According to the report by Expert Market Research (EMR), the Chile HVAC market size reached a value of USD 550.24 million in 2023. Aided by the changing climate patterns and infrastructure development, the market is projected to further grow at a CAGR of 3.8% between 2024 and 2032 to reach a value of around USD 769.44 million by 2032.
HVAC, which stands for heating, ventilation, and air conditioning, refers to the technology and systems used to control the indoor environment of buildings, including residential, commercial, and industrial spaces. Such systems play a crucial role in ensuring the comfort, safety, and health of occupants while also contributing to energy efficiency and environmental sustainability.
With rising energy costs and environmental concerns, there is a growing emphasis on energy-efficient HVAC systems that reduce electricity consumption, lower carbon emissions, and comply with energy efficiency standards and regulations.
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Building owners, developers, and government agencies are investing in energy-efficient HVAC technologies, such as variable refrigerant flow (VRF) systems, heat pumps, and energy recovery ventilation (ERV) systems, to optimise energy performance and reduce operating costs. This is expected to drive the Chile HVAC market expansion in the coming years.
Rapid urbanisation and infrastructure development projects, particularly in metropolitan areas such as Santiago, Valparaíso, and Concepción, are driving the demand for HVAC systems in residential, commercial, and industrial buildings. The construction of high-rise buildings, shopping malls, hotels, hospitals, and office complexes is also expected to contribute to the Chile HVAC market growth for ensuring occupant comfort and operational efficiency in the forecast period.
HVAC systems equipped with advanced filtration, air purification, and humidity control features help to remove pollutants, control humidity levels, and prevent the spread of airborne diseases. Increasing awareness of indoor air pollution, allergens, and airborne contaminants is one of the key trends aiding the Chile HVAC market expansion.
Chile HVAC Market Segmentation
The market can be divided based on equipment, implementation type, and end use.
Market Breakup by Equipment
- Heating
- Ventilation
- Cooling
Market Breakup by Implementation Type
- New Constructions
- Retrofits
Market Breakup by End Use
- Residential
- Commercial
- Industrial
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Competitive Landscape of Chile HVAC Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Chile HVAC market. Some of the major players explored in the report by Expert Market Research are as follows:
- LG Electronics, Inc.
- Carrier Global Corporation
- Daikin Industries, Ltd
- Lennox International, Inc.
- Johnson Controls International plc
- Ingersoll Rand Inc.
- Toshiba Corporation
- Others
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