Latvia Hvac Systems Market Size & Outlook, 2023-2030
Latvia hvac systems market, 2018-2030 (US$M)
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Latvia hvac systems market highlights
- The Latvia hvac systems market generated a revenue of USD 293.8 million in 2023 and is expected to reach USD 423.3 million by 2030.
- The Latvia market is expected to grow at a CAGR of 5.4% 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 293.8 million |
| Market revenue in 2030 | USD 423.3 million |
| Growth rate | 5.4% (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, Latvia accounted for 0.1% 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 Europe, France hvac systems market is projected to lead the regional market in terms of revenue in 2030.
- France is the fastest growing regional market in Europe and is projected to reach USD 17,427.3 million by 2030.
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HVAC Systems Market Scope
HVAC Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latvia 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 37.47% in 2023. Horizon Databook has segmented the Latvia 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 most recent calendar-adjusted data from the Central Statistical Bureau, construction output at constant prices witnessed a substantial increase of 15.4% in Q2 of 2023 compared to Q2 in 2022.
Specifically, there was a notable rise of 21.7% in the construction of buildings, a 21.1% increase in specialized construction activities, and a more modest uptick of 0.9% in civil engineering during the same quarter. These aforementioned factors are expected to augment the demand for HVAC systems in the coming years.
HVAC systems in residential construction include heating solutions such as boilers, heat pumps, and radiant heating systems to ensure comfortable living spaces during the cold Latvian winters. Moreover, commercial buildings in Latvia often use HVAC systems with zoning capabilities to control temperatures in different areas independently based on specific requirements.
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Horizon Databook provides a detailed overview of country-level data and insights on the Latvia hvac systems market , including forecasts for subscribers. This country databook contains high-level insights into Latvia hvac systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latvia hvac systems market size, by equipment, 2018-2030 (US$M)
Latvia HVAC Systems Market Outlook Share, 2023 & 2030 (US$M)
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