Heating & Cooling - South America

In South America, the revenue generated in the Heating & Cooling market in 2024 amounts to US$6.23bn.
It is projected that the market will experience an annual growth rate of 2.50% (CAGR 2024-2029).
When comparing the revenue on a global scale, United States generates the highest revenue in the Heating & Cooling market, with a total of US$126bn in 2024.
In terms of per capita revenue, in South America generates US$15.08 per person in 2024.
In South America, the increasing demand for energy-efficient heating and cooling systems is driving innovation in the market.

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 South America has seen modest growth, hindered by a slow rise in consumer interest and limited access to digital technologies. This, along with other factors, has led to a negligible growth rate in the Heating & Cooling Market.

Customer preferences: As the DIY & Hardware Store Market continues to grow in South America, consumers are increasingly showing a preference for eco-friendly and energy-efficient heating and cooling solutions. This trend is influenced by a growing awareness of the impact of climate change and a desire to reduce energy consumption. Additionally, with urbanization and smaller living spaces becoming more prevalent in the region, consumers are seeking compact and versatile heating and cooling options that can meet their needs without taking up too much space.

Trends in the market: In South America, the Heating & Cooling Market within the DIY & Hardware Store Market is seeing a trend of increased demand for energy-efficient products. This is in response to the growing focus on sustainability and environmental impact in the region. Industry stakeholders are also seeing a rise in smart home technology and the integration of heating and cooling systems with other home functions. This trend is expected to continue as consumers become more conscious of their energy usage and seek cost-effective solutions. Additionally, there is a growing market for online purchasing and delivery of these products, presenting opportunities for retailers to expand their reach.

Local special circumstances: In South America, the Heating & Cooling Market within the DIY & Hardware Store Market is influenced by factors unique to the region. Latin American countries have diverse geographical landscapes, including high-altitude cities and tropical regions, which require different heating and cooling solutions. Moreover, the DIY culture is not as prevalent in South America as in other regions, leading to a strong reliance on professional services for installation and maintenance. Additionally, strict building regulations in some countries drive demand for energy-efficient heating and cooling products, creating a niche market for environmentally-friendly options. The region's cultural preference for natural and sustainable products also impacts the market, with a growing demand for eco-friendly and organic materials in heating and cooling systems. These local factors contribute to the dynamics of the Heating & Cooling Market within the DIY & Hardware Store Market in South America.

Underlying macroeconomic factors: The Heating & Cooling Market within the DIY & Hardware Store Market is impacted by macroeconomic factors such as consumer spending, inflation rates, and government policies. In South America, the market is heavily influenced by the economic health of countries such as Brazil and Argentina, as well as global economic trends and currency fluctuations. Fiscal policies, such as tariffs and taxes, can also impact the market by affecting the cost of materials and products. Moreover, rising concerns about climate change and the need for sustainable solutions are driving the demand for eco-friendly heating and cooling products in the region.

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.