Heating, ventilation, and air conditioning (HVAC) is the technology of indoor environmental comfort. Its goal is to provide thermal comfort and acceptable indoor air quality. HVAC Systems design is a subdiscipline of mechanical engineering, based on the principles of thermodynamics, fluid mechanics and heat transfer.
HVAC is an important part of residential structures such as single family homes, apartment buildings, hotels and senior living facilities, medium to large industrial and office buildings such as skyscrapers and hospitals, where safe and healthy building conditions are regulated with respect to temperature and humidity, using fresh air from outdoors.
According to the new market research report “Global HVAC Systems Market Report 2023-2029”, published by QYResearch, the global HVAC Systems market size is projected to reach USD 268.25 billion by 2029, at a CAGR of 5.6% during the forecast period.
Figure00001. Global HVAC Systems Market Size (US$ Million), 2018-2029
Based on or includes research from QYResearch: Global HVAC Systems Market Report 2023-2029.
Figure00002. Global HVAC Systems Top 21 Players Ranking and Market Share（Continually updated）
Based on or includes research from QYResearch: Global HVAC Systems Market Report 2023-2029.
The global key manufacturers of HVAC Systems include Gree, Daikin, Midea, Johnson Controls, Carrier, Trane Technologies, Haier, Panasonic, LG Electronics, Lennox, etc. In 2020, the global top 10 players had a share approximately 61.0% in terms of revenue.
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