HVAC Relay Market Size

HVAC Relay Market size was over USD 1.8 billion in 2024 and is anticipated to cross USD 4.18 billion by 2037, growing at more than 6.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of HVAC relay is assessed at USD 1.9 billion. The growth of the market can be attributed to the rising demand for heating, ventilation, and air conditioning systems, increasing construction of non-residential buildings around the world, and growing investments to set up HVAC systems. For instance, it is calculated that the demand for HVAC equipment increased by approximately 7 percent since 2019, whereas the shipment for the same rose by almost 6 percent every year since the same year. Further, the incredibly surging investments to install the HVAC systems is another major factor that is anticipated to accelerate the growth of the global HVAC relay market during the forecast period.

In addition to these, factors that are believed to fuel the market growth of HVAC relay include the rising trend of green buildings on the back of escalating implementation of stringent government regulations associated with energy efficiency and savings, as green buildings utilize less energy and water as compared to conventional buildings. For instance, in 2020, there were more than 128,000 green-rated buildings across the globe. Moreover, an upsurge in industrialization throughout the world is also anticipated to further drive market growth during the forecast period.