Mexico - North America Hvac Systems Market Size & Outlook
Global Report
Related Markets
Mexico hvac systems market highlights
- The Mexico hvac systems market generated a revenue of USD 2,544.8 million in 2024 and is expected to reach USD 4,908.2 million by 2033.
- The Mexico market is expected to grow at a CAGR of 7.5% from 2025 to 2033.
- In terms of segment, commercial 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 2,544.8 million |
| Market revenue in 2033 | USD 4,908.2 million |
| Growth rate | 7.5% (CAGR from 2025 to 2033) |
| Largest segment | Commercial |
| 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, Mexico accounted for 1.1% 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.
According to the World Economic Outlook of the International Monetary Fund (IMF), the GDP growth rate of Mexico dropped by 8.24% in 2020. This decline was caused by the nationwide lockdown imposed in the country in 2020 to limit the spread of COVID-19.
According to the OECD, the GDP of Mexico grew by 1.9% in 2022 and is projected to rise by 2.1% in 2023. An increase in consumer awareness regarding the requirement for maintaining indoor air quality, the prevalence of airborne diseases, and a surge in death rates due to respiratory diseases have led to a risen adoption of proper temperature control, ventilation, and dehumidification systems in residential and commercial spaces in Mexico.
This, in turn, is anticipated to surge investments in new HVAC technologies in the country in the coming years. According to the National Renewable Energy Laboratory (NREL) of the U.S., the total energy demand from Mexico is projected to rise at an average rate of 3.5% per year over the next decade and the government of the country has set a clean energy generation target of 35% by 2024.
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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 |
Mexico - North America 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.
Commercial was the largest segment with a revenue share of 45.91% in 2024.
Horizon Databook has segmented the Mexico - North America hvac systems market based on residential, commercial, industrial covering the revenue growth of each sub-segment from 2021 to 2033.
According to the World Economic Outlook of the International Monetary Fund (IMF), the GDP growth rate of Mexico dropped by 8.24% in 2020. This decline was caused by the nationwide lockdown imposed in the country in 2020 to limit the spread of COVID-19.
According to the OECD, the GDP of Mexico grew by 1.9% in 2022 and is projected to rise by 2.1% in 2023. An increase in consumer awareness regarding the requirement for maintaining indoor air quality, the prevalence of airborne diseases, and a surge in death rates due to respiratory diseases have led to a risen adoption of proper temperature control, ventilation, and dehumidification systems in residential and commercial spaces in Mexico.
This, in turn, is anticipated to surge investments in new HVAC technologies in the country in the coming years. According to the National Renewable Energy Laboratory (NREL) of the U.S., the total energy demand from Mexico is projected to rise at an average rate of 3.5% per year over the next decade and the government of the country has set a clean energy generation target of 35% by 2024.
- Mexico - North America Hvac Systems Market Application Outlook (Revenue, USD million , 2021-2033)
- Residential
- Commercial
- Industrial
- Mexico - North America Hvac Systems Market Equipment Outlook (Revenue, USD million , 2021-2033)
- Heating
- Ventilation
- Cooling
- Mexico - North America 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 Mexico - North America HVAC Systems Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Mexico - North America HVAC Systems Market Outlook from 2021 to 2033, including revenue numbers, major trends, and company profiles.
Mexico - North America Hvac Systems Market, 2021-2033 (US$M)
Mexico Application - Hvac Systems Market Statistics, 2024 - 2033 (US$M)
