Canada Hvac Systems Market Size & Outlook, 2025-2033
Global Report
Related Markets
Canada hvac systems market highlights
- The Canada hvac systems market generated a revenue of USD 5,948.9 million in 2024 and is expected to reach USD 11,128.7 million by 2033.
- The Canada market is expected to grow at a CAGR of 7.3% from 2025 to 2033.
- In terms of segment, residential was the largest revenue generating application in 2024.
- Commercial is the most lucrative application segment registering the fastest growth during the forecast period.
Hvac systems market data book summary
| Market revenue in 2024 | USD 5,948.9 million |
| Market revenue in 2033 | USD 11,128.7 million |
| Growth rate | 7.3% (CAGR from 2025 to 2033) |
| Largest segment | Residential |
| Fastest growing segment | Commercial |
| Historical data | 2021 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Residential, Commercial, Industrial |
| Key market players worldwide | Carrier 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, Canada accounted for 2.5% of the hvac systems market in 2024.
- Country-wise, China is expected to lead the global market in terms of revenue in 2033.
- In North America, U.S. hvac systems market is projected to lead the regional market in terms of revenue in 2033.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 4,908.2 million by 2033.
The HVAC systems market in Canada is growing owing to the flourishing construction industry in the country. The growth of the construction industry in Canada can be attributed to the surged demand for residential, commercial, and industrial spaces in the country.
The Government of Canada intends to spend USD 22.1 billion on social infrastructure development projects and residential building construction activities until 2027. Moreover, the government of the country is projected to invest USD 142.9 billion in infrastructure development projects over 12 years till 2028 under its Investing in Canada program.
These factors are anticipated to drive the demand for HVAC systems in Canada over the forecast period. Residential heating is a key component of the national energy consumption in cold-weather nations and accounts for its considerable share. All these factors are anticipated to drive the demand for energy-efficient heating solutions in Canada over the projected period.
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Publish Date: Oct 17, 2025
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HVAC Systems Market Scope
HVAC Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Fujitsu Ltd | View profile | 124,055 | Shiodome City Center, 1-5-2 Higashi-Shimbashi, Minato-ku, Tokyo, Japan, 105-7123 | www.fujitsu.com |
| Hitachi Ltd | View profile | 322,525 | 6-6, Marunouchi 1-chome, Chiyoda-ku, Tokyo, Japan, 100-8280 | www.hitachi.com |
| Johnson Controls International PLC | View profile | 102,000 | One Albert Quay, Cork, Ireland, T12 X8N6 | www.johnsoncontrols.com |
| Mitsubishi Electric Corp | View profile | 149,134 | Tokyo Building, 2-7-3, Marunouchi, Chiyoda-ku, Tokyo, Japan, 100-8310 | www.mitsubishielectric.com |
| Samsung Electronics Co Ltd | View profile | 124,804 | 129, Samsung-ro, Yeongtong-gu, Gyeonggi-do, Suwon-si, Korea, Republic of, 443-742 | www.samsung.com |
| LG Electronics Inc ADR | View profile | 35,111 | Twin Tower 128, Yeoui-daero, Yeongdeungpo-gu, Seoul, Korea, Republic of, 07336 | www.lge.co.kr |
| Daikin Industries Ltd | View profile | 107,127 | Umeda Center Building, 2-4-12, Nakazaki-Nishi, Kita-ku, Osaka, Japan, 530-8323 | www.daikin.com |
| Carrier Global Corp Ordinary Shares | View profile | 53,000 | 13995 Pasteur Boulevard, Palm Beach Gardens, FL, United States, 33418 | www.corporate.carrier.com |
| Haier | View profile | 10001+ | Qingdao Shi, Shandong, China, Asia | haier.com/in |
| Lennox International Inc | View profile | 12,600 | 2140 Lake Park Boulevard, Richardson, TX, United States, 75080 | www.lennox.com |
Canada 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 Outlook will help companies and investors design strategic landscapes.
Residential was the largest segment with a revenue share of 41.57% in 2024.
Horizon Databook has segmented the Canada hvac systems market based on residential, commercial, industrial covering the revenue growth of each sub-segment from 2021 to 2033.
The HVAC systems market in Canada is growing owing to the flourishing construction industry in the country. The growth of the construction industry in Canada can be attributed to the surged demand for residential, commercial, and industrial spaces in the country.
The Government of Canada intends to spend USD 22.1 billion on social infrastructure development projects and residential building construction activities until 2027. Moreover, the government of the country is projected to invest USD 142.9 billion in infrastructure development projects over 12 years till 2028 under its Investing in Canada program.
These factors are anticipated to drive the demand for HVAC systems in Canada over the forecast period. Residential heating is a key component of the national energy consumption in cold-weather nations and accounts for its considerable share. All these factors are anticipated to drive the demand for energy-efficient heating solutions in Canada over the projected period.
- Canada Hvac Systems Market Application Outlook (Revenue, USD million , 2021-2033)
- Residential
- Commercial
- Industrial
- Canada Hvac Systems Market Equipment Outlook (Revenue, USD million , 2021-2033)
- Heating
- Ventilation
- Cooling
- Canada Hvac Systems Market Distribution Channel Outlook (Revenue, USD million , 2021-2033)
- Online
- Retail Stores
- Wholesale Stores
- Others
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada HVAC Systems Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Canada HVAC Systems Market Outlook from 2021 to 2033, including revenue numbers, major trends, and company profiles.
Canada Hvac Systems Market, 2021-2033 (US$M)
Canada Application - Hvac Systems Market Statistics, 2024 - 2033 (US$M)
