Global Hvac Industry Statistics

In this post, we will explore the latest statistics and trends in the global HVAC industry. From market size and growth projections to key players and sector breakdowns, we’ll dive into the numbers shaping this essential sector. Explore how regions like North America, Europe, and Asia Pacific are driving growth, and learn about the significant role of residential and commercial applications in the HVAC market. Let’s analyze the data and insights that paint a comprehensive picture of this dynamic industry.

Statistic 1

"The global HVAC systems market size was valued at USD 130.5 billion in 2019."

Statistic 2

"HVAC systems market growth is expected to reach USD 191.4 billion by 2027."

Statistic 3

"The HVAC market is predicted to grow at a CAGR of approximately 3.1% between 2020 and 2027."

Statistic 4

"North America accounted for the second largest revenue share in 2019 in the HVAC systems market."

Statistic 5

"Europe HVAC systems market is also expected to show a steady growth rate due to the presence of robust construction industry."

Statistic 6

"Asia Pacific HVAC market is expected to grow fastest due to rapid growth in construction and urbanization in emerging economies."

Statistic 7

"Split systems accounted for the largest share of more than 76.0% of the total revenue in 2019 in HVAC market."

Statistic 8

"Ventilation product category of HVAC market likely to register a CAGR of 3.4% from 2020 to 2027."

Statistic 9

"Commercial application sector in HVAC market held dominant share of over 46.5% in 2019."

Statistic 10

"Residential HVAC market accounted for more than 40% of overall industry revenue in 2019."

Statistic 11

"HVAC maintenance segment is forecasted to witness the fastest growth over the forecast period."

Statistic 12

"Nearly 130 million HVAC units shipped globally in 2020."

Statistic 13

"The total number of HVAC units shipped globally is projected to reach 151 million by 2024."

Statistic 14

"The residential sector accounts for over half of the total HVAC market share."

Statistic 15

"Daikin Industries was the major player in the global HVAC market in 2020."

Statistic 16

"Approximately 45% of the energy used in residential buildings goes towards HVAC systems."

Statistic 17

"The HVAC industry employs over a million people worldwide."

In conclusion, the global HVAC industry is experiencing robust growth with a steady increase in market size and revenue projections. Regions such as North America, Europe, and Asia Pacific are key drivers of this expansion, fueled by factors such as construction industry strength and urbanization trends. Market segments like split systems, ventilation products, and commercial applications are seeing significant shares and growth rates. With a surge in HVAC unit shipments and maintenance segments, the industry is poised for continued development and innovation. Notable players like Daikin Industries are leading the market, while the sector’s significant energy usage and extensive employment opportunities underscore its importance in the global economy.