The U.S. HVAC market by revenue is expected to grow at a CAGR of approx. 4% during the period 2019–2025.
The HVAC market is majorly influenced by growth and innovations in construction technologies and building designs. In fact, the major revenue in the industry is generated from installation of HVAC equipment in residential and commercial building constructions. Although installation is key revenue generating avenue in market, regular services and maintenance of existing HVAC systems is one the major influential driver that fuels the growth in demand across the country with consistent growth rate.
Arizton’s latest market research report considers the present scenario of the U.S. HVAC market and its market dynamics for the period 2019−2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
U.S. HVAC Market – Dynamics
Here are list of trends and drivers that are impacting the revenues and profitability in the U.S. HVAC market:
- Increasing Demand for Smart HVAC
- Rising Popularity of Annual Maintenance Contract
- Increasing End-Use Applications
- Growth in Construction Industry
- Increasing Concerns for Energy Efficiency
- Rising Number of VRF Systems in Buildings
U.S. HVAC Market – Segmentation
This research report includes a detailed segmentation by equipment, application, and geography.
- Majority of equipment used in HVAC industry overlap with the functioning of other. For instance, air filters that are used in ventilation systems are also used as an essential element in air-conditioners to prevent the flow of dust into the equipment. Therefore, there are several factors that induces the demand for HVAC equipment and most of it are interlinked with one another.
- The market for heating equipment in United States has remained to gain a high traction comparing to market in other countries, owing to the extreme cold weather conditions that prevail across most parts of the country throughout a year.
- The demand for HVAC equipment is majorly attributed to the growth in construction of new residential buildings and refurbishments of existing houses. In recent years between 2015-2019, application of HVAC systems in residential constructions held a major share compared to sales volumes in other end use applications.
U.S. HVAC Market by Equipment
- Air Conditioning
- Heat Exchangers
- Air Handling Units
- Air Filters
- Humidifiers & Dehumidifiers
- Fan Coil Units
- Heat Pump
- Boiler Unit
U.S. HVAC Market by Application
- Office Spaces
- Airports & Public Spaces
- Healthcare Facilities
- Industrial & Others
U.S. HVAC Market – Geography
The south region market for HVAC systems can be majorly segmented in two subsegment regions, such as south east and south west region. The southern region is expected lead the growth in market owing to the increase in number of construction activities across majority of states. Further, the demand for high energy-efficiency and sustainable technology in residential buildings are expected to propel the demand for HVAC systems. The HVAC market is expected to grow at a CAGR of over 4% during the forecast period.
U.S. HVAC Market by Geography
- Lennox International
- Mitsubishi Electric
- Johnson Controls
- Ingersoll Rand
Other Prominent Vendors
- Rheem Manufacturing
- Nortek Air Solutions
- Fujitsu America Inc.
- Dunham Bush
- Backer Springfield
- Soler & Palau (S&P)
- Alfa Laval
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