As on date of publishing, this report will capture the impact assessment of COVID-19 on this market and the same will be considered in our market forecast model. Clients purchasing this report between April and June 2020 will be getting a ‘free’ updated market data excel sheet between July and September 2020 accounting for the impact of COVID-19 on the market in the current year 2020 and forecast.
United States HVAC market is projected to grow at a CAGR of over 5%, in value terms, during 2020-2025. 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 buildings.
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, Electrolux AB, Lennox International Inc., Haier America lnc. etc.
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Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
- To analyze and forecast market size of the United States HVAC market, in terms of value as well as volume.
- To define, classify and forecast the United States HVAC market on the basis of product type, by end use sector, by companies.
- To scrutinize the detailed market segmentation and forecast the market size, in terms of value, on the basis of end use sector segmenting United Stated HVAC market into 6 end use sectors, namely, Residential; Commercial Real Estate; Institutional; Marine & Offshore; Oil & Gas; Power and Others.
- To identify tailwinds and headwinds for the United States HVAC market.
- To examine competitive developments such as expansions, new product launches, supply contracts, and mergers & acquisitions in the United States HVAC market.
- To evaluate competitor pricing, average market selling prices and trends in the United States HVAC market.
- To strategically profile the leading players, which are involved in the supply of HVAC in market.
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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.
TechSci 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:
- United States HVAC Manufacturers
- United States HVAC suppliers
- Research organizations and consulting companies
- Associations, organizations, associations and alliances related to HVAC
- Government bodies such as regulating authorities and policy makers
- Industry associations
- Market research and consulting firms
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.
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:
- US HVAC Market, by Product Type:
- United States HVAC Market
- Direct Expansion Systems
- Central Air Conditioning Systems
- United States HVAC Market
- US HVAC Market, by End Use Sector:
- Commercial Real Estate
- Marine & Offshore
- Oil & Gas
- US HVAC Market, by Region:
About Us :
TechSci Research is a research based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries.
TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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