(MENAFN- GlobeNewsWire - Nasdaq) The rising demand for HVAC packaged units in the commercial sector, including offices, retail spaces, healthcare facilities, and hospitality drive the market growth.

Rockville , Jan. 08, 2024 (GLOBE NEWSWIRE) -- The global HVAC packaged unit market is estimated at US$ 53,610 million in 2024, projected to grow steadily with a 6.1% CAGR through 2034. The market is projected to account for a valuation of US$ 96,916.9 million by 2034. The increasing urbanization and ongoing construction in emerging markets are driving a notable surge in demand for HVAC packaged units. As these areas progress, the necessity for effective heating and cooling solutions across residential, commercial, and industrial domains sees a considerable rise.

The expansion of both residential and commercial sectors serves as a primary driver, spurring the need for HVAC packaged units in diverse construction projects and renovation endeavors across multiple building categories. The increasing need for replacing outdated HVAC systems with more efficient and eco-friendly models drives a significant portion of the market growth. Retrofitting older systems with newer, more energy-efficient units is also a factor propelling the market forward.

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The rising shift toward eco-friendly refrigerants and sustainable HVAC systems in response to environmental concerns, including reducing greenhouse gas emissions and addressing climate change, is expected to propel the market growth during the forecast period. HVAC packaged unit market may witness unprecedented expansion and technological advancement opportunities as businesses and consumers increasingly prioritize environmental sustainability and energy conservation. Integrating smart technologies and the Internet of Things (IoT) in HVAC packaged unit may be crucial in spurring market growth.

Automation is driving advancements in HVAC packaged unit leading to automated diagnostics, self-regulating systems, and AI-driven optimizations for improved performance and reduced maintenance.

Report Attribute	Details
Value Projection (2034)	US$ 96,916.9 million
Growth Rate (2024-2034)	6.1% CAGR
No. of pages	170 Pages
No. of Tables	48 Tables
No. of Figures	144 Figures

Key Takeaways from Market Study

• The global HVAC packaged unit market is projected to expand at a CAGR of 6.1% through 2034.
• The North America HVAC packaged unit market is expected to grow at a remarkable CAGR of 6.3% through 2034.
• The HVAC packaged unit industry in the United States holds a dominant share of 68.6% in 2024 United States dominates the global HVAC packaged unit market, valued at US$ 10,518.1 million in 2024.
• The HVAC packaged unit industry in China is expected to rise at a CAGR of 6.7% through 2034.
• Based on the condenser type, air condenser segment hold a 54.7% market share in 2024.
• The commercial segment dominates applications with a 44.5% share in 2024.

“The growth in construction activity and infrastructure-related spending coupled with increasing urbanization, stimulating demand for HVAC packaged unit,” remarks an analyst at Fact.

Key Companies Profiled in This Report

• Carrier Corporation
• Lennox International
• Daikin Corporation
• GREE ELECTRIC APPLIANCES Inc.
• Thermotechnology Corp
• Mitsubishi Electric Corporation
• Midea Gro
• Panasonic Corporation
• Samsung
• Electrolux AB
• Fujitsu General
  

Competitive Landscape

HVAC packaged units market is characterized by robust industry players vying for market share through innovation and strategic expansion. Key companies engage in mergers, acquisitions, and technological advancements to cater to a diverse global clientele.

This landscape thrives on delivering energy-efficient, technologically advanced solutions to meet the evolving demands of residential, commercial, and industrial sectors.

• Electrolux focuses on incorporating innovative features and technology into their HVAC systems. They emphasize energy efficiency, smart controls, and air quality enhancement in their units, aligning with modern consumer demands for efficient and smart home solutions.
• Bosch Thermotechnology Corp is a notable player in the HVAC packaged unit market. Renowned for its innovative solutions, the company offers a range of HVAC products, including heating, cooling, and water heating systems. Bosch focuses on energy efficiency, smart controls, and sustainability.

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More Valuable Insights

Fact, in its new offering, presents an unbiased analysis of the global HVAC packaged unit market, presenting historical analysis from 2019 to 2023 and forecast statistics for the period of 2024-2034.

The study reveals essential insights on the basis of Condenser Type (Air Condenser, Water Condenser) by End-Use (Residential, Commercial, Industrial) across six major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa).

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About Fact :

Fact is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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