Mexico Hvac Systems Market Size & Outlook, 2023-2030
Mexico hvac systems market, 2018-2030 (US$M)
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Mexico hvac systems market highlights
- The Mexico hvac systems market generated a revenue of USD 2,353.0 million in 2023 and is expected to reach USD 3,520.5 million by 2030.
- The Mexico market is expected to grow at a CAGR of 5.9% from 2024 to 2030.
- In terms of segment, air conditioning was the largest revenue generating equipment in 2023.
- Air Purifier 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 2,353.0 million |
| Market revenue in 2030 | USD 3,520.5 million |
| Growth rate | 5.9% (CAGR from 2023 to 2030) |
| Largest segment | Air conditioning |
| Fastest growing segment | Air Purifier |
| 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, Mexico accounted for 1.0% 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 North America, U.S. hvac systems market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 49,697.2 million by 2030.
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HVAC Systems Market Scope
HVAC Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Mexico 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 36.44% in 2023. Horizon Databook has segmented the Mexico 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 World Economic Outlook of the International Monetary Fund (IMF), the GDP growth rate of Mexico dropped by 8.24% in 2020. This decline was caused by the nationwide lockdown imposed in the country in 2020 to limit the spread of COVID-19.
According to the OECD, the GDP of Mexico grew by 1.9% in 2022 and is projected to rise by 2.1% in 2023. An increase in consumer awareness regarding the requirement for maintaining indoor air quality, the prevalence of airborne diseases, and a surge in death rates due to respiratory diseases have led to a risen adoption of proper temperature control, ventilation, and dehumidification systems in residential and commercial spaces in Mexico.
This, in turn, is anticipated to surge investments in new HVAC technologies in the country in the coming years. According to the National Renewable Energy Laboratory (NREL) of the U.S., the total energy demand from Mexico is projected to rise at an average rate of 3.5% per year over the next decade and the government of the country has set a clean energy generation target of 35% by 2024.
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Target buyers of Mexico hvac systems market databook
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Our clientele includes a mix of hvac systems market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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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 Mexico hvac systems market , including forecasts for subscribers. This country databook contains high-level insights into Mexico hvac systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico hvac systems market size, by equipment, 2018-2030 (US$M)
Mexico HVAC Systems Market Outlook Share, 2023 & 2030 (US$M)
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