Research and Markets has added the “HVAC Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2026-2035” report to its offering, outlining expected expansion in the global HVAC market through 2035. The market was valued at USD 524.9 billion in 2025 and is estimated to grow at a CAGR of 8.1% to reach USD 1.2 trillion by 2035.
The report identifies rapid urban development as a key growth factor, as more buildings require reliable heating, ventilation, and air conditioning systems. Demand is also supported by consumer and business priorities around comfort, indoor air quality, energy efficiency, and sustainable building practices.
Air conditioning equipment generated USD 215.8 billion in 2025 and is expected to grow at a CAGR of 10.3% from 2026 to 2035. The source notes that the segment is supported by diverse cooling requirements, energy-efficient solutions, smart technologies, and environmentally friendly refrigerants.
The indirect distribution channel accounted for a 74% share in 2025 and is projected to grow at a CAGR of 10.1% from 2026 to 2035. According to the report, this channel is supported by distributor and service provider networks that provide product availability, installation, maintenance, technical expertise, and customer support.
The United States HVAC market reached USD 156.9 billion in 2025 and is expected to grow at a CAGR of 10.2% from 2026 to 2035. Growth is linked to demand for energy-efficient systems, urbanization, climate conditions, aging infrastructure upgrades, smart home technologies, and regulatory requirements for air quality and energy efficiency.
Companies named in the report include Bosch Thermotechnology, Carrier Global Corporation, Daikin Industries, Fujitsu General Limited, GREE Electric Appliances, Haier Smart Home, Johnson Controls International, Lennox International, LG Electronics, Midea Group, Mitsubishi Electric Corporation, Panasonic Corporation, Rheem Manufacturing Company, Samsung Electronics, and Trane Technologies.
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