North America HVAC Equipment Market Growth, Trends, COVID-19 Impact, and Forecasts Report 2021-2026 - ResearchAndMarkets.com

The "North America HVAC Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The North American HVAC equipment market was valued at USD 32.64 billion in 2020, and it is expected to reach USD 43.20 billion by 2026 at a CAGR of 4.7% over the forecast period

Heating, ventilation, and air conditioning (HVAC) systems are finding widespread adoption across the North American region, due to the multiple advantages offered by HVAC systems, most notably, the power-saving techniques.

Major factors driving the market studied include an increase in new households, rising average construction spending, rapid urbanization, and growth in disposable income across several major economies. The United States and Canada rank among the world's top 10 energy consumption countries in the world, with the United States ranking at second, only behind China.

Most of the American population has air conditioning. For instance, according to IEA, the United States and China account for over half of the world's stocks of air conditioners. Daikin is expected to widen the adoption of lower GWP refrigerant R32, by developing ducted and ductless residential, light-commercial, and applied air conditioning products, for the North American region. According to Daikin, the choice of R32 is consistent with its broad global acceptance.

Leading players in the market are investing significantly in M&A or R&D activities to gain a strong position. For instance, in January 2019, Huron Capital announced that its HVAC installations subsidiary, Pueblo Mechanical & Controls, acquired two additional businesses, namely, Newgaard Mechanical Inc. and CFM Mechanical LLC, to offer customized HVAC products and services.

Similarly, the Electric Power Research Institute (EPRI) received a USD 4.7 million grant from the California Strategic Growth Council to develop advanced residential HVAC systems with low global warming potential (GWP) refrigerants and conduct community studies to bring the technology to low-income and disadvantaged Californians.

With the outbreak of COVID-19, viral illness is wreaking havoc across North America and has claimed both lives and livelihood and has resulted in significant disadvantages for players operating in the HVAC equipment market. Although the World Health Organization (WHO) initially told that the virus could not be spread through aerosols, but WHO recently reversed its stance. The WHO guidelines now state that the airborne transmission of the coronavirus may be possible indoors, especially for people who spend extended periods in crowded, poorly ventilated rooms.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS

4.1 Market Overview

4.2 Industry Attractiveness - Porter's Five Forces Analysis

4.2.1 Threat of New Entrants

4.2.2 Bargaining Power of Buyers/Consumers

4.2.3 Bargaining Power of Suppliers

4.2.4 Threat of Substitute Products

4.2.5 Intensity of Competitive Rivalry

5 MARKET DYNAMICS

5.1 Market Drivers

5.1.1 Rise in Residential and Non- residential Users

5.2 Market Restraints

5.2.1 High Energy Consumption of HVAC Equipment

6 MARKET SEGMENTATION

6.1 By Equipment

6.1.1 Air Conditioning Equipment

6.1.2 Heating Equipment

6.1.3 Heat Pumps

6.1.4 Dehumidifiers and Humidifiers

6.2 By End User

6.2.1 Residential

6.2.2 Industrial

6.2.3 Commercial

7 COMPETITIVE LANDSCAPE

7.1 Company Profiles

7.1.1 Johnson Controls International PLC

7.1.2 Daikin Industries Ltd

7.1.3 Lennox International Inc.

7.1.4 Electrolux AB

7.1.5 Emerson Electric Company

7.1.6 Carrier Corporation

7.1.7 Rheem Manufacturing Company Inc.

7.1.8 Uponor Corp.

7.1.9 Ingersoll Rand Inc. (Trane Inc.)

8 INVESTMENT ANALYSIS

9 FUTURE OF THE MARKET

For more information about this report visit https://www.researchandmarkets.com/r/6x2opn

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