Latin America Hvac Systems Market Size & Outlook
Latin America hvac systems market, 2018-2030 (US$M)
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Latin America hvac systems market highlights
- The Latin America hvac systems market generated a revenue of USD 12,892.3 million in 2023.
- The market is expected to grow at a CAGR of 5.8% from 2024 to 2030.
- In terms of segment, air conditioning was the largest revenue generating equipment in 2023.
- Air Conditioning is the most lucrative equipment segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 12,892.3 million |
| Market revenue in 2030 | USD 19,147.4 million |
| Growth rate | 5.8% (CAGR from 2023 to 2030) |
| Largest segment | Air conditioning |
| Fastest growing segment | Air Conditioning |
| 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, Latin America region accounted for 5.5% 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 |
|---|
Latin America 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.
Air conditioning was the largest segment with a revenue share of 52.86% in 2023. Horizon Databook has segmented the Latin America 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.
According to the International Monetary Fund in October 2023, the annual gross domestic product (GDP) of the Central & South America region has remained high. The World Bank in October 2023 estimates that the GDP is likely to grow by 3.4% and its growth is likely to follow a similar trend in the coming years.
Such promising economic growth in Central & South American countries, such as Brazil, Argentina, and Venezuela, is attracting huge investment in construction and the oil & gas industry, which is likely to result in a high demand for HVAC systems.
Further, increasing investments in the public and private sectors are expected to augment the demand for HVAC systems, which is likely to drive the market over the forecast period. For example, with the improving security conditions in metropolitan areas with a market of 51.8 million people, Colombia remains an attractive destination for FDIs in Central & South America.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America hvac systems market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America hvac systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America hvac systems market size, by country, 2018-2030 (US$M)
Latin America HVAC Systems Market Outlook Share, 2023 & 2030 (US$M)
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