HVAC Equipment Market Size, Share, Growth Analysis, By Cooling Equipment Self-Regulating(Unitary Air Conditioners [Low Costs and Simple Installation (Split Air Conditioners, Packaged Air conditioners)], VRF Systems, Chillers [Scroll chillers), By Heating Equipment(Heat Pumps [Air-to-air heat pumps, Air-to-water heat pumps, Water-to-water heat pumps], Furnaces [Oil furnaces), By Ventilation Equipment(Air-handling Units, Air Filters, Dehumidifiers [Crossflow fans, Axial fans), By Implementation Type(New Construction Buildings, Retrofit Buildings), By Service Type(Installation Services, Maintenance & Repair Services, Upgradation/Replacement Services, Consulting Services), By Application(Commercial [Offices, Governments, Healthcare, Education), By Region - Industry Forecast 2024-2031

In March 2024, LG Electronics unveiled its innovative Dual Air Conditioner, seamlessly blending style and functionality. This cutting-edge appliance boasts a dual outlet design, allowing for swift and precise temperature adjustments. The indirect airflow feature ensures comfort without any unpleasant drafts. Powered by the advanced Dual Inverter Heat Pump Compressor™, this air conditioner delivers efficient performance throughout the year, earning an impressive A+++ energy efficiency rating in the EU. 

In January 2024, Toshiba Carrier Corporation (TCC) announced the expansion of its Toshiba-brand Super Multi-u™ VRF series. This enhancement includes a total of 201 heat recovery models and five heating/cooling mode switch models. The heat recovery lineup features standard high-efficiency and super-high efficiency models, along with units specifically designed for cold climate regions.   

In February 2023, Rhoss, known for offering a wide range of products using A2L refrigerants, introduced the POKER290 high-temperature, low GWP reversible heat pumps. This innovative heat pump series utilizes a scroll compressor and operates at high temperatures with low global warming potential (GWP). The POKER290 range is available in a single size, ranging from approximately 48 kW to 190 kW. It can be connected with up to four units using the newly integrated sequencer SDR. 

In January 2023, Aermec announced the launch of the next generation of chilled beams. These advanced chilled beams from Aermec offer clean, healthy air and acoustic comfort while consuming less energy and reducing dependence on fossil fuels. The introduction of these adaptable HVAC solutions marks a significant step forward in providing more efficient and sustainable air conditioning options. 

In November 2022, Daikin unveiled the Emuraindoor climate management system, which combines air purification with heating and cooling capabilities. The Emura system features a sleek and unobtrusive design, making it suitable for various indoor spaces such as living rooms and offices. It aims to deliver efficient temperature control and create a comfortable environment. 

In September 2022, Trane Technologies, a leading global climate innovator, announced advancements in its electrified heating and cooling. They upgraded two well-known rooftop units, Voyager 3 and IntelliPak2, to enhance energy efficiency, building connectivity, and control. Additionally, Trane introduced the ThermafitAir-to-Water Modular Heat Pump Model AXM, a flexible all-electric heating and cooling solution. These updates aim to improve indoor comfort and air quality in warehouses and large facilities.