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US HVAC Equipment Market: Trends, Opportunities and Competitive Analysis

July 2022 | 106 pages | ID: U1E207C5341BEN
Lucintel

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US HVAC Equipment Market Trends and Forecast

The future of the US HVAC equipment market looks good with opportunities in commercial and residential sectors. The US HVAC equipment market is expected to reach an estimated $23.1 billion by 2027, and it is forecast to grow at a CAGR of 3.4% from 2022 to 2027. The major drivers for market growth are higher rate of building renovation and federal tax credits offered in the US to make existing facilities energy efficient and to control greenhouse gas emissions.

Emerging Trends in the US HVAC Equipment Market

Emerging trends, which have a direct impact on the dynamics of the industry, include green HVAC systems, nanotechnology in air conditioning systems, and use of solar power for heating and cooling in US HVAC equipment market.

A total of 56 figures / charts and 15 tables are provided in this 106-page report to help in your business decisions. A sample figure with some insights is shown below. To learn the scope of, benefits, companies researched and other details of US HVAC equipment market in the construction industry report download the report brochure. Growth in various segments of the US HVAC equipment market are given below:

US HVAC Equipment Market by Segment

In this market, commercial is the largest end use market, whereas central AC is largest market by product type.

The study includes trends and forecast for the US HVAC equipment market by product and end use as follows:

US HVAC Equipment Market By Product [$B shipment analysis from 2016 to 2027]:
  • Furnace
  • Heat Pump
  • Central AC
  • Room AC
  • Others
US HVAC Equipment Market By End Use [$B shipment analysis from 2016 to 2027]:
  • Residential
  • Commercial
o Office

o Retail

o Hospitality

o Education

o Healthcare

o Others

List of US HVAC Equipment Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies US HVAC equipment companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the US HVAC equipment companies profiled in this report includes.
  • Lennox International Inc.
  • Nortek Inc.
  • United Technologies Corporation
  • Emerson Electric
  • LSB Industries, Inc
US HVAC Equipment Market Insights
  • Lucintel forecasts that commercial will remain the largest segment over the forecast period due to increasing commercial construction activity and the demand for heat pumps, which expected to surge in low penetrated markets.
  • Within the US HVAC equipment market, furnace, heat pump, central AC, and room AC are the major products. Central AC will remain the largest segment over the forecast period.
Features of the US HVAC Equipment Market
  • Market Size Estimates: US HVAC equipment market size estimation in terms of value ($B).
  • Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments.
  • Segmentation Analysis: US HVAC equipment market size by various segments, such as product, and end use.
  • Growth Opportunities: Analysis on growth opportunities in different product, and end use for US HVAC equipment market.
  • Strategic Analysis: This includes M&A and competitive landscape for the US HVAC equipment.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ

Q1. What is the US HVAC equipment market size?

Answer: The US HVAC equipment market is expected to reach an estimated $23.1 billion by 2027.

Q2. What is the growth forecast for US HVAC equipment market?

Answer: The US HVAC equipment market is expected to grow at a CAGR of 3.4% from 2022 to 2027.

Q3. What are the major drivers influencing the growth of the US HVAC equipment market?

Answer: The major drivers for this market are higher rate of building renovation and federal tax credits offered in the US to make existing facilities energy-efficient and to control greenhouse gas emissions.

Q4. What are the major applications or end use industries for US HVAC equipment?

Answer: Commercial and residential are the major end use of US HVAC equipment.

Q5. What are the emerging trends in US HVAC equipment market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include include green HVAC systems, nanotechnology in air conditioning systems, and use of solar power for heating and cooling in US HVAC equipment market..

Q6. Who are the key US HVAC equipment companies?

Answer: Some of the key US HVAC equipment companies are as follows:
  • Lennox International Inc.
  • Nortek Inc.
  • United Technologies Corporation
  • Emerson Electric
  • LSB Industries, Inc
Q7.Which US HVAC equipment product segment will be the largest in future?

Answer: Lucintel forecasts that cental AC will remain the largest product segment over the forecast period.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising, high growth opportunities for the US HVAC equipment market by product (furnace, heat pump, central AC, room AC, and others) and by end use (residential and commercial (office, retail, hospitality, education, healthcare, and others))?

Q.2 Which segments will grow at a faster pace and why?

Q.3 What are the key factors affecting market dynamics? What are the drivers and challenges of the US HVAC equipment market?

Q.4 What are the business risks and threats to the US HVAC equipment market?

Q.5 What are emerging trends in this US HVAC equipment market and the reasons behind them?

Q.6 What are some changing demands of customers in the US HVAC equipment market?

Q.7 What are the new developments in the US HVAC equipment market? Which companies are leading these developments?

Q.8 Who are the major players in the US HVAC equipment market? What strategic initiatives are being implemented by key players for business growth?

Q.9 What are some of the competitive products and processes in the US HVAC equipment market, and how big of a threat do they pose for loss of market share via material or product substitution?

Q.10 What M&A activities did take place in the last five years in the US HVAC equipment market?

For any questions related to the US HVAC equipment market or related to US HVAC equipment market share, US HVAC equipment market analysis, and US HVAC equipment market size, write to Lucintel analysts at [email protected] We will be glad to get back to you soon.
Table of Contents

1. EXECUTIVE SUMMARY

2. US HVAC EQUIPMENT MARKET BACKGROUND AND CLASSIFICATIONS

2.1: Introduction
  2.1.1: Industry Classification
  2.1.2: Markets Served
  2.1.3: Supply Chain

3. MARKET TREND AND FORECAST ANALYSIS

3.1: Market Analysis 2021
  3.1.1: US HVAC Equipment Market by Value
  3.1.2: US HVAC Equipment Market by Value
  3.1.3: Macroeconomic Trend
  3.1.4: Market Drivers and Challenges
3.2: Market Forecast 2022–2027
  3.2.1: Macroeconomic Forecast

4. COMPETITOR ANALYSIS

4.1: Product Portfolio Analysis
4.2: Market Share Analysis
4.3: Porter’s Five Forces Analysis

5. GROWTH OPPORTUNITY & STRATEGIC ANALYSIS

5.1: Growth Opportunities Analysis
5.2: Emerging Trends in US HVAC Equipment Market
5.3: Strategic Analysis
  5.3.1: New Product Development
5.4: Innovations in US HVAC Equipment Market
5.5: Mergers and Acquisitions in US HVAC Equipment Market

6. COMPANY PROFILES OF LEADING PLAYERS

6.1: Lennox International
6.2: Nortek
6.3: Johnson Control
6.4: United Technologies Corporation
6.5: Emerson Electric
6.6: LSB Industries


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