HVAC And Commercial And Industrial Refrigeration Equipment Market Report 2026

HVAC And Commercial And Industrial Refrigeration Equipment Market Overview

• HVAC And Commercial And Industrial Refrigeration Equipment market size has reached to $450.34 billion in 2025

• Expected to grow to $577.25 billion in 2030 at a compound annual growth rate (CAGR) of 5.3%

• Growth Driver: Construction Industry Expansion Fueling Growth In Hvac And Commercial And Industrial Refrigeration Equipment Market

• Market Trend: Advancements In Sustainable Refrigeration Technologies

• Asia-Pacific was the largest region in 2025 and North America is the fastest growing region.

What Is Covered Under HVAC And Commercial And Industrial Refrigeration Equipment Market?

HVAC and commercial and industrial refrigeration equipment refer to the machinery that deals with the commercial and industrial refrigeration sector that transfers heat energy from or to the products or building environment.

The main types of HVAC and commercial and industrial refrigeration equipment are HVAC equipment, and commercial and industrial refrigeration equipment. Commercial and industrial refrigeration equipment refers to the machinery that deals with the commercial and industrial refrigeration sector. The various capacities include small, medium, and large. The various applications involved are food processing, beverage production, chemicals and pharmaceuticals, petrochemicals, and energy.

What Is The HVAC And Commercial And Industrial Refrigeration Equipment Market Size and Share 2026?

The hvac and commercial and industrial refrigeration equipment market size has grown steadily in recent years. It will grow from $450.34 billion in 2025 to $469.61 billion in 2026 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to industrial refrigeration expansion, growth of food processing industries, traditional hvac installations, regulatory cooling requirements, expansion of logistics infrastructure.

Tariff Impact On HVAC And Commercial And Industrial Refrigeration Equipment Market

Tariffs are affecting the hvac and commercial and industrial refrigeration equipment market by increasing costs of imported compressors, heat exc

Global HVAC And Commercial And Industrial Refrigeration Equipment Market Segmentation

1) By Type: HVAC Equipment, Commercial And Industrial Refrigeration Equipment

2) By Capacity: Small, Medium, Large

3) By Application: Food Processing, Beverage Production, Chemicals and Pharmaceuticals, Petrochemicals, Energy, Logistics

Subsegments:

1) By HVAC Equipment: Heating Equipment, Furnaces, Heat Pumps, Boilers, Ventilation Equipment, Air Handling Units (AHUs), Exhaust Fans, Air Filtration Systems

2) By Commercial And Industrial Refrigeration Equipment: Commercial Refrigerators And Freezers, Reach-In Refrigerators, Walk-In Coolers And Freezers, Industrial Refrigeration Systems, Refrigeration Compressors, Ammonia Refrigeration Systems, Display Refrigeration Units, Merchandising Refrigerators, Ice Cream Freezers

What Is The Driver Of The HVAC And Commercial And Industrial Refrigeration Equipment Market?

The expansion of the construction industry globally is expected to propel the growth of the HVAC and commercial and industrial refrigeration equipment markets in the forecast period. The construction industry refers to the industrial branch of manufacturing and trade related to building, repairing, renovating, and maintaining infrastructure. The construction of new commercial spaces necessitates HVAC systems to maintain indoor comfort, while the residential construction sector drives demand for efficient heating and cooling systems favored by homebuyers and renters for comfort and energy efficiency. For instance, in August 2023, according to a report published by the U.S. Census Bureau, a US-based Federal Statistical System, construction expenditure accounted for $1,938.4 billion in June 2023, indicating a 3.5% increase from the estimated expenditure of $1,873.2 billion in June 2022. Therefore, expanding the construction industry will drive the growth of the HVAC and commercial and industrial refrigeration equipment markets going forward.

What Is The Driver Of The HVAC And Commercial And Industrial Refrigeration Equipment Market?

The expansion of the construction industry globally is expected to propel the growth of the HVAC and commercial and industrial refrigeration equipment markets in the forecast period. The construction industry refers to the industrial branch of manufacturing and trade related to building, repairing, renovating, and maintaining infrastructure. The construction of new commercial spaces necessitates HVAC systems to maintain indoor comfort, while the residential construction sector drives demand for efficient heating and cooling systems favored by homebuyers and renters for comfort and energy efficiency. For instance, in August 2023, according to a report published by the U.S. Census Bureau, a US-based Federal Statistical System, construction expenditure accounted for $1,938.4 billion in June 2023, indicating a 3.5% increase from the estimated expenditure of $1,873.2 billion in June 2022. Therefore, expanding the construction industry will drive the growth of the HVAC and commercial and industrial refrigeration equipment markets going forward.

Global HVAC And Commercial And Industrial Refrigeration Equipment Market Trends and Insights

Major companies operating in the HVAC and commercial and industrial refrigeration equipment market are focusing on leveraging innovative technologies such as low-global warming potential (GWP) refrigeration technology to enhance energy efficiency, environmental performance, and regulatory compliance. Low-GWP refrigeration technology uses refrigerants with reduced global warming potential and integrates electric-drive or multi-energy-source systems for efficient cooling, enabling capabilities such as lower CO2 emissions, reduced fuel consumption, and flexible power-source operation. For instance, in September 2024, Carrier Transicold, a US-based multinational leader in climate and cold-chain solutions, launched Vector HE 19, a refrigeration unit using a low-GWP refrigerant and compatible with biofuels (HVO or B100), designed for temperature-controlled trailers and semi-trailers, featuring a new low-GWP refrigerant that reduces CO2 emissions by up to nine-times versus standard refrigerants and a flexible E-Drive architecture allowing operation via engine, battery or grid. Vector HE 19 improves sustainability, fuel efficiency, and operational flexibility in cold-chain transport within the HVAC and commercial and industrial refrigeration sector.

What Are Latest Mergers And Acquisitions In The HVAC And Commercial And Industrial Refrigeration Equipment Market?

In July 2024, Bosch, a Germany-based company that offers vehicle technology with hardware, software acquired a residential and light commercial HVAC business from Johnson Controls and Hitachi for an undisclosed amount. With this acquisition, Bosch aims to expand its portfolio in the HVAC sector by integrating advanced technologies and innovations from Johnson Controls and Hitachi, thereby enhancing its offerings in residential and light commercial heating, ventilation, and air conditioning systems. Johnson Controls and Hitachi. Johnson Controls-Hitachi Air Conditioning is a Japan-based company that offers HVAC and commercial and industrial refrigeration.

Regional Outlook

Asia-Pacific was the largest region in HVAC and commercial and industrial refrigeration equipment market in 2025. North America was the second largest region in the HVAC and commercial and industrial refrigeration equipment. The regions covered in this market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in this market report are China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

What Defines the HVAC And Commercial And Industrial Refrigeration Equipment Market?

The HVAC and commercial and industrial refrigeration equipment market consists of sales of split systems, hybrid systems, duct-free systems, and packaged heating and air systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What Key Data and Analysis Are Included in the HVAC And Commercial And Industrial Refrigeration Equipment Market Report 2026?

The hvac and commercial and industrial refrigeration equipment market research report is one of a series of new reports from The Business Research Company that provides market statistics, including industry global market size, regional shares, competitors with the market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the hvac and commercial and industrial refrigeration equipment industry. The market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.