China Commercial HVAC Market Size (2024 - 2029)

China Commercial HVAC Market Analysis

The China Commercial HVAC Market size is estimated at USD 9.14 billion in 2024, and is expected to reach USD 13.75 billion by 2029, growing at a CAGR of 8.51% during the forecast period (2024-2029).

• HVAC systems are crucial and essential for any commercial structure to provide occupants with a comfortable atmosphere. For instance, HVAC systems are frequently utilized in many offices to offer suitable temperature and ventilation settings, which helps to improve employee productivity and working conditions and minimize health risks brought on by inadequate humidity levels. This need for HVAC solutions in China is anticipated to increase demand for HVAC equipment such as air handling units.
• China, a key manufacturing hub for HVAC machinery and components, is pivotal in driving market growth. With a robust manufacturing infrastructure, China hosts numerous factories specializing in HVAC equipment. This scale of production ensures economies of scale and translates into competitive pricing. For instance, Heat pumps, a type of HVAC equipment, are poised to be pivotal in China's efforts to peak CO2 emissions by 2030 and attain carbon neutrality by 2060.
• Environmental laws, including the China Green Building Evaluation Label (GBEL), are becoming more prevalent in China. As a result, the country's HVAC industry is turning toward environmentally friendly AHUs with low Global Warming Potential (GWP) and energy-efficient technology.
• In commercial settings, HVAC equipment encompasses an array of components vital for heating and cooling systems. With each additional part in an HVAC unit, the risk of component failure rises, presenting a hurdle to China's HVAC equipment market expansion. Furthermore, when HVAC equipment fails, it raises operating costs for end-users and prompts them to consider alternative products, dampening the demand for HVAC equipment.
• Continuing challenges from macroeconomic factors such as inflation and elevated interest rates persist for the commercial HVAC market in China. Moreover, as equipment and installation costs rise, consumers may opt for repairs over replacements. Furthermore, with China projected to account for 70% of HFC production and consumption by 2035, the HVAC sector faces potential shortages and notable price escalations.

China Commercial HVAC Industry Segmentation

HVAC is a broad array of heating and cooling systems regulating indoor temperature and humidity. Beyond temperature control, these systems enhance indoor air quality through mechanical ventilation and filtration. The HVAC systems include heat pumps, central air conditioners, ductless mini-splits, furnaces, air handling units, and boilers. Additionally, HVAC encompasses the extensive refrigeration systems found in commercial structures.

The study tracks the revenue accrued through the sale of HVAC products in the commercial sector by various players in China. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The study further analyses the overall impact of COVID-19 aftereffects and other macroeconomic factors on the market. The report's scope encompasses market sizing and forecasts for the various market segments.

The Chinese commercial HVAC market is segmented by type of component (HVAC equipment [heating equipment, air conditioning /ventilation equipment], and HVAC services) and end-user industry (hospitality, commercial buildings, public buildings, and others). The market sizes and forecasts are provided in value (USD) for all the above segments.