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Global Steam & Air-Conditioning Supply Market to Reach US$182.5 Billion by 2030

The global market for Steam & Air-Conditioning Supply estimated at US$130.3 Billion in the year 2023, is expected to reach US$182.5 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2023-2030.

The U.S. Market is Estimated at US$36.7 Billion While China is Forecast to Grow at 7.7% CAGR

The Steam & Air-Conditioning Supply market in the U.S. is estimated at US$36.7 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$35.2 Billion by the year 2030 trailing a CAGR of 7.7% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.0% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR.

Global Steam & Air-Conditioning Supply Market - Key Trends & Drivers Summarized

Why Is the Steam & Air-Conditioning Supply Industry Crucial for Modern Infrastructure?

The steam and air-conditioning supply industry is essential for providing reliable heating, cooling, and ventilation solutions to commercial, industrial, and residential buildings. As global temperatures rise and energy efficiency becomes a top priority, there is increasing demand for efficient HVAC (Heating, Ventilation, and Air Conditioning) systems. These systems are critical for ensuring comfortable indoor environments and maintaining the operational integrity of industrial facilities that rely on precise temperature control. The growth of urbanization and industrialization, particularly in emerging economies, is driving demand for centralized steam and air-conditioning supply services, which offer cost-effective and energy-efficient solutions compared to individual units. Moreover, the rise of smart cities and the adoption of energy-efficient building codes are further promoting the use of advanced HVAC systems.

How Are Technological Innovations Transforming the Steam & Air-Conditioning Supply Market?

The steam and air-conditioning supply market is being transformed by technological advancements that improve energy efficiency, reduce emissions, and enhance system reliability. Innovations such as smart thermostats, IoT-enabled HVAC systems, and automated energy management solutions are optimizing energy usage, allowing for real-time monitoring and adjustments to meet fluctuating demand. Heat recovery technologies are also gaining traction, allowing buildings and industrial facilities to capture and reuse excess heat, thereby reducing overall energy consumption. Additionally, advancements in materials and design are leading to the development of more efficient and environmentally friendly refrigerants, which minimize the environmental impact of air-conditioning systems. The integration of renewable energy sources, such as solar and geothermal, into HVAC systems is another key trend, helping to reduce dependency on fossil fuels and lowering greenhouse gas emissions.

What Are the Key Trends in Steam & Air-Conditioning Supply?

One of the key trends in the steam and air-conditioning supply industry is the growing emphasis on energy efficiency and sustainability. Governments and regulatory bodies around the world are implementing stricter energy efficiency standards for buildings, which is driving demand for high-efficiency HVAC systems. The adoption of green building certifications, such as LEED (Leadership in Energy and Environmental Design), is also encouraging the use of sustainable HVAC technologies. Another trend is the increasing demand for district energy systems, where centralized steam and air-conditioning plants serve multiple buildings, improving efficiency and reducing operational costs. The integration of smart building technologies, which enable automated control of HVAC systems based on real-time data, is further enhancing energy savings and operational efficiency in both commercial and residential settings.

The Growth in the Steam & Air-Conditioning Supply Market Is Driven by Several Factors

The growth in the steam and air-conditioning supply market is driven by several factors, including rising urbanization, the demand for energy-efficient HVAC systems, and advancements in smart technologies. First, the rapid pace of urbanization and industrialization is creating a surge in demand for centralized heating and cooling systems, especially in densely populated cities and large commercial complexes. Second, the growing emphasis on reducing energy consumption and complying with environmental regulations is pushing the adoption of more energy-efficient HVAC solutions. Third, the development of smart building technologies and IoT-enabled HVAC systems is allowing for real-time monitoring and control of temperature and air quality, further driving efficiency gains. Finally, the increasing focus on sustainability and the use of renewable energy sources in HVAC systems are contributing to the market’s expansion as more businesses and governments prioritize green energy initiatives.

Select Competitors (Total 13 Featured) -

• Daikin Applied
• Goodman Manufacturing Company, L.P.
• Johnson Controls International PLC
• Mitsubishi Electric Corporation
• Rheem Manufacturing Company
• Schneider Electric SE
• Toshiba Carrier Corporation
• Trane, Inc.
• York International Corporation
• Zamil Air Conditioners

TABLE OF CONTENTS

I. METHODOLOGY

II. EXECUTIVE SUMMARY

• 1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Steam & Air-Conditioning Supply - Global Key Competitors Percentage Market Share in 2024 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
• 2. FOCUS ON SELECT PLAYERS
• 3. MARKET TRENDS & DRIVERS
  • Rising Demand for Energy-efficient HVAC Systems
  • Growth of the Commercial and Industrial Real Estate Sectors
  • Technological Innovations in Renewable Energy Integration
  • Increasing Focus on Green Buildings and Sustainable Infrastructure
  • Expansion of District Heating and Cooling Networks
  • Growing Investments in Smart Grid and Automation Technologies
  • Government Regulations Promoting Energy Conservation
  • Surge in Demand for Comfort and Climate Control Solutions
  • Impact of Urbanization on Demand for Steam and Air-conditioning Supply
  • Innovation in Low-emission and Environmentally Friendly HVAC Solutions
• 4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Steam & Air-Conditioning Supply Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • TABLE 2: World Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 3: World Historic Review for Steam & Air-Conditioning Supply by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 4: World 16-Year Perspective for Steam & Air-Conditioning Supply by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030

III. MARKET ANALYSIS

• UNITED STATES
  • Steam & Air-Conditioning Supply Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
  • TABLE 5: USA Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 6: USA Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• CANADA
  • TABLE 7: Canada Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 8: Canada Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• JAPAN
  • Steam & Air-Conditioning Supply Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
  • TABLE 9: Japan Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 10: Japan Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• CHINA
  • Steam & Air-Conditioning Supply Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
  • TABLE 11: China Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 12: China Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• EUROPE
  • Steam & Air-Conditioning Supply Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
  • TABLE 13: Europe Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 14: Europe Historic Review for Steam & Air-Conditioning Supply by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 15: Europe 16-Year Perspective for Steam & Air-Conditioning Supply by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets for Years 2014, 2024 & 2030
• FRANCE
  • Steam & Air-Conditioning Supply Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
  • TABLE 16: France Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 17: France Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• GERMANY
  • Steam & Air-Conditioning Supply Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
  • TABLE 18: Germany Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 19: Germany Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• ITALY
  • TABLE 20: Italy Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 21: Italy Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• UNITED KINGDOM
  • Steam & Air-Conditioning Supply Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
  • TABLE 22: UK Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 23: UK Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• SPAIN
  • TABLE 24: Spain Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 25: Spain Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• RUSSIA
  • TABLE 26: Russia Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 27: Russia Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• REST OF EUROPE
  • TABLE 28: Rest of Europe Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 29: Rest of Europe Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• ASIA-PACIFIC
  • Steam & Air-Conditioning Supply Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
  • TABLE 30: Asia-Pacific Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Geographic Region - Australia, India, South Korea and Rest of Asia-Pacific Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 31: Asia-Pacific Historic Review for Steam & Air-Conditioning Supply by Geographic Region - Australia, India, South Korea and Rest of Asia-Pacific Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 32: Asia-Pacific 16-Year Perspective for Steam & Air-Conditioning Supply by Geographic Region - Percentage Breakdown of Value Sales for Australia, India, South Korea and Rest of Asia-Pacific Markets for Years 2014, 2024 & 2030
• AUSTRALIA
  • Steam & Air-Conditioning Supply Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2024 (E)
  • TABLE 33: Australia Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 34: Australia Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• INDIA
  • Steam & Air-Conditioning Supply Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2024 (E)
  • TABLE 35: India Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 36: India Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• SOUTH KOREA
  • TABLE 37: South Korea Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 38: South Korea Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• REST OF ASIA-PACIFIC
  • TABLE 39: Rest of Asia-Pacific Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 40: Rest of Asia-Pacific Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• LATIN AMERICA
  • Steam & Air-Conditioning Supply Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E)
  • TABLE 41: Latin America Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Geographic Region - Argentina, Brazil, Mexico and Rest of Latin America Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 42: Latin America Historic Review for Steam & Air-Conditioning Supply by Geographic Region - Argentina, Brazil, Mexico and Rest of Latin America Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 43: Latin America 16-Year Perspective for Steam & Air-Conditioning Supply by Geographic Region - Percentage Breakdown of Value Sales for Argentina, Brazil, Mexico and Rest of Latin America Markets for Years 2014, 2024 & 2030
• ARGENTINA
  • TABLE 44: Argentina Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 45: Argentina Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• BRAZIL
  • TABLE 46: Brazil Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 47: Brazil Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• MEXICO
  • TABLE 48: Mexico Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 49: Mexico Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• REST OF LATIN AMERICA
  • TABLE 50: Rest of Latin America Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 51: Rest of Latin America Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• MIDDLE EAST
  • Steam & Air-Conditioning Supply Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
  • TABLE 52: Middle East Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Geographic Region - Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 53: Middle East Historic Review for Steam & Air-Conditioning Supply by Geographic Region - Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 54: Middle East 16-Year Perspective for Steam & Air-Conditioning Supply by Geographic Region - Percentage Breakdown of Value Sales for Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets for Years 2014, 2024 & 2030
• IRAN
  • TABLE 55: Iran Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 56: Iran Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• ISRAEL
  • TABLE 57: Israel Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 58: Israel Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• SAUDI ARABIA
  • TABLE 59: Saudi Arabia Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 60: Saudi Arabia Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• UNITED ARAB EMIRATES
  • TABLE 61: UAE Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 62: UAE Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• REST OF MIDDLE EAST
  • TABLE 63: Rest of Middle East Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 64: Rest of Middle East Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
• AFRICA
  • Steam & Air-Conditioning Supply Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)
  • TABLE 65: Africa Recent Past, Current & Future Analysis for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 66: Africa Historic Review for Steam & Air-Conditioning Supply by Segment - Steam & Air-Conditioning Supply Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR

IV. COMPETITION