Heating & Cooling - New Zealand | Statista Market Forecast

In New Zealand, the revenue generated in the Heating & Cooling market is estimated to reach US$1.04bn in 2024.
It is projected to experience an annual growth rate of 2.96% (CAGR 2024-2029).
When compared to other countries worldwide, United States leads with a revenue of US$126bn in 2024.
On a per capita basis, in 2024, each person in New Zealand contributes US$197.00 in revenue to the Heating & Cooling market.
New Zealand's strong focus on renewable energy is driving a growing demand for sustainable heating and cooling solutions.

Definition:

In the segment of Heating & Cooling, the focus lies on various heating and cooling systems which can be found inside buildings. Included in this segment regarding cooling are mainly air conditioners and cooling supplies.

Additional Information:

The market consists of revenue and average revenue per capita data. Per capita figures take into account the whole population. This market includes only B2C (business to consumer) sales. B2B (business to business) sales (e. g., hardware for coffee shops, offices, etc.) are excluded. For more information on the displayed data, click the info button on the right hand side of each box.

Air conditioners & coolers
Heating systems & heaters
Stoves, fireplaces & chimneys
Heating & cooling supplies

Air treatment devices (purifier, humidifier, etc.)
Ventilators
Solar systems for heating support

The DIY & hardware store market in New Zealand has experienced minimal growth, influenced by factors such as a slowing economy, limited consumer spending, and saturation in the market. Despite this, the heating & cooling market has seen steady growth due to the high demand for energy-efficient solutions and increasing awareness of environmental sustainability. This has boosted the market's growth rate, with more consumers opting for DIY options to save costs on installation.

Customer preferences: As sustainability continues to be a growing concern among consumers, there is a notable increase in demand for environmentally-friendly heating and cooling solutions in the DIY & Hardware Store Market. This is driven by consumer preferences for eco-friendly products and the desire to reduce energy consumption and costs. Additionally, there is a trend towards smart home automation, with consumers seeking connected devices for better control and efficiency of their heating and cooling systems. This shift is influenced by the growing tech-savvy and environmentally-conscious millennial and Gen Z demographics.

Trends in the market: In New Zealand, there is a growing trend towards energy-efficient heating and cooling solutions within the DIY and hardware store market. This can be attributed to rising energy costs and increasing awareness about sustainable living. As a result, there is a growing demand for products such as smart thermostats, energy-efficient HVAC systems, and eco-friendly insulation materials. This trend is expected to continue in the coming years, with industry stakeholders focusing on providing innovative and sustainable solutions to meet the changing consumer needs. This presents opportunities for retailers and manufacturers to tap into the growing market for eco-friendly and cost-effective heating and cooling products in New Zealand.

Local special circumstances: In New Zealand, the Heating & Cooling market within the DIY & Hardware Store Market is influenced by the country's temperate climate and strong emphasis on sustainable living. The demand for energy-efficient heating and cooling solutions is high, and the market has seen a rise in options such as heat pumps and solar panels. Additionally, the country's strict building codes and regulations require all new residential buildings to have adequate insulation and ventilation, creating a strong market for these products in the DIY and hardware stores.

Underlying macroeconomic factors: The Heating & Cooling Market within the DIY & Hardware Store Market in New Zealand is heavily influenced by macroeconomic factors such as global economic conditions, the overall health of the national economy, fiscal policies, and other relevant financial indicators. Countries with favorable economic environments and government support for the DIY & Hardware Store Market market are experiencing faster growth compared to regions with economic challenges and limited funding. Moreover, the rising prevalence of extreme weather conditions and the growing focus on energy efficiency in homes is driving demand for Heating & Cooling products, creating opportunities for growth in the market.

Data coverage:

Data encompasses B2C enterprises. Figures are segmented by product type and consist of the following: Paint, Wallpaper & Supplies, Tools & Machines, Hardware and Building Materials, Lawn & Garden, Heating & Cooling, Bathroom Hardware, and Floor Covering.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as product value, import value, and export value to determine domestic supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are turnover indices, GDP per capita, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

The heating, ventilation, and air conditioning (HVAC) technology provides environmental comfort through thermal manipulation (heating and air conditioning) and acceptable indoor air quality (ventilation). Sometimes refrigeration is also included in the field as HVACR. The HVAC industry is largely fueled by regional regulations and differences: Asia was said to have one of the largest HVAC market sizes, with a larger demand for air conditioners than in other regions. Meanwhile, Italy was one of the European countries with the biggest heat pump markets in 2020. Due to these differences between countries, there is little to no comparative information on this competitive market. In the United States alone, for example, a certain level of fragmentation can be observed, as the number of employees in the plumbing and HVAC industry varied widely from state to state.