North America HVAC Equipment Market Is Booming Across the Globe | Johnson Controls International PLC, Daikin Industries Ltd, Lennox International Inc

The North America HVAC Equipment  market report provides information regarding market size, share, trends, growth, cost structure, global market competition landscape, market drivers, challenges and opportunity, capacity, revenue and forecast 2028. 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 an exhaustive quantitative analysis of the North America HVAC Equipment industry and provides data for making strategies to increase market growth and effectiveness.

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 (2022 - 2027).

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Markets Segmentation:

Top leading Companies Profiled in North America HVAC Equipment Market Report are Ê- 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.)

News and Updates

The North American HVAC equipment market is highly competitive and consists of several major players. The major players with a prominent share in the market focus on expanding their customer base. Moreover, an increasing number of companies have started offering HVAC systems with higher energy efficiency, green technology, and compatibility with smart devices. Some of the key developments in the market are :

- In March 2019 - Emerson Electric Co. partnered with Engineering USA to create living Digital Twins for EmersonÕs HVAC and sensor manufacturing divisions in North America. The collaboration was aimed at improving EmersonÕs overall productivity and profitability, as well as order promising and better prediction of module completion dates. Engineering USAÕs team leveraged Siemens Tecnomatix Plant Simulation to design and build a complete plant simulation model for EmersonÕs new HVAC division line.

Market Overview

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.

- 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).

Regional Analysis:

Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, Malaysia, and Others), North America (United States, Canada, and Mexico), Central & South America (Brazil, and Rest of South America), Europe (Germany, France, UK, Italy, Russia, and Rest of Europe), Middle East & Africa (GCC Countries, Turkey, Egypt, South Africa and Other)

United States to Hold Major Share

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 2022, 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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Key Takeaways from North America HVAC Equipment Report

─Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals

─Understand the different dynamics influencing the North America HVAC Equipment market - key driving factors, challenges and hidden opportunities.

─Get in-depth insights on your competitor performance - North America HVAC Equipment market shares, strategies, financial benchmarking, product benchmarking, SWOT and more

─Analyze the sales and distribution channels across key geographies to improve top-line revenues.

─Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.

─Get a quick outlook on the market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.

─Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the North America HVAC Equipment

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In conclusion, the North America HVAC Equipment market report presents the descriptive analysis of the parent market supported elite players, present, past and artistic movement information which is able to function as a profitable guide for all the North America HVAC Equipment Industry business competitors. Our expert research analyst's team has been trained to provide in-depth market research reports from every individual sector which will be helpful to understand the industry data in the most precise way.

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