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Report Overview
The global HVAC systems market size USD 242.35 Billion in 2025. The industry is expected to grow at a CAGR of 5.60% during the forecast period of 2026-2035. By 2035, the market is expected to reach USD 417.91 Billion.
The HVAC systems market share is increasing with governments worldwide implementing stricter energy efficiency standards. In January 2024, U.S. Department of Energy finalized new energy efficiency standards for residential cooking products to limit household utility costs and improve appliance reliability and performance. These policies are helping to lower carbon emissions and operational costs by promoting high-efficiency HVAC units that use advanced technologies, such as inverter compressors and smart thermostats. As a result, the demand is rising for these systems to meet compliance while offering long-term sustainability and savings.
The HVAC-as-a-Service (HVACaaS) model is emerging as a customer value proposition in the HVAC systems industry for offering flexible payment options and reducing upfront costs. This model allows businesses and homeowners to access HVAC systems without significant capital investment, promoting the adoption of energy-efficient technologies. With the tightening energy efficiency mandates and operational flexibility becoming vital, HVACaaS is gaining popularity as a cost-effective, scalable solution.
The HVAC systems market is further witnessing increasing integration with building automation systems (BAS) to enhance energy efficiency and occupant comfort. In May 2025, Johnson Controls launched the NSW8000 Series Wireless Sensor for enabling real-time temperature, humidity, occupancy, and optional CO2 monitoring for Metasys BAS and FX controllers. This integration allows for centralized control and monitoring of HVAC systems, lighting, and other building systems, leading to optimized performance and reduced energy consumption.
Market Size & Forecast
- Market Size in 2025: USD 242.35 Billion
- Projected Market Size in 2035: USD 417.91 Billion
- CAGR from 2026 to 2035: 5.60%
2025
Base Year
2019-2025
Historical Period
2026-2035
Forecast Period
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AI-based smart voice-controlled HVAC systems are expected to create innovative opportunities in the market.
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Smart building solutions are considered a crucial factor while buying or renting in the real estate market.
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The Asia Pacific holds the largest market share due to the rising usage of AC in the region.
Competitive Landscape
Prominent players operating in the HVAC systems market are adopting a range of strategic initiatives to strengthen their global presence and meet evolving consumer needs. One primary focus is the development of energy-efficient and environmentally friendly technologies. With tightening regulatory standards and growing demand for sustainability, companies are investing in research & development to produce smart HVAC systems that utilize IoT, AI, and automation for better performance and lower emissions. Strategic mergers, acquisitions, and partnerships are commonly pursued to expand market share, enter new regions, and diversify offerings.
Meanwhile product diversification and customization are enabling companies to serve distinct market segments, including residential, commercial, and industrial sectors. Many brands are tailoring their solutions to climate-specific and region-specific needs, enhancing customer relevance. Digital transformation is playing a growing role, with cloud connectivity, remote monitoring, and predictive maintenance becoming standard features. These innovations improve system reliability and end-user experience. Lastly, companies focus on marketing and branding, often highlighting smart features and sustainability to differentiate their products.
Lennox International, Inc.
Lennox International, Inc., founded in 1895 and headquartered in Texas, the United States, specializes in climate control solutions, providing heating, ventilation, air conditioning (HVAC), and refrigeration systems. The company’s product portfolio serves both residential and commercial markets, emphasizing energy efficiency and innovation in indoor air quality and temperature regulation.
LG Electronics, Inc.
Founded in 1958, LG Electronics, Inc. is based in Seoul, South Korea and offers a diverse range of consumer electronics, home appliances, and HVAC solutions. LG's product lineup includes televisions, mobile devices, refrigerators, and air conditioners, with a strong focus on smart technology and sustainability across both residential and commercial applications.
Carrier Global Corporation
Carrier Global Corporation, headquartered in Florida, the United States and founded in 2020, provides HVAC systems, refrigeration, and building automation solutions. The company serves residential, commercial, and industrial clients, focusing on energy efficiency, environmental stewardship, and advanced technology for climate and safety solutions.
Samsung Electronics Co. Ltd.
Established in 1969 and headquartered in Suwon, South Korea, Samsung Electronics Co. Ltd. is a global leader in technology and consumer electronics. The company manufactures smartphones, semiconductors, televisions, and home appliances. Samsung also provides digital and HVAC solutions for offering advanced innovations that integrate smart technologies across diverse product categories.
Other players in the HVAC systems market are Haier Smart Home Co., Ltd., Daikin Industries, Ltd, Emerson Electric Co., Honeywell International Inc, Johnson Controls International plc, Hitachi Ltd., Havells India Ltd., Fujitsu, Mitsubishi Electric Corporation, Rheem Manufacturing Company, and Trane, among others.
HVAC Systems Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2025, the market reached an approximate value of USD 242.35 Billion.
The market is projected to grow at a CAGR of 5.60% between 2026 and 2035.
The market is estimated to witness a healthy growth during 2026-2035 to reach around USD 417.91 Billion by 2035.
Key strategies driving the market include adoption of energy-efficient and smart technologies, government incentives promoting sustainable solutions, and rising urbanization increasing demand for climate control systems. Additionally, manufacturers are expanding through strategic partnerships, product innovations, and service-based models like HVAC-as-a-Service to meet evolving customer and regulatory expectations.
The key trends aiding the market include a growing preference for condensing boilers; popularity of ductless HVAC; growing demand for sustainable HVAC systems; and the rise of smart HVACs.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading equipment types in the industry are heating, ventilation, and cooling.
The major implementation types of HVAC systems in the market are new constructions and retrofits.
The significant end use segments in the industry are residential, commercial, and industrial sectors.
The key players in the market report include Lennox International, Inc., LG Electronics, Inc., Carrier Global Corporation, Samsung Electronics Co. Ltd., Haier Smart Home Co., Ltd., Daikin Industries, Ltd, Emerson Electric Co., Honeywell International Inc, Johnson Controls International plc, Hitachi Ltd., Havells India Ltd., Fujitsu, Mitsubishi Electric Corporation, Rheem Manufacturing Company, and Trane, among others.
The residential segment is the largest segment of the market, driven by rapid urbanization, rising disposable incomes, and growing awareness of indoor air quality.
Asia Pacific led the market owing to improving economic conditions, rapid industrialization, and commercialization are anticipated to have a positive impact on the HVAC systems market growth.
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