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North America HVAC Compressor Market

North America HVAC Compressor Market Size, Share, Growth, Trends, Price, Forecast: By Product: Single Stage Scroll Compressor, 2-stage Scroll Compressor, Variable Speed Scroll Compressor; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032

North America HVAC Compressor Market Outlook

The North America HVAC compressor market reached an approximate value of USD 908.73 million in 2023. The market is assessed to grow at a CAGR of 5.90% between 2024 and 2032, reaching a value of around USD 1,522.29 million by 2032.

 

Key Trends in the Market

An HVAC compressor is one of the most important parts found in heating, ventilation, and air conditioning (HVAC) systems, usually located in the outdoor unit or the heat pump. It plays a crucial role in the cooling process by compressing refrigerant gas and pumping it through the system. It is driven by an electric motor and is responsible for circulating refrigerant through the HVAC system's refrigeration cycle.

 

North America HVAC Compressor Market

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  • The North America HVAC compressors market value is likely to surge during the forecast period due to the rising awareness regarding the benefits of energy-efficient HVAC systems. With the implementation of various standards aimed at improving the performance and efficiency of HVAC systems by federal and state governments, HVAC companies are proactively diversifying their product portfolio to include energy-efficient solutions, including compressors.
  • There is a growing awareness about indoor air quality and its impact on human health and comfort. Customers are also becoming more aware of the crucial role of HVAC systems in maintaining optimal indoor air quality by regulating temperature, humidity, and ventilation. Thus, the rising focus on indoor air quality has augmented the demand for advanced HVAC compressors.
  • The rapid integration of advanced technologies such as AI, IoT, and machine learning with HVAC systems enables the analysis of external data such as the number of occupants in a room, individual occupant comfort preferences, humidity levels, and outside temperature. This integration opens up new possibilities for optimising HVAC system performance and enhancing overall occupant experience.

 

Market Analysis

Based on the product, the market is segmented into single-stage scroll compressors, 2-stage scroll compressors, and variable speed scroll compressors. On the basis of country, the market bifurcations include the United States of America and Canada.

 

North America HVAC Compressor Market

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The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the North America HVAC compressor market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.

 

  • Danfoss A/S
  • Emerson Electric Co.
  • Daikin Industries Ltd.
  • Mitsubishi Electric Corporation
  • LG Corporation
  • Hitachi, Ltd.
  • Tecumseh Products Company LLC
  • Panasonic Holdings Corporation
  • Nidec Motor Corporation
  • Mayekawa Mfg. Co., Ltd.
  • GEA Group Aktiengesellschaft
  • Others

 

Market Share by Product

Single-stage scroll compressors are expected to hold a significant share of the market as they are presented as a less complicated and cost-effective product. They are the most widely used compressors in household air cooling systems as they are compact and operate at a uniform speed. Moreover, these compressors have fewer moving parts, due to which they boast a smooth and quiet performance.

 

Market Share by Country

The United States is expected to account for a major portion of the North America HVAC compressor market share. The market in this country is being driven by the increasing deployment of emerging technologies, including IoT, AI, blockchain, machine learning, and others in HVAC systems.

 

North America HVAC Compressor Market

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Furthermore, growing disposable incomes and the rising demand for HVAC equipment for personal comfort are fuelling the growth of the market.

 

Competitive Landscape

Danfoss A/S is a global company that engineers innovative solutions for energy efficiency, climate-friendly technologies, and infrastructure systems. The company was founded in 1933 in Nordborg, Denmark. The company has a diverse product portfolio that encompasses a wide range of technologies and applications.

 

Emerson Electric Co., commonly known as Emerson, is a multinational technology and engineering company based in the United States. It was founded in 1890 and its headquarters is located in Missouri, the United States. The company has since grown into a global leader in providing innovative solutions for a wide range of industries.

 

Daikin Industries Ltd. Is a global company that specialises in manufacturing and selling air conditioning, heating, ventilation, and refrigeration equipment. Established in 1924 and headquartered in Osaka, Japan, Daikin has developed and expanded to become a leading figure among air conditioning manufacturers, renowned for its innovative technology and high-quality products. The company operates with a strong focus on research and development.

 

Other market players in the North America HVAC compressor market include Mitsubishi Electric Corporation, LG Corporation, Hitachi, Ltd., Tecumseh Products Company LLC, Panasonic Holdings Corporation, Nidec Motor Corporation, and Mayekawa Mfg. Co., Ltd., and GEA Group Aktiengesellschaft, among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Region
Breakup by Product
  • Single Stage Scroll Compressor
  • 2-stage Scroll Compressor
  • Variable Speed Scroll Compressor
Breakup by Region
  • United States of America
  • Canada
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Danfoss A/S
  • Emerson Electric Co.
  • Daikin Industries Ltd.
  • Mitsubishi Electric Corporation
  • LG Corporation
  • Hitachi, Ltd.
  • Tecumseh Products Company LLC
  • Panasonic Holdings Corporation
  • Nidec Motor Corporation
  • Mayekawa Mfg. Co., Ltd.
  • GEA Group Aktiengesellschaft
  • Others

 

North America HVAC Compressor Market Report Snapshots

North America HVAC Compressor Market Size

North America HVAC Compressor Market Share

North America HVAC Compressor Market Analysis

North America HVAC Compressor Companies

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers    
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
7    Opportunities and Challenges in the Market
8    Global HVAC Compressor Market Overview

    8.1    Key Industry Highlights
    8.2    Global HVAC Compressor Historical Market (2018-2023) 
    8.3    Global HVAC Compressor Market Forecast (2024-2032)
    8.4    Global HVAC Compressor Market Share by Region
        8.4.1    North America
        8.4.2    Europe
        8.4.3    Asia Pacific
        8.4.4    Latin America
        8.4.5    Middle East and Africa
9    North America HVAC Compressor Market Overview
    9.1    Key Industry Highlights
    9.2    North America HVAC Compressor Historical Market (2018-2023) 
    9.3    North America HVAC Compressor Market Forecast (2024-2032)
10    North America HVAC Compressor Market by Product
    10.1    Single Stage Scroll Compressor
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    2-stage Scroll Compressor
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    Variable Speed Scroll Compressor
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
11    North America HVAC Compressor Market by Country
    11.1    United States of America
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Canada
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
12    Market Dynamics
    12.1    SWOT Analysis
        12.1.1    Strengths
        12.1.2    Weaknesses
        12.1.3    Opportunities
        12.1.4    Threats
    12.2    Porter’s Five Forces Analysis
        12.2.1    Supplier’s Power
        12.2.2    Buyer’s Power
        12.2.3    Threat of New Entrants
        12.2.4    Degree of Rivalry
        12.2.5    Threat of Substitutes
    12.3    Key Indicators of Demand
    12.4    Key Indicators of Price
13    Competitive Landscape
    13.1    Market Structure
    13.2    Company Profiles
        13.2.1    Danfoss A/S
            13.2.1.1    Company Overview
            13.2.1.2    Product Portfolio
            13.2.1.3    Demographic Reach and Achievements
            13.2.1.4    Certifications
        13.2.2    Emerson Electric Co.
            13.2.2.1    Company Overview
            13.2.2.2    Product Portfolio
            13.2.2.3    Demographic Reach and Achievements
            13.2.2.4    Certifications
        13.2.3    Daikin Industries Ltd.
            13.2.3.1    Company Overview
            13.2.3.2    Product Portfolio
            13.2.3.3    Demographic Reach and Achievements
            13.2.3.4    Certifications
        13.2.4    Mitsubishi Electric Corporation
            13.2.4.1    Company Overview
            13.2.4.2    Product Portfolio
            13.2.4.3    Demographic Reach and Achievements
            13.2.4.4    Certifications
        13.2.5    LG Corporation
            13.2.5.1    Company Overview
            13.2.5.2    Product Portfolio
            13.2.5.3    Demographic Reach and Achievements
            13.2.5.4    Certifications
        13.2.6    Hitachi, Ltd.
            13.2.6.1    Company Overview
            13.2.6.2    Product Portfolio
            13.2.6.3    Demographic Reach and Achievements
            13.2.6.4    Certifications
        13.2.7    Tecumseh Products Company LLC
            13.2.7.1    Company Overview
            13.2.7.2    Product Portfolio
            13.2.7.3    Demographic Reach and Achievements
            13.2.7.4    Certifications
        13.2.8    Panasonic Holdings Corporation
            13.2.8.1    Company Overview
            13.2.8.2    Product Portfolio
            13.2.8.3    Demographic Reach and Achievements
            13.2.8.4    Certifications
        13.2.9    Nidec Motor Corporation
            13.2.9.1    Company Overview
            13.2.9.2    Product Portfolio
            13.2.9.3    Demographic Reach and Achievements
            13.2.9.4    Certifications
        13.2.10    Mayekawa Mfg. Co., Ltd.
            13.2.10.1    Company Overview
            13.2.10.2    Product Portfolio
            13.2.10.3    Demographic Reach and Achievements
            13.2.10.4    Certifications
        13.2.11    GEA Group Aktiengesellschaft
            13.2.11.1    Company Overview
            13.2.11.2    Product Portfolio
            13.2.11.3    Demographic Reach and Achievements
            13.2.11.4    Certifications
        13.2.12    Others
14    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global HVAC Compressor Market: Key Industry Highlights, 2018 and 2032
2.    North America HVAC Compressor Market: Key Industry Highlights, 2018 and 2032
3.    North America HVAC Compressor Historical Market: Breakup by Product (USD Million), 2018-2023
4.    North America HVAC Compressor Market Forecast: Breakup by Product (USD Million), 2024-2032
5.    North America HVAC Compressor Historical Market: Breakup by Country (USD Million), 2018-2023
6.    North America HVAC Compressor Market Forecast: Breakup by Country (USD Million), 2024-2032
7.    North America HVAC Compressor Market Structure

Key Questions Answered in the Report

In 2023, the market reached a value of about USD 908.73 million.

The market is assessed to grow at a CAGR of 5.90% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 1,522.29 million by 2032.

The market is being driven by the increasing awareness of the importance of indoor air quality and the rising demand for energy-efficient HVAC systems.

The key trends propelling the market growth are the implementation of stringent standards for the development of improved HVAC systems and the increasing integration of advanced technologies such as artificial intelligence, machine learning, and IoT in HVAC systems.

The major countries in the market include the United States of America and Canada.

The different products considered in the market report include single stage scroll compressor, 2-stage scroll compressor, and variable speed scroll compressor.

The key players in the North America HVAC compressor market include Danfoss A/S, Emerson Electric Co., Daikin Industries Ltd., Mitsubishi Electric Corporation, LG Corporation, Hitachi, Ltd., Tecumseh Products Company LLC, Panasonic Holdings Corporation, Nidec Motor Corporation, Mayekawa Mfg. Co., Ltd., and GEA Group Aktiengesellschaft, among others.

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