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North American Heating, Ventilation, and Air Conditioning Market Report 2021: Market was $24.09 Billion in 2020 - Growth Opportunity Forecast to 2027

·4-min read

Dublin, Aug. 17, 2021 (GLOBE NEWSWIRE) -- The "North American Heating, Ventilation, and Air Conditioning Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.

The North American HVAC systems market was $24.09 billion in 2020 and is forecast to record a 6.3% CAGR over the next seven years to 2027.

The COVID-19 pandemic impact on the North American HVAC market was relatively muted than expected. While the market was forecast to slump by 6% in 2020, the post-Q2 2020 rebound helped HVAC manufacturers get their business back on track.

Amid the government change in the United States and the adoption of favorable climate change regulations and protocols, the market is expected to leverage the need for better indoor air quality and attaining net-zero energy targets.

The demand for air conditioning equipment in the southern region of the United States and parts of Canada, which experience heat waves every year, will propel cooling equipment sales. Leading manufacturers' focus on megatrends such as digitization and urbanization, increasing disposable incomes, and climate change will lead to technologically advanced solutions that cater to different customer segments.

The competitive success factors in the region include brand reputation, product quality and cost, knowledge support lent by installers or building managers, and ease of installation and use. The dwindling number of qualified HVAC personal is a cause for concern in the HVAC equipment market. There are also insufficient certified professionals on new technologies emerging in the HVAC market. Hesitancy remains in the commercial buildings replacement market as owners or facility managers prefer a like-to-like replacement rather than upgrading their systems.

The publisher divided the market by product type into heating equipment (e.g., heat pumps, boilers, furnaces, unitary heaters), ventilation equipment (e.g., ventilation fans, air handling and fan coil units, humidifiers/dehumidifiers, air cleaners), and cooling equipment (e.g., ducted split/packaged unit, split units, room ACs, chillers, variable refrigerant flow). This study also covers HVAC controls and sensors, including networked/communicating devices for HVAC controls and temperature, humidity, occupancy, and CO2 level sensors.

We split the vertical market into three: Residential; industrial, including warehouses, factories, and manufacturing plants; and commercial, including offices, malls, schools, universities/colleges, healthcare, hospitality, data centers, transportation, and government buildings.

Research Highlights

  • Current and future market growth rates

  • Market segmentation by product type and vertical

  • HVAC systems' future growth potential

  • Major drivers and trends influencing the market

  • Leading market participants in the region and comparative analysis

  • Current distribution structure and expected future changes

Key Topics Covered:

1. Strategic Imperatives

  • Why Is It Increasingly Difficult to Grow?

  • The Strategic Imperative

  • The Impact of the Top Three Strategic Imperatives on the Heating, Ventilation, and Air Conditioning (HVAC) Market

  • Growth Opportunities Fuel the Growth Pipeline Engine

2. Executive Dashboard

3. Growth Opportunity Analysis

  • Scope of Analysis

  • Market Segmentation by Equipment Type

  • Market Segmentation by Vertical

  • Key Competitors

  • Key Growth Metrics

  • Distribution Channels

  • Distribution Channel Analysis

  • Growth Drivers

  • Growth Restraints

  • Mega Trends Analysis

  • PESTLE* Analysis

  • Forecast Assumptions

  • Revenue Forecast

  • Revenue Forecast Analysis

  • HVAC Demand by Region - West and Midwest United States

  • HVAC Demand by Region - South and Northeast United States

  • Unit Shipment by Equipment Type and Size

  • Pricing Trends and Forecast Analysis

  • Communication Protocols for HVAC Controls

  • Competitive Environment

  • Competitive Success Factors

  • Revenue Share

  • Revenue Share Analysis

4. Growth Opportunity Analysis, HVAC Equipment

  • Key Growth Metrics

  • Revenue Forecast

  • Revenue Forecast Analysis

  • Revenue Forecast by Equipment Type

  • Revenue Forecast Analysis by Equipment Type

  • Revenue Forecast by Vertical

  • Revenue Forecast Analysis by Vertical

  • Revenue Forecast by Product

  • Revenue Forecast Analysis by Product

5. Growth Opportunity Analysis, HVAC Controls and Sensors

  • Key Growth Metrics

  • Revenue Forecast

  • Revenue Forecast Analysis

  • Revenue Forecast by Product

  • Revenue Forecast Analysis by Product

  • Revenue Forecast by Vertical

  • Revenue Forecast Analysis by Vertical

6. Growth Opportunity Universe

  • Growth Opportunity 1: Sustainable HVAC Solutions for First-Mover Advantage

  • Growth Opportunity 2: Optimizing HVAC Equipment for Demand Response (DR) Programs

  • Growth Opportunity 3: HVACaaS for Service Innovation

7. Next Steps

For more information about this report visit https://www.researchandmarkets.com/r/6unk7s

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


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