Asia Pacific Hvac Systems Market Size & Outlook, 2024-2033

The hvac systems market in Asia Pacific is expected to reach a projected revenue of US$ 8,333.3 million by 2033. A compound annual growth rate of 6.6% is expected of Asia Pacific hvac systems market from 2025 to 2033.
Revenue, 2024 (US$M)
$4,678.9
Forecast, 2033 (US$M)
$8,333.3
CAGR, 2025 - 2033
6.6%
Report Coverage
Asia Pacific

Asia Pacific hvac systems market, 2021-2033 (US$M)

Asia Pacific hvac systems market, 2021-2033 (US$M)

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Asia Pacific hvac systems market highlights

  • The Asia Pacific hvac systems market generated a revenue of USD 4,678.9 million in 2024.
  • The market is expected to grow at a CAGR of 6.6% from 2025 to 2033.
  • In terms of segment, ventilation was the largest revenue generating product in 2024.
  • Cooling is the most lucrative product segment registering the fastest growth during the forecast period.
  • Country-wise, Malaysia is expected to register the highest CAGR from 2025 to 2033.


Asia Pacific data book summary

Market revenue in 2024USD 4,678.9 million
Market revenue in 2033USD 8,333.3 million
Growth rate6.6% (CAGR from 2025 to 2033)
Largest segmentVentilation
Fastest growing segmentCooling
Historical data covered2021 - 2023
Base year for estimation2024
Forecast period covered2025 - 2033
Quantitative unitsRevenue in USD million
Market segmentationHeating, Ventilation, Cooling
Key market players worldwideCarrier Global Corp Ordinary Shares, Daikin Industries Ltd, Fujitsu Ltd, Haier, Hitachi Ltd, Johnson Controls International PLC, LG Electronics Inc ADR, Lennox International Inc, Mitsubishi Electric Corp, Samsung Electronics Co Ltd, Trane Technologies PLC Class A


Other key industry trends

  • In terms of revenue, Asia Pacific region accounted for 38.3% of the global hvac systems market in 2024.
  • Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2033.
  • Asia Pacific is the fastest growing regional market and is projected to reach USD 8,333.3 million by 2033.

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HVAC Systems Market Companies

Name Profile # Employees HQ Website
Trane Technologies PLC Class A View profile 40000 170/175 Lakeview Drive, Airside Business Park, Swords County, Dublin, Ireland https://www.tranetechnologies.com
Lennox International Inc View profile 12600 2140 Lake Park Boulevard, Richardson, TX, United States, 75080 https://www.lennox.com
Haier View profile 10001+ Qingdao Shi, Shandong, China, Asia http://haier.com/in
Carrier Global Corp Ordinary Shares View profile 53000 13995 Pasteur Boulevard, Palm Beach Gardens, FL, United States, 33418 https://www.corporate.carrier.com
Daikin Industries Ltd View profile 107127 Umeda Center Building, 2-4-12, Nakazaki-Nishi, Kita-ku, Osaka, Japan, 530-8323 http://www.daikin.com
LG Electronics Inc ADR View profile 35111 Twin Tower 128, Yeoui-daero, Yeongdeungpo-gu, Seoul, Korea, Republic of, 07336 https://www.lge.co.kr
Samsung Electronics Co Ltd View profile 124804 129, Samsung-ro, Yeongtong-gu, Gyeonggi-do, Suwon-si, Korea, Republic of, 443-742 https://www.samsung.com
Mitsubishi Electric Corp View profile 149134 Tokyo Building, 2-7-3, Marunouchi, Chiyoda-ku, Tokyo, Japan, 100-8310 https://www.mitsubishielectric.com
Johnson Controls International PLC View profile 102000 One Albert Quay, Cork, Ireland, T12 X8N6 https://www.johnsoncontrols.com
Hitachi Ltd View profile 322525 6-6, Marunouchi 1-chome, Chiyoda-ku, Tokyo, Japan, 100-8280 http://www.hitachi.com
Fujitsu Ltd View profile 124055 Shiodome City Center, 1-5-2 Higashi-Shimbashi, Minato-ku, Tokyo, Japan, 105-7123 http://www.fujitsu.com

Asia Pacific hvac systems market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to hvac systems market will help companies and investors design strategic landscapes.


Ventilation was the largest segment with a revenue share of 42.23% in 2024. Horizon Databook has segmented the Asia Pacific hvac systems market based on heating, ventilation, cooling covering the revenue growth of each sub-segment from 2021 to 2033.


Asia Pacific is the fastest-growing region in the world, contributing to over two-thirds of global economic growth. According to a report by the International Monetary Fund (IMF), the GDP growth in Asia Pacific contracted by 1.5% in 2020, in light of containment measures and global economic slowdown during the COVID-19 pandemic. 

The region’s GDP growth is expected to rebound to 4.6% in 2023. Factors such as improving economic conditions, rapid industrialization, and commercialization are anticipated to have a positive impact on the HVAC systems market growth. 

Asia Pacific is characterized by the availability of skilled labor at low cost. The shift in the production bases to emerging economies, India, and China, is expected to positively influence the growth of the HVAC systems market over the forecast period. The industrial sector is one of the largest consumers of HVAC systems in China. 

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Target buyers of Asia Pacific hvac systems market databook

  • Our clientele includes a mix of hvac systems market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific hvac systems market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific hvac systems market from 2021 to 2033, including revenue numbers, major trends, and company profiles.

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Asia Pacific hvac systems market size, by country, 2021-2033 (US$M)

Asia Pacific HVAC Systems Market Outlook Share, 2024 & 2033 (US$M)

Asia Pacific hvac systems market size, by country, 2021-2033 (US$M)

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