APAC HVAC Market - Focused Insights 2023-2028

Published Date :  JUL 2023

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Unlock the potential of APAC to be one of the fastest-growing markets in the world. Our comprehensive report provides in-depth insights into the booming APAC HVAC industry, covering consumer behavior, adoption trends, and strategic opportunities.

The APAC HVAC market was valued at around $102.17 billion in 2022 and is expected to reach $148.59 billion by 2028, growing at a CAGR of 6.4% during 2022-2028.

The APAC HVAC market is on a rapid growth trajectory. Our comprehensive report provides valuable insights into consumer purchasing behavior and the widespread adoption of HVAC systems across various end-user applications. As sectors with high standards and expectations continue to embrace HVAC solutions, regulatory compliance and robust manufacturing are essential for market success. The residential sector stands at the forefront, driven by diverse climatic conditions that demand a versatile range of HVAC equipment.

Be at the forefront of this transformational market by leveraging strategic agreements, acquisitions, and collaborations with emerging players. Our report highlights the pathways major players are taking to enter the APAC HVAC market, gaining access to commercially launched products and securing their position as industry leaders.

KEY HIGHLIGHTS:

  • The APAC region has constantly been the largest HVAC system market due to its population, rising urbanization, climatic conditions, and demographic changes. Major economies in the APAC region, including China, Japan, and India, are witnessing increasing commercial construction activities due to an expanding number of companies in various sectors setting up their offices in distinct regions to capture the potential customer base.
  • Switching from disintegrating fluorinated system equipment to natural refrigerants in energy-efficient systems is encouraged by the regulatory authorities of HVAC manufacturers. This measure helps to propel the growth rate of HVAC systems in the APAC region.
  • The growing consumer awareness of energy efficiency, climate change challenges, and rising energy bills is a major growth driver for the energy-efficient HVAC market. The two economic giants of APAC are China and India, which experience significant demand for HVAC systems. Construction activities, rapid urbanization, and industrialization are propelling the sales growth for HVAC systems in the APAC region.
  • Environmental agencies and governments are initiating the formulation of policies for AC refrigerant and HVAC system manufacturers, suppliers, and service providers. This will facilitate the introduction of modern HVAC systems with low GWP. Key HVAC manufacturers are developing the R-717 refrigerant with the lowest GWP (Global Warming Potential). This effort aims to address the growing concerns of global warming and the depletion of the ozone layer.
  • Due to spiking urbanization, the APAC market construction industry projected significant growth in 2022. Demand for residential construction remains strong in developing economies, with multiple real estate projects underway in various industrial, residential, and commercial development zones. The current trend is expected to gain momentum, making the new construction sector a crucial growth factor for APAC HVAC players.
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Summary

SEGMENTATION & FORECAST

• Equipment (Revenue)

• Heating

                   ▪ Heat Pumps

                   ▪ Boiler Units

                   ▪ Furnaces

                   ▪ Others

• Air Conditioning

                   ▪ RACs

                   ▪ CACs

                   ▪ Chillers

                   ▪ Heat Exchangers

                   ▪ Others

• Ventilation

                   ▪ Air Handling Units

                   ▪ Air Filters

                   ▪ Humidifiers & Dehumidifiers

                   ▪ Fan Coil Units

                   ▪ Others                   

• End-User (Revenue)

• Residential

• Commercial

                   ▪ Office Space

                   ▪ Airport & Public Utilities

                   ▪ Hospitality

                   ▪ Hospitals

                   ▪ Industrial & Others

Key Vendors

• Daikin

• Carrier

• Johnson Controls 

• Mitsubishi Electric

• Samsung

• LG

Other Prominent Vendors

• Panasonic

• Rheem Manufacturing

• Lennox International 

• Ingersoll Rand

• Systemair

• Ostberg

• Honeywell

• Danfoss

• Alfa Laval

• Zehnder

• S & P

• Hitachi

• TCL Electronics 

• Camfil

• Dunham Bush 

• Backer Springfield

• Fujitsu

• Midea

• Grundfos 

• VTS

• Nuaire 

• LU-VE

• Wolf

• Vaillant Group

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APAC HVAC Market - Focused Insights 2023-2028DOWNLOAD SAMPLE

Please Note : Arizton critically analyzes the industry and market sectors to provide reliable and valuable market intelligence. The research-based knowledge empowers clients to formulate intelligent strategies, resulting in creative, cost-effective, and efficient execution.

Table Of Contents

• Executive Summary

• Introduction

• Key Findings

• APAC: Projected Revenue of HVAC (2022-2028; $Billions)

• APAC: Projected Revenue by Equipment (2022-2028); (Revenue $BN)

  • Heating
  • Product Snapshot
  • Heat Pumps
  • Boiler Units
  • Furnaces
  • Others
  • Air Conditioning
  • Product Snapshot
  • RACs
  • CACs
  • Chillers
  • Heat Exchangers
  • Others
  • Ventilation
  • Product Snapshot
  • Air Handling Units
  • Air Filters
  • Humidifiers & Dehumidifiers
  • Fan Coil Units
  • Others                   

• APAC: Projected Revenue by End-User (2022-2028); (Revenue $BN)

  • Residential
  • Commercial
  • End-user Snapshot
  • Office Space
  • Airport & Public Utilities
  • Hospitality
  • Hospitals
  • Industrial & Others

• APAC HVAC Market Trends

• APAC HVAC Market Drivers

• APAC HVAC Market Constraints

• APAC HVAC Market - Competitive Landscape

• APAC HVAC Market - Key Players

• APAC HVAC Market – Other Prominent Vendors

• Research Methodology

• Abbreviations

• About Arizton

Exhibit 1: APAC HVAC Market- Historic Scenario ($ billion)

Exhibit 2: Historic Scenario: Heating Equipment 2018–2028 ($ billion)

Exhibit 3: Historic Scenario: Air Conditioning Equipment 2018–2028 ($ billion)

Exhibit 4: Historic Scenario: Ventilation Equipment 2018–2028 ($ billion)

Exhibit 5: Historic Scenario: Residential End-user 2018–2028 ($ billion)

Exhibit 6: Historic Scenario: Commercial End-user 2018–2028 ($ billion)

Exhibit 7: Projected Revenue of APAC HVAC Market ($ billion)

Exhibit 8: Projected Revenue of APAC HVAC Market by Equipment: Heating ($ billion)

Exhibit 9: Projected Revenue of APAC HVAC Market by Heating Equipment Types 2022–2028 ($ billion)

Exhibit 10: Projected Revenue of APAC HVAC Market by Heating Equipment: Heat Pump ($ billion)

Exhibit 11: Projected Revenue of APAC HVAC Market by Heating Equipment: Boiler Unit ($ billion)

Exhibit 12: Projected Revenue of APAC HVAC Market by Heating Equipment: Furnace ($ billion)

Exhibit 13: Projected Revenue of APAC HVAC Market by Heating Equipment: Others ($ billion)

Exhibit 14: Projected Revenue of APAC HVAC Market by Equipment: Air Conditioning ($ billion)

Exhibit 15: Projected Revenue of APAC HVAC Market by Air Conditioning Equipment Types 2022–2028 ($ billion)

Exhibit 16: Projected Revenue of APACHVAC Market by Air Conditioning Equipment: RAC ($ billion)

Exhibit 17: Projected Revenue of APAC HVAC Market by Air Conditioning Equipment: CAC ($ billion)

Exhibit 18: Projected Revenue of APAC HVAC Market by Air Conditioning Equipment: Chillers ($ billion)

Exhibit 19: Projected Revenue of APAC HVAC Market by Air Conditioning Equipment: Heat Exchangers ($ billion)

Exhibit 20: Projected Revenue of APAC HVAC Market by Air Conditioning Equipment: Others ($ billion)

Exhibit 21: Projected Revenue of APAC HVAC Market by Equipment: Ventilation ($ billion)

Exhibit 22: Projected Revenue of APAC HVAC Market by Ventilation Equipment Types 2022–2028 ($ billion)

Exhibit 23: Projected Revenue of APAC HVAC Market by Ventilation Equipment: Air Handling Units ($ billion)

Exhibit 24: Projected Revenue of APAC HVAC Market by Ventilation Equipment: Air Filters ($ billion)

Exhibit 25: Projected Revenue of APAC HVAC Market by Ventilation Equipment: Humidifiers & Dehumidifiers ($ billion)

Exhibit 26: Projected Revenue of APAC HVAC Market by Ventilation Equipment: Fan Coil Unit ($ billion)

Exhibit 27: Projected Revenue of APAC HVAC Market by Ventilation Equipment: Others ($ billion)

Exhibit 28: Projected Revenue of APAC HVAC Market by End-user: Residential ($ billion)

Exhibit 29: Projected Revenue of APAC HVAC Market by End-user: Commercial ($ billion)

Exhibit 30: Projected Revenue of APAC HVAC Market by Commercial End-user Types 2022–2028 ($ billion)

Exhibit 31: Projected Revenue of APAC HVAC Market by Commercial End-user: Office Space ($ billion)

Exhibit 32: Projected Revenue of APAC HVAC Market by Commercial End-user: Airport & Public Utility ($ billion)

Exhibit 33: Projected Revenue of APAC HVAC Market by Commercial End-user: Hospitality ($ billion)

Exhibit 34: Projected Revenue of APAC HVAC Market by Commercial End-user: Hospitals ($ billion)

Exhibit 35: Projected Revenue of APAC HVAC Market by Commercial End-user: Industrial & Others ($ billion)

Exhibit 36: Projected Revenue of APAC HVAC Market by Countries 2022–2028 ($ billion)

Exhibit 37: Projected Revenue of China HVAC Market ($ billion)

Exhibit 38: Projected Revenue of Japan HVAC Market ($ billion)

Exhibit 39: Projected Revenue of India HVAC Market ($ billion)

Exhibit 40: Projected Revenue of Australia HVAC Market ($ billion)

 

Table 1: Quantitative Summary Revenue APAC HVAC Market

Table 2: Quantitative Summary Projected Revenue by Equipment

Table 3: Quantitative Summary Projected Revenue by Heating Equipment

Table 4: Quantitative Summary Projected Revenue by Air Conditioning Equipment

Table 5: Quantitative Summary Projected Revenue by Ventilation Equipment

Table 6: Quantitative Summary Projected Revenue by End-user

Table 7: Quantitative Summary Projected Revenue by Commercial End-User

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Frequently Asked Questions

The APAC HVAC Market is estimated to be worth $148.59 Billion by 2028.

Key companies in the APAC HVAC Market include Daikin, Carrier, Johnson Controls, Mitsubishi Electric, Samsung, LG, Panasonic, Rheem Manufacturing, Lennox International and Ingersoll Rand.

APAC HVAC players set for growth surge as construction industry projects significant expansion in 2022.

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