NEW
YORK, Jan. 18, 2025 /PRNewswire/ -- Report on
how AI is redefining market landscape - The global industrial HVAC
market size is estimated to grow by USD
6.81 billion from 2025-2029, according to Technavio. The
market is estimated to grow at a CAGR of 7.9% during
the forecast period. Increasing demand for energy-efficient hvac
systems is driving market growth, with a trend
towards growing adoption of advance refrigerants in air
conditioners. However, frequent change in regulation
pertaining to industrial hvac poses a challenge. Key market
players include Alfa Laval AB, Carrier Global Corp., Daikin
Industries Ltd., Emerson Electric Co., Furukawa Electric Co. Ltd.,
Hitachi Ltd., Honeywell International Inc., Ingersoll Rand Inc.,
Johnson Controls International Plc, Lennox International Inc., LG
Corp., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., Panasonic
Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd.,
Shield Air Solutions Inc., Specific Systems LLC, Stryker Corp., and
WHESCO Group Inc..
Key insights into market evolution with AI-powered analysis.
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Industrial HVAC
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2024
|
Historic
period
|
2019 - 2023
|
Forecast
period
|
2025-2029
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
7.9%
|
Market growth
2025-2029
|
USD 6.81
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
7.2
|
Regional
analysis
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 41%
|
Key
countries
|
China, US, Germany, UK,
France, Japan, Canada, South Korea, Brazil, and UAE
|
Key companies
profiled
|
Alfa Laval AB, Carrier
Global Corp., Daikin Industries Ltd., Emerson Electric Co.,
Furukawa Electric Co. Ltd., Hitachi Ltd., Honeywell International
Inc., Ingersoll Rand Inc., Johnson Controls International Plc,
Lennox International Inc., LG Corp., MIDEA Group Co. Ltd.,
Mitsubishi Electric Corp., Panasonic Holdings Corp., Robert Bosch
GmbH, Samsung Electronics Co. Ltd., Shield Air Solutions Inc.,
Specific Systems LLC, Stryker Corp., and WHESCO Group
Inc.
|
Market Driver
The Industrial HVAC market is witnessing significant trends
towards energy-efficient and sustainable solutions for heating,
cooling, and climate control in various sectors. These include
residential, commercial, and industrial buildings. Comfort levels
and indoor air quality are key considerations, especially in light
of climatic changes and long-term climate impact. The construction
sector, including residential and commercial construction
activities, is driving demand for energy-efficient HVAC systems due
to rapid urbanization and the need for affordable housing units.
The HVAC industry is responding with innovative technologies such
as programmable thermostats, smart HVAC systems, and Internet of
Things integration for real-time data analysis. Energy consumption
is a major concern, with air conditioners, heat pumps, and
energy-saving products gaining popularity. HVAC regulations and
environmental hazards are also influencing market trends, with a
focus on reducing carbon footprints and improving operational
efficiency. Operators of commercial HVAC systems must balance
initial costs with long-term savings, considering factors like
maintenance, repair, and replacement parts. Consumer groups and
HVAC industry consultants are advocating for education and
awareness around energy-efficient solutions, while private
organizations are investing in training programs and cost-effective
financing options. In the industrial sector, HVAC infrastructure is
crucial for various applications, including data centers,
electronic components, and oil hydraulics goods. New construction
and retrofit projects require specialized equipment and skilled
professionals for implementation, with a focus on cost savings and
environmental factors. Overall, the HVAC market is evolving to meet
the needs of diverse sectors and consumer demands, with a focus on
energy efficiency, affordability, and sustainable solutions. New
product launches and advancements in technologies like VRF systems
and cooling equipment are expected to drive growth in the coming
years.
The industrial HVAC market is shifting towards advanced
refrigerants with improved efficiency and lower environmental
impact. Traditional refrigerants like CFCs, HCFCs, ammonia, and
halons are being replaced due to their high global warming
potential (GWP). Companies are developing energy-efficient and
eco-friendly systems using refrigerants with lower GWP. This trend
is driving the demand for innovative HVAC solutions, such as
variable refrigerant flow (VRF) systems, on a global scale. These
systems offer optimal energy usage and reduced environmental
footprint, making them a preferred choice for industries seeking
sustainable cooling solutions.
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Market Challenges
- The Industrial HVAC market faces several challenges in
providing energy-efficient and sustainable climate control
solutions for various building types, including residential,
commercial, and industrial. Heating and cooling systems must
maintain thermal comfort and indoor air quality while addressing
climatic changes and energy consumption. The construction sector,
particularly in areas undergoing rapid urbanization, requires
affordable HVAC infrastructure for new housing units and commercial
infrastructure. Consumer groups demand cost-effective,
energy-efficient products, such as programmable thermostats,
airflow optimization, and smart HVAC systems. Maintenance, repair,
and installation costs are key concerns, as are system failures and
the availability of replacement parts. The HVAC industry must adapt
to the Internet of Things and real-time data analysis for cost
savings and efficient HVAC system control. Lack of awareness and
education about energy-efficient products and HVAC regulations pose
challenges. Private organizations and HVAC industry consultants
play a crucial role in implementing training programs and
affordable financing options for energy-saving products, such as
heat pumps and energy-efficient cooling systems. Industrial HVAC
systems, including commercial HVAC systems, data centers, and
cooling equipment, require specialized equipment and trained
professionals for installation, maintenance, and repair. Climate
control technologies, such as humidifiers, dehumidifiers, and air
purifiers, address environmental factors and contribute to
comfortable indoor environments. The HVAC industry must address
energy consumption, air conditioners, ambient temperature, and
humidity conditions in various applications, including hospitals,
shopping malls, restaurants, and commercial construction projects.
The average construction spending on energy-efficient cooling
systems and new product launches in the market continue to evolve,
with a focus on cost-effective solutions for various sectors. The
HVAC industry also faces challenges related to the use of
chemicals, oil hydraulics, and fluorocarbons, which can contribute
to environmental hazards and high carbon footprints. Regulations
and the development of energy-saving products, such as absorption
refrigerators and air-processing units, are essential to mitigating
these challenges. In summary, the Industrial HVAC market faces
various challenges in providing energy-efficient, sustainable, and
cost-effective climate control solutions for diverse building types
and applications. The industry must adapt to technological
advancements, consumer demands, and regulatory requirements while
addressing environmental concerns and ensuring the longevity and
affordability of HVAC infrastructure.
- Industrial HVAC market requires manufacturers to prioritize
regulatory compliance when designing systems. Regulations aim to
reduce carbon emissions and enhance energy efficiency. However,
these regulations vary from region to region, making it challenging
for vendors to meet each region's specific requirements. The harsh
operational conditions in process industrial settings necessitate,
severe-duty equipment. New regulations following industrial
accidents have intensified product development, adding to the
complexity. Adhering to these regulations is crucial for vendors to
expand their businesses into diverse regions.
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Segment Overview
This industrial hvac market report extensively covers market
segmentation by
- End-user
- 1.1 Process industry
- 1.2 Discrete industry
- Type
- 2.1 HVAC equipment
- 2.2 HVAC services
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
- Equipment
1.1 Process industry- The process industry
segment, which includes oil and gas, power, pulp and paper, water
and wastewater treatment, chemical and petrochemical, mining and
metal, pharmaceutical, and food and beverage industries, dominates
the global industrial HVAC market. This is largely due to
government regulations and rising energy costs, which are
encouraging these industries to minimize energy usage in their
manufacturing processes. End-users' growing awareness of energy
efficiency and environmental sustainability is also driving demand
for energy-efficient industrial HVAC systems in the process
industry. Moreover, in industrial settings, the risk of explosion
due to dust or chemical or vapor leaks during operations is a
constant concern, particularly in the oil and gas, chemical and
petrochemical, and mining industries. These industries are
classified as highly explosive industrial environments. The
increasing number of accidents in such process industries has
intensified safety concerns, leading to a significant increase in
demand for explosion-proof HVAC systems. In the pharmaceutical
industry, where solid ingredients used in the formulation of
pharmaceutical oral solid dosage forms can be combustible,
flammable solvents like isopropyl alcohol, methanol, and acetone,
used as tablet coatings, must be processed in a controlled
environment. Cleanrooms, which require HVAC systems, are essential
in the pharmaceutical industry to maintain the required
environmental conditions. In 2020, the food and beverages and
pharmaceutical industries had higher demand for industrial HVAC
compared to the oil and gas, mining and metals, and chemical and
petrochemical industries. The oil and gas and metals and mining
industries experienced slow growth in this market segment in
2019-2020. However, increasing investments in the chemical and
petrochemical and food and beverages industries have led to stable
growth in the process industry segment of the global industrial
HVAC market. The need to prevent dust-related explosions will
further fuel demand for explosion-proof HVAC systems from the food
and beverages and pharmaceutical industries during the forecast
period.
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Research Analysis
The Industrial HVAC market is experiencing significant growth
due to the increasing demand for energy-efficient and sustainable
climate control solutions in industrial buildings. Sustainable
buildings, including residential, commercial, and industrial
structures, are prioritizing HVAC systems that ensure thermal
comfort and maintain optimal indoor air quality. Space cooling and
heating applications are essential for industrial buildings, where
the standard of living and productivity depend on the climate
control technologies. Industrial HVAC systems encompass various
components, such as thermostats, dampers, condenser fans,
compressors, and evaporators. These systems play a crucial role in
regulating temperature, humidity levels, and indoor air quality
within the building's interior. The lifespan and mortality rate of
HVAC systems are essential factors in the product demand, with
commercial infrastructure and affordable housing units relying on
reliable and efficient systems to maintain a comfortable
environment. Climate control technologies continue to evolve, with
a focus on reducing energy consumption and minimizing environmental
impact. The commercial sector's growing emphasis on energy
efficiency and sustainability is driving the demand for advanced
HVAC systems that provide cost savings and contribute to a greener
future.
Market Research Overview
The Industrial HVAC market is experiencing significant growth
due to the increasing demand for energy-efficient and sustainable
climate control technologies in industrial buildings. Heating,
cooling, and climate control systems are essential for maintaining
thermal comfort and indoor air quality in various types of
buildings, including residential, commercial, and industrial.
Climatic changes and long-term climate change are driving the need
for more energy-efficient HVAC systems to reduce energy consumption
and mitigate environmental hazards. The construction sector,
including residential and industrial sectors, is undergoing rapid
urbanization, leading to an increase in housing units and
commercial infrastructure. Comfort levels, energy efficiency, and
affordability are key considerations for consumer groups when
purchasing HVAC systems. HVAC industry consultants play a crucial
role in providing guidance on system selection, maintenance,
repair, and installation costs. Smart HVAC systems, including
programmable thermostats and IoT-enabled systems, offer real-time
data and temperature control for cost savings and improved
environmental performance. Training programs for operators and
specialized equipment are essential for ensuring system reliability
and minimizing system failures. The HVAC industry is responding to
these trends by launching new energy-efficient products, such as
heat pumps and energy-saving air conditioners, and offering
financing options to make these systems more cost-effective for
consumers. HVAC regulations and incentives, such as tax rebates and
federal tax credits, are also driving demand for energy-efficient
systems in various sectors, including commercial, healthcare, and
data centers. HVAC systems include various components, such as air
conditioners, dampers, condenser fans, compressors, evaporators,
blowers, and air handling units. Cooling systems, heating
applications, and ventilation are essential for maintaining
comfortable indoor environments in various settings, including data
centers, hospitals, shopping malls, and restaurants. The HVAC
infrastructure is a critical component of industrial and commercial
infrastructure, with significant implications for energy usage,
electronic components, and environmental factors. HVAC system
control and maintenance are essential for ensuring system
reliability and minimizing replacement parts costs. The HVAC
industry is diverse, encompassing various sectors, including
defense, electronics, automotive and mobility, consumer industry,
power solutions, urban development, and more. HVAC systems are
essential for various applications, including space cooling,
heating, and ventilation, and are used in various industries,
including chemicals, oil hydraulics, and natural gas. In
conclusion, the Industrial HVAC market is a dynamic and complex
industry that is essential for maintaining thermal comfort and
indoor air quality in various types of buildings and applications.
The industry is responding to trends such as energy efficiency,
sustainability, and affordability by launching new products,
offering financing options, and providing training and education to
operators and consumers. The future of the HVAC industry is bright,
with significant opportunities for innovation, growth, and
sustainability.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Process Industry
- Discrete Industry
- Type
-
- HVAC Equipment
- HVAC Services
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
- Equipment
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio