South & Central America HVAC System Market

The South & Central America HVAC system market was valued at US$ 12,344.61 million in 2022 and is expected to reach US$ 21,233.65 million by 2030; it is estimated to grow at a CAGR of 7.0% from 2022 to 2030.

Growth in Government Regulatory Policies for Energy Saving and Conservation Fuels the South & Central America HVAC System Market

Governments across the world are using a variety of strategies to encourage energy saving and conservation. They are including sizable line items for energy costs in their yearly operational budgets. In addition, they are saving a lot of money on energy costs incurred in public buildings and are exhibiting energy and environmental leadership by investing in energy efficiency.

Other than the increase in the efficiency of both new and existing facilities, many governments are including energy efficiency standards in their decisions of product purchases. The main energy consumers in municipal level operations are often the water and wastewater treatment facilities. High-quality HVAC systems can be employed at water and wastewater facilities to decrease energy costs and greenhouse gas emissions. Through energy data management and evaluation, energy efficiency standards for public buildings, uptake of retrofit programs for already-existing public buildings, acquisition of energy-efficient appliances and equipment, and establishment of energy-efficient operations and maintenance procedures, state and local governments are promoting energy efficiency programs and policies for public facilities, equipment, and government operations.

South & Central America HVAC System Market Overview

Based on country, the South & Central America (SAM) South America HVAC system market is segmented into Brazil, Argentina, and the Rest of SAM. The HVAC sector of the South American region is steadily growing owing to various government initiatives to promote and develop the regional construction infrastructure. Countries such as Brazil and Columbia across the region has the presence of large number of international HVAC manufacturers. For these reasons, it is vital to boost energy savings and customer flexibility. Hence, there is growing demand for HVAC systems across countries like Brazil, Argentina, Colombia, and others. Digital technologies and smart policies can be implemented to translate immediate energy savings into structural improvements, and long-term, that supports consumers and electricity systems while maintaining, and controlling low carbon intensity in the region.

South & Central America HVAC System Market Revenue and Forecast to 2030 (US$ Million)

South & Central America HVAC System Market Segmentation 

The South & Central America HVAC system market is segmented based on component, type, implementation, application, and country. Based on component, the South & Central America HVAC system market is segmented into thermostat, air handling units, central ACs, furnace, heat pump, compressor, and others. The central ACs segment held the largest market share in 2022.

Based on type, the South & Central America HVAC system market is segmented into split system, ductless system, and packaged system. The split system segment held the largest market share in 2022.

Based on implementation, the South & Central America HVAC system market is segmented into new installation and retrofit. The new installation segment held a larger market share in 2022.

Based on application, the Asia Pacific HVAC system market is segmented into residential, commercial, and industrial. The residential segment held the largest market share in 2022.

Based on country, the South & Central America HVAC system market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America HVAC system market share in 2022.

Mitsubishi Electric Corp, Hitachi Ltd, Daikin Industries Ltd, Emerson Electric Co, Honeywell International Inc, LG Electric Inc, Carrier Global Corp, and Johnson Controls Inc are the leading companies operating in the South & Central America HVAC system market.