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Market Size

North America HVAC Market Size, Share, Trends, Growth: By Equipment: Heating, Ventilation, Cooling; By Implementation: New Constructions, Retrofits; By End Use: Residential, Commercial, Industrial; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

North America HVAC Market Size

The North America HVAC market attained a value of about USD 45.64 billion in 2021. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 4.1%.

 

North America HVAC Market Report Snapshots

North America HVAC Market Size

North America HVAC Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

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    Opportunities and Challenges in the Market
8    North America HVAC Market Analysis

    8.1    Key Industry Highlights
    8.2    North America HVAC Historical Market (2018-2023) 
    8.3    North America HVAC Market Forecast (2024-2032)
    8.4    North America HVAC Market by Equipment
        8.4.1    Heating
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
            8.4.1.3    Breakup by Type
                8.4.1.3.1    Heat Pumps
                    8.4.1.3.1.1    Historical Trend (2018-2023)
                    8.4.1.3.1.2    Forecast Trend (2024-2032)
                8.4.1.3.2    Furnaces
                    8.4.1.3.2.1    Historical Trend (2018-2023)
                    8.4.1.3.2.2    Forecast Trend (2024-2032)
                8.4.1.3.3    Boilers
                    8.4.1.3.3.1    Historical Trend (2018-2023)
                    8.4.1.3.3.2    Forecast Trend (2024-2032)
                8.4.1.3.4    Others
        8.4.2    Ventilation
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
            8.4.2.3    Breakup by Type
                8.4.2.3.1    Air-Handling Units
                    8.4.2.3.1.1    Historical Trend (2018-2023)
                    8.4.2.3.1.2    Forecast Trend (2024-2032)
                8.4.2.3.2    Air Filters and Purifiers
                    8.4.2.3.2.1    Historical Trend (2018-2023)
                    8.4.2.3.2.2    Forecast Trend (2024-2032)
                8.4.2.3.3    Ventilation Fans
                    8.4.2.3.3.1    Historical Trend (2018-2023)
                    8.4.2.3.3.2    Forecast Trend (2024-2032)
                8.4.2.3.4    Dehumidifiers and Humidifiers
                    8.4.2.3.4.1    Historical Trend (2018-2023)
                    8.4.2.3.4.2    Forecast Trend (2024-2032)
                8.4.2.3.5    Others
        8.4.3    Cooling
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
            8.4.3.3    Breakup by Type
                8.4.3.3.1    Unitary Air Conditioners
                    8.4.3.3.1.1    Historical Trend (2018-2023)
                    8.4.3.3.1.2    Forecast Trend (2024-2032)
                8.4.3.3.2    VRF System
                    8.4.3.3.2.1    Historical Trend (2018-2023)
                    8.4.3.3.2.2    Forecast Trend (2024-2032)
                8.4.3.3.3    Chillers
                    8.4.3.3.3.1    Historical Trend (2018-2023)
                    8.4.3.3.3.2    Forecast Trend (2024-2032)
                8.4.3.3.4    Window and Portable Air Conditioners
                    8.4.3.3.4.1    Historical Trend (2018-2023)
                    8.4.3.3.4.2    Forecast Trend (2024-2032)
                8.4.3.3.5    Cooling Towers
                    8.4.3.3.5.1    Historical Trend (2018-2023)
                    8.4.3.3.5.2    Forecast Trend (2024-2032)
                8.4.3.3.6    Others
    8.5    North America HVAC Market by Implementation
        8.5.1    New Constructions
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Retrofits
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    North America HVAC Market by End Use
        8.6.1    Residential
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Commercial
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Industrial
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
    8.7    North America HVAC Market by Region
        8.7.1    United States of America
        8.7.2    Canada
9    Regional Analysis
    9.1    United States of America
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
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    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Rheem Manufacturing Company
            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    Trane Technologies plc
            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    Lennox International 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    Carrier Global Corporation
            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    Daikin Industries, Ltd.
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Honeywell International Inc.
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Johnson Controls International plc
            12.2.7.1    Company Overview
            12.2.7.2    Product Portfolio
            12.2.7.3    Demographic Reach and Achievements
            12.2.7.4    Certifications
        12.2.8    Others
13    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    North America HVAC Market: Key Industry Highlights, 2017 and 2027
2.    North America HVAC Historical Market: Breakup by Equipment (USD Billion), 2018-2023
3.    North America HVAC Market Forecast: Breakup by Equipment (USD Billion), 2024-2032
4.    North America HVAC Historical Market: Breakup by Implementation (USD Billion), 2018-2023
5.    North America HVAC Market Forecast: Breakup by Implementation (USD Billion), 2024-2032
6.    North America HVAC Historical Market: Breakup by End Use (USD Billion), 2018-2023
7.    North America HVAC Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8.    North America HVAC Historical Market: Breakup by Country (USD Billion), 2018-2023
9.    North America HVAC Market Forecast: Breakup by Country (USD Billion), 2024-2032
10.    North America HVAC Market Structure

Key Questions Answered in the Report

In 2021, the North America HVAC market attained a value of nearly USD 45.64 billion.

The market is projected to grow at a CAGR of nearly 4.1% in the forecast period of 2024-2032.

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 Rheem Manufacturing Company, Trane Technologies plc, Lennox International Inc., Carrier Global Corporation, Daikin Industries, Ltd., Honeywell International Inc., and Johnson Controls International plc, among others.

Analyst Review

The North America HVAC market attained a value of nearly USD 45.64 billion in 2021, 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 2024-2032, growing at a CAGR of 4.1%.

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 Rheem Manufacturing Company, Trane Technologies plc, Lennox International Inc., Carrier Global Corporation, Daikin Industries, Ltd., Honeywell International Inc., and Johnson Controls International plc, 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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