWP transitions shaped by new EU F gas rules.
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November 11, 2026Updated
Cooling Industry Statistics
Priya ChandrasekaranWritten by Priya Chandrasekaran·Edited by Sophie Moreland·Fact-checked by Jonathan Hale
Published ·Updated
How this report is researched
01Editorial Scope

An editor sets the topic, the inclusion criteria, and the evaluation framework before research starts.

02Source Research

AI search agents locate sources and extract each figure together with the document it came from.

Read our full methodology →

Search agents attach provenance to every extracted figure.

Next review: within 31 days

01 Industry overview

The cooling industry at a glance

Cooling is expanding rapidly: global air-conditioner shipments reached 200 million units in 2024, while access remains uneven and emissions pressures are intensifying.

$105.1B[83]
Air-conditioning systems market, 2025
200M units[84]
Global AC shipments, 2024
40%[84]
Population with AC access, 2025
4.1 GtCO2e[85]
Cooling emissions, 2022
Market size
The global air-conditioning systems market was valued at $105.1 billion in 2025. A broader cooling-market estimate from IFC put the global market, including equipment, installation and ancillary costs, at $530 billion in 2020.[83][86]
Forecast & CAGR
The air-conditioning systems market is forecast to reach $183.0 billion by 2033, implying a 7.2% CAGR from 2026 to 2033. IFC’s broader cooling-market model projected growth from $380 billion in 2020, excluding additional installation costs, to $585 billion by 2030.[83][86]
Market share & regions
Asia-Pacific accounted for 58.0% of air-conditioning systems revenue in 2025. Household ownership is much higher in the United States and Japan, at nearly 90%, than in India, where access remains substantially lower despite strong cooling needs.[83][84]
Segmentation
The market is segmented by product type, including package air conditioners, split systems and ductless mini-splits; by technology; and by end use across residential, commercial and industrial applications. Cooling demand also spans space cooling, industrial process cooling and refrigeration or cold-chain systems.[83][87]
Key players & concentration
China is the largest air-conditioner manufacturing base, producing around 170 million units annually and exporting about 60 million units; reported maximum manufacturing capacity is around 300 million units. These figures indicate a highly concentrated manufacturing supply chain, although the broader cooling industry includes fragmented refrigeration and service markets.[84]
Trends, drivers & challenges
Global electricity demand for space cooling reached around 2,900 TWh, 50% above 2015 levels, while 2024 global AC shipments rose to 200 million units amid exceptional heatwaves. The main challenges are grid stress, affordability, low-efficiency equipment and refrigerant emissions; under a business-as-usual pathway, cooling-related emissions could rise from 4.1 to 7.2 GtCO2e by 2050.[84][85]
Consumer behavior & competition
Cooling access is uneven: around 40% of the global population has access to air conditioning, while more than 80% experiences cooling needs during at least part of the year. In the United States and Japan, nearly 90% of households have AC, compared with substantially lower ownership in Southeast Asia and India, leaving substantial room for first-time purchases and replacement demand.[84]
Regulation
The Kigali Amendment requires a global phase-down of hydrofluorocarbons, while the U.S. EPA’s Technology Transitions rules impose lower-global-warming-potential requirements across refrigeration, air-conditioning and heat-pump subsectors. U.S. compliance dates began on January 1, 2025 for several residential, light-commercial and chiller applications, with additional restrictions extending through 2028 and later.[88][73]
Latest news
UNEP’s Global Cooling Watch 2025 report, launched at COP30, warned that global cooling capacity could more than triple by 2050 and that cooling-related emissions could rise from 4.1 GtCO2e to 7.2 GtCO2e under business as usual. The IEA reported that 2025 demand softened in several markets after the 2024 shipment surge, partly because of milder weather and unseasonal rainfall.[87][84]

02 Ranking

Top 10 Companies in the Cooling Industry

The leading companies in the cooling industry, ranked on market impact, performance, momentum, innovation and brand popularity.

Updated November 11, 2026 · Next review December 11, 2026

Verdict

Midea Group leads Gitnux's 2026 cooling ranking with an Overall score of 9.2, with 65 production centres and worldwide sales of air-treatment and refrigeration products. Johnson Controls is the highest-ranked building controls provider at 9.1, with 2.8% revenue growth and 10.8% operating margin in its HVAC, controls, and refrigeration segment.

Ranked by Overall score · How we score ↓

Editor's top 3 picks

Where to start, by need.

  1. #1 Overall · Leader in air-conditioning equipment

    Midea Group

    CN

    Ranked #1 · 9.2 · Air-conditioning equipment

    Why we picked it: It manufactures air-treatment and refrigeration products with 65 production centres serving global cooling needs.

    See in ranking ↓Visit midea.com ↗

  2. Leader in HVAC controls

    Johnson Controls

    IE

    Ranked #2 · 9.1 · HVAC controls

    Why we picked it: It sells HVAC equipment, industrial refrigeration, and building controls globally, backed by 10.8% operating margin.

    See in ranking ↓Visit johnsoncontrols.com ↗

  3. Leader in compressors & climate control

    Copeland

    US

    Ranked #4 · 8.7 · Compressors & climate control

    Why we picked it: It builds compressors and refrigeration systems for climate control across commercial refrigeration applications.

    See in ranking ↓Visit copeland.com ↗

Pick 1 is the #1 company overall. Picks 2 and 3 are the highest-ranked companies in the top 5 that add a new segment.

Full ranking

Sort by
Top 10 companies in the cooling industry, 2026 – Gitnux ranking
#CompanyOverall ↓Company snapshot
1

Midea Group

Air-conditioning equipment · CN

9.2
2

Johnson Controls

HVAC controls · IE

9.1
3

Daikin Industries

Air-conditioning equipment · JP

9.0
4

Copeland

Compressors & climate control · US

8.7
5

Carrier Global

Digital analytics for HVAC · US

8.3
6

Haier Smart Home

Residential air conditioning and refrigeration · CN

8.2
7

Bosch

Residential and commercial HVAC · DE

8.0
8

Mitsubishi Electric

Split, VRF, chiller and heat-pump systems · JP

7.8
9

LG Electronics

Residential, commercial and data-center cooling · KR

7.6
10

Panasonic Holdings

Residential and commercial HVAC systems · JP

7.5

How we score

  • Impact (30%): scale and weight in the market (revenue, market share, employees, market position).
  • Performance (20%): recent revenue growth and operating margin; an analyst assessment where a company does not publish them.
  • Momentum (20%): growth trajectory and future potential.
  • Innovation (15%): R&D intensity and how technologically advanced the company is.

Popularity (brand search demand, 15%) counts toward Overall but is not published as a column. Overall leaves out what is not known.

Scale Scores are shown on a 7–10 scale with one decimal; bars start at 7.0.

Cadence Recalculated when new figures are published; next review December 11, 2026.

Independence. Rankings are editorially independent. Scores, ranks, picks and the verdict follow the method above; no company can pay to change them.

Cite this ranking

APA

Priya Chandrasekaran. (2026, February 13). Top 10 companies in the cooling industry. In Cooling Industry Statistics. Gitnux. https://gitnux.org/cooling-industry-statistics/#top-companies

report visual · Projection

Global residential air conditioner market sales value

Global residential air conditioner market sales value grew from 819.8 RMB billion in 2022 to 873.5 RMB billion in 2023.

820 RMB billion
Start
+6.55%
CAGR · 1y
873 RMB billion
Projected
20222023
source-verifiedhkexnews.hk2027

04 Statistics

Technology & Innovation

AI use in HVAC is already measurable in estimates, quotes, invoices, billing, scheduling, and dispatch. Large-language-model studies for HVAC operations remain largely research-only.

AI in the cooling industry

  • 24% of commercial service contractors had incorporated AI into operations, and 80% of AI users reported improved performance, according to a ServiceTitan survey.[1]
  • 12% of 215 surveyed HVAC businesses had embedded AI in their processes, while 34% were experimenting with it, in a U.S. contractor survey conducted in October–November 2025.[2]
  • 63 of 66 reviewed large-language-model studies for HVAC operations were classified as research-only, with none classified as ready for immediate industry adoption.[3]
  • 5.1% of HVAC businesses used artificial intelligence, according to the 2025 HVAC Industry Pulse survey.[4]
  • 58% of HVAC businesses used AI for estimates and quotes, 57% for invoices and billing, and 40% for scheduling and dispatch, according to a recent survey.[5]
  • 82% of U.S. HVAC businesses used AI in at least one business activity, according to a recent Jobber survey conducted before 2026.[5]

Automation in the cooling industry

  • HVAC robots remained largely isolated from building-automation systems, with integrated and coordinated control still at an early stage in 2026.[6]
  • Up to 70% of hanger labor on plumbing and piping systems was reduced by an automated BIM-enabled process described in the 2022 HVAC and Sheet Metal Industry Futures Study.[7]
  • 25% of rough-in labor could consist of hanger labor, according to the 2022 HVAC and Sheet Metal Industry Futures Study.[7]
  • HVAC robot adoption remained limited by high costs, inconvenient power supply, limited awareness, and an immature supporting ecosystem, according to a 2026 review.[6]

Digital Transformation in the utilities and renewable energy sector (sector benchmark)

  • 84% of energy and utilities organizations were investing in digital modernization in 2026, while 20% had begun reorganizing engineering operations.[8]
  • 100% of utilities globally had initiated digital transformation, while 20% had completed it, according to a global survey conducted in 2024.[9]
  • 92% of energy companies planned digital technology investments, while 27% were retraining and reskilling existing employees, according to a 2024 survey.[10]
  • 73% of power and utilities companies said their organizational culture impeded digital-technology adoption in a global survey conducted in late 2024.[10]

Technology Adoption in the utilities and renewable energy sector (sector benchmark)

  • 79% of power and utilities organizations were using cyber-threat monitoring and intelligence platforms covering IT and operational technology in 2024.[10]
  • 62% of power and utilities organizations were using robotic process automation in 2024, according to a global survey of industry executives and employees.[10]
  • 73% of power and utilities organizations were using artificial intelligence, generative AI or machine learning in 2024, based on a global industry survey.[10]
  • 78% of power and utilities organizations were using advanced analytics in 2024, according to EY’s global Future of Energy Survey.[10]

Cloud Computing in the utilities and renewable energy sector (sector benchmark)

  • 41% of energy companies allowed any department head or IT manager to deploy new cloud infrastructure, software or applications in an Infosys study.[11]
  • 32% of power and utilities organizations using cloud computing planned improvements or new uses during the following five years in 2024.[10]
  • 45% of energy companies used only the cloud capacity and functions they had committed to, according to an Infosys industry study published in 2024.[11]
  • 63% of power and utilities organizations were using cloud computing while developing improvements or new applications in 2024.[10]
  • 79% of power and utilities organizations were using cloud computing in 2024, according to a global EY survey.[10]

Big Data in the utilities and renewable energy sector (sector benchmark)

  • 20% of electric utilities had already implemented big-data analytics, while 32% were implementing it, in a survey covering 10 countries.[12]
  • 41% of utilities said advanced-metering-infrastructure data was fully embedded and scalable across daily workflows in 2026.[13]
  • 86% of utilities used advanced-metering-infrastructure data enterprise-wide or in specific workflows in 2026, according to a global utility executive survey.[13]
  • 25% of utilities reported extensive use of analytics for business intelligence and billing or revenue analysis in a survey of 190 organizations.[14]
  • 78% of power and utilities organizations were using advanced analytics in 2024, a sector-specific proxy for big-data adoption in EY’s global survey.[10]

IoT in the utilities and renewable energy sector (sector benchmark)

  • 55% of utilities respondents had a formal IoT strategy in 2024, up from 48% in 2021, according to Viasat’s global sector survey.[15]
  • 75% of power and utilities organizations were using Internet of Things technologies in 2024, according to a global EY survey.[10]

05 Statistics

Data & Analytics

Connected HVAC analytics show concrete telemetry volumes, including 9.6 million records per day and 100,000 data points analyzed across connected estates. Data governance maturity still varies across utilities.

Business intelligence in the cooling industry

  • Approximately $1.2 billion of first-quarter revenue came from Johnson Controls connected devices in the cited 2023 earnings presentation.[16]
  • $65,000 in annual energy-cost avoidance was achieved by a public university in Georgia using Johnson Controls OpenBlue analytics.[17]
  • 6% to 7% energy and fuel-cost savings were estimated by Cold Spring Harbor Laboratory from building-level metering and OpenBlue analytics.[17]
  • 40% of commercial-building energy consumption and 70% of commercial-building electricity consumption can typically be attributable to HVAC, according to Johnson Controls’ equipment-performance material.[17]
  • 100,000 data points from HVAC, temperature, humidity, and lighting systems were analyzed by Carrier Abound across approximately 18,500 connected units.[18]
  • 4% first-year energy reduction was targeted by Carrier’s AI-enabled Abound platform across a national specialty-retailer network.[18]

Data analytics in the cooling industry

  • 9.6 million records per day were processed by Carrier Abound for a retailer’s connected HVAC and building systems.[18]
  • 18,500 connected equipment units supplied data to Carrier Abound across the retailer’s national store network.[18]
  • 6.5% energy reduction was targeted by Carrier Abound in the cited retailer case through correlations among weather, maintenance, billing, and HVAC data.[18]
  • 100,000 data points were analyzed by Carrier Abound across HVAC, temperature, humidity, and lighting systems.[18]

Data Quality in the utilities and renewable energy sector (sector benchmark)

  • Across water utilities, 8% of respondents rated asset O&M cost information as very good in 2026.[19]
  • Across electric utilities surveyed, 77% reported no erosion in data quality over time.[20]
  • Across water utilities, 10% of respondents rated asset condition and performance information as very good in 2026.[19]
  • Across electric utilities surveyed, 69% reported user confidence in data accuracy, compared with 77% for completeness.[20]
  • Across water utilities, 7% of respondents rated asset information in EAM or CMMS as very good in 2026.[19]
  • Across water utilities, 19% of respondents rated asset characteristics information as very good in 2026.[19]

Data Governance in the utilities and renewable energy sector (sector benchmark)

  • Across utilities surveyed, 9% had fully implemented an enterprise-wide data-governance program in 2020.[21]
  • Across utilities surveyed, 56% had some form of inventory covering data sources and data-quality, integration, and analytics tools in 2020.[21]
  • Across utilities surveyed, 50% estimated they were still three to five years away from enterprise-level data governance in 2020.[21]
  • Across power and utility executives surveyed, 57% assessed data-governance maturity as developing or initial in 2021; none reported advanced practices.[10]
  • Across utilities surveyed, 6% reported fully traceable data from original source to decision-making or business processes in 2020.[21]
  • Across energy and utilities organizations, 65% reported that all or nearly all of their data was governed in 2026.[22]

KPIs in the cooling industry

  • 6% to 7% was Cold Spring Harbor Laboratory’s expected utility-cost KPI from connected building metering and OpenBlue analytics.[17]
  • 4% was Carrier Abound’s targeted first-year energy-consumption KPI for a national specialty-retailer network.[18]

06 Statistics

Strategy & Growth

Cooling operators show growth through bookings, regional sales, and partnerships. For example, Daikin’s 2025 U.S. sales rose to 1.636 trillion yen.

Growth in the cooling industry

  • Trane Technologies’ global Commercial HVAC fourth-quarter 2025 book-to-bill ratio was 114%.[23]
  • Carrier’s 2025 sales were $21.75 billion, with global commercial HVAC and aftermarket both growing double digits.[24]
  • Trane Technologies reported $5.8 billion of fourth-quarter 2025 bookings, up 24% year over year.[23]
  • Daikin’s 2025/3 United States sales rose to 1.636 trillion yen from 1.4744 trillion yen in 2024/3.[25]
  • Carrier’s 2024 sales increased 19% to $22.5 billion, including a 16% impact from acquisitions and divestitures.[26]
  • Carrier’s HVAC segment sales grew 11% organically in 2024.[26]

Differentiation in the cooling industry

  • Trane and Eaton’s 2026 integrated data-center design targeted up to 15% higher energy efficiency.[23]
  • Trane and Eaton’s 2026 design targeted installation-cost reductions of up to 30%.[23]
  • Daikin operated 39 development bases to create regionally suited air-conditioning products.[25]
  • Trane and Eaton’s 2026 design targeted copper-use reductions of up to 80%.[23]

Mergers and acquisitions in the cooling industry

  • HVAC/R announced deal value reached $13.48 billion in the fourth quarter of 2025.[27]
  • Johnson Controls acquired M&M Carnot and Danfoss acquired BOCK GmbH among notable industrial refrigeration transactions in 2024.[28]
  • HVAC/R deal activity reached 72 closed transactions in the fourth quarter of 2025.[27]
  • Sterling Infrastructure acquired CEC Facilities Group for $589 million in 2025.[27]
  • Gamut Capital acquired Airtron Heating & Air from NRG Energy for a reported $500 million in 2024.[29]
  • Samsung Electronics acquired FläktGroup for $1.8 billion in a notable 2025 HVAC/R transaction.[27]

Strategic partnerships in the cooling industry

  • Daikin and Copeland expanded their joint venture into Europe in December 2025 for residential heat-pump compressors.[25]
  • Daikin’s 2025 industry-partnership portfolio included an AiCT Consortium collaboration launched in 2023 for EV-and-air-conditioning energy management.[25]
  • Daikin and Hitachi’s factory AI diagnostic trial targeted accuracy above 90%.[25]
  • Daikin and Copeland announced a U.S. inverter-compressor joint venture in November 2024, expected to operate in the first half of 2025.[25]
  • Carrier and Montana Technologies agreed in 2024 to develop and commercialize AirJoule dehumidification and cooling technology.[24]
  • Daikin and Asuene focused their 2025 collaboration on global markets including North America and Japan.[25]

07 Statistics

People & Workforce

Workforce availability remains a gating factor, with projected U.S. hiring demand for installers and technicians over 2022–2032. Hiring lead times for experienced technicians average 9–20 weeks.

Hiring in the cooling industry

  • 6% growth was projected for U.S. heating, air-conditioning, and refrigeration mechanic and installer employment from 2022 to 2032.[1]
  • 9–20 weeks was the average time reported for U.S. HVAC contractors to hire an experienced service technician.[30]
  • 1.8 HVAC technician jobs were estimated to be available for every U.S. job applicant within five years, according to an EGIA Foundation workforce presentation.[31]
  • 4–12 weeks was the average time reported for U.S. HVAC contractors to hire an entry-level apprentice.[30]
  • 37,700 HVAC and refrigeration mechanic and installer openings were projected annually in the United States over 2022–2032.[1]

Employee retention in the cooling industry

  • HVAC technician was ranked among the positions with retention difficulty in a 2024 U.S. weatherization workforce survey, with departures linked to wages and limited career paths.[32]
  • Experienced-worker shortages were reported to be forcing California HVAC companies to work harder to retain employees, according to a 2025 market-characterization report.[33]
  • Retrofit installer technician was rated the most difficult position to retain in a 2024 U.S. weatherization workforce survey that included HVAC technicians.[32]

Remote Work in the utilities and renewable energy sector (sector benchmark)

  • U.S. utilities employees worked 22.32% of paid days from home in 2026.[34]
  • U.S. utilities employees worked 31.42% of paid days from home in 2024.[34]
  • Among U.S. utility employers recruiting new graduates, 9.3% of positions were fully remote in 2024.[35]
  • Across U.S. utilities, 18.2% of employees worked fully remotely in November 2024.[36]

Hybrid Work in the utilities and renewable energy sector (sector benchmark)

  • Across U.S. utilities, 51% of full-time employees worked either hybrid or fully from home during September–December 2024.[37]
  • Across U.S. utilities, 32.5% of employees worked in hybrid arrangements in November 2024.[36]
  • Among U.S. utility employers recruiting new graduates, 43.4% of positions were fully hybrid in 2024.[35]
  • U.S. utilities had 28% of full-time employees in hybrid arrangements during September–December 2024.[37]

Upskilling in the cooling industry

  • $13 million was awarded to a California sheet-metal workforce partnership to expand training capacity and develop heat-pump curricula and equipment.[33]
  • 23% of apprentices were reported as more likely to use AI for tasks such as estimating, highlighting an HVAC training need identified in a contractor survey.[1]
  • More than 2,000 approved applicants were waiting to enter California’s sheet-metal workforce before a 2024–2026 training-capacity investment.[33]
  • 12 regional training centers or joint apprenticeship and training committees operated in California to support sheet-metal and HVAC workforce development.[33]

Employee Engagement in the utilities and renewable energy sector (sector benchmark)

  • Across U.S. utilities, 70% of employees were engaged in the July 2025–June 2026 benchmark period.[38]
  • Among frontline energy and utilities workers, 57% said workplace communication tools were designed for desk workers rather than them in 2025.[39]
  • At Southern California Edison, 82% of employees gave a favorable overall engagement response in 2022.[40]
  • Among U.S. energy and utility organizations, 54% reported that frontline disengagement affected productivity in 2023.[41]

DEI in the cooling industry

  • 76.1% of workers in the U.S. water, steam, air-conditioning, and irrigation-systems industry were men in 2024.[42]
  • 98.3% of U.S. heating, air-conditioning, and refrigeration mechanics and installers were men in 2024, according to occupational workforce data.[42]
  • 2% of HVACR employees were women according to an HVAC industry report cited by ACHR News.[1]
  • 69.1% of workers in the U.S. water, steam, air-conditioning, and irrigation-systems industry were White in 2024.[42]
  • 23.9% of workers in the U.S. water, steam, air-conditioning, and irrigation-systems industry were women in 2024.[42]

Change Management in the utilities and renewable energy sector (sector benchmark)

  • Only 15% of utility companies said they were leaders in actively listening to employees in 2020.[43]

08 Statistics

Customer & Sales

Service experience and response time show up in adoption signals, including 74% expecting service within 24 hours in 2025. Repeat customers drive 51% of U.S. HVAC businesses’ new business in 2026.

Customer experience in the cooling industry

  • 92% of repeat California heat-pump respondents rated their investment value good or great in 2025.[44]
  • 94.9% of U.S. homeowners were at least somewhat satisfied with their most recent HVAC service experience in 2025.[45]
  • 93% of new California heat-pump respondents rated their investment value good or great in 2025.[44]
  • 74% of U.S. HVAC customers expected service within 24 hours when their heating or air-conditioning system was out in 2025.[46]
  • 81% of ductless heat-pump customers were very satisfied with their systems in California in 2025.[44]

Customer retention in the cooling industry

  • 40% of HVAC and plumbing buyers contacted a previous provider first when they needed home services in 2021.[1]
  • 57.7% of U.S. HVAC contractor homepages mentioned a maintenance plan, service agreement or membership club in November 2026.[46]
  • 84% of U.S. HVAC customers mostly or completely trusted their technician not to oversell in 2025.[46]
  • 17.7% of U.S. HVAC contractor homepages combined a video feature with a maintenance plan in November 2026.[46]
  • 51% of U.S. HVAC businesses said repeat customers were their top source of new business in 2026.[5]

Customer acquisition in the cooling industry

  • 7.7% of U.S. homeowners found their latest HVAC company through online reviews or a home-services app in 2025.[45]
  • 44% of U.S. HVAC businesses reported word-of-mouth referrals as a source of paying customers in 2026.[5]
  • 1.8% of U.S. homeowners selected their latest HVAC company because of an advertisement or promotion in 2025.[45]
  • 50% of U.S. heat-pump customers specifically asked for heat pumps in 2024.[47]
  • 17.0% of U.S. homeowners found their latest HVAC company through online search in 2025.[45]

Customer loyalty in the cooling industry

  • 58% of U.S. homeowners chose the contractor before the HVAC equipment brand in early 2025.[46]
  • 56% of HVAC and plumbing buyers read reviews on Google in a 2024 U.S. survey.[48]
  • 51% of HVAC and plumbing buyers read reviews on contractor websites in a 2024 U.S. survey.[48]
  • 43% of HVAC and plumbing buyers read reviews on Yelp in a 2024 U.S. survey.[48]
  • 36% of HVAC and plumbing buyers read reviews on Facebook in a 2024 U.S. survey.[48]

Lead generation in the cooling industry

  • 36% of U.S. HVAC businesses identified Google Search as a source of paying customers in 2026.[5]
  • 78% of U.S. HVAC businesses responded to new leads on the same day in 2026.[5]
  • 21% of U.S. HVAC businesses identified Google Local Services Ads as a source of paying customers in 2026.[5]
  • 17% of U.S. HVAC businesses responded to new leads within the first hour in 2026.[5]
  • 31% of U.S. HVAC businesses won more than 70% of the quotes they sent in 2026.[5]

09 Statistics

Marketing & Brand

Marketing spend concentrates around paid-search and tracked lead economics. In 2026, 71% of HVAC businesses ran paid-search advertising and 66% tracked cost per lead.

Marketing in the cooling industry

  • 74% of HVAC businesses used email marketing in 2023.[49]
  • 52% of HVAC businesses used referral programs in 2023.[49]
  • 60% of U.S. HVAC businesses planned to increase social-media investment over the following 12 months in 2026.[50]
  • 62% of U.S. HVAC businesses spent more than $1,500 per month on marketing in 2026.[50]
  • 44% of HVAC businesses used print advertising in local newspapers or magazines in 2023.[49]

Digital marketing in the cooling industry

  • 54.4% of U.S. plumbers and HVAC advertisers' local advertising spend was forecast to be digital in 2027.[51]
  • 71% of U.S. HVAC businesses ran paid-search advertising in 2026.[50]
  • 81% of U.S. HVAC businesses enabled customers to text their business phone number in 2026.[50]
  • 66% of U.S. HVAC businesses closely tracked cost per lead in 2026.[50]
  • $1.1 billion was forecast for U.S. plumbers' and HVAC advertisers' digital advertising spend in 2024.[51]

Branding in the cooling industry

  • 78% of U.S. consumers were aware of GE appliances in YouGov's 2024–2025 brand tracking period.[52]
  • 91% of U.S. consumers were aware of LG appliances in YouGov's 2024–2025 brand tracking period.[52]
  • 85% of U.S. consumers were aware of Whirlpool appliances in YouGov's 2024–2025 brand tracking period.[52]
  • 49% was Samsung's consideration-to-purchase-intent conversion rate among U.S. appliance consumers in 2024–2025.[52]
  • 47% was Samsung's awareness-to-consideration conversion rate among U.S. appliance consumers in 2024–2025.[52]

Social media in the cooling industry

  • 4.9% of U.S. HVAC contractor homepages linked to TikTok in November 2026.[46]
  • 79.3% of U.S. HVAC contractor homepages linked to at least one social profile in November 2026.[46]
  • 22.3% of U.S. HVAC contractor homepages linked to X in November 2026.[46]
  • 35.4% of U.S. HVAC contractor homepages linked to Instagram in November 2026.[46]
  • 19.7% of U.S. HVAC contractor homepages linked to LinkedIn in November 2026.[46]

Influencer Marketing in the utilities and renewable energy sector (sector benchmark)

  • Across B2B companies, influencer marketing was associated with a 39-percentage-point advantage in brand-awareness goal attainment in 2025.[53]
  • Across B2B companies, authenticity and credibility were the top influencer-selection criteria for 58% of marketers in 2025.[53]
  • Across B2B companies, 28% of marketers ranked thought leaders or industry analysts as the most effective influencer type in 2025.[53]
  • Across B2B companies, 76% of marketing leaders believed creator collaborations build brand authenticity in 2025.[53]
  • Across B2B companies, 55% were using influencers in 2025, while another 29% planned to adopt influencer marketing within the following year.[53]

10 Statistics

Operations & Execution

Operational performance and warranty exposure remain measurable, including a 0.93% average HVAC warranty-claims rate among U.S. manufacturers in 2025. Carrier also reported nearly 200% growth in data-center orders in 2024.

Process optimization in the cooling industry

  • 8 months to 1 year was the estimated lead time for compressor manufacturers to expand capacity sufficiently for new U.S. variable-speed-compressor demand.[54]
  • 60 basis points of SG&A benefit was attributed to productivity-driven cost savings in a 2024 cooling-equipment annual report.[55]
  • 250 basis points of fourth-quarter operating-margin expansion was reported by Carrier in 2024, reflecting productivity and operational improvements.[56]
  • 7 million additional variable-speed compressors per year were added to global production capacity between 2018 and 2022, according to the U.S. Department of Energy.[54]
  • Nearly 200% growth in data-center orders was achieved by Carrier in 2024, increasing utilization of its commercial HVAC operating platform.[56]

Operational efficiency in the cooling industry

  • 26.6% gross margin was reported by Carrier for 2024 on $22.486 billion of sales.[57]
  • 0.93% was the average HVAC warranty-claims rate among U.S. manufacturers in 2025, indicating the industry’s reported product-service burden.[58]
  • 28.0% gross margin was achieved by Watsco in 2025, a record level attributed partly to pricing optimization and improved operating efficiency.[59]
  • $970 million in warranty accruals was recorded by U.S.-based HVAC manufacturers in 2025.[58]
  • 11% lower SG&A expense was reported by Watsco in the fourth quarter of 2025, reflecting efficiency gains in distribution operations.[59]

Quality management in the cooling industry

  • $109 million in warranty claims was paid by Johnson Controls in 2025.[58]
  • 0.93% was the average HVAC warranty-claims rate in the United States during 2024.[58]
  • 59% of surveyed HVAC professionals rated warranty as a very important factor when selecting an equipment brand in 2025.[60]
  • $214 million in warranty claims was paid by Trane Technologies in 2025.[58]
  • 1.10% was the average HVAC warranty-accrual rate in the United States during 2024.[58]

Supply chain in the cooling industry

  • $625 million of Carrier’s 2024 inventory consisted of raw materials at year-end.[56]
  • 33% of the U.S. refrigerator market was estimated to use variable-speed compressors in the Department of Energy’s assessment.[54]
  • More than 400 million compressors represented estimated global compressor production capacity in the Department of Energy’s 2024 assessment.[54]
  • $2.299 billion was Carrier’s net inventory balance at December 31, 2024, including raw materials, work-in-process and finished goods.[56]
  • 25% of the global refrigerator market was estimated to use variable-speed compressors in the Department of Energy’s assessment.[54]

Outsourcing / Offshoring in the utilities and renewable energy sector (sector benchmark)

  • 88% of power and utilities executives surveyed planned to rely more on vendors and contractors than previously, in a 2025 global energy survey.[10]
  • 68.4% of U.S. utilities surveyed outsourced bill printing in 2026, based on responses from 95 utilities across 18 states.[61]
  • 40% of U.S. power and utilities executives surveyed said they would outsource some business functions to external contractors, according to a 2025 survey.[10]
  • Approximately 45% of electric transmission, distribution and gas distribution work was outsourced in 2024, projected to exceed 50% over the following five years.[62]
  • 55% of surveyed solar OEMs, technicians and installers across the United States, United Kingdom, Germany and Spain outsourced most solar maintenance in 2025.[63]

11 Statistics

Finance & Pricing

Pricing and warranty drive brand switching, with 62% of HVAC professionals citing better pricing. Watsco reported 120 basis points of gross-margin expansion in 2025.

Pricing strategy in the cooling industry

  • 62% of surveyed HVAC professionals cited better pricing as a reason they would change their primary residential equipment brand.[64]
  • 4% higher pricing contributed to sales growth in a 2024 annual report from a cooling-equipment company.[55]
  • 42% of surveyed HVAC professionals cited a better warranty as a reason they would change their primary residential equipment brand.[64]
  • 3% organic sales growth was reported by Carrier in 2024 alongside pricing improvements and productivity initiatives.[56]
  • 120 basis points of gross-margin expansion was reported by Watsco in 2025, driven partly by pricing-optimization technology and OEM pricing actions.[59]

Cost reduction in the cooling industry

  • 2% was the year-over-year reduction in Watsco’s SG&A expense during the fourth quarter of 2025.[59]
  • $819 million was Carrier’s year-over-year increase in gross margin in 2024, attributed to demand, pricing improvements and productivity initiatives.[57]
  • 60 basis points of SG&A savings was attributed to productivity initiatives in a 2024 cooling-equipment annual report.[55]
  • 300 technologists supported Watsco’s technology platform in 2025, according to the company’s operating update.[59]
  • $250 million was Watsco’s technology investment during the five years through 2025, supporting pricing and distribution efficiencies.[59]

Profitability in the cooling industry

  • $22.486 billion was Carrier’s consolidated sales in 2024.[65]
  • 2.5% to 5% was the reported average profit-margin range for HVAC businesses in a 2024 industry analysis.[66]
  • 26.6% was Carrier’s gross margin as a percentage of sales in 2024.[57]
  • 15.8% was Carrier’s adjusted operating margin in 2025, according to its reported annual results.[67]
  • $5.981 billion was Carrier’s gross margin in 2024.[57]

Financial planning in the cooling industry

  • $0.7 billion of Carrier’s 2024 shareholder distributions came from dividends.[56]
  • $2.6 billion was returned to Carrier shareholders in 2024 through dividends and share repurchases.[56]
  • $686 million was Carrier’s research-and-development expense in 2024.[65]
  • $12 billion was the enterprise value of Carrier’s acquisition of Viessmann Climate Solutions.[56]
  • $3.197 billion was Carrier’s selling, general and administrative expense in 2024.[65]

12 Statistics

Product & Service

Product refresh and efficiency targets show up in recent sales mixes, including 56% of Lennox 2024 revenue from highly efficient core products in the U.S. Key service metrics include Daikin’s 4.67 out of 5 satisfaction for after-sales service in 2023.

Product development in the cooling industry

  • 48% of Lennox 2024 sales came from products launched during the previous three years, measured by its Product Vitality Index.[68]
  • 56% of Lennox 2024 revenue came from highly efficient core products exceeding minimum U.S. energy-efficiency standards.[68]
  • 63% of Lennox 2024 building-climate-solutions revenue came from highly efficient products in the United States.[68]
  • $93.6 million was allocated by Lennox in 2024 to develop more efficient heating, cooling, and refrigeration products and services in the United States.[68]
  • 53% of Lennox 2024 home-comfort-solutions revenue came from highly efficient products in the United States.[68]

Product lifecycle in the cooling industry

  • More than 1,600 dedicated R&D personnel supported full-lifecycle air-conditioner management at the company described in its March 2025 filing.[69]
  • 1,299 packaged-unit positions were estimated per 1,000 commercial buildings in the cited U.S. installed-base model.[70]
  • Air-conditioner product upgrades were scheduled annually and major innovations every two years by the company described in its March 2025 filing.[69]
  • 12,000 registered patents had been obtained by the air-conditioning company described in its March 2025 filing, supporting product development from planning through phase-out.[69]
  • 21.4 years was the average product lifetime adopted by the U.S. Department of Energy for consumer furnace rulemaking, with regional averages of 22.5 years in the North and 20.2 years elsewhere.[71]

After-sales in the cooling industry

  • 1.096 million total inquiries were handled by Daikin’s China contact center in 2023.[25]
  • 589,000 technical-advice inquiries were handled by Daikin’s contact centers in 2023.[25]
  • 4.67 out of 5 was Daikin’s average customer satisfaction score for after-sales service in 2023.[25]
  • 1.10% was the average HVAC-manufacturer warranty accrual rate in the United States in 2025.[58]
  • 176,000 parts inquiries were handled by Daikin’s contact centers in 2023.[25]

Value proposition in the cooling industry

  • 9.6 million records were processed daily by Carrier Abound for approximately 100,000 data points across the retailer’s connected equipment estate.[18]
  • 6% to 7% was Cold Spring Harbor Laboratory’s estimated reduction in electricity, natural-gas, and fuel costs from OpenBlue.[17]
  • $5 million was Cold Spring Harbor Laboratory’s approximate annual utility-cost base used to assess OpenBlue’s value proposition.[17]
  • 67% was the estimated reduction in chiller maintenance costs for the composite organization after adopting OpenBlue.[17]
  • 4% was Carrier Abound’s targeted first-year energy-consumption reduction for a national U.S. specialty-retailer network while maintaining occupant comfort.[18]

13 Statistics

Sustainability & Ethics

Operational electricity sourcing and reported CO2 reductions are tracked alongside ethics training. Trane Technologies reported 84% renewable electricity in 2025, and 100% of Carrier employees complete annual ethics and compliance training globally.

Sustainability in the cooling industry

  • 84% of Trane Technologies’ electricity came from renewable sources in 2025 globally.[23]
  • 38% of Carrier’s U.S. residential HVAC sales in 2024 met ENERGY STAR efficiency metrics.[72]
  • 50% of Carrier revenue in 2024 came from products and services supporting energy efficiency or greenhouse-gas reduction globally.[72]
  • 331 million metric tons of customer CO2e reductions were reported by Trane Technologies in 2025 globally.[23]
  • 632 million metric tons of greenhouse-gas emissions were avoided by Carrier customers since 2020, reported globally for 2025.[24]

ESG in the cooling industry

  • $10.1 million was donated by Carrier to communities in 2025 through cash, in-kind donations and matching gifts globally.[24]
  • 39% of Carrier’s electricity consumption came from renewable sources in 2025 globally.[24]
  • 27,000 or more employee volunteer hours were logged by Carrier in 2025 globally.[24]
  • 75 was Carrier’s global employee-inclusion score in 2025.[24]
  • 76 was Carrier’s global employee-engagement score in 2025.[24]

Ethics in the cooling industry

  • 15,828 corrective-action items resulted from Johnson Controls supplier assessments through 2023 globally.[17]
  • 2,111 Johnson Controls supplier assessments had been completed since 2018, covering environment, labor, human rights, ethics and sustainable procurement.[17]
  • 20,874 or more Johnson Controls employees linked their annual goals to sustainability in 2024.[17]
  • 100% of Carrier employees are required to complete annual ethics and compliance training globally.[72]

CSR in the cooling industry

  • 91% of Four Seasons Produce’s waste was diverted from landfill in 2024 at its refrigerated facility.[23]
  • 2 million kWh or more of electricity is saved annually by Four Seasons Produce’s refrigerated warehouse after Trane controls upgrades.[23]
  • 43 million metric tons of CO2e had been avoided by Johnson Controls performance-contracting projects since 2000.[17]
  • 4.2 million kWh of annual energy savings were guaranteed for Dubai Silicon Oasis by Johnson Controls in 2023.[17]
  • 30% lower carbon emissions were achieved at Dubai Silicon Oasis through Johnson Controls’ HVAC and building-efficiency project.[17]

Circular economy in the cooling industry

  • 500,000 residential air conditioners were collected by Daikin in 2023 in Japan.[25]
  • 91% was Daikin’s residential-air-conditioner recycling ratio in Japan in 2023.[25]
  • 20,276 tons of residential air-conditioner products were recycled or reused by Daikin in 2023 in Japan.[25]
  • 650,000 metric tons of CO2e-equivalent fluorocarbons were recovered from recycled residential air conditioners by Daikin in 2023.[25]
  • 395 tons of CO2 emissions were reduced by Daikin packaging improvements for air-conditioning products in 2023.[25]

Carbon footprint in the cooling industry

  • 22.9 million metric tons CO2e came from U.S. mobile air conditioning in 2021.[73]
  • 7.3 million metric tons CO2e came from U.S. commercial stationary air conditioning in 2021.[73]
  • 41.0 million metric tons CO2e came from U.S. commercial refrigeration in 2021.[73]
  • 700 million metric tons CO2e per year were associated globally with stationary air conditioning in the U.S. Department of Energy’s assessment.[74]
  • 139.1 million metric tons CO2e were emitted by U.S. refrigeration and air-conditioning end uses in 2021.[73]

15 Statistics

Globalization & Expansion

International manufacturing and subsidiary footprints scale market presence, with Daikin supported by 130+ global production locations as of 2025. Daikin also reported 85% of overall sales from overseas markets.

Globalization in the cooling industry

  • 130+ global production locations support Daikin’s air-conditioning business as of 2025.[25]
  • 170+ countries sold Daikin products in fiscal year 2023, spanning Europe, China, Asia-Oceania, the Americas and other markets.[25]
  • $1.636 trillion yen was Daikin’s 2025/3 sales in the United States region.[25]
  • 85% of Daikin’s overall sales came from overseas markets in the latest company profile.[25]
  • $780.1 billion yen was Daikin’s 2025/3 sales in Europe.[25]

Cultural adaptation in the cooling industry

  • 65 consolidated subsidiaries and 9 global R&D centers were reported for Daikin’s Asia-Oceania region in 2025/3.[25]
  • 28 countries hosted Daikin production bases supporting market-localized production in fiscal year 2025.[25]
  • 75 consolidated subsidiaries and 11 global R&D centers were reported for Daikin’s United States region in 2025/3.[25]
  • Seven million residential air conditioners represented India’s market scale in 2023, with Daikin projecting 50 million units by 2035.[25]
  • 39 development bases operate across China, Europe and North America to create products suited to regional cultures and values.[25]

Supplier management in the cooling industry

  • Daikin and Rechi Precision planned an Indian compressor joint venture targeting operations by the end of fiscal year 2025.[25]
  • Daikin’s investment in Miura totaled 9.5 billion yen under the 2024 partnership arrangement.[25]
  • Daikin invested in Miura and acquired 4.67% of Miura’s outstanding shares in their 2024 partnership.[25]
  • Copeland held a majority share in the Daikin-Copeland U.S. joint venture announced in 2024.[25]
  • Carrier conditionally committed $10 million in growth equity to Montana Technologies to commercialize AirJoule cooling technology.[24]

Stakeholder management in the cooling industry

  • Approximately 96,000 people worked for the Daikin Group in fiscal year 2023.[25]
  • 13,435 Daikin employees were based in Japan in fiscal year 2023.[25]
  • Daikin planned to begin training Senegalese air-conditioning after-sales personnel in 2026.[25]
  • 22,966 Daikin employees were based in the Americas in fiscal year 2023.[25]
  • 20,599 Daikin employees were based in China in fiscal year 2023.[25]

Distribution channels in the cooling industry

  • 82% of U.S. residential HVAC contractor purchases flowed through wholesale distribution in the 2024 HARDI survey.[82]
  • 51% of residential HVAC contractors obtained product information from webinars or virtual events in a 2025 survey.[1]
  • 63% of U.S. nonresidential HVAC contractor purchases flowed through wholesale distribution in the 2024 HARDI survey.[82]
  • 60% of residential HVAC contractors obtained product information from trade shows or industry conferences in a 2025 survey.[1]
  • Four HVACR distributors reported more than $1 billion each in 2024 sales in the 2025 Top 30 distributor ranking.[60]

Key questions about the Cooling Industry

What is the current size of the air-conditioning systems market?
The air-conditioning systems market was valued at $105.1 billion in 2025.
How fast is the air-conditioning systems market expected to grow?
The market is forecast to reach $183.0 billion by 2033, implying a 7.2% CAGR from 2026 to 2033.
Which companies lead the cooling industry?
Midea Group leads Gitnux's 2026 cooling ranking with an Overall score of 9.2, with 65 production centres and worldwide sales of air-treatment and refrigeration products. Johnson Controls is the highest-ranked building controls provider at 9.1, with 2.8% revenue growth and 10.8% operating margin in its HVAC, controls, and refrigeration segment.
What technology shift is showing up in HVAC operations and installation workflows?
AI adoption is expanding in HVAC operations: 5.1% of HVAC businesses used artificial intelligence, while 58% used AI for estimates and quotes.
How concentrated is the cooling manufacturing supply chain?
China is the largest air-conditioner manufacturing base, producing around 170 million units annually and exporting about 60 million units, with reported maximum manufacturing capacity around 300 million units.
How do emissions and regulation affect cooling plans?
Cooling emissions were 4.1 GtCO2e in 2022, and the Kigali Amendment requires a global phase-down of hydrofluorocarbons; U.S. EPA Technology Transitions impose lower-GWP requirements.
Reference

Cite This Report

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APA
Priya Chandrasekaran. (2026, February 13). Cooling Industry Statistics. Gitnux. https://gitnux.org/cooling-industry-statistics
MLA
Priya Chandrasekaran. "Cooling Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/cooling-industry-statistics.
Chicago
Priya Chandrasekaran. 2026. "Cooling Industry Statistics." Gitnux. https://gitnux.org/cooling-industry-statistics.

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