HVAC Accessories Market Size To Reach $32.80 Billion By 2030

February 2025 | Report Format: Electronic (PDF)

HVAC Accessories Market Growth & Trends

The global HVAC accessories market is anticipated to reach USD 32.80 billion by 2030 and is expected to expand at a CAGR of 5.4% during the forecast period, according to a new report by Grand View Research, Inc. The HVAC accessories industry is primarily driven by the increasing demand for energy-efficient and environmentally friendly HVAC systems, spurred by consumer and regulatory pressure to reduce energy consumption and carbon emissions. As awareness of indoor air quality grows, both residential and commercial sectors are investing in accessories that improve air quality, such as air purifiers, filters, and humidity control devices. Furthermore, the rise of smart home technologies is enhancing demand for smart thermostats, sensors, and other connected devices that allow for better control and automation of HVAC systems. The ongoing trend of urbanization, particularly in emerging markets, also contributes to the growing need for HVAC systems and accessories as new infrastructure projects and residential developments continue to expand.

Market opportunities are abundant in the growing demand for energy-efficient, smart, and eco-friendly HVAC accessories. As more consumers adopt smart home technologies, there is increasing demand for accessories that integrate with IoT devices, offering better control, energy management, and comfort. Additionally, as governments across the world impose stricter environmental regulations and push toward carbon-neutral goals, the need for sustainable HVAC solutions is intensifying. This presents opportunities for manufacturers to innovate in areas like advanced filtration systems, energy-efficient components, and smart HVAC controls. In emerging markets, rapid urbanization and increased construction activities are also driving demand for HVAC accessories, offering significant growth potential in these regions.

Regulatory pressures, particularly regarding energy efficiency, emissions reduction, and safety, are key factors influencing the HVAC accessories industry. Governments and regulatory bodies like the International Energy Agency (IEA) have set stringent standards that manufacturers must adhere to, driving innovation in energy-efficient solutions. These regulations push companies to focus on developing products that not only meet energy-saving requirements but also help reduce environmental impact. As building codes and standards evolve, manufacturers must ensure compliance to stay competitive in the market.

Top player strategies in the market focus on innovation, sustainability, and market diversification. Leading manufacturers are investing heavily in research and development to create cutting-edge technologies that integrate smart features, enhance energy efficiency, and improve indoor air quality. They are also expanding their portfolios to offer a wide range of products that cater to both residential and commercial sectors. Collaborations and partnerships with technology providers, like those offering renewable energy solutions, are becoming increasingly common, enabling companies to offer comprehensive, integrated HVAC solutions. For instance, in August 2024, Renesas Electronics Corporation launched the RRH62000, a compact, all-in-one sensor module for indoor air quality monitoring. This module integrates multiple sensors to detect harmful particles, volatile organic compounds, and gases, featuring a Renesas MCU for intelligent sensor management.

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HVAC Accessories Market Report Highlights

Based on product, the thermostats segment dominated the market in 2024. The growing demand for energy-efficient systems and smart home integration is driving the need for advanced thermostats that offer remote control and energy-saving features.
Based on application, the commercial segment led the market in 2024 driven by the need for energy-efficient, reliable HVAC systems to manage large spaces and maintain comfort for employees and customers is driving demand for HVAC accessories.
Based on distribution channel, retail stores are benefiting from the rise in DIY home improvement trends, with consumers seeking easy access to HVAC accessories for residential and small business applications.
Based on end users, the HVAC contractors segment led the market in 2024 driven by the expanding construction industry across the globe in addition to growing demand for energy efficient solutions.
Based on deployment, the new installation segment led the market in 2024. The growth of the new installation segment is driven by the capability of smart HVAC accessories to reduce operating costs and foster sustainability.
Based on region, the market in North America dominated the market in 2024driven by stringent workplace safety regulations and a high level of awareness regarding health risks.
In February 2024, Carrier launched the Carrier Smart Thermostat, designed for residential new construction builders and homeowners, offering affordable connectivity. It features a clean design, supports accessories, integrates with smart home systems, and includes an optional 5-year warranty when connected.

HVAC Accessories Market Segmentation

Grand View Research, Inc. has segmented the HVAC Accessories market on the basis of product, application, distribution channel, end users, deployment, region:

HVAC Accessories Product Outlook (Revenue, USD Million; 2018 - 2030)