Global HVAC Aftermarket Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Component;

Compressor, Condenser, Evaporator, Receiver Dryer, Expansion Valve, and Others.

By Vehicle Type;

Passenger Cars and Commercial Vehicles.

By Type;

Air Conditioning and Refrigeration

By End User;

Non-Residential and Residential.

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn599573248 Published Date: March, 2025 Updated Date: April, 2025

Introduction

Global HVAC Aftermarket (USD Million), 2021 - 2031

In the year 2024, the Global HVAC Aftermarket Market was valued at USD 74,670.80 million. The size of this market is expected to increase to USD 88,155.72 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 2.4%.

The Global HVAC Aftermarket is a significant segment within the heating, ventilation, and air conditioning industry, focusing on products and services that support the maintenance, repair, and replacement of HVAC systems. The market includes components such as filters, coils, compressors, refrigerants, and thermostats, as well as services like installation, repair, and preventive maintenance. With the growing emphasis on energy efficiency and system longevity, the demand for aftermarket services and parts has risen, driven by the need to optimize system performance and reduce operating costs. As buildings, both residential and commercial, continue to modernize their HVAC systems, the aftermarket segment plays a crucial role in ensuring that these systems remain functional and efficient over their lifecycle.

The HVAC aftermarket is heavily influenced by the increasing trend toward preventive maintenance and energy-efficient upgrades. Many businesses and homeowners are opting for regular maintenance services to extend the life of their HVAC systems and to ensure they operate at peak efficiency. This demand is further fueled by stricter regulations on energy consumption and environmental impact. As systems grow more complex, the need for skilled technicians and specialized aftermarket services continues to rise. Additionally, advancements in smart HVAC technology have introduced new service needs, as the integration of IoT (Internet of Things) and automation features in HVAC systems necessitate timely updates and repairs to maintain high performance and compliance with evolving standards.

Geographically, the North American and European regions dominate the HVAC aftermarket, driven by aging infrastructure, stringent regulations, and a large base of residential, commercial, and industrial HVAC systems. However, the Asia-Pacific region is experiencing rapid growth, as urbanization, industrialization, and the rising demand for air conditioning in emerging economies create significant opportunities for HVAC service providers. As the need for quality indoor air and climate control continues to grow worldwide, the HVAC aftermarket is expected to expand, with an increasing focus on sustainable and energy-efficient solutions. This will likely encourage the development of new technologies, products, and services to meet the evolving needs of consumers and businesses alike.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Component
    2. Market Snapshot, By Vehicle Type
    3. Market Snapshot, By Type
    4. Market Snapshot, By End User
    5. Market Snapshot, By Region
  4. Global HVAC Aftermarket Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Increased Focus on Indoor Air Quality

        2. Growing Demand for Predictive Maintenance

        3. Customer-Centric Service Models

        4. Rising Awareness of Environmental Impact

      2. Restraints
        1. High Initial Costs of Advanced HVAC Systems

        2. Complexity of Retrofitting and Upgrading

        3. Shortage of Skilled Workforce

        4. Economic Uncertainty and Budget Constraints

      3. Opportunities
        1. Expansion of Smart and Connected HVAC Systems

        2. Growth in Renewable Energy Integration

        3. Emerging Markets and Developing Economies

        4. Increasing Adoption of Energy-Efficient Technologies

    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global HVAC Aftermarket, By Component, 2021 - 2031 (USD Million)

      1. Compressor

      2. Condenser

      3. Evaporator

      4. Receiver Dryer

      5. Expansion Valve

      6. Others

    2. Global HVAC Aftermarket, By Vehicle Type, 2021 - 2031 (USD Million)

      1. Passenger Cars

      2. Commercial Vehicles

    3. Global HVAC Aftermarket, By Type, 2021 - 2031 (USD Million)
      1. AirConditioning
      2. Refrigeration
    4. Global HVAC Aftermarket, By End User, 2021 - 2031 (USD Million)
      1. Non-Residential
      2. Residential
    5. Global HVAC Aftermarket, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Daikin Industries Ltd.
      2. Emerson Electric Co.
      3. Ingersoll-Rand Plc
      4. Johnson Controls International Plc
      5. Lennox International Inc.
      6. LG Electronics Inc.
      7. Robert Bosch GmbH
      8. Samsung Electronics Co. Ltd.
      9. Siemens AG
      10. United Technologies Corp.
  7. Analyst Views
  8. Future Outlook of the Market