Press release
North America HVAC Equipment Market 2022 Competitive Insights - Johnson Controls International PLC, Daikin Industries Ltd, Lennox International Inc., Electrolux AB
The North America HVAC Equipment Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.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 (2021 - 2026).
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Top Leading Companies of North America HVAC Equipment Market are 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.
Industry News and Updates
In March 2019 - Emerson Electric Co. partnered with Engineering USA to create living Digital Twins for Emerson's HVAC and sensor manufacturing divisions in North America. The collaboration was aimed at improving Emerson's overall productivity and profitability, as well as order promising and better prediction of module completion dates. Engineering USA's team leveraged Siemens Tecnomatix Plant Simulation to design and build a complete plant simulation model for Emerson's new HVAC division line.
Key Market Trends
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.
Regional Outlook of North America HVAC Equipment Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.
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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.
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.
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.
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.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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