United States Commercial
HVAC Market is anticipated to project robust growth in the forecast period on
account of increasing use of office space, developing new commercial
infrastructure, and product innovation, etc. In the next five years, the
government's emphasis on updating and building new commercial infrastructure and
technology advancements in HVAC systems which will contribute to market growth
in the United States.
Moreover, factors such
as extreme climatic conditions, expanding construction activities, increased
demand for office space in the nation, and increased availability of highly
efficient equipment are some of the reasons driving the market's expansion. The
growing need for energy-efficient systems is another significant factor driving
the commercial HVAC industry. This industry is expanding due to the preferential
shift toward environmentally friendly technology brought on by rising
environmental consciousness.
Furthermore, major
commercial HVAC companies are opting various strategies such as merger,
acquisitions, partnerships, etc. to expand their services. For instance, in
2022, Carrier signed agreement to acquire Toshiba's global VRF and light
commercial HVAC business to strengthen its position in one of the
fastest-growing HVAC segments. Carrier's acquisition includes all TCC's innovative
research & development facilities, worldwide production facilities,
product pipeline, and the long-term use of Toshiba's brand.
Also, market players are
emphasizing on spreading information regarding the commercial HVAC products to
enhance their consumer base. For instance, in 2022, Yanmar America
participated in the Georgia Association of State Facilities
Administrators' fall conference. The annual event brings together Georgia
State facilities managers for intensive workshops, educational sessions, and a
trade show. The participation in the conference was focused
on discussing the company's Variable Refrigerant Flow (VRF) gas heat
pump air conditioning systems.
Additionally, companies
have been focusing on expanding their manufacturing and production services to
boost their market share. For instance, in 2022, Modine announced full scale
production of chillers for the data center market at their new production
facility in Virginia, and additionally confirmed a substantial order with data
center company, Corscale, with prospects for further business in the coming
months.
Growing Demand for
Building Automation and Control Systems Fueling the Market Growth
The security, mechanical,
HVAC, and humidity control systems were all designed to be controlled and
monitored by the building automation system. Total control over the structure
and autonomous facilities is the main objective of constructing an automation
system. The market for building automation systems is expanding due to
increased preference for smart and environment friendly structures among
consumers, which is boosting the need for HVAC systems.
New Product Launches by Market
Players Aiding the Market Growth
To cater the increasing
demand, commercial HVAC market players are launching new products and expanding
their product portfolio in United States. For instance, in 2022, GE
Appliances exhibited a new division at the 2022 AHR Expo. The new product
division includes gas furnaces, packaged units, air conditioners, heat pumps,
air handlers, and evaporator coils. These factors are anticipated to further
boost the market growth during the forecast period at the country level.
Booming Commercial
Sector Boosting Market Growth
The construction
industry is a key driver of rising demand for HVAC systems. The need for HVAC
systems has expanded along with the construction of commercial buildings,
fueling the expansion of the commercial HVAC market in the United States. The
need for HVAC is anticipated to increase in the upcoming years due to the
continued building of malls, schools, metros, airports, supermarkets, retail
centers, and other structures around the nation. Several significant
manufacturers are projected to expand their operations and manufacturing
facilities in the United States over the course of the forecast period as
commercial sector construction rises.