Market Size & Trends

The Mexico air conditioning and ventilation system market size was estimated at USD 857.5 million in 2023 and is projected to grow at a CAGR of 5.0% from 2024 to 2030. The market growth is driven by the continuous expansion of the commercial sector in the country, which includes retail spaces, office buildings, and hospitality establishments. Moreover, the push toward sustainability and the presence of a regulatory environment in the country that favors green technologies are encouraging investments in eco-friendly air conditioning & ventilation systems.

Increasing requirements for comfortable and controlled environments in the hospitality, IT, retail, and manufacturing industries are contributing to the growth of this segment of the market. The industrial sector in Mexico has been increasingly adopting air conditioning systems that not only provide efficient cooling but also adhere to stringent environmental regulations.

Gather more insights about the market drivers, restrains and growth of the Mexico Air Conditioning And Ventilation System Market

Drivers, Opportunities & Restraints

The economic growth of Mexico, coupled with ongoing urbanization, has led to a boom in commercial and industrial construction in the country. As several new businesses are investing in the establishment of their production facilities, with the existing companies expanding their current capacities, there is a surge in requirement for modern office buildings, retail spaces, manufacturing plants, and warehouses in Mexico. 

Product Insights

“The demand for the ventilation system segment is expected to grow at a significant CAGR of 5.3% from 2024 to 2030 in terms of revenue.” The air conditioning system segment held 50.6% of the Mexico revenue share in 2023. Air conditioning systems have become essential to modern living, offering comfort and improved air quality in various settings.

Application Insights

“The growth of the industrial segment is expected to grow at a significant CAGR of 4.6% from 2024 to 2030 in terms of revenue.” The commercial segment held 75% of Mexico's revenue share in 2023. Air conditioning & ventilation systems in commercial applications play critical roles in ensuring comfortable and healthy environments for both employees and customers.

Country Insights

“The growth of the Morelos region is expected to grow at a significant CAGR of 5.0% from 2024 to 2030 in terms of revenue.” Mexico City air conditioning & ventilation system market was valued at USD 135.8 million in 2023. The market is driven by the city's expanding urban population, its modern architectural developments, and the increasing recognition of the importance of indoor air quality. As one of the largest and most densely populated cities in the world, Mexico City faces unique challenges related to air pollution and temperature control, making the adoption of efficient and environmentally friendly HVAC systems a priority for both residential and commercial sectors.

Key Mexico Air Conditioning And Ventilation System Company Insights

Some of the key players operating in the market include Carrier Corporation., DAIKIN INDUSTRIES, Ltd, and Johnson Controls.

• Carrier Corporation business segments include refrigeration, HVAC, and fire & security. It offers heat pumps, air conditioners, boilers, furnaces, air purifiers, humidifiers, dehumidifiers, ventilators, air scrubbers, thermostats, UV lamps, energy services, and building controls to the retail, commercial, transport, and food service sectors.
• DAIKIN INDUSTRIES Ltd manufactures and sells air conditioning systems and chemical products. The company owns 313 consolidated subsidiaries worldwide and offers air conditioning systems, room heating and heat pumps, hot water supply systems, room air conditioning systems, packaged air conditioning systems, and air conditioning systems for plants, facilities, and office buildings.

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Key Mexico Air Conditioning And Ventilation System Companies:

• Carrier
• DAIKIN INDUSTRIES, Ltd
• Johnson Controls Inc.
• Lennox International, Inc.
• Trane
• Samsung Electronics Co., Ltd.
• LG Electronics
• Mitsubishi Corporation
• Honeywell International Inc.
• Panasonic Holdings Corporation
• Fujitsu
• Midea
• Rheem Manufacturing Company
• Danfoss
• Robert Bosch GmbH

Mexico Air Conditioning And Ventilation System Market Segmentation

Grand View Research has segmented the Mexico air conditioning & ventilation system market based on product, application, and country:

Mexico Air Conditioning And Ventilation System Product Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

• Air Conditioning System
• Ventilation System

Mexico Air Conditioning And Ventilation System Application Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

• Commercial
• Industrial

Mexico Air Conditioning And Ventilation System Country Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

• Aguascalientes
• Baja California
• Baja California Sur
• Campeche
• Chiapas
• Chihuahua
• Coahuila
• Colima
• Durango
• Guanajuato
• Guerrero
• Hidalgo
• Jalisco
• México
• Mexico City
• Michoacán
• Morelos
• Nayarit
• Nuevo León
• Oaxaca
• Puebla
• Querétaro
• Quintana Roo
• San Luis Potosí
• Sinaloa
• Sonora
• Tabasco
• Tamaulipas
• Tlaxcala
• Veracruz
• Yucatán
• Zacatecas

Order a free sample PDF of the Mexico Air Conditioning And Ventilation System Market Intelligence Study, published by Grand View Research.

Recent Developments

• In July 2024, Bosch Group acquired the global residential and light commercial HVAC business of Johnson Controls and the Johnson Controls-Hitachi Air Conditioning (JCH) joint venture for USD 8 billion.
• In January 2024, LG Electronics announced the opening of a new scroll compressor production line at its factory in Monterrey, Mexico. This new line will bolster LG’s scroll compressor manufacturing infrastructure, enabling the company to produce more of its acclaimed, eco-conscious solutions while creating a shorter supply chain for servicing customers across North America.

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

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