$2.5bn
$XX.Xm
5,442
371
$XXX.Xm
The Heating, Cooling and Ventilation Equipment Manufacturing industry has faced a difficult period, both shaky downstream demand and rising competition from imports have constrained performance. The industry was especially hurt by reduced demand from non-residential building construction industries since 2019-20 and lower demand from multi-unit apartment and townhouse construction. A growing proportion of Australian businesses are choosing to source purchase imported commercial HVAC equipment, which is increasingly diverting demand from the industry. Overall, industry revenue is expected to sink at an annualised 1.5% over the five years through 2023-24, to an estimated $2.5 billion. This includes an estimated 1.3% push down in 2023-24, because of a slowdown in construction caused by rising inflation and interest rates.
Industry revenue has declined at a CAGR of 1.5 % over the past five years, to reach an estimated $2.5bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
Daikin Australia | 327.0 | |
Rheem | 187.6 | |
Seeley International | 89.9 |
To view the market share and analysis for all 5 top companies in this industry, view purchase options.
Industry revenue is measured across several distinct product and services lines, including Commercial air conditioning units, Commercial refrigeration equipment and Commercial heating equipment. Commercial air conditioning units is the largest segment of the Heating, Cooling and Ventilation Equipment Manufacturing in Australia.
The rising popularity of remote working arrangements has reduced demand for commercial air conditioning units
Companies in the industry manufacture commercial or industrial HVAC (heating, ventilation and air conditioning) equipment, including installed space heaters and refrigeration products. The industry manufactures commercial-strength air conditioning systems that range from 8 kilowatts to over 5,000 kilowatts. These exclude motor vehicle air conditioners. Firms that manufacture household and automotive air conditioning and heating units are not included in the industry.
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ANZSIC 2452 - Heating, Cooling and Ventilation Equipment Manufacturing in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Growing competition from imported substitutes has constrained the performance of local HVAC manufacturers. Many businesses have lowered their prices to better compete, fuelli...
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Melbourne attracts a high proportion of businesses. Manufacturers need a steady supply of skilled labour, which attracts more businesses to large population centres.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Competition from imports has led manufacturers to focus on specialisation. Local manufacturers are focusing on product niches instead of volume production. This dynamic reduc...
Learn about the performance of the top companies in the industry.
Daikin has utilised government assistance to expand its manufacturing presence in Sydney. These investments are poised to fuel high market share over the coming years.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Supply chain difficulties are set to ease in 2023-24, as the price of key inputs, like iron and steel, are set to ease. These trends will allow manufacturers to lower their p...
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Including values and annual change:
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Key data sources in Australia include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Heating, Cooling and Ventilation Equipment Manufacturing industry in Australia is $2.5bn in 2024.
There are 371 businesses in the Heating, Cooling and Ventilation Equipment Manufacturing industry in Australia, which has grown at a CAGR of 1.6 % between 2019 and 2024.
The market size of the Heating, Cooling and Ventilation Equipment Manufacturing industry in Australia has been declining at a CAGR of 1.5 % between 2019 and 2024.
Over the next five years, the Heating, Cooling and Ventilation Equipment Manufacturing industry in Australia is expected to grow.
The biggest companies operating in the Heating, Cooling and Ventilation Equipment Manufacturing market in Australia are Daikin Australia, Rheem and Seeley International
Commercial air conditioning units and Commercial refrigeration equipment are part of the Heating, Cooling and Ventilation Equipment Manufacturing industry.
The company holding the most market share in Australia is Daikin Australia.
The level of competition is moderate and steady in the Heating, Cooling and Ventilation Equipment Manufacturing industry in Australia.