Study #: 4116 | Published: 10/2021 | Pages: 152 | Individual User License: US$ 3,900

Global demand for residential HVAC equipment is forecast to increase 4.0% per year to $49.3 billion in 2025. Sales will improve relative to the 2015-2020 period as residential building construction activity rises.

Growth in Emerging Markets Incentivizing Innovation

A number of emerging markets – most notably India – hold strong growth prospects going forward, as rising standards of living will contribute to increasing penetration of HVAC equipment. In addition, many of the world’s most dynamic emerging markets are located near the equator, where rising temperatures are making cooling systems more of a necessity.

However, these nations typically have underdeveloped electrical infrastructure, and widespread use of HVAC equipment threatens to place strain on power grids. As a result, improvements in energy efficiency will represent a major advantage for gaining access to these markets. These nations also face additional challenges as they try to balance increasing industrialization with meeting climate targets, providing additional opportunities for producers who succeed in advancing climate-friendly technologies.

Air Conditioning Increasingly Penetrating Western Europe

Western Europe potentially represents a major growth market for air conditioning equipment, as the region includes many wealthy nations where this technology has historically been under-penetrated, especially in comparison to the US.

In recent years, unusually severe summer heat waves have driven spikes in sales of room air conditioners, and the threat of climate change presents the possibility that similar heat waves will be increasingly common going forward. As a result, sales are expected to remain elevated compared to historical norms, but cultural interest of air conditioning is expected to remain low in many areas. This represents both a challenge and an opportunity, as significantly stronger growth may be achievable if the industry can succeed in shifting attitudes toward residential air conditioning.

Heat Pumps Will Gain Market Share

Sales of heat pumps will increase at an above average rate, as the environmental and energy efficiency advantages of these products are allowing them to benefit from government incentive programs. Still, in many countries awareness of heat pumps remains low compared to more conventional HVAC products, and increased marketing to climate-conscious buyers could spur even faster gains.


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Table of Contents

1. Executive Summary

2. About This Report

Report Details

Study Scope & Product Description

Impact of COVID-19 Pandemic

3. Overview

Historical Market Trends

Residential Construction Outlook & Demand Factors

Demand by Region

Leading Country Markets

Leading Producers

4. Products

Demand by Product

Room Air Conditioners

Heat Pumps

Unitary Air Conditioners

Central Heating Boilers

Warm Air Furnaces

Other Residential HVAC Equipment

5. North America

North America: Residential HVAC Equipment Market Size & Historical Trends

North America: Demand by Country & Product

United States

United States: Residential HVAC Equipment Market Size & Historical Trends

United States: Demand by Product

Canada

Canada: Residential HVAC Equipment Market Size & Historical Trends

Canada: Demand by Product

Mexico

Mexico: Residential HVAC Equipment Market Size & Historical Trends

Mexico: Demand by Product

6. Central & South America

Central & South America: Residential HVAC Equipment Market Size & Historical Trends

Central & South America: Demand by Country & Product

Brazil

Brazil: Residential HVAC Equipment Market Size & Historical Trends

Brazil: Demand by Product

Other Central & South America

Other Central & South America: Residential HVAC Equipment Market Size & Historical Trends

Other Central & South America: Demand by Product

7. Western Europe

Western Europe: Residential HVAC Equipment Market Size & Historical Trends

Western Europe: Demand by Country & Product

Germany

Germany: Residential HVAC Equipment Market Size & Historical Trends

Germany: Demand by Product

United Kingdom

United Kingdom: Residential HVAC Equipment Market Size & Historical Trends

United Kingdom: Demand by Product

Italy

Italy: Residential HVAC Equipment Market Size & Historical Trends

Italy: Demand by Product

France

France: Residential HVAC Equipment Market Size & Historical Trends

France: Demand by Product

Spain

Spain: Residential HVAC Equipment Market Size & Historical Trends

Spain: Demand by Product

Other Western Europe

Other Western Europe: Residential HVAC Equipment Market Size & Historical Trends

Other Western Europe: Demand by Product

8. Eastern Europe

Eastern Europe: Residential HVAC Equipment Market Size Historical Trends

Eastern Europe: Demand by Country & Product

Russia

Russia: Residential HVAC Equipment Market Size & Historical Trends

Russia: Demand by Product

Poland

Poland: Residential HVAC Equipment Market Size & Historical Trends

Poland: Demand by Product

Other Eastern Europe

Other Eastern Europe: Residential HVAC Equipment Market Size & Historical Trends

Other Eastern Europe: Demand by Product

9. Asia/Pacific

Asia/Pacific: Residential HVAC Equipment Market Size & Historical Trends

Asia/Pacific: Demand by Country & Product

China

China: Residential HVAC Equipment Market Size & Historical Trends

China: Demand by Product

Japan

Japan: Residential HVAC Equipment Market Size & Historical Trends

Japan: Demand by Product

India

India: Residential HVAC Equipment Market Size & Historical Trends

India: Demand by Product

South Korea

South Korea: Residential HVAC Equipment Market Size & Historical Trends

South Korea: Demand by Product

Indonesia

Indonesia: Residential HVAC Equipment Market Size & Historical Trends

Indonesia: Demand by Product

Australia

Australia: Residential HVAC Equipment Market Size & Historical Trends

Australia: Demand by Product

Other Asia/Pacific

Other Asia/Pacific: Residential HVAC Equipment Market Size & Historical Trends

Other Asia/Pacific: Demand by Product

10. Africa/Mideast

Africa/Mideast: Residential HVAC Equipment Market Size & Historical Trends

Africa/Mideast: Demand by Country & Product

Saudi Arabia

Saudi Arabia: Residential HVAC Equipment Market Size & Historical Trends

Saudi Arabia: Demand by Product

Turkey

Turkey: Residential HVAC Equipment Market Size & Historical Trends

Turkey: Demand by Product

Other Africa/Mideast

Other Africa/Mideast: Residential HVAC Equipment Market Size & Historical Trends

Other Africa/Mideast: Demand by Product

11. Appendix

Scope

Definitions

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Studies & Reports

Country Lists by Region

Macroeconomic Assumptions

Global Economic Outlook

Global Population

Global Residential Building Construction Outlook


List of Tables

2. About This Report

Table 2-1 | Annual Global Residential HVAC Equipment Demand by Region, 2019 - 2021 (million dollars)

Table 2-2 | Annual Global Residential HVAC Equipment Demand by Product, 2019 - 2021 (million dollars)

3. Overview

Table 3-1 | Global Residential HVAC Equipment Demand, 2010 - 2020 (million dollars)

Table 3-2 | Global Residential HVAC Equipment Demand by Region, 2010 - 2030 (million dollars)

4. Products

Table 4-1 | Global Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

Table 4-2 | Global Residential Room Air Conditioner Demand by Region, 2010 - 2030 (million dollars)

Table 4-3 | Global Residential Heat Pump Demand by Region, 2010 - 2030 (million dollars)

Table 4-4 | Global Residential Unitary Air Conditioner Demand by Region, 2010 - 2030 (million dollars)

Table 4-5 | Global Residential Central Heating Boiler Demand by Region, 2010 - 2030 (million dollars)

Table 4-6 | Global Residential Warm Air Furnace Demand by Region, 2010 - 2030 (million dollars)

Table 4-7 | Other Residential HVAC Equipment Demand by Region, 2010 - 2030 (million dollars)

5. North America

Table 5-1 | North America: Residential HVAC Equipment Demand by Country & Product, 2010 - 2030 (million dollars)

Table 5-2 | United States: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

Table 5-3 | Canada: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million US dollars)

Table 5-4 | Mexico: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

6. Central & South America

Table 6-1 | Central & South America: Residential HVAC Equipment Demand by Country & Product, 2010 - 2030 (million dollars)

Table 6-2 | Brazil: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

Table 6-3 | Other Central & South America: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

7. Western Europe

Table 7-1 | Western Europe: Residential HVAC Equipment Demand by Country & Product, 2010 - 2030 (million dollars)

Table 7-2 | Germany: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

Table 7-3 | United Kingdom: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

Table 7-4 | Italy: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

Table 7-5 | France: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

Table 7-6 | Spain: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

Table 7-7 | Other Western Europe: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

8. Eastern Europe

Table 8-1 | Eastern Europe: Residential HVAC Equipment Demand by Country & Product, 2010 - 2030 (million dollars)

Table 8-2 | Russia: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

Table 8-3 | Poland: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

Table 8-4 | Other Eastern Europe: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

9. Asia/Pacific

Table 9-1 | Asia/Pacific: Residential HVAC Equipment Demand by Country & Product, 2010 - 2030 (million dollars)

Table 9-2 | China: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

Table 9-3 | Japan: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

Table 9-4 | India: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

Table 9-5 | South Korea: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

Table 9-6 | Indonesia: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

Table 9-7 | Australia: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million US dollars)

Table 9-8 | Other Asia/Pacific: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

10. Africa/Mideast

Table 10-1 | Africa/Mideast: Residential HVAC Equipment Demand by Country & Product, 2010 - 2030 (million dollars)

Table 10-2 | Saudi Arabia: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

Table 10-3 | Turkey: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

Table 10-4 | Other Africa/Mideast: Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

11. Appendix

Table 11-1 | Relevant HS Codes

Table 11-2 | Relevant NACE Codes

Table 11-3 | Relevant NAICS & SIC Codes

Table 11-4 | Countries in North America

Table 11-5 | Countries in Central & South America

Table 11-6 | Countries in Western Europe

Table 11-7 | Countries in Eastern Europe

Table 11-8 | Countries in the Asia/Pacific Region

Table 11-9 | Countries in the Africa/Mideast Region

Table 11-10 | Global Gross Domestic Product by Region & Country, 2010 - 2030 (billion 2019 dollars)

Table 11-11 | Global Population by Region & Country, 2010 - 2030 (million persons)

Table 11-12 | Global Residential Building Construction Expenditures by Region & Country, 2010 - 2030 (billion 2019 dollars)


List of Figures

1. Executive Summary

Figure 1-1 | Global Residential HVAC Equipment Market

2. About This Report

Figure 2-1 | Annual Global Residential HVAC Equipment Demand, 2018 - 2025 (million dollars)

3. Overview

Figure 3-1 | Global Residential HVAC Equipment Demand, 2010 - 2020 (million dollars)

Figure 3-2 | Global Residential Building Expenditures by Region, 2010 - 2030 (billion 2019 dollars)

Figure 3-3 | Global Residential HVAC Equipment Demand by Region, 2010 - 2030 (million dollars)

Figure 3-4 | Residential HVAC Equipment: Leading Country Markets, 2020 (million dollars)

Figure 3-5 | Global Residential HVAC Equipment Market Share by Company, 2020 (billion dollars)

4. Products

Figure 4-1 | Global Residential HVAC Equipment Demand by Product, 2010 - 2030 (million dollars)

5. North America

Figure 5-1 | North America: Residential HVAC Equipment Market Key Indicators, 2020

Figure 5-2 | North America: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars)

Figure 5-3 | North America: Residential HVAC Equipment Demand by Country, 2020 (billion dollars)

Figure 5-4 | United States: Residential HVAC Equipment Market Key Indicators, 2020

Figure 5-5 | United States: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars)

Figure 5-6 | Canada: Residential HVAC Equipment Market Key Indicators, 2020

Figure 5-7 | Canada: Residential HVAC Equipment Demand, 2010 - 2020 (million US dollars & million Canadian dollars)

Figure 5-8 | Mexico: Residential HVAC Equipment Market Key Indicators, 2020

Figure 5-9 | Mexico: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars & million peso)

6. Central & South America

Figure 6-1 | Central & South America: Residential HVAC Equipment Market Key Indicators, 2020

Figure 6-2 | Central & South America: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars)

Figure 6-3 | Central & South America: Residential HVAC Equipment Demand by Country, 2020 (billion dollars)

Figure 6-4 | Brazil: Residential HVAC Equipment Market Key Indicators, 2020

Figure 6-5 | Brazil: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars & million real)

Figure 6-6 | Other Central & South America: Residential HVAC Equipment Market Key Indicators, 2020

Figure 6-7 | Other Central & South America: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars)

7. Western Europe

Figure 7-1 | Western Europe: Residential HVAC Equipment Market Key Indicators, 2020

Figure 7-2 | Western Europe: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars)

Figure 7-3 | Western Europe: Residential HVAC Equipment Demand by Country, 2020 (billion dollars)

Figure 7-4 | Germany: Residential HVAC Equipment Market Key Indicators, 2020

Figure 7-5 | Germany: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars & million euro)

Figure 7-6 | United Kingdom: Residential HVAC Equipment Market Key Indicators, 2020

Figure 7-7 | United Kingdom: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars & million pounds)

Figure 7-8 | Italy: Residential HVAC Equipment Market Key Indicators, 2020

Figure 7-9 | Italy: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars & million euro)

Figure 7-10 | France: Residential HVAC Equipment Market Key Indicators, 2020

Figure 7-11 | France: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars & million euro)

Figure 7-12 | Spain: Residential HVAC Equipment Market Key Indicators, 2020

Figure 7-13 | Spain: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars & million euro)

Figure 7-14 | Other Western Europe: Residential HVAC Equipment Market Key Indicators, 2020

Figure 7-15 | Other Western Europe: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars)

8. Eastern Europe

Figure 8-1 | Eastern Europe: Residential HVAC Equipment Market Key Indicators, 2020

Figure 8-2 | Eastern Europe: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars)

Figure 8-3 | Eastern Europe: Residential HVAC Equipment Demand by Country, 2020 (billion dollars)

Figure 8-4 | Russia: Residential HVAC Equipment Market Key Indicators, 2020

Figure 8-5 | Russia: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars & billion ruble)

Figure 8-6 | Poland: Residential HVAC Equipment Market Key Indicators, 2020

Figure 8-7 | Poland: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars & million zloty)

Figure 8-8 | Other Eastern Europe: Residential HVAC Equipment Market Key Indicators, 2020

Figure 8-9 | Other Eastern Europe: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars)

9. Asia/Pacific

Figure 9-1 | Asia/Pacific: Residential HVAC Equipment Market Key Indicators, 2020

Figure 9-2 | Asia/Pacific: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars)

Figure 9-3 | Asia/Pacific: Residential HVAC Equipment Demand by Country, 2020 (billion dollars)

Figure 9-4 | China: Residential HVAC Equipment Market Key Indicators, 2020

Figure 9-5 | China: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars & billion yuan)

Figure 9-6 | Japan: Residential HVAC Equipment Market Key Indicators, 2020

Figure 9-7 | Japan: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars & billion yen)

Figure 9-8 | India: Residential HVAC Equipment Market Key Indicators, 2020

Figure 9-9 | India: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars & billion rupee)

Figure 9-10 | South Korea: Residential HVAC Equipment Market Key Indicators, 2020

Figure 9-11 | South Korea: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars & billion won)

Figure 9-12 | Indonesia: Residential HVAC Equipment Market Key Indicators, 2020

Figure 9-13 | Indonesia: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars & billion rupiah)

Figure 9-14 | Australia: Residential HVAC Equipment Market Key Indicators, 2020

Figure 9-15 | Australia: Residential HVAC Equipment Demand, 2010 - 2020 (million US dollars & million Australian dollars)

Figure 9-16 | Other Asia/Pacific: Residential HVAC Equipment Market Key Indicators, 2020

Figure 9-17 | Other Asia/Pacific: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars)

10. Africa/Mideast

Figure 10-1 | Africa/Mideast: Residential HVAC Equipment Market Key Indicators, 2020

Figure 10-2 | Africa/Mideast: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars)

Figure 10-3 | Africa/Mideast: Residential HVAC Equipment Demand by Country, 2020 (billion dollars)

Figure 10-4 | Saudi Arabia: Residential HVAC Equipment Market Key Indicators, 2020

Figure 10-5 | Saudi Arabia: Residential HVAC Equipment Demand, 2010 - 2020 (million dollar & million riyals)

Figure 10-6 | Turkey: Residential HVAC Equipment Market Key Indicators, 2020

Figure 10-7 | Turkey: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars & million lira)

Figure 10-8 | Other Africa/Mideast: Residential HVAC Equipment Market Key Indicators, 2020

Figure 10-9 | Other Africa/Mideast: Residential HVAC Equipment Demand, 2010 - 2020 (million dollars)


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