아시아태평양의 HVAC-R(난방, 환기, 공조 및 냉동) 시장 : 용도별, 제품별, 국가별 분석 및 예측(2025-2035년)

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Introduction to Asia-Pacific Heating, Ventilation, Air Conditioning, and Refrigeration (HVAC-R) Market

The Asia-Pacific heating, ventilation, air conditioning, and refrigeration (HVAC-R) market was valued at $247,596.8 million in 2024, and it is expected to grow at a CAGR of 5.47% and reach $450,803.1 million by 2035. The growing need for energy-efficient systems, the quick expansion of the construction industry, and the growing use of smart, sustainable technologies are all contributing factors to the HVAC-R market's steady rise in Asia. Deployment across sectors is being accelerated by government policies in major APAC economies that support clean energy integration and green construction. The region's HVAC-R market forecast is further strengthened through 2035 by ongoing developments in low-GWP refrigerants, intelligent control systems, and extensive retrofit projects for aging infrastructure.

Market Introduction

Rapid urbanization, increased construction activity, and growing demand for energy-efficient heating and cooling systems across residential, commercial, and industrial sectors are all contributing factors to the APAC HVAC-R market's robust pace. The need for cutting-edge HVAC-R systems is rising dramatically as economies like China, India, Japan, South Korea, and Southeast Asian countries expand their infrastructure. The region's market need is being further amplified by rising temperatures, changing lifestyles, and the growth of cold chain logistics.

The transition to high-performance systems, natural refrigerants, and intelligent, networked HVAC-R solutions is being accelerated by government initiatives that support energy efficiency, green building requirements, and low-emission technology. As building automation technologies, IoT-enabled controls, and predictive maintenance systems improve operational efficiency and lower lifespan costs, digitalization is changing the sector.

Furthermore, the region's robust manufacturing base is propelling ongoing innovation in intelligent chillers, low-GWP refrigerants, efficient compressors, and cutting-edge heat pump technologies. New opportunities for market expansion are being created by the emergence of smart cities, greater electrification, and the integration of HVAC-R systems with renewable energy sources like solar PV. APAC is emerging as one of the most significant global centers for the use of HVAC-R technology through 2035 thanks to expanding environmental objectives and significant infrastructure developments.

Market Segmentation:

Segmentation 1: by Application

• Residential
• Commercial
• Industrial

Segmentation 2: by Product Type

• Heating
  • Heat Pumps
  • Furnaces
  • Boilers
  • Others
• Ventilation
  • Air Filters
  • Humidifiers
  • Air Purifiers
  • Fan Coil Unit (FCO)
  • Air Handling Unit (AHU)
  • Others
• Air Conditioning
  • Window Air Conditioning
  • Portable Air Conditioning
  • Mini-Split Air Conditioning
  • Packaged Air Conditioning
  • Chillers
  • Variable Refrigerant Flow (VRF) System
  • Others
• Refrigeration
  • Freezers and Refrigerators
  • Commercial Refrigerators
  • Refrigerated Transport
• Refrigeration Market (by System Component)
  • Compressor
  • Condensor
  • Expansion Value
  • Evaporators
  • Others

Segmentation 3: by System Integration

• Standalone Systems
• Integrated Systems
• Modular Systems

Segmentation 4: by Region

• Asia-Pacific: China, Japan, India, Australia, Singapore, South Korea, Malaysia, Thailand, and Rest-of-Asia-Pacific

APAC HVAC-R Market Trends, Drivers and Challenges

Market Trends

• Growing adoption of energy-efficient HVAC-R systems driven by urbanization and rising cooling demand.
• Rapid uptake of smart, IoT-enabled air conditioning and refrigeration solutions across commercial and residential segments.
• Strong shift toward low-GWP and natural refrigerants in response to sustainability goals.
• Expansion of cold chain infrastructure supporting food, pharmaceuticals, and e-commerce logistics.
• Increasing integration of HVAC-R systems with renewable energy sources such as solar PV.
• Growing investments in green buildings and smart city developments across APAC

Market Drivers

• Large-scale construction growth in China, India, Southeast Asia, and Australia boosting new HVAC-R installations.
• Government incentives and energy-efficiency regulations encouraging adoption of high-performance systems.
• Rising temperatures and changing climate patterns driving higher cooling loads.
• Strong industrial and commercial expansion increasing demand for advanced refrigeration and ventilation solutions.
• Technological advancements in inverters, compressors, and intelligent building controls.
• Expanding manufacturing base enabling cost-effective production and faster innovation cycles.

Key Market Challenges

• High initial cost of advanced HVAC-R systems limiting adoption in price-sensitive markets.
• Skill shortages for installation and maintenance of low-GWP and high-efficiency technologies.
• Variability in regulatory standards across APAC markets creating compliance complexity.
• Energy supply constraints in certain regions impacting large-scale HVAC-R deployment.
• Supply chain disruptions affecting key components such as semiconductors, compressors, and electronic controls.
• Need for extensive retrofits in ageing infrastructure, increasing project time and cost.

How can this report add value to an organization?

Product/Innovation Strategy: In the APAC heating, ventilation, air conditioning, and refrigeration (HVAC-R) market, companies are focusing on product innovation and technological advancements to stay ahead in a rapidly evolving industry. Energy efficiency and sustainability are central to these strategies, with key innovations revolving around eco-friendly refrigerants, smart heating, ventilation, air conditioning, and refrigeration systems, and Internet of Things-enabled solutions that offer real-time monitoring and predictive maintenance. Companies are investing in the development of energy-efficient compressors, advanced air filtration systems, and modular cooling and heating units that can be easily integrated into diverse applications, from residential to industrial settings. The use of low-global-warming-potential refrigerants is being promoted to minimize the environmental impact of heating, ventilation, air conditioning, and refrigeration systems. Manufacturers are also focusing on the digitalization of heating, ventilation, air conditioning, and refrigeration systems, which allows for enhanced performance optimization and energy management through artificial intelligence-driven analytics and automation. Strategic partnerships with technology providers are facilitating the creation of flexible, scalable, and interoperable heating, ventilation, air conditioning, and refrigeration solutions that cater to both new construction and retrofit projects, driving the adoption of these innovations in the market.

Growth/Marketing Strategy: The APAC heating, ventilation, air conditioning, and refrigeration market presents significant opportunities for growth through strategic marketing and business expansion. Key strategies for growth include market diversification, regional expansion, and new product launches targeted at sustainability and energy efficiency. Leading players are increasing their global footprint by expanding into emerging markets where urbanization and industrialization are driving demand for heating, ventilation, air conditioning, and refrigeration solutions. Companies are also increasing focus on smart heating, ventilation, air conditioning, and refrigeration products, aligning with the growing consumer demand for intelligent home technologies and green buildings. Mergers and acquisitions are playing a key role in market consolidation, enabling companies to enhance their technological capabilities and diversify their product portfolios. Moreover, strategic collaborations with research institutions, government bodies, and construction companies are helping businesses leverage regulatory incentives and push toward net-zero goals, providing significant leverage in the growing market for energy-efficient solutions. As the market continues to prioritize sustainability and energy performance, companies adopting these strategies are well-positioned to lead the industry in the coming years.

Competitive Strategy: In the APAC heating, ventilation, air conditioning, and refrigeration market, companies are leveraging innovation and strategic alliances to enhance their competitive position. Leading players are focusing on technological differentiation and sustainability initiatives to gain a competitive edge. The adoption of green technologies, such as low-global-warming-potential refrigerants and energy-efficient systems, is becoming a critical factor in market success. Strategic partnerships between heating, ventilation, air conditioning, and refrigeration manufacturers, construction firms, and technology providers are enabling the development of integrated heating, ventilation, air conditioning, and refrigeration systems that meet the evolving needs of smart buildings, from residential to commercial sectors. Companies are also expanding their offerings to include services such as maintenance contracts, installation services, and real-time diagnostics, which not only enhance customer loyalty but also ensure long-term revenue streams. Moreover, the focus on product quality, after-sales services, and customer education is helping companies to differentiate themselves from competitors in an increasingly crowded market. As companies continue to prioritize energy efficiency and environmental compliance, their ability to innovate while maintaining operational excellence will be key to achieving success in the competitive landscape.

Key Market Players and Competition Synopsis

The companies that are profiled in the Asia-Pacific heating, ventilation, air conditioning, and refrigeration (HVAC-R) market have been selected based on inputs gathered from primary experts, who have analyzed company coverage, product portfolio, and market penetration.

Some of the prominent names in the market are:

• DAIKIN INDUSTRIES, Ltd.
• Hitachi, Ltd.
• LG Electronics
• Samsung Electronics Co., Ltd.
• Dyson Ltd.
• Fujitsu General Limited
• Blue Star Limited
• Voltas Limited (TATA Group)

Table of Contents

Executive Summary

Scope and Definition

1 Market: Industry Outlook

• 1.1 Trends: Current and Future Impact Assessment
  • 1.1.1 Growing Emphasis on Internet of Things (IoT) Enabling HVAC-R Systems
  • 1.1.2 Integration of Radiant Heating and Cooling Systems
  • 1.1.3 Advances in Indoor Air Quality, Health & Wellness Technologies
  • 1.1.4 Climate Adaptation & Extreme Weather Resilience
• 1.2 Stakeholder Analysis
  • 1.2.1 End User Buying Criteria
• 1.3 Market Dynamics
  • 1.3.1 Market Drivers
    • 1.3.1.1 Surging Construction Activities around the World
    • 1.3.1.2 Climate Change due to Greenhouse Effect
    • 1.3.1.3 Smart Technologies in HVAC-R Products
    • 1.3.1.4 Regulatory Incentives & Subsidies for Green Buildings
  • 1.3.2 Market Challenges
    • 1.3.2.1 Evolving Regulatory Landscape
    • 1.3.2.2 Utilization of Harmful Refrigerants Constraining the Uptake of HVAC-R Products
    • 1.3.2.3 High Upfront Costs and Installation / Maintenance Complexity
  • 1.3.3 Market Opportunities
    • 1.3.3.1 Investment in Sustainable and Energy-Efficient HVAC-R Products
    • 1.3.3.2 Growing Adoption of Renewable Sources of Energy
    • 1.3.3.3 Retrofit and Replacement Demand in Aging Infrastructure
• 1.4 Regulatory and Policy Impact Analysis
  • 1.4.1 Building Energy Codes and Standards
    • 1.4.1.1 Overview
    • 1.4.1.2 Impact on the HVAC-R Market
  • 1.4.2 Incentives, Subsidies & Tax Policies
    • 1.4.2.1 Appliance Trade-In Subsidy Program (China)
  • 1.4.3 Phase-down of High-GWP Refrigerants
• 1.5 Patent Analysis
  • 1.5.1 Patent Filing Trend (by Country and Company)
• 1.6 Investment Landscape and R&D Trends
• 1.7 Supply Chain Analysis
  • 1.7.1 Value Chain Analysis
  • 1.7.2 Pricing Analysis
• 1.8 Product Lifecycle and Replacement Rates
  • 1.8.1 Average Lifespan of HVAC-R Systems
    • 1.8.1.1 Factors Affecting Lifespan of HVAC-R Systems
  • 1.8.2 Average Time to Replacement for HVAC-R Systems
    • 1.8.2.1 Replacement Drivers
    • 1.8.2.2 Economic Analysis
    • 1.8.2.3 Market Implications
    • 1.8.2.4 Future Trends
• 1.9 Distribution Channel Analysis
• 1.1 Industry Attractiveness

2 Region

• 2.1 Regional Summary
• 2.2 Asia-Pacific
  • 2.2.1 Regional Overview
  • 2.2.2 Driving Factors for Market Growth
  • 2.2.3 Factors Challenging the Market
  • 2.2.4 Analyst view
  • 2.2.5 Market by Application
  • 2.2.6 Market by Product
  • 2.2.7 Asia-Pacific (by Country)
    • 2.2.7.1 China
      • 2.2.7.1.1 Market by Application
      • 2.2.7.1.2 Market by Product
    • 2.2.7.2 Japan
      • 2.2.7.2.1 Market by Application
      • 2.2.7.2.2 Market by Product
    • 2.2.7.3 India
      • 2.2.7.3.1 Market by Application
      • 2.2.7.3.2 Market by Product
    • 2.2.7.4 Australia
      • 2.2.7.4.1 Market by Application
      • 2.2.7.4.2 Market by Product
    • 2.2.7.5 Singapore
      • 2.2.7.5.1 Market by Application
      • 2.2.7.5.2 Market by Product
    • 2.2.7.6 South Korea
      • 2.2.7.6.1 Market by Application
      • 2.2.7.6.2 Market by Product
    • 2.2.7.7 Malaysia
      • 2.2.7.7.1 Market by Application
      • 2.2.7.7.2 Market by Product
    • 2.2.7.8 Thailand
      • 2.2.7.8.1 Market by Application
      • 2.2.7.8.2 Market by Product
    • 2.2.7.9 Rest-of-Asia-Pacific
      • 2.2.7.9.1 Market by Application
      • 2.2.7.9.2 Market by Product

3 Markets - Competitive Benchmarking & Company Profiles

• 3.1 Next Frontiers
• 3.2 Geographic Assessment
• 3.3 Company Profiles
  • 3.3.1 DAIKIN INDUSTRIES, Ltd.
    • 3.3.1.1 Overview
    • 3.3.1.2 Top Products/Product Portfolio
    • 3.3.1.3 Top Competitors
    • 3.3.1.4 Target Customers
    • 3.3.1.5 Key Personnel
    • 3.3.1.6 Analyst View
    • 3.3.1.7 Market Share, 2024
  • 3.3.2 Hitachi, Ltd.
    • 3.3.2.1 Overview
    • 3.3.2.2 Top Products/Product Portfolio
    • 3.3.2.3 Top Competitors
    • 3.3.2.4 Target Customers
    • 3.3.2.5 Key Personnel
    • 3.3.2.6 Analyst View
    • 3.3.2.7 Market Share, 2024
  • 3.3.3 LG Electronics
    • 3.3.3.1 Overview
    • 3.3.3.2 Top Products/Product Portfolio
    • 3.3.3.3 Top Competitors
    • 3.3.3.4 Target Customers
    • 3.3.3.5 Key Personnel
    • 3.3.3.6 Analyst View
    • 3.3.3.7 Market Share, 2024
  • 3.3.4 Samsung Electronics Co., Ltd
    • 3.3.4.1 Overview
    • 3.3.4.2 Top Products/Product Portfolio
    • 3.3.4.3 Top Competitors
    • 3.3.4.4 Target Customers
    • 3.3.4.5 Key Personnel
    • 3.3.4.6 Analyst View
    • 3.3.4.7 Market Share, 2024
  • 3.3.5 Dyson Ltd.
    • 3.3.5.1 Overview
    • 3.3.5.2 Top Products/Product Portfolio
    • 3.3.5.3 Top Competitors
    • 3.3.5.4 Target Customers
    • 3.3.5.5 Key Personnel
    • 3.3.5.6 Analyst View
    • 3.3.5.7 Market Share, 2024
  • 3.3.6 Fujitsu General Limited
    • 3.3.6.1 Overview
    • 3.3.6.2 Top Products/Product Portfolio
    • 3.3.6.3 Top Competitors
    • 3.3.6.4 Target Customers
    • 3.3.6.5 Key Personnel
    • 3.3.6.6 Analyst View
    • 3.3.6.7 Market Share, 2024
  • 3.3.7 Blue Star Limited
    • 3.3.7.1 Overview
    • 3.3.7.2 Top Products/Product Portfolio
    • 3.3.7.3 Top Competitors
    • 3.3.7.4 Target Customers
    • 3.3.7.5 Key Personnel
    • 3.3.7.6 Analyst View
    • 3.3.7.7 Market Share, 2024
  • 3.3.8 Voltas Limited (TATA Group)
    • 3.3.8.1 Overview
    • 3.3.8.2 Top Products/Product Portfolio
    • 3.3.8.3 Top Competitors
    • 3.3.8.4 Target Customers
    • 3.3.8.5 Key Personnel
    • 3.3.8.6 Analyst View
    • 3.3.8.7 Market Share, 2024

4 Research Methodology

• 4.1 Data Sources
  • 4.1.1 Primary Data Sources
  • 4.1.2 Secondary Data Sources
  • 4.1.3 Data Triangulation
• 4.2 Market Estimation and Forecast