Adoption Smart Connectivity and Remote Operation are expected to drive market growth

DUBLIN, November 25, 2021 / PRNewswire / – The report “US HVAC Systems Markets, 2021-2028” has been added to ResearchAndMarkets.com’s offer.

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The US market size for HVAC systems is expected to reach USD 23.78 billion in 2028 and is expected to expand by 6.0% CAGR from 2021 to 2028

Changing climatic conditions are the primary factor driving the demand for HVAC equipment (heating, ventilation and air conditioning) in the country. In addition, the adoption of technologically advanced systems offering smart connectivity and remote control is expected to be a significant factor affecting market growth.

Strict government regulations aimed at reducing energy consumption and carbon emissions from HVAC systems are expected to play a crucial role in market growth. To help consumers make an informed decision, the U.S. government has introduced the Energy Star program, which provides energy ratings that indicate the efficiency and savings of each product. Such programs, combined with an active effort by HVAC providers to deliver energy efficient products, are expected to boost the growth of energy efficient equipment during the forecast period.

The market for HVAC systems in the USA is characterized by intense competition, with several major players dominating the market. Companies use different strategies to maintain their grip on the market.

For example, Carrier Corporation, a popular consumer name, ended its separation from United Technologies Corporation (UTC) in April 2020. Operating independently will help Carrier Corporation improve its product range and geographic presence, thereby improving its market presence.

Despite all the above benefits and efforts, high installation and maintenance costs, combined with the complexity of retrofitting HVAC installations, are expected to pose a challenge to market growth. However, companies offer discounted repair and maintenance services to attract customers and promote HVAC sales throughout the country.

In addition, government regulations to eliminate the use of refrigerants such as R-22 or HCFC-22 in refrigeration systems are expected to increase sales of newer systems over the next seven years.

Highlights from the US HVAC Systems Market Report

  • Refrigeration systems had the largest turnover share of more than 55% in 2020. The large turnover share is due to the USA being one of the leading consumers of air conditioners in the world

  • Due to the increasing office space, hospitals, hotels and other commercial constructions, the commercial segment is expected to record the fastest growth of 6.6% from 2021 to 2028

  • The large population is the primary factor contributing to the large share of income and the high CAGR in the western region

  • Companies operating in the market invest massively in research and development to offer a technologically advanced product in an attempt to beat the competition in the market through product differentiation

Key topics covered:

Chapter 1. Method and scope
1.1. Methodology Segmentation and scope
1.2. Collection of information
1.3. Information analysis
1.4. Market formulation and data visualization
1.5. Data validation and publishing

Chapter 2. Summary
2.1. US Market for HVAC Systems – Industry Snapshot and Key Acquisition Criteria, 2017 – 2028

Chapter 3. Market variables for US HVAC systems, trends and scope
3.1. Market size and growth prospects, 2017 – 2028
3.2. Industry value chain analysis
3.3. Market dynamics
3.3.1. Market driver analysis
3.3.2. Market Restriction / Challenge Analysis
3.3.3. Analysis of market opportunities
3.4. Mapping penetration and growth prospects (key opportunities prioritized)
3.5. Business environment analysis tools
3.5.1. Industry Analysis – Porter’s Five Forces Analysis
3.5.2. PEST Analysis

Chapter 4. US HVAC Systems Market Product Outlook
4.1. Market share for US HVAC systems by product, 2020 and 2028 (USD billion)
4.2. Warm up
4.3. Ventilation
4.4. Cooling

Chapter 5. US HVAC Systems Market Product Outlook
5.1. Market share for US HVAC systems by product, 2020 and 2028 (USD billion)
5.2. habitation
5.3. Commercial
5.4. Industrial

Chapter 6. US HVAC Systems Market: Regional Outlook
6.1. Market share of HVAC systems by region, 2020 and 2028 (USD billion)
6.2. Northeast
6.3. Southeast
6.4. Midwest
6.5. Southwest
6.6. west

Chapter 7. Competitive landscape
7.1. Company overview
7.2. Financial performance
7.3. Product benchmarking
7.4. Recent developments

  • Carrier Corporation

  • Daikin Industries, Ltd.

  • Emerson Electric Co.

  • Haier Group

  • Johnson Controls International plc

  • LG Electronics

  • Lennox International, Inc.

  • Mitsubishi Electric US Inc.

  • Rheem Manufacturing Company

  • Trane Technologies

For more information on this report, visit https://www.researchandmarkets.com/r/uus03a

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