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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 $33.3 billion by 2030, and it is forecast to grow at a CAGR of 3.9% from 2024 to 2030. The major drivers for market growth are higher rate of building renovation and federal tax credits offered in the US to make existing facilities energy efficient and to control greenhouse gas emissions.Emerging Trends in the US HVAC Equipment Market
Emerging trends, which have a direct impact on the dynamics of the industry, include green HVAC systems, nanotechnology in air conditioning systems, and use of solar power for heating and cooling in US HVAC equipment market.A total of 56 figures / charts and 15 tables are provided in this 106-page report to help in your business decisions.
US HVAC Equipment Market by Segment
In this market, commercial is the largest end use market, whereas central AC is largest market by product type.The study includes trends and forecast for the US HVAC equipment market by product and end use as follows:
US HVAC Equipment Market By Product[$B shipment analysis from 2018 to 2030]:
- Furnace
- Heat Pump
- Central AC
- Room AC
- Others
US HVAC Equipment Market By End Use[$B shipment analysis from 2018 to 2030]:
- Residential
- Commercial
- Office
- Retail
- Hospitality
- Education
- Healthcare
- Others
List ofUS HVAC EquipmentCompanies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies US HVAC equipment companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the US HVAC equipment companies profiled in this report includes.- Lennox International Inc.
- Nortek Inc.
- United Technologies Corporation
- Emerson Electric
- LSB Industries, Inc
US HVAC EquipmentMarket Insights
- The publisher forecasts that commercial will remain the largest segment over the forecast period due to increasing commercial construction activity and the demand for heat pumps, which expected to surge in low penetrated markets.
- Within the US HVAC equipment market, furnace, heat pump, central AC, and room AC are the major products. Central AC will remain the largest segment over the forecast period.
Features of theUS HVAC EquipmentMarket
- Market Size Estimates: US HVAC equipment market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) 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 equipmentmarket size?Answer:The US HVAC equipment market is expected to reach an estimated $33.3 billion by 2030.
Q2. What is the growth forecast forUS HVAC equipmentmarket?
Answer:The US HVAC equipment market is expected to grow at a CAGR of 3.9% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of theUS HVAC equipmentmarket?
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 forUS HVAC equipment?
Answer:Commercial and residential are the major end use of US HVAC equipment.
Q5. What are the emerging trends inUS 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 keyUS 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
Answer: The publisherforecasts that cental AC will remain the largest product segment over the forecast period.
Q8. Do we receive customization in this report?
Answer:Yes, The publisher provides 10% Customization Without any Additional Cost.
This report answers the 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?
Table of Contents
1. Executive Summary
2. US HVAC Equipment Market Background and Classifications
3. Market Trend and Forecast Analysis
4. Competitor Analysis
5. Growth Opportunity & Strategic Analysis
6. Company Profiles of Leading Players
Companies Mentioned
- Lennox International
- Nortek
- Johnson Control
- United Technologies Corporation
- Emerson Electric
- LSB Industries
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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