Commercial HVAC Market Size to Grow by USD 22.09 billion, Carrier Global Corp. and Daikin Industries Ltd. Among Key Vendors – Technavio – QNT Press Release


NEW YORK, Sept. 5, 2022 /PRNewswire/ — The commercial HVAC market will be driven by factors such as the rising number of data centers. Data centers comprise sensitive electronic components. Hence, the humidity, temperature, airflow, and hygiene should be maintained to prevent critical equipment failure. The equipment and machines used in data centers dissipate a significant amount of heat. HVAC systems ensure that server rooms are maintained at appropriate temperature and humidity levels. These factors will drive the commercial HVAC market growth during the forecast period.

The global commercial HVAC market size is expected to grow by USD 22.09 bn from 2021 to 2026, according to Technavio. Moreover, the growth momentum of the market will accelerate at a CAGR of 4.2% during the forecast period.

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Key Vendors and their Offerings

The commercial HVAC market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. Carrier Global Corp., Daikin Industries Ltd., Emerson Electric Co., Haier Smart Home Co. Ltd., Hitachi Ltd., Honeywell International Inc., Ingersoll Rand Inc., Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., Mitsubishi Electric Corp., Paloma Co. Ltd., Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Siemens AG, The Climate Control Group Inc., WaterFurnace International Inc., Edison Heating and Cooling, Farina Corp., among others, are the main players in the market. The key offerings of some of these vendors are listed below:

  • Carrier Global Corp. – The company offers HVAC solutions for schools, dental offices, hospitals, and other commercial facilities.
  • Daikin Industries Ltd. – The company offers various types of commercial air conditioners such as roof top, cassette, floor standing, and others.
  • Lennox International Inc. – The company offers products Trane, Club Car, and Thermo Kingwhich provide innovative solutions to optimize indoor environments through a broad portfolio of energy-efficient heating, ventilating, and air conditioning systems, parts support, and advanced controls for homes and commercial buildings.
  • LG Electronics Inc. – The company offers YORK chillers, which help reduce energy consumption and emissions and create a more comfortable and sustainable building environment.
  • Mitsubishi Electric Corp. – The company offers various commercial HVAC products such as packaged rooftop units, split systems, and heating products.

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Commercial HVAC Market Application Outlook (Revenue, USD bn, 2021-2026)
  • Equipment – size and forecast 2021-2026
  • Services – size and forecast 2021-2026
Commercial HVAC Market Geography Outlook (Revenue, USD bn, 2021-2026)
  • APAC – size and forecast 2021-2026
  • North America – size and forecast 2021-2026
  • Europe – size and forecast 2021-2026
  • South America – size and forecast 2021-2026
  • Middle East and Africa – size and forecast 2021-2026

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Revenue-generating Application Segments

The equipment Hence segment will be the largest contributor to market growth during the forecast period. HVAC equipment includes heating equipment, ventilation equipment, and air conditioning equipment. Builders of new commercial spaces are focusing on design, architecture, and sustainable practices., they are adopting energy -saving systems such as LEDs, HVAC units, and renewable power generation sources in commercial spaces. Thus, the increasing adoption of HVAC equipment will drive the commercial HVAC market growth during the forecast period.

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Commercial HVAC Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.2%

Market growth 2022-2026

USD 22.09 billion

Market structure

Fragmented

YoY growth (%)

3.83

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

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