Top 20 Companies in the Residential HVAC Equipment Market & Report (2025–2035): Key Insights & Innovations
RELEASE DATE: Aug 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global Residential HVAC Equipment Market Size is projected to Grow from USD 52.20 Billion in 2024 to USD 103.58 Billion by 2035, at a CAGR of 6.43% during the forecast period 2025–2035. Smart HVAC solutions are driven by the newest generation of AI-powered and IoT-enabled devices. Other key factors driving demand for residential HVAC systems are energy efficiency solutions, consumer awareness of indoor air quality, the necessity of smart homes, and the requirement to upgrade or replace current HVAC units.
Introduction
The industry that designs, manufactures, distributes, and maintains heating, ventilation, and air conditioning systems used within residential buildings is known as the residential HVAC equipment market. The purpose of these systems is to regulate temperature, humidity, air quality, and ventilation, which in turn improves house comfort and energy efficiency. The market may offer a variety of products, such as cooling systems, ventilation systems, exhaust fans, and air purifiers; heating systems, boilers, furnaces, and heat pumps, as a result of both types. Extreme weather events like heat waves and cold snaps brought on by climate change are dramatically increasing the need for reliable HVAC systems in residential buildings. The demand for climate-resilient, smart, and energy-efficient systems is propelling the rapid growth of the global residential HVAC equipment market.
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Residential HVAC Equipment Market Size & Statistics
- The Market Size for Residential HVAC Equipment Was Estimated to be worth USD 52.20 Billion in 2024.
- The Market Size is Going to Expand at a CAGR of 6.43% between 2025 and 2035.
- The Global Residential HVAC Equipment Market Size is anticipated to reach USD 103.58 Billion by 2035.
- North America is anticipated to grow at the highest share during the forecast period in the residential HVAC equipment market.
- Asia Pacific is expected to grow the fastest during the forecast period in the residential HVAC equipment market.
Regional growth and demand
Asia Pacific is expected to grow at the fastest CAGR during the forecast period in the residential HVAC equipment market.
The region's growth has been fueled by rising temperatures, rising disposable incomes, and fast urbanization in nations like China, India, and Southeast Asia. The need for sophisticated HVAC solutions is growing faster due to increased focus on energy-efficient HVAC systems and improved indoor air quality. Government programs encouraging energy-efficient technologies and the rise in smart home use will help support the region's robust growth in this sector.
North America is expected to generate the highest demand during the forecast period in the residential HVAC equipment market.
In addition, the market for smart and energy-efficient HVAC systems and growing trends in home automation are driving this. Government incentives, consumer knowledge of energy conservation and environmental issues, and regulatory pressures are all contributing to the massive investments in home HVAC upgrades that are taking place in the United States and Canada. Additionally, the region suffers cold winters and scorching summers, which creates a greater need for dependable household heating and cooling systems.
Top 10 trends in the Residential HVAC Equipment Market
- Smart Thermostats and Home Automation Integration
- Energy-Efficient and High SEER Systems
- Heat Pump Adoption (including Cold Climate Heat Pumps)
- Variable-Speed Compressors and Blowers
- Ductless Mini-Split Systems
- Indoor Air Quality Enhancements (IAQ Solutions)
- Electrification and Decarbonization Initiatives
- IoT-Enabled Predictive Maintenance and Diagnostics
- Eco-Friendly Refrigerants (Low-GWP Refrigerants)
- Compact and Space-Saving System Designs
1. Heat Pump Adoption (including Cold Climate Heat Pumps)
Adoption of residential heat pumps, especially those for cold climates, is booming as a result of improved performance, AI-driven energy optimization, and advantageous government subsidies. These systems are changing the landscape of domestic HVAC equipment by providing dependable comfort in all seasons and locations, lowering running costs, and directly assisting with global decarbonization initiatives.
2. IoT-Enabled Predictive Maintenance and Diagnostics
IoT-based predictive maintenance has several advantages, such as decreased repair costs, longer equipment lifespans, better indoor air quality, optimal energy use, and decreased downtime. Maintenance staff can prevent disruptions and minimize operating expenses by proactively addressing faults with the use of remote monitoring and automated notifications.
3. Indoor Air Quality Enhancements (IAQ Solutions)
IAQ improvements use real-time monitoring, intelligent ventilation, and state-of-the-art purification technology to efficiently lower indoor pollutants and preserve cozy, healthful spaces. By combining green materials and energy-efficient ventilation systems, modern solutions address occupant health and environmental sustainability, establishing new benchmarks for indoor air quality control.
4. Eco-Friendly Refrigerants (Low-GWP Refrigerants)
The shift promotes increased energy efficiency and system design advancements to safely handle hazardous or moderately flammable refrigerants. For manufacturers to comply while upholding performance and safety standards, research and development expenditures will be necessary.
5. Compact and Space-Saving System Designs
HVAC system designs that are small and space-efficient are becoming more and more important, particularly as homes and businesses deal with space limits and look for effective solutions without compromising functionality. The goal of these designs is to reduce the physical footprint of HVAC units by using prefabricated, integrated, and modular parts that can be installed in locations that are smaller, have low ceilings, or have been retrofitted.
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Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the Residential HVAC Equipment market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 20 Companies Leading the Residential HVAC Equipment Market
- Carrier Corporation
- Daikin Industries, Ltd.
- Trane Technologies
- Lennox International Inc.
- Rheem Manufacturing Company
- Mitsubishi Electric Corporation
- Honeywell International Inc.
- Bosch Thermotechnology
- Johnson Controls International plc
- Fujitsu General Limited
- American Standard
- Honeywell
- Midea Group
- Gree Electric
- Panasonic Corporation
- Samsung Electronics
- Toshiba Corporation
- Ingersoll-Rand
- Krueger
- Warren Technology
1. Samsung Electronics
Headquarters: Gyeonggi-do, South Korea
Samsung Electronics, a leading pioneer in the residential HVAC equipment industry, is renowned for its cutting-edge, energy-efficient heating and cooling systems designed for contemporary homes. The company's flagship product, the Samsung HylexTM heat pump system, was named a Sustainable Product of the Year in 2025 for its energy-efficient operation, worldwide compatibility, and small size. The HylexTM system minimizes waste and disturbance by enabling homeowners to utilize their existing refrigerant piping, making installation and retrofit simple. It reduces household energy use by integrating with Samsung's SmartThings Energy platform for AI-driven energy optimization and real-time monitoring.
2. Johnson Controls International plc
Headquarters: Albert Quay, Ireland
Johnson Controls uses smart technology to give homeowners IoT-enabled controls that offer real-time energy monitoring and remote administration through smartphone apps. Their indoor air quality technology ensures healthier living conditions by improving filtration and ventilation. Johnson Controls is renowned for its long-lasting and dependable home HVAC systems, which are produced with an emphasis on sustainability and adherence to changing energy laws. Space-saving systems in their portfolio provide precise temperature control to specific rooms while lowering total energy usage, making them perfect for both new construction and retrofit projects.
3. Honeywell
Headquarters: North Carolina, United States
Honeywell is a major player in the home HVAC equipment market, providing a variety of intelligent, energy-efficient indoor air quality, heating, and cooling systems. The Honeywell Home X2S smart thermostat, which has Matter compatibility and easily connects to well-known smart home ecosystems like Apple HomeKit, Google Home, and Amazon Alexa, is a 2025 highlight. With AI-driven optimization and suggested scheduling, this thermostat provides sophisticated energy management, lowering HVAC energy usage by up to 22% for heating users and 17% for cooling users. A wide range of customers can now enjoy smart HVAC management due to their thermostats and control systems' simple installation and intuitive programming.
4. Mitsubishi Electric Corporatio
Headquarters: Tokyo, Japan
Mitsubishi Electric offers wall-mounted units, ceiling cassettes, and ductless mini-split systems for flexible installation and cozy zoned temperature management in their home HVAC products. The sophisticated MELCloud app is connected with these devices, allowing for smartphone-based remote monitoring, control, and energy usage analysis. Mitsubishi also places a strong emphasis on integrating smart buildings by using interfaces that are compatible with home automation, Modbus, and KNX protocols, which improve efficiency and centralized management. For 2025, the corporation prioritizes environmentally friendly technology, including heat pumps that use natural refrigerants like CO2 and R290 (propane), which have a low potential to cause global warming and are very energy-efficient.
5. Panasonic Corporation
Headquarters: Tokyo, Japan
As a world leader in home HVAC systems, Panasonic Corporation is renowned for its creative, intelligent, and energy-efficient heating and cooling systems. Panasonic added more than 60 new household models to its lineup of Matter-enabled smart air conditioners in 2025. These models are ideal for hot climates like India since they can tolerate temperatures as high as 55°C. These air conditioners have features including AI-powered adaptive thermal comfort algorithms, cutting-edge indoor air purification technologies (nanoe), and effective airflow designs with 4-way swing and jet stream characteristics that guarantee excellent cooling coverage. Panasonic's HVAC advancements are in line with worldwide decarbonization initiatives and the growing need for energy-efficient residential cooling solutions by placing a high priority on comfort, sustainability, and smart home connectivity through apps like Miraie.
Are you ready to discover more about the Residential HVAC Equipment market?
The report provides an in-depth analysis of the leading companies operating in the global Residential HVAC Equipment market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Company Profiles
- Carrier Corporation
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- Daikin Industries, Ltd.
- Trane Technologies
- Lennox International Inc.
- Rheem Manufacturing Company
- Mitsubishi Electric Corporation
- Honeywell International Inc.
- Bosch Thermotechnology
- Johnson Controls International plc
- Fujitsu General Limited
- American Standard
- Honeywell
- Midea Group
- Gree Electric
- Panasonic Corporation
- Samsung Electronics
- Toshiba Corporation
- Ingersoll-Rand
- Krueger
- Warren Technology
Conclusion
The market for residential HVAC equipment is expanding quickly due to the combination of smart devices with AI and IoT capabilities and rising consumer awareness of indoor air quality and energy efficiency. In addition to enhancing house comfort during extreme weather events, these systems address climate resiliency by controlling temperature, humidity, and ventilation. Products from this industry include air purifiers, ventilation systems, air conditioners, and heat pumps. Global demand for energy-efficient technology is likely to increase, with North America continuing to have the highest market share and Asia Pacific seeing the quickest rise due to factors such as expanding urbanization, disposable incomes, and government backing.
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