DUBLIN, 25 November 2021 / PRNewswire / – “US HVAC Systems Markets, 2021-2028” report has been added to ResearchAndMarkets.com offer.
The size of the US HVAC systems market is expected to reach $ 23.78 billion by 2028 and is expected to increase at a CAGR of 6.0% from 2021 to 2028
Changing climatic conditions are the main factor driving the demand for HVAC (heating, ventilation and air conditioning) equipment in the country. Moreover, the adoption of technologically advanced systems offering intelligent connectivity and remote operation is expected to be an important factor influencing the growth of the market.
Strict government regulations aimed at reducing energy consumption and carbon emissions from HVAC systems are expected to play an imperative role in the growth of the market. To help consumers make an informed decision, the US government introduced the Energy Star program which provides energy ratings showing efficiency performance and savings for each product. Such programs, coupled with active efforts by HVAC suppliers to provide energy efficient products, are expected to fuel the growth of energy efficient equipment during the forecast period.
The HVAC systems market in the United States is characterized by intense competition, with several major players dominating the market. Companies adopt different strategies to maintain their grip on the market.
For example, Carrier Corporation, a popular name among consumers, completed its separation from United Technologies Corporation (UTC) in april 2020. Operating independently will help Carrier Corporation improve its product offerings and geographic presence, thereby enhancing its market presence.
Despite all the advantages and efforts mentioned above, the high installation and maintenance costs, coupled with the complexity of HVAC installations modernization, are expected to be a challenge for the growth of the market. However, companies offer low cost repair and maintenance services to attract customers and promote HVAC sales across the country.
In addition, government regulations to eliminate the use of refrigerants such as R-22 or HCFC-22 in cooling systems are expected to boost sales of newer systems over the next seven years.
Highlights of the United States HVAC Systems Market Report
- Cooling systems held the largest share of revenue of over 55% in 2020. The large share of revenue is attributable to the fact that the United States is one of the largest consumers of air conditioning systems in the world.
- Due to the increase in office space, hospitals, hotels and other commercial constructions, the commercial segment is expected to register the fastest growth of 6.6% from 2021 to 2028
- The large population is the main factor contributing to the large income share and high CAGR of the Western region
- Companies operating in the market invest heavily in research and development to offer a technologically advanced product with the aim of beating market competition through product differentiation.
Main topics covered:
Chapter 1. Methodology and scope
1.1. Segmentation & Scope Methodology
1.2. Acquisition of information
1.3. Analysis of information
1.4. Market formulation and data visualization
1.5. Data validation and publication
Chapter 2. Executive summary
2.1. U.S. HVAC Systems Market – Industry Overview and Key Buying Criteria, 2017 – 2028
Chapter 3. US Air Conditioning Systems Market Variables, Trends and Scope
3.1. Market size and growth outlook, 2017 – 2028
3.2. Industry value chain analysis
3.3. Market dynamics
3.3.1. Market driver analysis
3.3.2. Analysis of market restrictions / challenges
3.3.3. Analysis of market opportunities
3.4. Mapping of penetration and growth prospects (priority key opportunities)
3.5. Business environment analysis tools
3.5.1. Industry Analysis – Porter’s Five Forces Analysis
3.5.2. PEST analysis
Chapter 4. Product Outlook of the HVAC Systems Market in the United States
4.1. United States HVAC Systems Market Share by Product, 2020 and 2028 (USD Billion)
Chapter 5. Product Outlook for the United States HVAC Systems Market
5.1. United States HVAC Systems Market Share by Product, 2020 and 2028 (USD Billion)
Chapter 6. United States HVAC Systems Market: Regional Outlook
6.1. HVAC Systems Market Share by Region, 2020 and 2028 (USD Billion)
6.3. South East
6.5. South West
6.6. Where is
Chapter 7. Competitive landscape
7.1. Company presentation
7.2. Financial performance
7.3. Comparative analysis of products
7.4. Recent developments
- Transport company
- Daikin Industries, Ltd.
- Emerson Electric Co.
- Haier Group
- Johnson Controls International plc
- LG Electronics
- Lennox International, Inc.
- Mitsubishi Electric United States Inc.
- Rheem Manufacturing Company
- Trane Technologies
For more information on this report, visit https://www.researchandmarkets.com/r/uus03a
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SOURCE Research and Markets