Australia HVAC Systems Market size is projected to grow at a CAGR of 7.2% during 2023-2029

Based on product type, the cooling segment registered the largest revenue share in the Australia HVAC Systems Market – 6Wresearch

By product types, the cooling segment dominated the market with the largest share, driven by rising demand from the commercial and residential sectors. This can be attributed to modernization and the adoption of energy-efficient HVAC systems, leading to increased domestic and commercial demand. This segment leads the market in the country and is projected to rise at a higher rate due to the rise in demand for air-conditioners across different verticals ranging from commercial to household applications.

According to 6Wresearch, Australia HVAC systems market size is projected to grow at a CAGR of 7.2% during 2023–29. The Australia HVAC Systems Market is expected to witness substantial growth in the coming years, on account of rising investment in the infrastructure industry which accounts for 20% of Australia’s GDP. Additionally, the total spending in this sector is expected to be around $750 million between 2020-2025. Furthermore, $647 billion worth of 5,500 ongoing infrastructure construction projects in Australia coupled with government initiatives such as the 2021 Australian Infrastructure Plan, with its ambitious vision for the country's infrastructure development until 2036 focusing on sustainability and energy efficiency, are poised to revolutionize the infrastructure landscape in Australia, which would aid Australia HVAC Systems market growth. Australia HVAC market is facing challenges due to a rising labor shortage and increased energy consumption, which are acting as significant restraints.

According to Dhaval, Research Manager, 6Wresearch, commercial segment by application leads the Australia HVAC Systems market revenue owing to growing demand from offices and hotels. As of 2023, 942 thousand square feet of office area is under construction in the country along with an estimated 75 hotels/resorts project under various phases of development. The residential sector is expected to grow at a higher rate in the coming years owing to rising demand for housing units. Also, the number of households in Australia is expected to increase from 9.2 million in 2016 to approximately 13.2 million in 2041. Additionally, more than 24,000 apartments are under construction, out of which Melbourne and Sydney account for more than 50% of the under-construction apartments, which would surge the demand for HVAC in the coming years.

The Australia HVAC Systems Market (2023-2029) report provides an in-depth analysis with 14 figures and 4 tables, covered in 63 pages. The report comprehensively covers the market by product type and applications. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.