Top 20 HVAC Companies in Global 2025: Statistics View by Spherical Insights and Consulting
RELEASE DATE: Jul 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Introduction
In residential, commercial, and industrial settings, HVAC (heating, ventilation, and air conditioning) systems regulate interior climate and air quality. Growing demand for intelligent and energy-efficient temperature control systems, increased building activity, and fast urbanization are some of the primary drivers. With the development of building automation technology, smart HVAC systems are growing rapidly in South Korea. HVAC systems are also crucial to the construction of contemporary infrastructure as environmental concerns and government programs encouraging sustainable buildings, which drives the global market expansion.
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HVAC Market Size & Statistics
- The market for HVAC was estimated to be worth USD 241.52 Billion in 2024.
- The market is Going to expand at a CAGR of 6.95 % between 2025 and 2035.
- The Global HVAC Market Size is anticipated to reach USD 505.73 Billion by 2035.
- Asia Pacific is expected to generate the highest demand during the forecast period in the HVAC Market.
- North America is expected to grow the fastest during the forecast period in the HVAC Market.
Regional growth and demand
North America is expected to grow the fastest during the forecast period in the HVAC market. The HVAC sector in the Asia Pacific is projected to experience the highest CAGR during the forecast period, driven by various key factors. The HVAC market is experiencing significant growth across major regions. Owing to favorable environmental legislation, HVAC system sales are booming in North America due to a combination of technical breakthroughs, greater disposable income, and harsh weather conditions. Eco-friendly legislation, growing residential development, and rising construction are driving Europe's growth.
Asia Pacific is expected to generate the highest demand during the forecast period in the HVAC market. The HVAC market is dominated by Asia Pacific because of growing demand from a variety of sectors, the expansion of real estate, and rising buying power. Real estate is receiving significant investments in developing nations like ASEAN and India. Demand is also driven by a variety of climates and the need for comfort. In order to satisfy changing demands, manufacturers are making investments in energy-efficient HVAC systems. In February 2022, for instance, Carrier introduced the AquaFlow Mini VWV X for residential usage in China.
Top 10 HVAC Trends
- Connected HVAC and IoT Integration
- AI and Predictive Maintenance
- Enhanced Indoor Air Quality (IAQ)
- Renewable Energy Integration
- Ductless HVAC Systems
- Energy Recovery Ventilation
- Energy Analytics and Management
- Advanced Air Filtration and Purification
- Workforce Development and Skills Gap
- Cybersecurity in HVAC Systems
1. Connected HVAC and IoT Integration
IoT integration in HVAC systems makes it possible for smart control, remote monitoring, and data-driven efficiency. Connected gadgets, such as smart thermostats, optimize energy use and detect problems early. These systems improve user comfort and operational dependability, making them perfect for modern residential and commercial buildings that want automation and energy management.
2. AI and Predictive Maintenance
AI provides predictive maintenance in HVAC systems by analyzing performance data to identify problems and optimize energy use. This decreases downtime, increases equipment life expectancy, and lowers maintenance expenses. AI-powered insights assist in simplifying operations, making HVAC systems smarter, more dependable, and efficient in commercial and industrial settings.
3. Enhanced Indoor Air Quality (IAQ)
Modern HVAC systems use sophisticated filters, UV lamps, and humidity controls to improve interior air quality. These qualities help eliminate allergies, pollutants, and pathogens, resulting in healthier surroundings. After the pandemic, IAQ has become a significant focus in homes, businesses, and public buildings to maintain occupant comfort and safety.
4. Renewable Energy Integration
Renewable energy sources, such as solar and geothermal, are increasingly being used to power HVAC systems. Integration with renewables is especially helpful in green buildings and places that promote eco-friendly construction, as it helps users fit with contemporary environmental norms and regulations.
5. Ductless HVAC Systems
Ductless HVAC systems provide flexible installation, energy economy, and individual climate management. They are ideal for retrofits and rooms without ducting since they decrease energy losses while also improving comfort. Ductless systems are becoming increasingly popular in residential and small business applications due to their compact size and ease of maintenance.
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Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the HVAC market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 20 Companies Leading the HVAC Market
- Carrier Corporation
- DAIKIN INDUSTRIES Ltd.
- Fujitsu
- Haier Group
- Panasonic Corporation
- AAON
- Johnson Controls
- LG Electronics
- Lennox International Inc.
- Mitsubishi Electric Corporation
- Rheem Manufacturing Company
- SAMSUNG
- Trane
- Midea
- Danfoss AS
- Munters
- Frigidaire HVAC
- Bosch Group
- STULZ Air Technology Systems, Inc.
- Honeywell International Inc.
- Others
1. Carrier Corporation
Headquarters – Palm Beach Gardens, Florida, United States
Carrier Corporation, a global leader in the HVAC market, has its headquarters in Palm Beach Gardens, Florida, United States. Carrier Corporation is a global leader in contemporary air conditioning technology, with operations in over 160 countries. The company, known for its energy-efficient and sustainable HVAC systems, provides superior temperature control solutions for residential, commercial, and industrial applications. Its smart HVAC technology advancements assist in decreasing environmental impact and enhance indoor air quality, propelling it to the worldwide market-leading position.
2. DAIKIN INDUSTRIES Ltd.
Headquarters – Osaka, Japan
The headquarters of DAIKIN INDUSTRIES Ltd. are located in Osaka, Japan. Daikin is the largest manufacturer of HVAC systems in the world, with operations in over 170 countries. The firm is well-known for innovations, which include inverter-driven systems and environmentally friendly refrigerants. Daikin manufactures high-efficiency heating and cooling systems for homes, companies, and industrial facilities. Furthermore, the company is deeply engaged in sustainability and worldwide expansion via ongoing research and development.
3. Fujitsu
Headquarters – Tokyo, Japan
The headquarters of Fujitsu are located in Tokyo, Japan. The firm is well-known for developing space-efficient, silent, and energy-saving air conditioning solutions, particularly for residential and light commercial applications. Fujitsu's HVAC division, Fujitsu General, operates in about 120 countries. The systems prioritize indoor air quality by utilizing superior filtration and inverter technology. Its expanding global footprint demonstrates its dedication to climate control innovation and comfort.
4. Haier Group
Headquarters – Qingdao, Shandong, China
The headquarters of Haier Group are located in Qingdao, Shandong, China. Haier is a global leader in home appliances and HVAC systems, with operations in over 100 countries. The company's HVAC solutions are designed to integrate smart technology, be energy efficient, and adapt to different climates. Haier's increased investment in IoT-driven solutions seeks to give modern families and businesses smooth, intelligent, and environmentally friendly temperature management systems.
5. Panasonic Corporation
Headquarters – Kadoma, Osaka, Japan
The headquarters of Panasonic Corporation are located in Kadoma, Osaka, Japan. Panasonic has clients in more than 120 countries and provides a diverse variety of HVAC solutions that focus on energy efficiency and clean air technologies. Technologies, including nano-filtration and inverter compressors, are widely used in both home and commercial sectors. The brand's focus on sustainability and health-conscious air solutions contributes to its great worldwide presence.
Are you ready to discover more about the HVAC market?
The report provides an in-depth analysis of the leading companies operating in the global HVAC 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.
- Fujitsu
- Haier Group
- Panasonic Corporation
- AAON
- Johnson Controls
- LG Electronics
- Lennox International Inc.
- Mitsubishi Electric Corporation
- Rheem Manufacturing Company
- SAMSUNG
- Trane
- Midea
- Danfoss AS
- Munters
- Frigidaire HVAC
- Bosch Group
- STULZ Air Technology Systems, Inc.
- Honeywell International Inc.
- Others
Conclusion
The global HVAC sector is steadily expanding, propelled by rapid urbanization, increased building activity, and growing concern about indoor air quality. Technological breakthroughs like IoT-enabled equipment, AI-based predictive maintenance, and renewable energy integration are altering the industry. Due to tight environmental restrictions and consumer preferences for sustainable living, there is an increase in demand for energy-efficient and eco-friendly HVAC systems. Additionally, changing climate conditions and an expanding real estate industry in places such as the Asia Pacific, North America, and Europe are driving demand. The market outlook is still positive, with ongoing innovation defining the future of heating and cooling systems.
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