Canada Hvac Systems Market Size & Outlook, 2024-2033
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Canada hvac systems market highlights
- The Canada hvac systems market generated a revenue of USD 365.8 million in 2024 and is expected to reach USD 623.1 million by 2033.
- The Canada market is expected to grow at a CAGR of 6.1% from 2025 to 2033.
- In terms of segment, ventilation was the largest revenue generating product in 2024.
- Heating is the most lucrative product segment registering the fastest growth during the forecast period.
Hvac systems market data book summary
| Market revenue in 2024 | USD 365.8 million |
| Market revenue in 2033 | USD 623.1 million |
| Growth rate | 6.1% (CAGR from 2025 to 2033) |
| Largest segment | Ventilation |
| Fastest growing segment | Heating |
| Historical data | 2021 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Heating, Ventilation, Cooling |
| 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 3.0% of the global hvac systems market in 2024.
- Country-wise, U.S. 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 419.2 million by 2033.
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HVAC Systems Market Scope
HVAC Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
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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 will help companies and investors design strategic landscapes.
Ventilation was the largest segment with a revenue share of 44.61% in 2024. Horizon Databook has segmented the Canada hvac systems market based on heating, ventilation, cooling 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.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada hvac systems market , including forecasts for subscribers. This country databook contains high-level insights into Canada hvac systems market from 2021 to 2033, including revenue numbers, major trends, and company profiles.
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Canada hvac systems market size, by product, 2021-2033 (US$M)
Canada HVAC Systems Market Outlook Share, 2024 & 2033 (US$M)
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