Global Residential HVAC Equipment

Report Overview

This study examines the global residential HVAC equipment industry. Demand for residential HVAC equipment is segmented by product and global geographic region. Historical data (2010, 2015, and 2020) and forecasts for 2025 and 2030 are presented in current US dollars (including inflation) at the global, regional, and country regions.

Demand by Region

Global demand for HVAC equipment in the residential market is forecast to increase 4.0% per year to $49.3 billion in 2025. The Asia/Pacific region will account for the largest share of demand gains through 2025, with above average growth anticipated in China, India, and other emerging markets.

Demand by Product

Heat pumps are expected to achieve particularly strong gains, supported by diverse incentives and initiatives promoting heat pumps as eco-friendly and efficient comfort cooling systems. Room air conditioners are forecast to account for the largest share of growth in value terms, and warm air furnaces are also projected to post rapid gains through 2025.

Study Scope

HVAC equipment discussed includes:

• room air conditioners (both window units and through-the-wall air conditioners)
• heat pumps, including air source and geothermal heat pumps
• unitary air conditioners (including split, multi-split and single package units)
• central heating boilers
• warm air furnaces
• other HVAC equipment, including absorption chillers, dehumidifiers, humidifiers, liquid chillers, packaged terminal air conditioners, and room and zone heaters