According to Cognitive Market Research, the global HVAC Packaged Unit market size will be USD 52154.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.50% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 20861.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 15646.35 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 11995.54 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 2607.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1043.09 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
The commercial segment dominates the HVAC packaged unit market due to the high demand from various industries such as retail, hospitality, healthcare, and data centers
