Heating, Ventilation, And Air Conditioning (HVAC) Centrifugal Compressors Market Landscape 2025: Forecast Data and Growth Strategy Insights

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What Is the Expected CAGR for the Heating, Ventilation, And Air Conditioning (HVAC) Centrifugal Compressors Market Through 2025?
In recent years, there has been significant growth in the market size of the heating, ventilation, and air conditioning (HVAC) centrifugal compressors. The market, which stood at $1.16 billion in 2024, is projected to escalate to $1.23 billion by 2025, registering a compound annual growth rate (CAGR) of 6.2%. Factors that contributed to the growth during the historic period include urbanization and commercial construction activities, industrialization in developing economies, increasing demand for centralized cooling systems, emphasis on energy efficiency in buildings, and the expansion of data centers.

What's the Projected Size of the Global Heating, Ventilation, And Air Conditioning (HVAC) Centrifugal Compressors Market by 2029?
In the upcoming years, the market of HVAC (heating, ventilation, and air conditioning) centrifugal compressors is set to experience a notable thrust, reaching a market size of $1.54 billion in 2029, with a 5.8% compound annual growth rate (CAGR). This anticipated market surge during the projection period can be connected to the expansion of environmentally friendly building projects, implementation of stricter energy efficiency laws, the use of low-GWP refrigerants, increased demand from high-performance computing facilities, and infrastructural modernization. Key market trends to look out for include progress in oil-free compressor technology, investment in research and development for energy-efficient designs, application of digital twin technology, introduction of variable speed compressors, and revolutionary strides in the field of low-emission refrigerants.

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Top Growth Drivers in the Heating, Ventilation, And Air Conditioning (HVAC) Centrifugal Compressors Industry: What's Accelerating the Market?
The expansion of commercial construction is set to boost the heating, ventilation, and air conditioning (HVAC) centrifugal compressors market. Commercial construction involves the creation of structures for business operations. The rise in commercial construction is triggered by urbanisation, with more individuals relocating to cities, leading to higher demand for office buildings, retail establishments, and infrastructure that facilitates economic activity and urban living. HVAC centrifugal compressors are extremely beneficial in commercial construction to supply effective and dependable cooling for large structures such as office buildings, shopping centres, hospitals, and hotels. For example, in July 2025, the U.S. Census Bureau, a U.S. government agency, reported that U.S. office construction expenditures reached $42,249 million in 2024, a 1.7% increase from $41,537 million in 2023. Therefore, the surge in commercial construction is prompting the growth of the HVAC centrifugal compressors market.

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What Trends Will Shape the Heating, Ventilation, And Air Conditioning (HVAC) Centrifugal Compressors Market Through 2029 and Beyond?
Leading firms in the HVAC centrifugal compressors industry are prioritising the creation of advanced products like the two-stage compressor-based centrifugal chillers to enhance cooling efficiency and minimise operational expenses in large commercial and industrial uses. These types of chillers operate by utilising a two-stage compression mechanism, which increases refrigerant pressure more efficiently, saves energy, and improves overall performance. They are an excellent fit for large-scale HVAC systems due to their superior part-load efficiency and accurate temperature control. For instance, in October 2024, Daikin Applied, an American HVAC solutions company, introduced the Magnitude WME-D, a novel water-cooled centrifugal chiller equipped with an oil-free compressor. This chiller utilizes low-global warming potential (GWP) R-515B refrigerant and performs up to 40% more efficiently than earlier models. It not only delivers incredible energy efficiency but also diminishes carbon emissions and helps achieve sustainability targets for commercial building cooling applications. Furthermore, it features a quiet operation and offers easy integration into both new and legacy chilled water systems.

What Are the Main Segments in the Heating, Ventilation, And Air Conditioning (HVAC) Centrifugal Compressors Market?
The heating, ventilation, and air conditioning (hvac) centrifugal compressors market covered in this report is segmented -

1) By Type: Single-Stage Compressors, Multi-Stage Compressors, Magnetically Levitated Compressors, Centrifugal Chillers
2) By Capacity: Low, Medium, High
3) By Application: Industrial, Commercial
4) By End-User: Commercial Buildings, Manufacturing And Industrial Facilities, Healthcare Facilities, Data Centers, Retail Spaces

Subsegments:
1) By Single-Stage Compressors: Fixed Speed Compressors, Variable Speed Compressors, Oil-Free Compressors, Oil-Lubricated Compressors
2) By Multi-Stage Compressors: Two-Stage Compressors, Three-Stage Compressors, Intercooled Compressors, High-Pressure Compressors
3) By Magnetically Levitated Compressors: Permanent Magnet Motor Compressors, Integrated Variable Frequency Drive Compressors, High-Efficiency Chiller Compressors, Low-Noise Compressors
4) By Centrifugal Chillers: Air-Cooled Chillers, Water-Cooled Chillers, Modular Chillers, Smart Connected Chillers

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Which Top Companies are Driving Growth in the Heating, Ventilation, And Air Conditioning (HVAC) Centrifugal Compressors Market?
Major companies operating in the heating, ventilation, and air conditioning (hvac) centrifugal compressors market are Mitsubishi Electric Corporation, Hitachi Ltd., LG Electronics Inc., Panasonic Corporation, Daikin Industries Ltd., Johnson Controls International plc, Trane Technologies plc, Atlas Copco AB, Danfoss A/S, Ingersoll Rand Inc., Shanghai Highly (Group) Co. Ltd., Bitzer Kühlmaschinenbau GmbH, Fusheng Co. Ltd., Embraco S.A., Elgi Equipments Limited, Frascold S.p.A., Rotating Machinery Services Inc., Smardt Chiller Group Inc., Celeroton AG, Mayekawa Mfg. Co. Ltd.

Which Regions Will Dominate the Heating, Ventilation, And Air Conditioning (HVAC) Centrifugal Compressors Market Through 2029?
North America was the largest region in the heating, ventilation, and air conditioning (HVAC) centrifugal compressors market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the heating, ventilation, and air conditioning (hvac) centrifugal compressors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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