Commercial HVAC Market Size to Grow by USD 136.45 Billion by 2031 Due to Rise in Construction Projects Worldwide, Increase in Temperatures and Unpredictable Weather Patterns - The Insight Partners

The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Commercial HVAC Market includes a wide variety of equipment types, implementations, and applications that are expected to register strength in the coming years.

/EIN News/ -- US & Canada, May 22, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the Commercial HVAC Market is observing significant growth owing to the increase in temperatures and unpredictable weather patterns and strict government regulations.

The Commercial HVAC (Heating, Ventilation, and Air Conditioning) market is rapidly growing due to increasing urbanization, rising demand for energy-efficient systems, and climate change awareness. It serves residential, commercial, and industrial sectors, with innovations focusing on smart and sustainable technologies. The market is expected to continue expanding, driven by new construction and retrofitting projects.

To explore the valuable insights in the Commercial HVAC Market report, you can easily download a sample PDF of the report – https://www.theinsightpartners.com/sample/TIPRE00011156

Overview of Report Findings

      1.   Market Growth: The Commercial HVAC Market was valued at US$ 79.30 billion in 2024 and is projected to reach US$ 136.45 billion by 2031; it is expected to register a CAGR of 8.2% during 2025-2031. 

      2.   Government Regulations: Governments worldwide have been incorporating various standards regarding HVAC systems; these include eco-design regulation, system installation, and energy conservation standards. In November 2023, EPEE, a European trade organization member, finalized preferred ideas to change a key component of the Eco-design standards for bigger HVACR technologies such as chillers and VRF systems. The organization stated that it recently gathered a group of manufacturing specialists for a workshop to begin preliminary work on developing a formal position for its members who intend to steer modifications to Lot 21 of Eco-design. The Eco-design Directive establishes performance standards for a variety of energy-consuming items. The restrictions cover a wide range of products, including heating and cooling systems and commercial technologies.

      3.   Growing Number of Data Centers: The increased demand for computing power and data storage, as well as the development of data-intensive technologies such as AI and cloud computing, are driving the global demand for data centers. This growth is supported by factors such as the demand for digital infrastructure, developing technologies, and government regulations that encourage the creation of these facilities. Due to this rising demand for data centers, governments of various nations, as well as different companies, are taking various initiatives for the construction of data centers. For instance, in February 2023, the government of Maharashtra signed a memorandum of understanding (MoU) with UK-based Ark Data Centers and Japan's Nippon Telegraph and Telephone (NTT) for the construction of two new data centers in Pune. The MoU with NTT covers an investment of US$ 2.5 billion for the development of data centers in Pune, Mumbai, Thane, and Nagpur. This project generated the demand for cooling fans to manage temperature ranges and reduce overheating in the data centers. Similarly, in June 2023, Amazon.com, Inc. announced plans to invest US$ 7.8 billion by 2030 to expand the construction of a data center in Ohio. This data center aims to be powered by at least 95% renewable energy. The company is committed to reaching net-zero carbon emissions by 2040 and powering operations with 100% renewable energy by 2025. Also, the Paris-Saclay Campus Data Center Expansion project is for the expansion of eleven data centers in Paris, France, with a total power capacity of 5MW. Construction began in 2024 and is anticipated to be completed by the end of 2029.

      4.   Smart HVAC Systems: As businesses prioritize operational efficiency and sustainability, integrating smart technologies into HVAC systems becomes increasingly important. Latest developments in Internet of Things (IoT) technology are accelerating the transition to smart HVAC solutions. These systems use networked devices and sensors to monitor and control indoor climatic conditions in real time. Businesses can use data analytics to optimize energy use, decrease waste, and guarantee occupant comfort levels remain consistent. This transformation aims to improve performance while also aligning with broader sustainability goals. Additionally, the emergence of AI and machine learning (ML) is unleashing significant data-driven insights, assisting in optimizing system operations, extending equipment lifespan, and tailoring climate control to occupant needs. These technologies also enable smarter retrofitting decisions and better design planning in both new and existing structures.

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Market Segmentation

• Based on equipment type, the market is segmented into cooling equipment, heating equipment, and ventilation equipment. The cooling equipment segment is subsegmented into unitary air conditioners, chillers, coolers, VRF systems, and others. The heating equipment segment is further segmented into boilers, heat pumps, furnaces, and space heaters. The ventilation equipment segment is subsegmented into ventilation equipment type and ventilation systems type. The ventilation equipment type segment is further divided into air handling units (AHUs), ventilation fans, air filters and air purifiers, roof vents, and others. Also, the ventilation systems type segment is further divided into controlled mechanical ventilation (CMV), natural ventilation, and hybrid/mixed-mode ventilation. The contract surety bond segment dominated the market in 2024.
  
• Based on implementation, the market is segmented into new installation and retrofit. The new installation segment dominated the market in 2024.
  
• Based on application, the market is segmented into office buildings, hotels and restaurants, hospitals and clinics, the transportation industry, and others. The office buildings segment dominated the market in 2024.

Competitive Strategy and Development

• Key Players: Major companies operating in the Commercial HVAC Market include Schneider Electric SE, Carrier Global Corp, Daikin Industries Ltd, Honeywell International Inc, Johnson Controls International Plc, Danfoss AS, Lennox International Inc, LG Electronics Inc, Mitsubishi Electric Corp, Samsung Electronics Co Ltd, Trane Technologies Plc, and AAON Inc.
  
• Trending Topics: HVAC Chillers Market, Smart HVAC Controls Market, and HVAC System Market
  
  

Global Headlines on Commercial HVAC Market

Trane has introduced two new air-cooled chillers designed for chilled water cooling in facilities: The Magnetic Bearing chillers and the Ascend chillers.

Daikin Applied announced the addition of air-source heat pumps to its award-winning lineup of Rebel and Rebel Applied packaged rooftop systems. With electricity-powered.

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Conclusion

Commercial HVAC systems are usually much larger than residential ones. Larger properties require more power to adequately heat, cool, and ventilate, and commercial buildings are often far larger than houses. Commercial HVAC systems are generally more complex owing to their larger size and higher power requirements. HVAC demands in a commercial structure might also be more complex, as different parts of a building may require different temperatures and ventilation. Commercial HVAC systems also consist of a packaged unit, with all equipment housed in a single cabinet. This allows the entire unit to be moved or altered as needed to accommodate changing business conditions. Furthermore, they are designed according to the special requirements of large-scale buildings, ensuring high indoor air quality, energy efficiency, and occupant comfort.

The growing number of commercial construction projects worldwide is one of the main factors fueling the growth of the commercial HVAC market. Various countries across the world have different commercial construction projects, such as office construction, airport construction, and mall construction. For instance, in Q4 of 2024, the construction of the N3-5 project was started. The project involves the construction of a 13-story office building in Japan. The project is forecasted to be completed in Q4 2026. In addition, as per Copernicus, 2024 was the warmest year in a global temperature record spanning many datasets dating back to 1850. Thus, the rising temperature and weather conditions worldwide are increasing the demand for HVAC systems. Also, the strict laws and regulations by the governments of various countries, particularly regarding the use of refrigerants, are propelling the demand for eco-friendly and smart HVAC systems.

The growing demand for data storage and increasing development of data-intensive technologies such as AI and cloud computing are leading to the construction of new data centers worldwide, creating an opportunity for the growth of the commercial HVAC market. Also, the growing inclination of firms toward retrofitting to meet regulatory requirements and have more energy-efficient HVAC systems is creating an opportunity for market growth. Moreover, the increasing demand for smart HVAC systems and inclination toward the HVAC as a service market are expected to propel the market's growth in the coming years.

The report from The Insight Partners, therefore, provides several stakeholders—including solution providers, system integrators, and end users —with valuable insights to successfully navigate this evolving market landscape and unlock new opportunities.

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