China Hvac Systems Market Size & Outlook, 2024-2033
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China hvac systems market highlights
- The China hvac systems market generated a revenue of USD 1,993.7 million in 2024 and is expected to reach USD 3,513.2 million by 2033.
- The China market is expected to grow at a CAGR of 6.5% 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 1,993.7 million |
| Market revenue in 2033 | USD 3,513.2 million |
| Growth rate | 6.5% (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, China accounted for 16.3% 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 Asia Pacific, China hvac systems market is projected to lead the regional market in terms of revenue in 2033.
- Malaysia is the fastest growing regional market in Asia Pacific and is projected to reach USD 202.3 million by 2033.
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HVAC Systems Market Scope
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 |
China 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 41.12% in 2024. Horizon Databook has segmented the China hvac systems market based on heating, ventilation, cooling covering the revenue growth of each sub-segment from 2021 to 2033.
Major HVAC system manufacturing companies are shifting or expanding their production capacities to China to leverage the benefits of low labor costs. China, being the largest producer of heat pumps, ACs, and dehumidifiers, has attracted several manufacturers to the region. Moreover, the Trans-Pacific Partnership Agreement, of which China is a member, is projected to influence trade positively.
Various industries such as semiconductors, automotive, and lithium-ion batteries are continuously expanding in China, which is creating the demand for new dehumidifiers. Lithium-ion battery production demands strict humidity controls, which is below 1% relative humidity. High-performance dehumidifiers achieve this level of relative humidity.
According to the Ministry of Industry and Information Technology (MIIT), total lithium-ion battery production in the country reached 750 GWh in 2022, exhibiting an increase of 130% from 2021. Various government initiatives and subsidiary plans are expected to affect the HVAC systems market growth in the country.
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Target buyers of China hvac systems market databook
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Our clientele includes a mix of hvac systems market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the China hvac systems market , including forecasts for subscribers. This country databook contains high-level insights into China hvac systems market from 2021 to 2033, including revenue numbers, major trends, and company profiles.
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China hvac systems market size, by product, 2021-2033 (US$M)
China HVAC Systems Market Outlook Share, 2024 & 2033 (US$M)
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