Hospital HVAC Systems Market To Reach $16.69 Billion By 2030

Hospital HVAC Systems Market Growth & Trends

The global hospital HVAC systems market size is expected to reach USD 16.69 billion by 2030, registering a CAGR of 7.2% from 2023 to 2030, according to a study conducted by Grand View Research, Inc. Hospitals have specific requirements in terms of air quality and aseptic conditions owing to critical health condition of patients. The imminent need to ensure requisite temperature coupled with rising awareness regarding maintaining a clean and hygienic environment at healthcare facilities is anticipated to positively affect the growth.

The healthcare industry is witnessing an upward trend in terms of number of luxury hospital establishments and rise in medical tourism. According to the data published by the International Trade Administration of U.S, the India medical tourism market is expected to grow from USD 3 billion in 2018 to approximately USD 7 billion by 2020. Thus, rise in the number of healthcare facilities will consequently result in new installations of HVAC systems, thereby driving the demand.

Temperature and ventilation control help control the spread of disease-causing microorganisms prevailing in the hospital environment. Additionally, the controlled environment in hospitals act as a catalyst in healing process along with providing comfort to the patients. The demand for HVAC units from hospitals is anticipated to witness significant growth over the forecast period, due to the rising awareness regarding the impact that a healthy environment has on expediting the healing process of patients.

The hospital HVAC systems market is highly competitive in nature and is marked by the presence of key players including Lennox International, United Technologies Corporation; Daikin Industries, Ltd.; and Trane, Inc. In a bid to sustain in the intensifying competition, HVAC system manufacturers are offering unique solutions designed specifically to cater to hospital requirements. For instance, Honeywell International Inc. offers Honeywell Enterprise Buildings Integrator (EBI) specially designed for healthcare facilities that enables end users to control and monitor HVAC systems remotely, also providing real-time communication between multiple connected systems via single platform.

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Hospital HVAC Systems Market Report Highlights

• The cooling segment accounted for the highest value share in 2022, owing to rising demand for air conditioning systems in hospitals

• The intensive care unit (ICU) segment accounted for the second largest revenue share of 24.0% in 2022. 

• The airborne infection isolation rooms segment is expected to grow at a CAGR of 5.6% over the forecast period.

• Asia Pacific dominated the market and accounted for the largest revenue share of 46.3% in 2022.

Hospital HVAC Systems Market Segmentation

Grand View Research has segmented the global hospital HVAC systems market based on product, end use, and region:

Hospital HVAC Systems Product Outlook (Revenue, USD Million, 2018 - 2030)

• Heating

• Ventilation

• Cooling

Hospital HVAC Systems End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Intensive Care Unit (ICU)

• Operating Rooms

• Airborne Infection Isolation Rooms

• Protective Environment Rooms

• Compounding Pharmacies

• Others

Hospital HVAC Systems Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

  • Russia

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Malaysia

  • Indonesia

  • Thailand

  • Australia

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arbia

  • South Africa

  • UAE

List of Key Players of Hospital HVAC Systems Market

• LG Electronics

• Lennox International Inc.

• Carrier Corporation

• Samsung Electronics Co., Ltd.

• Electrolux AB Corporation

• United Technologies Corporation

• Haier Inc.

• Havells India Ltd.

• Johnson Controls–Hitachi Air Conditioning

• Emerson Electric Co.

• Rheem Manufacturing Company

• Mitsubishi Electric Trane HVAC US LLC