Asia Pacific Hvac Systems Market Size & Outlook, 2023-2030
Asia Pacific hvac systems market, 2018-2030 (US$M)
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Asia Pacific hvac systems market highlights
- The Asia Pacific hvac systems market generated a revenue of USD 108,654.9 million in 2023.
- The market is expected to grow at a CAGR of 7.9% from 2024 to 2030.
- In terms of segment, heat pump was the largest revenue generating equipment in 2023.
- Heat Pump is the most lucrative equipment segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 108,654.9 million |
| Market revenue in 2030 | USD 185,553.2 million |
| Growth rate | 7.9% (CAGR from 2023 to 2030) |
| Largest segment | Heat pump |
| Fastest growing segment | Heat Pump |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Heat Pump, Furnace, Unitary Heaters, Boilers, Air Purifier, Dehumidifier, Air Handling Units, Ventilation Fans, Air Conditioning, Chillers, Cooling Towers |
| Key market players worldwide | Carrier Global Corp Ordinary Shares, Daikin Industries Ltd, Fujitsu Ltd, Haier, Hitachi Ltd, Johnson Controls International PLC, LG Electronics Inc ADR, Lennox International Inc, Mitsubishi Electric Corp, Samsung Electronics Co Ltd, Trane Technologies PLC Class A |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 46.5% of the global hvac systems market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 185,553.2 million by 2030.
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HVAC Systems Market Scope
HVAC Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific hvac systems market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to hvac systems market will help companies and investors design strategic landscapes.
Heat pump was the largest segment with a revenue share of 51.05% in 2023. Horizon Databook has segmented the Asia Pacific hvac systems market based on heat pump, furnace, unitary heaters, boilers, air purifier, dehumidifier, air handling units, ventilation fans, air conditioning, chillers, cooling towers covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific is the fastest-growing region in the world, contributing to over two-thirds of global economic growth. According to a report by the International Monetary Fund (IMF), the GDP growth in Asia Pacific contracted by 1.5% in 2020, in light of containment measures and global economic slowdown during the COVID-19 pandemic.
The region’s GDP growth is expected to rebound to 4.6% in 2023. Factors such as improving economic conditions, rapid industrialization, and commercialization are anticipated to have a positive impact on the HVAC systems market growth.
Asia Pacific is characterized by the availability of skilled labor at low cost. The shift in the production bases to emerging economies, India, and China, is expected to positively influence the growth of the HVAC systems market over the forecast period. The industrial sector is one of the largest consumers of HVAC systems in China.
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Our clientele includes a mix of hvac systems market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific hvac systems market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific hvac systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific hvac systems market size, by country, 2018-2030 (US$M)
Asia Pacific HVAC Systems Market Outlook Share, 2023 & 2030 (US$M)
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