Australia HVAC Systems Market (2023-2029) | Share, Value, Outlook, Analysis, Trends, COVID-19 IMPACT, Industry, Forecast, Revenue, Size, Companies & Growth

Australia HVAC Systems Market

The Australia HVAC system market, during the COVID-19 pandemic in 2020, witnessed slow growth as there was a decline in bookings across the construction industry caused by lockdowns and supply chain disruptions due to Australia’s higher dependency on importing building materials and equipment from overseas, particularly China. However, the combination of government infrastructure spending and schemes such as the homebuilder program launched in 2020 under which a grant of $40,000 had been provided for building a home, pushed the overall construction market to continue its momentum during the pandemic.

According to 6Wresearch, Australia HVAC systems market size is projected to grow at a CAGR of 7.2% during 2023-2029. The Australia HVAC systems market is expected to show significant growth over the coming years on account of the growing construction, transportation, and infrastructure sector. Also, the commercial building demand is proving to be sustainable, along with the increasing expenditure on social and economic infrastructure. Moreover, the positive demand outlook along with traditionally higher yields for prime commercial properties in Sydney and Melbourne which is around 8%, is expected to attract more investors to invest in commercial buildings and properties hence furthering the growth in the number of new installations of HVAC systems across tier one and tier two cities across Australia. As per Australian Construction Industry Forum (ACIF), Infrastructure Construction has continued to grow steadily, by 3.8% in 2022-23, which is mainly due to the infrastructure development programs pursued by the government. For instance, budget 2022-23 to make an infrastructure investment of $4.4 billion over four years period till 2025-26 to sustain a smooth construction activity in public transportation to support the transition to a more sustainable energy future in the coming years, which in turn would propel the demand for new installations HVAC systems in Australia and it will give rise to the HVAC systems market in Australia.

Market by Product Type

By product type, the cooling segment captured the largest market share owing to increased demand from the commercial and residential sectors. This surge in demand is attributed to the influence of modernization and the adoption of high-tech, energy-efficient HVAC systems, which have significantly impacted both domestic and commercial demand. Furthermore, the influence of El Niño (Climatic Pattern) resulted in warmer than usual temperatures and reduced rainfall which increased the demand for air conditioners.

Market by Applications

By Application, commercial led the Australia HVAC systems industry revenues in 2022 owing to the accelerated application of HVAC systems such as ductless and central air-conditioners in various commercial places, such as corporate offices, hotels, restaurants, railways stations, and airports. Moreover, the rapidly growing office market space with more than 942 thousand square feet of office area under construction coupled with rising retail construction with 8 retail projects of 122,226 sqm space under construction, would further contribute to the growth of this segment in the coming years.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 11 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Australia HVAC Systems Market Overview
• Australia HVAC Systems Market Outlook
• Australia HVAC Systems Market Forecast
• Historical Data and Forecast of Australia HVAC Systems Market Revenues for the Period 2019-2029F
• Historical Data and Forecast of Market Revenues, By Product Types, for the Period 2019-2029F
• Historical Data and Forecast of Market Revenues, By Applications, for the Period 2019-2029F
• Market Drivers and Restraints
• Australia HVAC System Market Trends
• Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Australia HVAC Systems Revenue Ranking, By Companies
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Product Type

• Heating
• Ventilation
• Cooling

By Applications

• Residential
• Commercial
• Industrial