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North America HVAC Market: By Equipment: Heating, Ventilation, Cooling, Others; By Implementation: New Constructions, Retrofits; By End Use: Residential, Commercial, Industrial; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments

North America HVAC Market Outlook

The North America HVAC market attained a value of about USD 31 billion in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 5%.

 

The United States to Lead the HVAC Market in North America

The United States has been dominating the HVAC market share in North America and is expected to continue its dominance over the forecast years. The United States has an active presence of the key players in the global HVAC market, which is providing impetus for the growth of the HVAC industry in the country.

The United States Department of Energy has been investing heavily to improve the energy efficiency standards in the nation for sustainable development. The Department of Energy has also set up a mission to tackle the environmental and energy challenges in the nation through advanced science and technology. These steps are expected to propel the growth of environmentally friendly HVAC systems. Thus, green HVAC systems are in development in the region and are expected to improve the energy and cost efficiency of the systems.

 

North America HVAC Market

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HVAC: Industry Definition and Segmentation

HVAC indicates the heating, ventilation, and air conditioning systems. HVAC solutions are the different structures, equipment, as well as technology that are able to improve and increase comfort indoors through an optimum temperature maintenance. They can be used in diverse locations, such as residential, industrial, office, and transport vehicles.

The market is segmented on the basis of equipment into the following:

  • Heating
  • Ventilation
  • Cooling

The heating segment is subdivided into heat pumps and furnaces.

The ventilation segment can be further divided into:

  • Air-Handling Units
  • Air Filters and Purifiers
  • Ventilation Fans
  • Dehumidifiers and Humidifiers
  • Others

The cooling segment is also categorised into:

  • Unitary Air Conditioners
  • VRF System
  • Chillers
  • Room Air Conditioner
  • Coolers
  • Cooling Towers
  • Others

The HVAC industry is divided on the basis of implementation into the following:

  • New Constructions
  • Retrofits

On the basis of end use, the industry is segmented into the following:

  • Residential
  • Commercial
  • Industrial

The regional markets of HVAC in North America include the United States of America and Canada.

 

Heat Pumps to Drive the HVAC Market in North America

The heat pumps have been boosting the HVAC industry in North America because of the climatic conditions, the comfort and convenience provided by the equipment, government tax credit benefits, and the regulations formulated by the government. Heat pumps have been replacing the fossil fuelled-radiator systems in the residential sector as the heat source. Governments have also been regulating the heat pumps for their energy efficiency standards, which is expected to boost the demand for HVAC systems in the coming years. The key players operating in the HVAC industry have been increasingly investing in research and development for new and innovative technological solutions, which are further expected to propel the market ahead. The growing application of HVAC in smart homes is projected to bolster the market for HVAC in North America.

 

Key Industry Players in the North America HVAC Market

The report gives a detailed analysis of the following key players in the North America HVAC market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Daikin North America, LLC
  • Johnson Controls Inc.
  • LG Electronics Inc.
  • Panasonic Canada Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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    Snapshot
    6.1    North America
7    Industry Opportunities and Challenges
8    North America HVAC Market Analysis

    8.1    Key Industry Highlights
    8.2    North America HVAC Historical Market (2016-2020) 
    8.3    North America HVAC Market Forecast (2021-2026)
    8.4    North America HVAC Market by Equipment
        8.4.1    Heating
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
            8.4.1.4    Breakup by Type
                8.4.1.4.1    Heat Pumps
                    8.4.1.4.1.1    Market Share
                    8.4.1.4.1.2    Historical Trend (2016-2020)
                    8.4.1.4.1.3    Forecast Trend (2021-2026)
                8.4.1.4.2    Furnaces
                    8.4.1.4.2.1    Market Share
                    8.4.1.4.2.2    Historical Trend (2016-2020)
                    8.4.1.4.2.3    Forecast Trend (2021-2026)
        8.4.2    Ventilation
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
            8.4.2.4    Breakup by Type
                8.4.2.4.1    Air-Handling Units
                    8.4.2.4.1.1    Market Share
                    8.4.2.4.1.2    Historical Trend (2016-2020)
                    8.4.2.4.1.3    Forecast Trend (2021-2026)
                8.4.2.4.2    Air Filters and Purifiers
                    8.4.2.4.2.1    Market Share
                    8.4.2.4.2.2    Historical Trend (2016-2020)
                    8.4.2.4.2.3    Forecast Trend (2021-2026)
                8.4.2.4.3    Ventilation Fans
                    8.4.2.4.3.1    Market Share
                    8.4.2.4.3.2    Historical Trend (2016-2020)
                    8.4.2.4.3.3    Forecast Trend (2021-2026)
                8.4.2.4.4    Dehumidifiers and Humidifiers
                    8.4.2.4.4.1    Market Share
                    8.4.2.4.4.2    Historical Trend (2016-2020)
                    8.4.2.4.4.3    Forecast Trend (2021-2026)
                8.4.2.4.5    Others
        8.4.3    Cooling
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
            8.4.3.4    Breakup by Type
                8.4.3.4.1    Unitary Air Conditioners
                    8.4.3.4.1.1    Market Share
                    8.4.3.4.1.2    Historical Trend (2016-2020)
                    8.4.3.4.1.3    Forecast Trend (2021-2026)
                8.4.3.4.2    VRF System
                    8.4.3.4.2.1    Market Share
                    8.4.3.4.2.2    Historical Trend (2016-2020)
                    8.4.3.4.2.3    Forecast Trend (2021-2026)
                8.4.3.4.3    Chillers
                    8.4.3.4.3.1    Market Share
                    8.4.3.4.3.2    Historical Trend (2016-2020)
                    8.4.3.4.3.3    Forecast Trend (2021-2026)
                8.4.3.4.4    Room Air Conditioner
                    8.4.3.4.4.1    Market Share
                    8.4.3.4.4.2    Historical Trend (2016-2020)
                    8.4.3.4.4.3    Forecast Trend (2021-2026)
                8.4.3.4.5    Coolers
                    8.4.3.4.5.1    Market Share
                    8.4.3.4.5.2    Historical Trend (2016-2020)
                    8.4.3.4.5.3    Forecast Trend (2021-2026)
                8.4.3.4.6    Cooling Towers
                    8.4.3.4.6.1    Market Share
                    8.4.3.4.6.2    Historical Trend (2016-2020)
                    8.4.3.4.6.3    Forecast Trend (2021-2026)
                8.4.3.4.7    Others
    8.5    North America HVAC Market by Implementation
        8.5.1    New Constructions
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Retrofits
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
    8.6    North America HVAC Market by End Use
        8.6.1    Residential
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Commercial
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
        8.6.3    Industrial
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2016-2020)
            8.6.3.3    Forecast Trend (2021-2026)
    8.7    North America HVAC Market by Region
        8.7.1    Market Share
            8.7.1.1    United States of America
            8.7.1.2    Canada
9    Regional Analysis
    9.1    United States of America
        9.1.1    Market Share
        9.1.2    Historical Trend (2016-2020)
        9.1.3    Forecast Trend (2021-2026)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2016-2020)
        9.2.3    Forecast Trend (2021-2026)
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Daikin North America, LLC
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Johnson Controls Inc.
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    LG Electronics Inc.
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Panasonic Canada Inc.
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Others
13    Industry Events and Development

 

List of Figures and Tables

1.    North America HVAC Market: Key Industry Highlights, 2016 and 2026
2.    North America HVAC Historical Market: Breakup by Equipment (USD Billion), 2016-2020
3.    North America HVAC Market Forecast: Breakup by Equipment (USD Billion), 2021-2026
4.    North America HVAC Historical Market: Breakup by Implementation (USD Billion), 2016-2020
5.    North America HVAC Market Forecast: Breakup by Implementation (USD Billion), 2021-2026
6.    North America HVAC Historical Market: Breakup by End Use (USD Billion), 2016-2020
7.    North America HVAC Market Forecast: Breakup by End Use (USD Billion), 2021-2026
8.    North America HVAC Historical Market: Breakup by Country (USD Billion), 2016-2020
9.    North America HVAC Market Forecast: Breakup by Country (USD Billion), 2021-2026
10.    North America HVAC Market Structure

Key Questions Answered in the Report

In 2020, the North America HVAC market attained a value of nearly USD 31 billion.

The market is projected to grow at a CAGR of nearly 5% in the forecast period of 2021-2026.

The major drivers of the industry include rising disposable incomes, increasing applications in smart homes, and growing demand for heat pumps.

The growing R&D investments for technological improvements are expected to be the key trends guiding the growth of the industry.

The United States of America and Canada are the major regions in the market, with the United States of America accounting for the largest market share.

The heating, ventilation, and cooling equipment are the major equipment segments of the product in the market.

Commercial, industrial, and residential sectors are the leading end use sectors for HVAC in the industry.

The major implementation segments of the product in the market are new construction and retrofits.

The leading players in the market are Daikin North America, LLC, Johnson Controls Inc., LG Electronics Inc., and Panasonic Canada Inc., among others.

Analyst Review

The North America HVAC market attained a value of nearly USD 31 billion in 2020, driven by the favourable governmental initiatives. Aided by the rising construction industry, the industry is expected to witness a further growth in the forecast period of 2021-2025, growing at a CAGR of 5%.

EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on equipment, the market can be divided into heating, ventilation, and cooling. Based on implementation, the product is segmented into new construction and retrofits. On the basis of end use, the industry can be segmented into residential, commercial, and industrial. The major regional markets for HVAC in North America are the United States of America and Canada, with the United States of America accounting for the largest share of the market. The key players in the above industry include Daikin North America, LLC, Johnson Controls Inc., LG Electronics Inc., and Panasonic Canada Inc., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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