USD
GBP 
CNY 
EUR 
INR 
JPY 
MYR 
ZAR 
KRW 
THB 
Digital Transformation and the Internet of Things Propel the Global Heating, Ventilation, and Air Conditioning Equipment Market, 2020 Updated Research Available
Strategies Centered on Solution-based HVAC Offerings and Clean Air for the Built Environment Create New Growth Opportunities
19-Nov-2020
Global
Market Research
K49F-01-00-00-00
EN01224-GL-MT_24948
Frost & Sullivan estimated HVAC equipment market revenue at $102.5 billion in 2019. Revenue is expected to grow at a nominal rate through 2026 to reach $140.6 billion. Demand for HVAC products because of climate change and the need for clean air in buildings is fueling market growth. Environmentally friendly, energy-efficient systems that save money are in the spotlight. The COVID-19 pandemic has intensified the focus on buildings’ ventilation systems and their role in reducing the risk of airborne virus transmission in workplaces and commercial establishments. Software-enabled services are in wide use to monitor usage trends and system performance, and perform predictive and preventive maintenance in order to reduce downtime and unexpected breakdowns.
COVID-19-related construction activity suspension, supply chain disruption, manufacturing facility shutdowns wreaked havoc on the industry; this is expected to affect market growth in short and medium terms. The high upfront cost for large installations also is proving to be a challenge. New business models that address the high capital expenditure barrier and support system operation and maintenance will be beneficial to the market.
Research Scope
Frost & Sullivan examines market performance in 4 key regions (North America, Europe, Asia-Pacific, and Rest of World [consisting of the Middle East, Africa, Latin America, and the Commonwealth of Independent States]), and by product type: heating equipment (heat pumps, boilers, furnaces, unitary heaters); ventilation equipment (ventilation fans, air handling units and fan coil units, humidifiers/dehumidifiers, air cleaners); and cooling equipment (ducted split/packaged unit, split units, room ACs, chillers, variable refrigerant flow) for residential, industrial (warehouses, factories, manufacturing plants) and commercial (offices, malls, schools, universities/colleges, healthcare facilities, hospitality businesses, data centers, and transportation and government building) use.
Key Issues Addressed
- What will affect market growth through 2026?
- What factors influence market dynamics, including drivers and challenges?
- How do various end-user industries and applications boost HVAC equipment revenue?
- Who are the key market participants and what are their competitive strengths?
- How do technological advancements enable market growth?
Key Findings
Why Is It Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top Three Strategic Imperatives 8™ on the HVAC Equipment Market
Growth Opportunities Fuel the Growth Pipeline Engine™
HVAC Equipment Market, Scope of Analysis
HVAC Equipment Market, Segmentation
Key Competitors in the HVAC Equipment Market
Key Growth Metrics in the HVAC Equipment Market
HVAC Equipment Market Distribution Channels
HVAC Equipment Market Distribution Channel Analysis
Growth Drivers in the HVAC Equipment Market
Growth Restraints in the HVAC Equipment Market
Revenue Forecast
Revenue Forecast Analysis
Revenue Forecast by Region
Revenue Forecast Analysis by Region
Revenue Forecast by Vertical Market
Revenue Forecast by Product Type
Revenue Forecast Analysis by Product Type
Pricing Trends and Forecast Analysis
Competitive Environment
Market Share Analysis
Market Share Analysis (continued)
Key Growth Metrics
Key Findings
Revenue Forecast
Revenue Forecast Analysis
Revenue Forecast by Product Type
Revenue Forecast Analysis by Product Type
Revenue Forecast by Vertical Market
Revenue Forecast Analysis by Vertical Market
Key Growth Metrics
Key Findings
Revenue Forecast
Revenue Forecast Analysis
Revenue Forecast by Product Type
Revenue Forecast Analysis by Product Type
Revenue Forecast by Vertical Market
Revenue Forecast Analysis by Vertical Market
Key Growth Metrics
Key Findings
Revenue Forecast
Revenue Forecast Analysis
Revenue Forecast by Product Type
Revenue Forecast Analysis by Product Type
Revenue Forecast by Vertical Market
Revenue Forecast Analysis by Vertical Market
Key Growth Metrics
Key Findings
Revenue Forecast
Revenue Forecast Analysis
Revenue Forecast by Product Type
Revenue Forecast Analysis by Product Type
Revenue Forecast by Vertical Market
Revenue Forecast Analysis by Vertical Market
Growth Opportunity 1: Sustainability in the HVAC Equipment Market
Growth Opportunity 1: Sustainability in the HVAC Equipment Market (continued)
Growth Opportunity 2: Optimizing HVAC Equipment for Demand Response Programs
Growth Opportunity 2: Optimizing HVAC Equipment for Demand Response Programs (continued)
Growth Opportunity 3: HVACaaS
Growth Opportunity 3: HVACaaS (continued)
Your Next Steps
Why Frost, Why Now?
List of Exhibits
List of Exhibits (continued)
Legal Disclaimer
Speak directly with our analytics experts for tailored recommendations.
Recent related Homes and Buildings research
22 Oct 2026 | Global | Market Research
Building Construction Market, Global, 2026–2031
The global building construction market is expected to grow steadily from $8.89 trillion in 2025 to $10.56 trillion by 2031, at a 2.9% CAGR, supported by urbanization, housing demand, industrial expansion, and investment in data centers, healthcare facilities, logistics hubs, and advanced manufactur...
15 Oct 2026 | Global | Market Research
Environmental Assessment of the Top 50 Climate-Smart Companies Accelerating the Low-Carbon Economy in the Built Environment, 2026
In a global environment increasingly defined by decarbonization, urbanization, and digital transformation, companies operating in the homes and buildings sector must fundamentally redefine their strategic purpose. Growing awareness among consumers, employees, suppliers, and policymakers is elevating...
13 Oct 2026 | Asia Pacific | Market Research
Facility Management Market, Malaysia, 2026–2031
Malaysia's facility management (FM) market is one of Southeast Asia's most advanced, anchored by long-term public sector concessions and public-private partnerships in healthcare and government, alongside a mature base of commercial and industrial end users. Three forces are reshaping growth: the sh...
09 Oct 2026 | Global | Frost Radar
Frost Radar™: Smart Building Solutions in Healthcare, 2026
Healthcare facilities are some of the most complex and mission-critical environments in the smart buildings market, and investment priorities now extend beyond energy management to indoor environmental quality, critical infrastructure monitoring, asset visibility, and workflow optimization. Revenue ...
17 Sep 2026 | Asia Pacific | Frost Radar
Frost Radar™: Facility Management in Malaysia, 2026
Malaysia's facility management (FM) market is transitioning from labor-intensive, compliance-driven service delivery to technology-enabled, outcome-oriented, and sustainability-integrated operating models. Competitive differentiation increasingly depends on providers’ ability to combine integrated F...
Purchase includes:
- Report download
- Growth Dialog™ with our experts
Growth Dialog™
A tailored session with you where we identify the:- Strategic Imperatives
- Growth Opportunities
- Best Practices
- Companies to Action
Impacting your company's future growth potential.