A commercial HVAC system is used to regulate the temperature of a building’s interior. It also aids in the filtration and cleaning of indoor air to maintain humidity levels. When compared to domestic HVAC systems, commercial HVAC systems are larger. The thermostats, dampers, condenser fans, compressors, evaporators, and blowers are all part of a commercial HVAC system.
Commercial HVAC systems are divided into three categories: single split systems, multi-split systems, and VRF and VRV systems. For buildings with tiny offices, server rooms, stores, and restaurants, a single split system is a cheap and appropriate system. The rising number of data centers, rising need for HVAC systems to reduce energy usage, and government tax and rebate programs are all propelling the global market forward. Furthermore, factors such as urbanization and rising disposable per capita income are propelling the worldwide market forward.
Commercial HVAC Market is projected to be worth USD 142.97 billion by 2027, registering a CAGR of 6.86% during the forecast period (2021 - 2027), The market was valued at USD 97.31 billion in 2020
The major factors driving the growth of the global market includes the rising number of data centers, increasing demand for HVAC system to reduce energy consumption, and government tax and rebate programs. Moreover, factors such as growing population in urban areas and rising disposable per capita income are driving the growth of the global commercial HVAC equipment market.
Key Players
The key players operating in the global commercial HVAC market are United Technologies Corporation (US), Mitsubishi Corporation (Japan), Samsung Electronics Co., Ltd (South Korea), Daikin Industries Ltd (Japan), Haier Electronics Group Co. Ltd (China), Ingersoll Rand (Ireland), Johnson Controls (US), Farina Corporation (US), Edison Heating and Cooling (US), Lennox International Inc. (US), Rheem Manufacturing Company (US), AAON (US), Panasonic (Japan), Hitachi, Ltd. (Japan), and Danfoss (Denmark).
Industry News
- Building-block air purification modules from Air Rover are now available for commercial HVAC new construction and retrofits. The modules can be used individually or in combination, depending on the needs of the customer and the structure’s configuration. The APS Inline modules’ technologies are UL listed, certified, and consistent with ASHRAE, OSHA, and CDC criteria for commercial buildings, which includes medical facilities.
- India aims to invest USD 777.73 billion in infrastructure development by 2022, according to the India Brand Equity Foundation (IBEF), which is likely to boost the worldwide market during the forecast period. Due to rising temperatures as a result of global warming and the expanding construction industry, the worldwide commercial HVAC market is predicted to rise significantly over the forecast period.
- In April 2019, the Department of Energy (DOE) announced the Buildings Energy Efficiency Frontiers & Innovation Technologies (BENEFIT) 2019 Funding Opportunity (FOA) for up to USD 47 million for new low-cost energy technologies.
Key players in the global market, such as Mitsubishi Corporation and Samsung, supply commercial HVAC systems to commercial complexes. Moreover, there are various projects initiated by the US Department of Energy (DOE) for developing technologies to make energy more affordable. For instance, in April 2019, DOE announced the Buildings Energy Efficiency Frontiers & Innovation Technologies (BENEFIT) 2019 Funding Opportunity (FOA) for up to USD 47 million for innovative technologies to supply low cost energy.
A commercial HVAC system is designed to control the heating and cooling in commercial buildings. It also helps filter and clean the indoor air to maintain humidity levels. HVAC stands for heating, ventilating, and air-conditioning. A commercial HVAC system is larger compared to the ones used in the residential sector. A commercial HVAC system has components such as thermostats, dampers, condenser fans, compressors, evaporators, and blowers. Majorly, there are three categories of commercial HVAC systems, namely, single split systems, multi split systems, and VRF and VRV systems. A single split system is an affordable and appropriate system for buildings with small offices, server rooms, shops, and restaurants.
The global market of commercial HVAC has been segmented based on heating equipment, ventilation equipment, cooling equipment, implementation type, application, and region. On the basis of heating equipment, the global market is classified into heat pumps, furnaces, boilers, and unitary heaters. Heat pump segment is expected to be the fastest growing segment in the global market. A heat pump helps transfer heat from one point to another. The market for heat pumps in HVAC systems is growing owing to the efficient heating and cooling functions, along with the ability to heat water. On the basis of ventilation equipment, the global commercial HVAC market is segmented into humidifiers, dehumidifiers, air purifiers, air filters, ventilation fans, and air handling units. On the basis of application, the global market is segmented into large and small offices, hospitals, shopping malls, restaurants, and others. The large and small offices segment is estimated to register the highest growth rate during the forecast period.
The global commercial HVAC market is expected to grow at ~6.86% CAGR during the forecast period.
Market Segmentation 
The global commercial HVAC market is expected to witness substantial growth during the forecast period owing to the rising temperature due to global warming and the growing construction industry. According to India Brand Equity Foundation (IBEF), India plans to invest USD 777.73 billion in infrastructure development by 2022, which is expected to further drive the global market.
On the basis of region, the global market is segmented into Asia-Pacific, North America, Europe, and the rest of the world. Asia-Pacific holds the largest share in the market due to the increase in urbanization and government initiatives to ensure that energy-efficient HVAC systems are installed in newly constructed office buildings. Similarly, the growing industrialization and commercial construction in countries such as India, Australia, and Indonesia would drive the growth of the market in Asia-Pacific. Moreover, North America is expected to be the second-largest market for the commercial HVAC industry. The US is expected to dominate the market in North America, owing to the rising average construction spending and use of energy-efficient cooling systems.
Industry Updates
Air Rover has launched building-block air purification modules for commercial HVAC new construction and retrofits. The modules can be utilized separately or in combinations, resting upon the customer’s needs and the configuration of the building. The technologies inside the APS Inline modules are UL listed, certified, and compliant with ASHRAE, OSHA, and CDC guidelines for commercial buildings, which also includes medical environments.
Intended Audience
- Commercial HVAC manufacturers and distributors
- HVAC suppliers
- Government and research organizations
- Consulting companies in the power industry
- Investors and shareholders
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size |
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| CAGR | 6.86% CAGR (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Heating Type, Ventilation Type, Cooling Equipment, Implementation Type, Application |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | United Technologies Corporation (US), Mitsubishi Corporation (Japan), Samsung Electronics Co., Ltd (South Korea), Daikin Industries Ltd (Japan), Haier Electronics Group Co. Ltd (China), Ingersoll Rand (Ireland), Johnson Controls (US), Farina Corporation (US), Edison Heating and Cooling (US), Lennox International Inc. (US), Rheem Manufacturing Company (US), AAON (US), Panasonic (Japan), Hitachi, Ltd. (Japan), and Danfoss (Denmark) |
| Key Market Opportunities |
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| Key Market Drivers |
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Courtesy by – https://www.marketresearchfuture.com/