The US HVAC equipment market is expected to reach an estimated $17.5 billion by 2022 and it is forecast to grow at a CAGR of 3.4% from 2017 to 2022.
The future of the US HVAC (heating, ventilation and air conditioning) equipment market looks good with opportunities in the residential and commercial construction industry. The major drivers of growth are higher rate of building renovation and federal tax credits offered in the US to make existing facilities energy efficient and to control greenhouse gas emissions.
Emerging trends, which have a direct impact on the dynamics of the US hvac equipment industry, include the increasing usage of green HVAC, increasing usage of air purification technology, and increasing usage of smart thermostat.
US HVAC equipment companies profiled in this market report include Lennox, Johnson Controls Inc., Daikin Industries, Ingersoll Rand Plc, and UTC (United Technology and Corporation) are the major manufacturers of the HVAC equipment in the US.
On the basis of the comprehensive research, the author forecasts that central AC segment is expected to show above average growth during the forecast period due to increasing building renovation activities and higher demand for energy efficient HVAC equipment.
Within the US HVAC equipment market, residential is expected to remain the largest segment during the forecast period. Increasing housing starts and increasing penetration of air conditioners are the major driving force that will spur growth for this segment over the forecast period.
The study includes US HVAC equipment market size and forecast for the US hvac equipment market through 2022 segmented by product type, and end use as follows:
US HVAC equipment market by Product Type [Volume (M units) and Value ($ million) from 2011 to 2022]:
- Heat Pump
- Central AC
- Room AC
US HVAC equipment market by End Use [Volume (M units) and Value ($ million) from 2011 to 2022]: