China Hvac Systems Market Size & Outlook, 2023-2030
China hvac systems market, 2018-2030 (US$M)
Related Markets
China hvac systems market highlights
- The China hvac systems market generated a revenue of USD 57,431.0 million in 2023 and is expected to reach USD 99,826.4 million by 2030.
- The China market is expected to grow at a CAGR of 8.2% 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.
Hvac systems market data book summary
| Market revenue in 2023 | USD 57,431.0 million |
| Market revenue in 2030 | USD 99,826.4 million |
| Growth rate | 8.2% (CAGR from 2023 to 2030) |
| Largest segment | Heat pump |
| Fastest growing segment | Heat Pump |
| 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, China accounted for 24.6% 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.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
HVAC Systems Market Scope
HVAC Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
China 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 63.69% in 2023. Horizon Databook has segmented the China 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.
Major HVAC system manufacturing companies are shifting or expanding their production capacities to China to leverage the benefits of low labor costs. China, being the largest producer of heat pumps, ACs, and dehumidifiers, has attracted several manufacturers to the region. Moreover, the Trans-Pacific Partnership Agreement, of which China is a member, is projected to influence trade positively.
Various industries such as semiconductors, automotive, and lithium-ion batteries are continuously expanding in China, which is creating the demand for new dehumidifiers. Lithium-ion battery production demands strict humidity controls, which is below 1% relative humidity. High-performance dehumidifiers achieve this level of relative humidity.
According to the Ministry of Industry and Information Technology (MIIT), total lithium-ion battery production in the country reached 750 GWh in 2022, exhibiting an increase of 130% from 2021. Various government initiatives and subsidiary plans are expected to affect the HVAC systems market growth in the country.
Reasons to subscribe to China hvac systems market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of China hvac systems market databook
-
Our clientele includes a mix of hvac systems market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the China hvac systems market , including forecasts for subscribers. This country databook contains high-level insights into China hvac systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
China hvac systems market size, by equipment, 2018-2030 (US$M)
China HVAC Systems Market Outlook Share, 2023 & 2030 (US$M)
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
