HVAC CABLES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

HVAC Cables Market Size and Trends

The Global HVAC Cables Market is estimated to be valued at US$ 18.12 Bn in 2024 and is expected to reach US$ 28.14 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

To learn more about this report, request sample copy

Rapid growth in commercial and residential construction activities across developing nations such as India, China, and other Asian countries is expected to drive the demand for HVAC cables during the forecast period.

Increasing demand for energy efficient and eco-friendly cooling and heating systems is expected to support the growth of the global HVAC cables market during the forecast period. Stringent regulations regarding emission levels from various countries is further expected to propel the demand for HVAC cables.

HVAC system upgrades and repairs

As HVAC systems across commercial and residential properties age, the demand for system upgrades and repairs is increasing. Many HVAC systems installed 5-10 years ago are nearing the end of their useful lifespan and require modernization to improve efficiency and functionality. This presents a major opportunity for HVAC cable suppliers as outdated wiring often must be replaced. Properties with older HVAC units are recognizing the long-term cost savings of upgrading to new high-performance systems that integrate smart technologies and meet current energy codes. Repairing or replacing deteriorating cables is a necessary part of any HVAC system retrofit or replacement project. The growing installed base of aging HVAC equipment essentially guarantees steady demand for HVAC cables into the future as facilities keep existing systems operational through repairs and periodic replacements. Many owners are also taking advantage of HVAC retrofits to install building management systems that require new low-voltage cables for advanced controls and connectivity.

Green building growth and energy codes

Sustainability initiatives and stricter energy efficiency codes are driving increased HVAC cable demand. More construction projects are pursuing green building certifications that mandate the use of energy-efficient HVAC technologies. This often involves installing complex controls networks and integrated systems that rely on low-voltage wiring. At the same time, baseline energy codes for new buildings and major remodels have gotten substantially more stringent in recent cycles. Meeting current requirements generally demands HVAC equipment and design upgrades, which translate to greater cable needs. Contractors report installing 30-50% more cable in new projects versus a decade ago. Governments are also providing incentives for HVAC replacements and retro-commissioning projects targeting aged commercial and public buildings. More rigorous compliance testing under revised codes further boosts cable usage. As sustainability remains a key priority and codes evolve to reduce carbon footprints, the green building trend and regulatory changes are projected to lift HVAC cable consumption substantially in the coming years.