Australia Hvac Systems Market Size & Outlook, 2023-2030
Australia hvac systems market, 2018-2030 (US$M)
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Australia hvac systems market highlights
- The Australia hvac systems market generated a revenue of USD 2,775.1 million in 2023 and is expected to reach USD 4,183.7 million by 2030.
- The Australia market is expected to grow at a CAGR of 6% from 2024 to 2030.
- In terms of segment, heat pump was the largest revenue generating equipment in 2023.
- Air Conditioning is the most lucrative equipment segment registering the fastest growth during the forecast period.
Hvac systems market data book summary
| Market revenue in 2023 | USD 2,775.1 million |
| Market revenue in 2030 | USD 4,183.7 million |
| Growth rate | 6% (CAGR from 2023 to 2030) |
| Largest segment | Heat pump |
| Fastest growing segment | Air Conditioning |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Australia accounted for 1.2% of the global hvac systems market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China hvac systems market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 14,371.6 million by 2030.
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HVAC Systems Market Scope
HVAC Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Australia 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 30.2% in 2023. Horizon Databook has segmented the Australia 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.
The demand for HVAC systems is likely to witness growth over the forecast period because of the rising government initiatives to encourage the use of energy-efficient products. HVAC systems provide cost-effective heating and cooling of spaces by using low quantities of fossil fuel compared to conventional systems.
However, due to higher upfront costs and a longer payback period than other heating and cooling systems, consumers in Australia prefer conventional heating and cooling systems. The higher installation cost of heat pumps is often a potential roadblock to heat pump adoption over conventional systems.
However, growing awareness of the benefits of heat pumps and favorable government policies are expected to propel the market growth over the forecast period. Rapid economic development has been propelling the construction & building activities in Australia. Furthermore, the growing manufacturing industry is expected to boost industrial construction activities in Australia.
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia hvac systems market , including forecasts for subscribers. This country databook contains high-level insights into Australia hvac systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia hvac systems market size, by equipment, 2018-2030 (US$M)
Australia HVAC Systems Market Outlook Share, 2023 & 2030 (US$M)
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