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United States HVAC market is projected
to grow at a brisk CAGR during 2023-2028. The market is expected to witness tremendous growth on
account of growing number of connected home devices with wireless technology
and availability of HVAC systems, robust distribution network, rising internet
penetration and increasing construction activities, are expected to drive the
sales of HVAC systems in the country, are some of the other factors expected to
propel demand for HVAC over the next five years.
HVAC i.e. heating, ventilation, and air conditioning
provides heating and cooling services to buildings. Before the start of this
system, these three were split into three devices but now there is a common
system for all the three. The HVAC system has become common for the new
HVAC is segmented by product type, by
end use and by region. By product type it is segmented into Direct Expansion
Systems and Central Air Conditioning Systems. By end
use, HVAC is divided into segments residential, commercial real estate, institutional,
marine, and offshore, oil and gas, power, and others. The major share of
the market is projected to be occupied by commercial segment owing to need for
providing ventilation conditions in offices.
Some of the major players operating in the United States HVAC
market are United
Technologies Corporation, Daikin North America, LLC, Ingersoll-Rand Inc.,
Johnson Control Inc., Nortek, Inc., Danfoss North America, LG Electronics
(North America), Mitsubishi Electric US, Inc., Rheem Manufacturing Company Inc,
Objective of the Study:
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TechSci Research performed primary as well as
exhaustive secondary research for this study. Initially, TechSci Research
sourced a list of HVAC manufacturers and suppliers in United States.
Subsequently, TechSci Research conducted primary research surveys with the
identified companies. While interviewing, the respondents were also enquired
about their competitors. Through this technique, TechSci Research was able to
include manufacturers that could not be identified due to the limitations of
secondary research. TechSci Research analysed product offerings, end use sector,
all major HVAC suppliers across the country.
Research calculated the market size for the HVAC market using a bottom-up
approach, where manufacturers’ value & volume sales data for different
types of (Direct Expansion Systems and Central Air Conditioning Systems) HVAC was
recorded as well as forecast for the future years was made. TechSci Research
sourced these values from industry experts and company representatives, and externally
validated through analyzing historical sales data of respective manufacturers to arrive
at the overall market size. Various secondary sources such as company annual
reports, white papers, investor presentations and financial reports were also
used by the TechSci Research.
Key Target Audience:
The study is useful in providing answers to several
critical questions that are important for industry stakeholders, such as HVAC manufacturers,
distributors, dealers and policy makers,
which market segments
should be targeted over the coming years (next five years) in order to
strategize investments and capitalize on growth of the market.
2018 – 2021
2024F – 2028F
USD Million, and CAGR for 2018-2022 and 2023E-2028F
forecast, company share, competitive landscape, growth factors, and trends
End Use Sector
West-Region, Mid-West Region & Northeast-Region
Corporation, Daikin North America, LLC, Ingersoll-Rand Inc., Johnson Control
Inc., Nortek, Inc., Danfoss North America, LG Electronics (North America), Mitsubishi
Electric US, Inc., Rheem Manufacturing Company Inc, Electrolux AB
report customization with purchase. Addition or alteration to regional &
and Purchase Options
customized purchase options to meet your exact research needs. Explore purchase
PDF and Excel through Email (We can also
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In this report, United States HVAC market has been
segmented into following categories, in addition to the industry trends which
have also been detailed below:
Competition Benchmarking: Benchmarking of
leading 10 players on the basis of product portfolio, market pricing, average
selling price sales footprint, etc.
Company Profiles: Detailed analysis of the major
companies present in the United States HVAC market.
Competition Outlook: Top
companies, market and competition scenario.
With the given market data, TechSci Research offers
customizations according to the company’s specific needs. The following
customization options are available for the report:
Channel Partner Analysis
In case you don’t find what
you are looking for, please get in touch with our custom research team at [email protected]
2. Research Methodology
3. Impact of COVID-19
on United States HVAC Market
Global HVAC Market
United States HVAC Market Outlook
6.1. Market Size &
6.1.1. By Value &
6.2. Market Share &
6.2.1. By Product Type
(Direct Expansion Systems and Central Air Conditioning Systems)
6.2.2. By End User (Residential,
Commercial, Institutional, Industrial)
6.2.3. By Region
(Northeast, Midwest, South and West)
6.2.4. By Company (2022)
6.3. Product Market Map
United States Direct Expansion Systems Market Outlook
7.1. Market Size &
7.1.1. By Value &
7.2. Market Share &
7.2.1. By Type (Split,
Window, Ductable Split, VRF, Cassette and Others)
7.2.2. By End User
United States Central Air Conditioning Systems Market
8.1. Market Size & Forecast
8.1.1. By Value &
8.2. Market Share &
8.2.1. By Type (Chillers, Boilers, Cooling Towers,
Air Handling Units, Fan Coil Units, HVAC Control System, Others)
8.2.2. By End User Sector
HVAC Supply Chain
10. Import & Export
Market Trends & Developments
Policy & Regulatory Landscape
United States Economic Profile
15.1. Company Profiles
15.1.1. United Technologies
North America, LLC
15.1.3. Ingersoll-Rand Inc.
15.1.4. Johnson Control Inc.
15.1.5. Nortek, Inc.
15.1.6. Danfoss North America
15.1.7. LG Electronics (North
15.1.8. Mitsubishi Electric US, Inc.
15.1.9. Rheem Manufacturing Company
16. Strategic Recommendations
The introduction of connected HVAC systems and the growing disposable income of the consumers, and the ongoing construction activities are driving the United States HVAC Market demand.
United Technologies Corporation, Daikin North America, LLC, Ingersoll-Rand Inc., Johnson Control Inc., Nortek, Inc., Danfoss North America, LG Electronics (North America), Mitsubishi Electric US, Inc., Rheem Manufacturing Company Inc, Electrolux AB are the major market players operating in the United States HVAC Market.
Based on product type, the market is divided into direct expansion systems and central air conditioning systems. The direct expansion systems are expected to account for a significant market share in the forecast period due to their high demand from the residential sector and ease of installation, and lower maintenance cost compared to its counterparts.
Based on the end user, the market is divided into segments residential, commercial real estate, institutional, marine, and offshore, oil and gas, power, and others. The commercial segment is expected to hold the largest market share in the forecast period due to rise in construction of commercial buildings and the high demand for installation of ventilation system in commercial buildings.
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