North America HVAC Equipment Market 2020 After COVID-19 Developments Analysis of Best Key Players – Daikin Industries Ltd, Lennox International Inc., Electrolux AB

North America HVAC Equipment Market - Growth, Trends, and Forecasts (2020 - 2025)

The North America HVAC Equipment Market research report 2020 provides a basic overview of the industry including definitions, classifications, applications, and industry chain structure. The North America HVAC Equipment market report provides information regarding market size, share, trends, growth, cost structure, North America HVAC Equipment market competition landscape, market drivers, challenges and opportunity, capacity, revenue, and forecast 2025.

The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and present times, supervisory scenario & technological growth. This report also includes the overall and comprehensive study of the North America HVAC Equipment market with all its aspects influencing the growth of the market. This report is exhaustive quantitative analyses of the North America HVAC Equipment industry and provides data for making strategies to increase market growth and effectiveness.

Scope of the report:

The report evaluates the growth rate and the Market value based on Market dynamics, growth inducing factors. The complete knowledge is based on the latest industry news, opportunities, and trends. The report contains a comprehensive Market analysis and vendor landscape in addition to a SWOT analysis of the key vendors.

The North American HVAC equipment market was valued at 21.39 billion in 2019, and it is expected to register a CAGR of 4.6% over the forecast period 2020 - 2025.

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global North America HVAC Equipment Market: Johnson Controls International PLC, Daikin Industries Ltd, Lennox International Inc., Electrolux AB, Emerson Electric Company, Carrier Corporation, Rheem Manufacturing Company Inc., Uponor Corp., Ingersoll Rand Inc. (Trane Inc.), and others.

Key Market Trends

Heat Pumps to Drive Market Growth

- Heat pumps are expected to hold the prominent share of the market. Heat pumps have grown steadily in the North American region owing to various reasons, such as climatic conditions, the convenience offered the equipment, government tax credit benefits, regulations, etc. For instance, the US shipments steadily grew till 2018, and the boost was partly due to a 30% federal tax credit, which customers can avail in the United States for GSHPs placed in service after 2008 and lasting through December 31, 2016.

- Heat pumps are more likely to lead the way in the immediate future as the heat source replacements for fossil-fueled radiant systems in the residential market. Geothermal heat pumps are a well-tried and tested technology that works exceptionally well if installed correctly. Still, the costs of drilled ground loop wells (depending on geographical location) has kept the adoption of this technology limited to high-end homes.

- Air to water heat pumps (ATWHP), on the other hand, has come a long way in recent years and can offer a much more cost-effective alternative for many structures, big or small, residential or commercial. Moreover, thermostats gain momentum with the increase in heat pumps as thermostats turn the heat pump on or off based on input criteria, such as time, current temperature, or other smart home features (geofencing, for example).

- Furthermore, the heat pumps have been regulated by the governments in the region for their energy efficiency. For example, beginning in 2023, all new residential air-source heat pump systems sold in the United States may be required to meet new minimum energy efficiency standards.

- The new standards effective in 2023 are required a seasonal energy efficiency ratio (SEER); a measure of a system’s cooling performance of no less than 14 SEER for residential systems in the northern part of the United States and 15 SEER in the southern part of the United States, where cooling loads are a larger share of home energy use. Owing to this, DOE calculated that households using central air conditioning or heat pump would collectively save USD 2.5 billion to USD 12.2 billion on energy bills during the 30 years following the implementation of standards.

United States to Hold Major Share

- To ensure a sustainable future, the United States Department of Energy (DOE) is heavily investing in improving energy efficiency standards throughout the country. The DOE's mission is to ensure America's security and prosperity by addressing its environmental, energy, and nuclear challenges through transformative science and technology solutions.

- Furthermore, green HVAC systems are being developed to improve energy efficiency and bring down costs. For instance, Ice Energy, based out of Glendale, California, released an ice-powered air-conditioning unit called the Ice Bear, to cool buildings and, in most cases, reduce a building's total net energy consumption.

- According to the Bureau of Labor, the HVAC industry will offer 13% more jobs by 2028, a much higher average employment growth than most industries. Moreover, players are collaborating to increase their presence further. For instance, In July 2020, Motili announced its partnership with The Storage Business Owners Alliance (SBOA) for bringing on-demand HVAC equipment. Motili offers nationwide coverage, with over 2,000 qualified HVAC contractors and 1,000 distribution centers located across the US.

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Influence of the North America HVAC Equipment market report

- Comprehensive assessment of all opportunities and risks in the North America HVAC Equipment market.

- North America HVAC Equipment market recent innovations and major events.

- A Detailed study of business strategies for the growth of the North America HVAC Equipment market-leading players.

- Conclusive study about the growth plot of the North America HVAC Equipment market for forthcoming years.

- In-depth understanding of North America HVAC Equipment market-particular drivers, constraints, and major micro markets.

- Favorable impression inside vital technological and market latest trends striking the market report.

What are the market factors that are explained in the report?

- Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

- Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

- Analytical Tools: The North America HVAC Equipment Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

Find out:

North America HVAC Equipment Market: Where are the opportunities? What does the future look like for the North America HVAC Equipment Market? What will be the market size in the next 5 years?
Market trends: What is driving the market? Where are the key players? What are their strategies? What is holding the market behind? Where is the industry heading for in the short and long-term? How are new developments expected to change the market?
Technology: How are RO and new brine concentration technologies shaping the market? What are the new revenue channels which companies can explore for growth?

If you have any questions about any of our “North America HVAC Equipment Market Report” or would like to schedule a personalized free demo of the North America HVAC Equipment market report, please do not hesitate to contact me at irfan@marketinsightsreports.com.

Note - All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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