North America HVAC Market Growth Analysis Report - Market Size, Share, Forecast Trends and Outlook (2025-2034)
Description
The North America HVAC market attained a value of about USD 45.64 Billion in 2024 . The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 4.10% , to reach value of around USD 68.21 Billion by 2034 .
The United States to Lead the HVAC Market in North America
The United States has been dominating the HVAC market share in North America and is expected to continue its dominance over the forecast years. The United States has an active presence of the key players in the global HVAC market , which is providing impetus for the growth of the HVAC industry in the country.
The United States Department of Energy has been investing heavily to improve the energy efficiency standards in the nation for sustainable development. The Department of Energy has also set up a mission to tackle the environmental and energy challenges in the nation through advanced science and technology. These steps are expected to propel the growth of environmentally friendly HVAC systems. Thus, green HVAC systems are in development in the region and are expected to improve the energy and cost efficiency of the systems.
HVAC Industry Segmentation
HVAC indicates the heating, ventilation, and air conditioning systems. HVAC solutions are the different structures, equipment, as well as technology that are able to improve and increase comfort indoors through an optimum temperature maintenance. They can be used in diverse locations, such as residential, industrial, office, and transport vehicles.
The market is segmented on the basis of equipment into the following: Heat Pumps
Furnaces
Boilers
Others Air-Handling Units
Air Filters and Purifiers
Ventilation Fans
Dehumidifiers and Humidifiers
Others Unitary Air Conditioners
VRF System
Chillers
Window and Portable Air Conditioners
Cooling Towers
Others
The HVAC industry is divided on the basis of implementation into the following:
VRF systems have the potential to reduce energy consumption and costs. They use environmentally-friendly refrigerants such as HFC-32 that is crucial to minimise the effects of global warming. Moreover, the systems are noiseless and are able to precisely control temperatures, can handle higher loads when the individual a/c units are running in summer and generate heat efficiently during winters.The key players operating in the HVAC industry have been increasingly investing in research and development for new and innovative technological solutions, which are further expected to propel the market ahead. The growing application of HVAC in smart homes is projected to bolster the market for HVAC in North America.
Key Industry Players in the North America HVAC Market
The report gives a detailed analysis of the following key players in the North America HVAC market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
More Insights On
United States HVAC Market
India HVAC Market
Germany HVAC Market
United Kingdom HVAC Market
South Korea HVAC Market
Europe HVAC Market
Asia Pacific HVAC Market
France HVAC Market
Middle East and Africa HVAC Market
Chile HVAC Market
UAE HVAC Market
Saudi Arabia HVAC Market
The United States to Lead the HVAC Market in North America
The United States has been dominating the HVAC market share in North America and is expected to continue its dominance over the forecast years. The United States has an active presence of the key players in the global HVAC market , which is providing impetus for the growth of the HVAC industry in the country.
The United States Department of Energy has been investing heavily to improve the energy efficiency standards in the nation for sustainable development. The Department of Energy has also set up a mission to tackle the environmental and energy challenges in the nation through advanced science and technology. These steps are expected to propel the growth of environmentally friendly HVAC systems. Thus, green HVAC systems are in development in the region and are expected to improve the energy and cost efficiency of the systems.
HVAC Industry Segmentation
HVAC indicates the heating, ventilation, and air conditioning systems. HVAC solutions are the different structures, equipment, as well as technology that are able to improve and increase comfort indoors through an optimum temperature maintenance. They can be used in diverse locations, such as residential, industrial, office, and transport vehicles.
The market is segmented on the basis of equipment into the following:
- Heating
- Ventilation
- Cooling
The HVAC industry is divided on the basis of implementation into the following:
- New Constructions
- Retrofits
- Residential
- Commercial
- Industrial
- United States of America
- Canada
VRF systems have the potential to reduce energy consumption and costs. They use environmentally-friendly refrigerants such as HFC-32 that is crucial to minimise the effects of global warming. Moreover, the systems are noiseless and are able to precisely control temperatures, can handle higher loads when the individual a/c units are running in summer and generate heat efficiently during winters.The key players operating in the HVAC industry have been increasingly investing in research and development for new and innovative technological solutions, which are further expected to propel the market ahead. The growing application of HVAC in smart homes is projected to bolster the market for HVAC in North America.
Key Industry Players in the North America HVAC Market
The report gives a detailed analysis of the following key players in the North America HVAC market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Rheem Manufacturing Company
- Trane Technologies plc
- Lennox International Inc.
- Carrier Global Corporation
- Daikin Industries, Ltd.
- Honeywell International Inc.
- Johnson Controls International plc
- Others
More Insights On
United States HVAC Market
India HVAC Market
Germany HVAC Market
United Kingdom HVAC Market
South Korea HVAC Market
Europe HVAC Market
Asia Pacific HVAC Market
France HVAC Market
Middle East and Africa HVAC Market
Chile HVAC Market
UAE HVAC Market
Saudi Arabia HVAC Market
Table of Contents
100 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Countries
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 North America HVAC Market Analysis
- 5.1 Key Industry Highlights
- 5.2 North America HVAC Historical Market (2018-2024)
- 5.3 North America HVAC Market Forecast (2025-2034)
- 5.4 North America HVAC Market by Equipment
- 5.4.1 Heating
- 5.4.1.1 Historical Trend (2018-2024)
- 5.4.1.2 Forecast Trend (2025-2034)
- 5.4.1.3 Breakup by Type
- 5.4.1.3.1 Heat Pumps
- 5.4.1.3.1.1 Historical Trend (2018-2024)
- 5.4.1.3.1.2 Forecast Trend (2025-2034)
- 5.4.1.3.2 Furnaces
- 5.4.1.3.2.1 Historical Trend (2018-2024)
- 5.4.1.3.2.2 Forecast Trend (2025-2034)
- 5.4.1.3.3 Boilers
- 5.4.1.3.3.1 Historical Trend (2018-2024)
- 5.4.1.3.3.2 Forecast Trend (2025-2034)
- 5.4.1.3.4 Others
- 5.4.2 Ventilation
- 5.4.2.1 Historical Trend (2018-2024)
- 5.4.2.2 Forecast Trend (2025-2034)
- 5.4.2.3 Breakup by Type
- 5.4.2.3.1 Air-Handling Units
- 5.4.2.3.1.1 Historical Trend (2018-2024)
- 5.4.2.3.1.2 Forecast Trend (2025-2034)
- 5.4.2.3.2 Air Filters and Purifiers
- 5.4.2.3.2.1 Historical Trend (2018-2024)
- 5.4.2.3.2.2 Forecast Trend (2025-2034)
- 5.4.2.3.3 Ventilation Fans
- 5.4.2.3.3.1 Historical Trend (2018-2024)
- 5.4.2.3.3.2 Forecast Trend (2025-2034)
- 5.4.2.3.4 Dehumidifiers and Humidifiers
- 5.4.2.3.4.1 Historical Trend (2018-2024)
- 5.4.2.3.4.2 Forecast Trend (2025-2034)
- 5.4.2.3.5 Others
- 5.4.3 Cooling
- 5.4.3.1 Historical Trend (2018-2024)
- 5.4.3.2 Forecast Trend (2025-2034)
- 5.4.3.3 Breakup by Type
- 5.4.3.3.1 Unitary Air Conditioners
- 5.4.3.3.1.1 Historical Trend (2018-2024)
- 5.4.3.3.1.2 Forecast Trend (2025-2034)
- 5.4.3.3.2 VRF System
- 5.4.3.3.2.1 Historical Trend (2018-2024)
- 5.4.3.3.2.2 Forecast Trend (2025-2034)
- 5.4.3.3.3 Chillers
- 5.4.3.3.3.1 Historical Trend (2018-2024)
- 5.4.3.3.3.2 Forecast Trend (2025-2034)
- 5.4.3.3.4 Window and Portable Air Conditioners
- 5.4.3.3.4.1 Historical Trend (2018-2024)
- 5.4.3.3.4.2 Forecast Trend (2025-2034)
- 5.4.3.3.5 Cooling Towers
- 5.4.3.3.5.1 Historical Trend (2018-2024)
- 5.4.3.3.5.2 Forecast Trend (2025-2034)
- 5.4.3.3.6 Others
- 5.5 North America HVAC Market by Implementation
- 5.5.1 New Constructions
- 5.5.1.1 Historical Trend (2018-2024)
- 5.5.1.2 Forecast Trend (2025-2034)
- 5.5.2 Retrofits
- 5.5.2.1 Historical Trend (2018-2024)
- 5.5.2.2 Forecast Trend (2025-2034)
- 5.6 North America HVAC Market by End Use
- 5.6.1 Residential
- 5.6.1.1 Historical Trend (2018-2024)
- 5.6.1.2 Forecast Trend (2025-2034)
- 5.6.2 Commercial
- 5.6.2.1 Historical Trend (2018-2024)
- 5.6.2.2 Forecast Trend (2025-2034)
- 5.6.3 Industrial
- 5.6.3.1 Historical Trend (2018-2024)
- 5.6.3.2 Forecast Trend (2025-2034)
- 5.7 North America HVAC Market by Region
- 5.7.1 United States of America
- 5.7.2 Canada
- 6 Regional Analysis
- 6.1 United States of America
- 6.1.1 Historical Trend (2018-2024)
- 6.1.2 Forecast Trend (2025-2034)
- 6.2 Canada
- 6.2.1 Historical Trend (2018-2024)
- 6.2.2 Forecast Trend (2025-2034)
- 7 Market Dynamics
- 7.1 SWOT Analysis
- 7.1.1 Strengths
- 7.1.2 Weaknesses
- 7.1.3 Opportunities
- 7.1.4 Threats
- 7.2 Porter’s Five Forces Analysis
- 7.2.1 Supplier’s Power
- 7.2.2 Buyer’s Power
- 7.2.3 Threat of New Entrants
- 7.2.4 Degree of Rivalry
- 7.2.5 Threat of Substitutes
- 7.3 Key Indicators for Demand
- 7.4 Key Indicators for Price
- 8 Value Chain Analysis
- 9 Competitive Landscape
- 9.1 Supplier Selection
- 9.2 Key Global Players
- 9.3 Key Regional Players
- 9.4 Key Player Strategies
- 9.5 Company Profiles
- 9.5.1 Rheem Manufacturing Company
- 9.5.1.1 Company Overview
- 9.5.1.2 Product Portfolio
- 9.5.1.3 Demographic Reach and Achievements
- 9.5.1.4 Certifications
- 9.5.2 Trane Technologies plc
- 9.5.2.1 Company Overview
- 9.5.2.2 Product Portfolio
- 9.5.2.3 Demographic Reach and Achievements
- 9.5.2.4 Certifications
- 9.5.3 Lennox International Inc.
- 9.5.3.1 Company Overview
- 9.5.3.2 Product Portfolio
- 9.5.3.3 Demographic Reach and Achievements
- 9.5.3.4 Certifications
- 9.5.4 Carrier Global Corporation
- 9.5.4.1 Company Overview
- 9.5.4.2 Product Portfolio
- 9.5.4.3 Demographic Reach and Achievements
- 9.5.4.4 Certifications
- 9.5.5 Daikin Industries, Ltd.
- 9.5.5.1 Company Overview
- 9.5.5.2 Product Portfolio
- 9.5.5.3 Demographic Reach and Achievements
- 9.5.5.4 Certifications
- 9.5.6 Honeywell International Inc.
- 9.5.6.1 Company Overview
- 9.5.6.2 Product Portfolio
- 9.5.6.3 Demographic Reach and Achievements
- 9.5.6.4 Certifications
- 9.5.7 Johnson Controls International plc
- 9.5.7.1 Company Overview
- 9.5.7.2 Product Portfolio
- 9.5.7.3 Demographic Reach and Achievements
- 9.5.7.4 Certifications
- 9.5.8 Others
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.