HVAC Equipment Market in North America to grow at a CAGR of 5.15% from 2021 to 2026, Driven by the changing climate conditions - Technavio

NEW YORK, March 29, 2023

NEW YORK, March 29, 2023 /PRNewswire/ -- The HVAC equipment market in North America is expected to grow by USD 10.22 billion from 2021 to 2026 at a CAGR of 5.15%. The HVAC equipment market in North America is segmented by product (air conditioning equipment, heating equipment, and ventilation equipment) and end-user (non-residential and residential). The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. A. O. Smith Corp., AAON Inc., AB Electrolux, Daikin Industries Ltd, Emerson Electric Co., Fujitsu Ltd., Gree Electric Appliances Inc. of Zhuhai, Haier Smart Home Co. Ltd., Hitachi Ltd., Ingersoll Rand Inc., Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., MIDEA Group Co. Ltd., Nortek Inc., Rheem Manufacturing Co., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Seeley International Pty Ltd., and Whirlpool Corp. are some of the major market participants. The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request a sample report.

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HVAC Equipment Market in North America 2022-2026: Segmentation

The market share growth in the air conditioning equipment segment will be significant for the market growth during the forecast period. The efficiency of air conditioning equipment, for instance, compressors and air handlers are required to meet a specific standard, which in the US is measured by the seasonal energy efficiency ratio (SEER). The operation of the air conditioning equipment depends on the characteristics of the building or home where the equipment is being used. Hence, such factors are expected to boost the growth of the market during the forecast period.

HVAC Equipment Market in North America 2022-2026: Geographic Analysis

A major share of the HVAC equipment market in North America is dominated by the US. The rising adoption of HVAC equipment, due to the growing need to improve the indoor air quality (IAQ) of residential buildings, is driving the growing demand for HVAC equipment in North America. Population growth and the high cost associated with energy consumption results in regulations by regulatory bodies, such as the Air Conditioning, Heating, and Refrigeration Institute (AHRI), American National Standards Institute (ANSI), and American Society of Heating, Refrigerating and Air-Conditioning Engineers Inc. (ASHRAE). These are the main factors for the growth of the market in the region.

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Vendor Offerings

Daikin Industries Ltd - The company offers HVAC equipment such as Outdoor Air Processing Unit, Heat Reclaim Ventilator, and Heat Reclaim Ventilator with DX Coil.
Fujitsu Ltd. - The company offers HVAC equipment such as Split systems, Multi Split systems, and Airstage VRF systems.
Haier Smart Home Co. Ltd. - The company offers various HVAC equipment such as FlexiCool Pro and UV Clean Pro.

HVAC Equipment Market in North America 2022-2026: Key Highlights

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will assist market growth during the next five years
Estimation of the HVAC equipment market size in North America and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the HVAC equipment market in North America
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of vendors

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HVAC Equipment Market Scope in North America
Report Coverage	Details
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 5.15%
Market growth 2022-2026	USD 10.22 billion
Market structure	Fragmented
YoY growth 2021-2022 (%)	3.11
Regional analysis	North America
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	A. O. Smith Corp., AAON Inc., AB Electrolux, Daikin Industries Ltd, Emerson Electric Co., Fujitsu Ltd., Gree Electric Appliances Inc. of Zhuhai, Haier Smart Home Co. Ltd., Hitachi Ltd., Ingersoll Rand Inc., Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., MIDEA Group Co. Ltd., Nortek Inc., Rheem Manufacturing Co., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Seeley International Pty Ltd., and Whirlpool Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table Of Contents :

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Country Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

Exhibit 14: Chart on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 15: Data Table on Regional - Market size and forecast 2021-2026 ($ million)
Exhibit 16: Chart on North America: Year-over-year growth 2021-2026 (%)
Exhibit 17: Data Table on Regional - Market size and forecast 2021-2026 ($ million)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 18: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers

Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers

Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants

Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes

Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry

Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition

Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Product

5.1 Market segments

Exhibit 25: Chart on Product - Market share 2021-2026 (%)
Exhibit 26: Data Table on Product - Market share 2021-2026 (%)

5.2 Comparison by Product

Exhibit 27: Chart on Comparison by Product
Exhibit 28: Data Table on Comparison by Product

5.3 Air conditioning equipment - Market size and forecast 2021-2026

Exhibit 29: Chart on Air conditioning equipment - Market size and forecast 2021-2026 ($ million)
Exhibit 30: Data Table on Air conditioning equipment - Market size and forecast 2021-2026 ($ million)
Exhibit 31: Chart on Air conditioning equipment - Year-over-year growth 2021-2026 (%)
Exhibit 32: Data Table on Air conditioning equipment - Year-over-year growth 2021-2026 (%)

5.4 Heating equipment - Market size and forecast 2021-2026

Exhibit 33: Chart on Heating equipment - Market size and forecast 2021-2026 ($ million)
Exhibit 34: Data Table on Heating equipment - Market size and forecast 2021-2026 ($ million)
Exhibit 35: Chart on Heating equipment - Year-over-year growth 2021-2026 (%)
Exhibit 36: Data Table on Heating equipment - Year-over-year growth 2021-2026 (%)

5.5 Ventilation equipment - Market size and forecast 2021-2026

Exhibit 37: Chart on Ventilation equipment - Market size and forecast 2021-2026 ($ million)
Exhibit 38: Data Table on Ventilation equipment - Market size and forecast 2021-2026 ($ million)
Exhibit 39: Chart on Ventilation equipment - Year-over-year growth 2021-2026 (%)
Exhibit 40: Data Table on Ventilation equipment - Year-over-year growth 2021-2026 (%)

5.6 Market opportunity by Product

Exhibit 41: Market opportunity by Product ($ million)

6 Market Segmentation by End-user

6.1 Market segments

Exhibit 42: Chart on End-user - Market share 2021-2026 (%)
Exhibit 43: Data Table on End-user - Market share 2021-2026 (%)

6.2 Comparison by End-user

Exhibit 44: Chart on Comparison by End-user
Exhibit 45: Data Table on Comparison by End-user

6.3 Non-residential - Market size and forecast 2021-2026

Exhibit 46: Chart on Non-residential - Market size and forecast 2021-2026 ($ million)
Exhibit 47: Data Table on Non-residential - Market size and forecast 2021-2026 ($ million)
Exhibit 48: Chart on Non-residential - Year-over-year growth 2021-2026 (%)
Exhibit 49: Data Table on Non-residential - Year-over-year growth 2021-2026 (%)

6.4 Residential - Market size and forecast 2021-2026

Exhibit 50: Chart on Residential - Market size and forecast 2021-2026 ($ million)
Exhibit 51: Data Table on Residential - Market size and forecast 2021-2026 ($ million)
Exhibit 52: Chart on Residential - Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on Residential - Year-over-year growth 2021-2026 (%)

6.5 Market opportunity by End-user

Exhibit 54: Market opportunity by End-user ($ million)

7 Customer Landscape

7.1 Customer landscape overview

Exhibit 55: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

8.1 Geographic segmentation

Exhibit 56: Chart on Market share by geography - 2021-2026 (%)
Exhibit 57: Data Table on Market share by geography - 2021-2026 (%)

8.2 Geographic comparison

Exhibit 58: Chart on Geographic comparison
Exhibit 59: Data Table on Geographic comparison

8.3 US - Market size and forecast 2021-2026

Exhibit 60: Chart on US - Market size and forecast 2021-2026 ($ million)
Exhibit 61: Data Table on US - Market size and forecast 2021-2026 ($ million)
Exhibit 62: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 63: Data Table on US - Year-over-year growth 2021-2026 (%)

8.4 Mexico - Market size and forecast 2021-2026

Exhibit 64: Chart on Mexico - Market size and forecast 2021-2026 ($ million)
Exhibit 65: Data Table on Mexico - Market size and forecast 2021-2026 ($ million)
Exhibit 66: Chart on Mexico - Year-over-year growth 2021-2026 (%)
Exhibit 67: Data Table on Mexico - Year-over-year growth 2021-2026 (%)

8.5 Canada - Market size and forecast 2021-2026

Exhibit 68: Chart on Canada - Market size and forecast 2021-2026 ($ million)
Exhibit 69: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
Exhibit 70: Chart on Canada - Year-over-year growth 2021-2026 (%)
Exhibit 71: Data Table on Canada - Year-over-year growth 2021-2026 (%)

8.6 Market opportunity by geography

Exhibit 72: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

9.1 Market drivers

9.2 Market challenges

9.3 Impact of drivers and challenges

Exhibit 73: Impact of drivers and challenges in 2021 and 2026

9.4 Market trends

10 Vendor Landscape

10.1 Overview

10.2 Vendor landscape

Exhibit 74: Overview on Criticality of inputs and Factors of differentiation

10.3 Landscape disruption

Exhibit 75: Overview on factors of disruption

10.4 Industry risks

Exhibit 76: Impact of key risks on business

11 Vendor Analysis

11.1 Vendors covered

Exhibit 77: Vendors covered

11.2 Market positioning of vendors

Exhibit 78: Matrix on vendor position and classification

11.3 Daikin Industries Ltd

Exhibit 79: Daikin Industries Ltd - Overview
Exhibit 80: Daikin Industries Ltd - Business segments
Exhibit 81: Daikin Industries Ltd - Key news
Exhibit 82: Daikin Industries Ltd - Key offerings
Exhibit 83: Daikin Industries Ltd - Segment focus

11.4 Fujitsu Ltd.

Exhibit 84: Fujitsu Ltd. - Overview
Exhibit 85: Fujitsu Ltd. - Business segments
Exhibit 86: Fujitsu Ltd. - Key offerings
Exhibit 87: Fujitsu Ltd. - Segment focus

11.5 Gree Electric Appliances Inc. of Zhuhai

Exhibit 88: Gree Electric Appliances Inc. of Zhuhai - Overview
Exhibit 89: Gree Electric Appliances Inc. of Zhuhai - Product / Service
Exhibit 90: Gree Electric Appliances Inc. of Zhuhai - Key offerings

11.6 Haier Smart Home Co. Ltd.

Exhibit 91: Haier Smart Home Co. Ltd. - Overview
Exhibit 92: Haier Smart Home Co. Ltd. - Business segments
Exhibit 93: Haier Smart Home Co. Ltd. - Key offerings
Exhibit 94: Haier Smart Home Co. Ltd. - Segment focus

11.7 Hitachi Ltd.

Exhibit 95: Hitachi Ltd. - Overview
Exhibit 96: Hitachi Ltd. - Business segments
Exhibit 97: Hitachi Ltd. - Key news
Exhibit 98: Hitachi Ltd. - Key offerings
Exhibit 99: Hitachi Ltd. - Segment focus

11.8 Johnson Controls International Plc

Exhibit 100: Johnson Controls International Plc - Overview
Exhibit 101: Johnson Controls International Plc - Business segments
Exhibit 102: Johnson Controls International Plc - Key news
Exhibit 103: Johnson Controls International Plc - Key offerings
Exhibit 104: Johnson Controls International Plc - Segment focus

11.9 LG Electronics Inc.

Exhibit 105: LG Electronics Inc. - Overview
Exhibit 106: LG Electronics Inc. - Business segments
Exhibit 107: LG Electronics Inc. - Key news
Exhibit 108: LG Electronics Inc. - Key offerings
Exhibit 109: LG Electronics Inc. - Segment focus

11.10 MIDEA Group Co. Ltd.

Exhibit 110: MIDEA Group Co. Ltd. - Overview
Exhibit 111: MIDEA Group Co. Ltd. - Business segments
Exhibit 112: MIDEA Group Co. Ltd. - Key offerings
Exhibit 113: MIDEA Group Co. Ltd. - Segment focus

11.11 Robert Bosch GmbH

Exhibit 114: Robert Bosch GmbH - Overview
Exhibit 115: Robert Bosch GmbH - Business segments
Exhibit 116: Robert Bosch GmbH - Key news
Exhibit 117: Robert Bosch GmbH - Key offerings
Exhibit 118: Robert Bosch GmbH - Segment focus

11.12 Samsung Electronics Co. Ltd.

Exhibit 119: Samsung Electronics Co. Ltd. - Overview
Exhibit 120: Samsung Electronics Co. Ltd. - Business segments
Exhibit 121: Samsung Electronics Co. Ltd. - Key news
Exhibit 122: Samsung Electronics Co. Ltd. - Key offerings
Exhibit 123: Samsung Electronics Co. Ltd. - Segment focus

12 Appendix

12.1 Scope of the report

12.2 Inclusions and exclusions checklist

Exhibit 124: Inclusions checklist
Exhibit 125: Exclusions checklist

12.3 Currency conversion rates for US$

Exhibit 126: Currency conversion rates for US$

12.4 Research methodology

Exhibit 127: Research methodology
Exhibit 128: Validation techniques employed for market sizing
Exhibit 129: Information sources

12.5 List of abbreviations

Exhibit 130: List of abbreviations

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