How big is the Residential HVAC Market?

The Residential HVAC Market size is expected to reach USD 78 billion in 2024 and grow at a CAGR of 6.32% to reach USD 81 billion by 2029. Read More

What is the current Residential HVAC Market size?

In 2024, the Residential HVAC Market size is expected to reach USD 78 billion. Read More

Who are the key players in Residential HVAC Market?

Daikin Industries Ltd, Midea Group, Gree Electric Appliances, Trane Technologies and Carrier are the major companies operating in the Residential HVAC Market. Read More

Which is the fastest growing region in Residential HVAC Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Residential HVAC Market?

In 2024, the North America accounts for the largest market share in Residential HVAC Market. Read More

What years does this Residential HVAC Market cover, and what was the market size in 2023?

In 2023, the Residential HVAC Market size was estimated at USD 73.07 billion. The report covers the Residential HVAC Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Residential HVAC Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Residential HVAC Market Size & Share Analysis - Industry Research Report

Residential HVAC Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Residential HVAC Market is Segmented by Equipment (Air Conditioning/Ventilation Equipment (Type (Single Splits/multi Splits (Ducted/Ductless), Vrf, Air Handling Units, Other Types(Fan Coils, Rooftops))) and Heating Equipment (Type (Boilers/Radiators/Furnaces & Other Heaters, Heat Pumps)) and by Geography (North America (United States, Canada), Europe (United Kingdom, Italy, Germany, France, Spain, Eastern Europe, Benelux, Nordics, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia Pacific), Latin America, Middle East & Africa). The Report Offers the Market Size in Value Terms in USD for all the Abovementioned Segments.

Residential HVAC Industry Overview

The Residential HVAC Market appears semi-consolidated, with large vendors such as Daikin Industries Ltd., Carrier Corporation, Robert Bosch, Mitsubishi Electric, and Johnson Controls. With growing urbanization, a shift in consumer preferences, and demand for energy-efficient systems increased the investment in the market. The major market players offer advanced and smart HVAC systems and rapidly indulge in mergers and acquisitions to increase the consumer base and product offerings.

January 2023 - Johnson Controls-Hitachi Air Conditioning announced the launch of the air365 Max designed with energy efficiency, seamless comfort, and workable features. The air365 Max will be available in Latin America, Southeast Asia, and the Middle East in January and later in Europe, New Zealand, Australia, North America, and other regions.