The HVAC industry is one of the most important industries in the world, providing heating, ventilation, and air conditioning services to millions of homes and businesses. As such, it is important to stay up to date on the latest HVAC industry statistics.
In this blog post, we will explore the current state of the HVAC industry, including the size of the market, the types of services offered, and the trends that are driving the industry forward. We will also look at the impact of technology on the industry and the potential for growth in the future. By the end of this post, you will have a better understanding of the HVAC industry and the potential opportunities it presents.
HVAC Industry: The Most Important Statistics
Sales of chillers in the Middle East and Africa, Asia and Oceania, and Europe increased by over 9%, almost 9%, and less than 9%, respectively, between 2021 and 2022.
The HVAC market is projected to grow to 1.48 billion U.S. dollars by 2026, with Italy as the largest market and the UK, Ireland, Spain, and Germany following closely behind.
HVAC Industry Statistics Overview
The residential HVAC industry in the US is projected to grow 5% in 2019, which is important for the industry’s growth and stability. The HVAC industry in Asia was valued at 114.36 billion US dollars in 2017.
Thus, the size of the HVAC industry in Asia one of the largest markets in the world.
The global HVAC market is projected to reach 367.5 billion US dollars by 2030, with a CAGR of 3.9 percent between 2020 and 2030 and 151.1 million units by 2024.
This shows the growth of the HVAC market, which is likely due to the growth in the construction sector. It also indicates that the HVAC industry is likely to remain strong and profitable in the coming years.
The global market size for the HVAC industry in 2017 was 97.8 billion US dollars, with split systems accounting for the majority of the market.
The Chinese Gree Group was the largest steam and air conditioning supply company in the world in 2021, with a revenue of nearly 30 billion U.S. dollars, followed by Gree Electric Appliances (China), Daikin Industries (Japan), and Carr’S Group (United States), all with revenues over 20 billion U.S. dollars.
The Chinese Gree Group is the largest player in the market, followed by other major players such as Gree Electric Appliances, Daikin Industries, and Carr’S Group. This information can be used to inform decisions about investment in the industry, as well as to provide a benchmark for the performance of other companies in the market.
California had the most plumbing and HVAC contractor establishments in 2019 with 10,585.
Therefore, California had the most establishments in 2019, indicating that there is a large market for HVAC services in the US.
Sales of chillers in the Middle East and Africa, Asia and Oceania, and Europe increased by over 9%, almost 9%, and less than 9%, respectively, between 2021 and 2022.
In 2019, rotary compressors were the most popular type of refrigerator compressor sold globally, with 130 million sold in China, while scroll compressors were more popular in the US, with 8 million sold.
This demonstrates that different types of compressors are more popular in different countries, and that the rotary compressor market is growing faster than any other type of compressor.
Pipe insulation is expected to have the highest annual growth rate (7.4%) from 2020 to 2026 in the HVAC and fire protection insulation market.
Thus, pipe insulation is the most promising application within the HVAC and fire protection insulation market.
The HVAC market is projected to grow to 1.48 billion U.S. dollars by 2026, with Italy as the largest market and the UK, Ireland, Spain, and Germany following closely behind.
This growth is important for the HVAC industry as it indicates an increasing demand for HVAC products and services.
Supplementary Statistics
The global HVAC market is expected to reach $367.5 billion by 2030.
This is a valuable piece of information for anyone interested in the HVAC industry, as it provides an insight into the growth of the market and the opportunities that it presents.
The HVAC industry in the U.S. is forecast to grow at a CAGR (Compound Annual Growth Rate) of around 3.1% between 2021 and 2026.
This provides insight into the industry’s trajectory and can be used to inform decisions about investments, hiring, and other strategic planning. It is an important piece of information for anyone interested in the HVAC industry and its future.
Heating equipment accounts for approximately 40% of the global HVAC market.
Heating equipment is a major component of the industry, and that it is a key factor in the success of the HVAC market. This statistic is a valuable insight into the industry, and it is essential for anyone looking to gain a better understanding of the HVAC market.
The Asia-Pacific region is projected to be the fastest-growing HVAC market between 2020-2025.
This could be a great opportunity for businesses in the region to capitalize on the potential of the HVAC market and expand their operations. Furthermore, this could also be a great opportunity for investors to get in on the ground floor of a potentially lucrative industry.
In 2019, the global HVAC market was valued at $240.8 billion.
It highlights the fact that the industry is a major player in the global economy, with a huge potential for growth and development. It also serves as a reminder of the importance of staying up-to-date with the latest HVAC industry statistics in order to make informed decisions and stay ahead of the competition.
The residential HVAC market accounts for over 40% of market demand in the U.S.
The HVAC industry is a major player in the U.S. economy, and that it is a key factor in the overall market demand. This statistic is a valuable insight into the size and scope of the HVAC industry, and it is an important piece of information for anyone looking to gain a better understanding of the industry.
More than 50% of energy consumption in U.S. homes is associated with heating and cooling systems.
This demonstrates the need for efficient and reliable HVAC systems in order to reduce energy consumption and costs.
In 2021, about 150 million HVAC units were expected to be sold worldwide.
It speaks to the sheer number of people who rely on these units to keep their homes and businesses comfortable and safe. It also highlights the importance of the HVAC industry, which is responsible for providing these units to consumers. This statistic is a powerful reminder of the impact the HVAC industry has on the global economy.
The number of HVAC businesses in the United States increased by 2.2% between 2016 and 2021.
The industry is expanding and that more businesses are entering the market, which is a positive sign for the industry. This statistic is important for anyone interested in the HVAC industry, as it provides insight into the current state of the industry and its potential for future growth.
The HVAC industry employed around 367,050 people in the United States in 2020.
In 2022, about 30 million HVAC units are expected to be sold in the Asia-Pacific region.
It shows that the demand for HVAC units is expected to be high in the coming years, indicating that the industry is likely to experience significant growth in the region. This is an important insight for anyone interested in the HVAC industry, as it provides a glimpse into the future of the industry in the Asia-Pacific region.
The smart HVAC controls market is forecast to reach $28.3 billion by 2025.
Thus, the industry is on the rise and that businesses should take note of the opportunities that this growth presents. With the right strategies and investments, companies can capitalize on this trend and reap the rewards of a booming market.
About 45% of the global HVAC market demand comes from the Asia-Pacific region.
The Asia-Pacific region is a major player in the HVAC industry, and businesses should pay close attention to the trends and developments in this region. Furthermore, it serves as a reminder that the Asia-Pacific region is a key market for HVAC products and services, and that businesses should consider investing in this region to capitalize on the potential opportunities.
The CAGR of the HVAC equipment market in Europe is projected to be 4.7% between 2019 and 2027.
This information is essential for anyone interested in the HVAC industry, as it provides a clear indication of the potential for growth and investment opportunities.
Mini-split systems are predicted to grow at a CAGR of 5.1% from 2019 to 2025.
Thus, it could be a great opportunity for businesses in the HVAC industry to capitalize on the increasing demand for mini-split systems and expand their operations.
Energy-efficient HVAC systems are expected to have a global market value of $51.57 billion by 2025.
With a projected market value of over $50 billion, it is clear that the demand for these systems is on the rise. This is indicative of a larger trend towards energy efficiency and sustainability, and it is likely that this trend will continue to grow in the coming years. As such, this statistic is an important indicator of the current state of the HVAC industry and provides valuable insight into the future of the industry.
The global HVAC controls market was valued at around $13.6 billion in 2019.
The industry is a major player in the global economy, and that it is continuing to grow and expand. This is an important point to make in a blog post about HVAC industry statistics, as it demonstrates the importance of the industry and the potential for further growth.
Conclusion
The HVAC industry is a rapidly growing sector with a wide range of opportunities for those looking to enter the field. The industry is expected to continue to grow in the coming years, driven by an increasing demand for energy-efficient solutions and a growing population.
With the right training and knowledge, anyone can become a successful HVAC technician and take advantage of the many opportunities available in the industry. With the right information and resources, you can make an informed decision about your future in the HVAC industry.
References
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