HVAC Equipment Market in North America 2024-2028

The HVAC equipment market in North America is forecasted to grow by USD 8.62 bn during 2023-2028, accelerating at a CAGR of 6.29% during the forecast period. The report on the HVAC equipment market in North America provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by changing climate condition, increasing demand for energy-efficient HVAC systems, and increasing disposable income and rise in migration.

Market Scope
Base Year	2023
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	5.71%
CAGR	6.29%
Incremental Value	$8.62bn

Technavio's HVAC equipment market in North America is segmented as below:

By Product

Air conditioning equipment
Heating equipment
Ventilation equipment

By End-user

Non-residential
Residential

This study identifies smart HVAC equipment as one of the prime reasons driving the HVAC equipment market in North America's growth during the next few years. Also, the use of low-GWP refrigerants and growing preference for customized HVAC systems will lead to sizable demand in the market.

The report on the HVAC equipment market in North America covers the following areas:

HVAC equipment market in North America sizing
HVAC equipment market in North America forecast
HVAC equipment market in North America industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading HVAC equipment market in North America vendors that include A. O. Smith Corp., AAON Inc., Daikin Industries Ltd., Electrolux AB, Emerson Electric Co., Fujitsu Ltd., Zhuhai Gree Electric Appliances Co. Ltd., Haier Smart Home Co. Ltd., Hitachi Ltd., Ingersoll Rand Inc., Johnson Controls International Plc, Lennox International Inc., LG Corp., MIDEA Group Co. Ltd., Nortek, Rheem Manufacturing Co., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Seeley International Pty Ltd., and Whirlpool Corp.. Also, the HVAC equipment market in North America analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR74509

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Country Market Characteristics
Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
Exhibit 05: Executive Summary - Chart on Market Segmentation by Product
Exhibit 06: Executive Summary - Chart on Market Segmentation by End-user
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Exhibit 14: Chart on North America - Market size and forecast 2023-2028 ($ billion)
Exhibit 15: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
Exhibit 16: Chart on North America: Year-over-year growth 2023-2028 (%)
Exhibit 17: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)

4 Historic Market Size

4.1 HVAC equipment market in North America 2018 - 2022
Exhibit 18: Historic Market Size - Data Table on hvac equipment market in north America 2018 - 2022 ($ million)
4.2 Product Segment Analysis 2018 - 2022
Exhibit 19: Historic Market Size - Product Segment 2018 - 2022 ($ million)
4.3 End-user Segment Analysis 2018 - 2022
Exhibit 20: Historic Market Size - End-user Segment 2018 - 2022 ($ million)
4.4 Geography Segment Analysis 2018 - 2022
Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 22: Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Exhibit 23: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Exhibit 24: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Exhibit 25: Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Exhibit 26: Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Exhibit 27: Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Exhibit 28: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Product

6.1 Market segments
Exhibit 29: Chart on Product - Market share 2023-2028 (%)
Exhibit 30: Data Table on Product - Market share 2023-2028 (%)
6.2 Comparison by Product
Exhibit 31: Chart on Comparison by Product
Exhibit 32: Data Table on Comparison by Product
6.3 Air conditioning equipment - Market size and forecast 2023-2028
Exhibit 33: Chart on Air conditioning equipment - Market size and forecast 2023-2028 ($ billion)
Exhibit 34: Data Table on Air conditioning equipment - Market size and forecast 2023-2028 ($ billion)
Exhibit 35: Chart on Air conditioning equipment - Year-over-year growth 2023-2028 (%)
Exhibit 36: Data Table on Air conditioning equipment - Year-over-year growth 2023-2028 (%)
6.4 Heating equipment - Market size and forecast 2023-2028
Exhibit 37: Chart on Heating equipment - Market size and forecast 2023-2028 ($ billion)
Exhibit 38: Data Table on Heating equipment - Market size and forecast 2023-2028 ($ billion)
Exhibit 39: Chart on Heating equipment - Year-over-year growth 2023-2028 (%)
Exhibit 40: Data Table on Heating equipment - Year-over-year growth 2023-2028 (%)
6.5 Ventilation equipment - Market size and forecast 2023-2028
Exhibit 41: Chart on Ventilation equipment - Market size and forecast 2023-2028 ($ billion)
Exhibit 42: Data Table on Ventilation equipment - Market size and forecast 2023-2028 ($ billion)
Exhibit 43: Chart on Ventilation equipment - Year-over-year growth 2023-2028 (%)
Exhibit 44: Data Table on Ventilation equipment - Year-over-year growth 2023-2028 (%)
6.6 Market opportunity by Product
Exhibit 45: Market opportunity by Product ($ billion)
Exhibit 46: Data Table on Market opportunity by Product ($ billion)

7 Market Segmentation by End-user

7.1 Market segments
Exhibit 47: Chart on End-user - Market share 2023-2028 (%)
Exhibit 48: Data Table on End-user - Market share 2023-2028 (%)
7.2 Comparison by End-user
Exhibit 49: Chart on Comparison by End-user
Exhibit 50: Data Table on Comparison by End-user
7.3 Non-residential - Market size and forecast 2023-2028
Exhibit 51: Chart on Non-residential - Market size and forecast 2023-2028 ($ billion)
Exhibit 52: Data Table on Non-residential - Market size and forecast 2023-2028 ($ billion)
Exhibit 53: Chart on Non-residential - Year-over-year growth 2023-2028 (%)
Exhibit 54: Data Table on Non-residential - Year-over-year growth 2023-2028 (%)
7.4 Residential - Market size and forecast 2023-2028
Exhibit 55: Chart on Residential - Market size and forecast 2023-2028 ($ billion)
Exhibit 56: Data Table on Residential - Market size and forecast 2023-2028 ($ billion)
Exhibit 57: Chart on Residential - Year-over-year growth 2023-2028 (%)
Exhibit 58: Data Table on Residential - Year-over-year growth 2023-2028 (%)
7.5 Market opportunity by End-user
Exhibit 59: Market opportunity by End-user ($ billion)
Exhibit 60: Data Table on Market opportunity by End-user ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 61: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 62: Chart on Market share By Geographical Landscape - 2023-2028 (%)
Exhibit 63: Data Table on Market share By Geographical Landscape - 2023-2028 (%)
9.2 Geographic comparison
Exhibit 64: Chart on Geographic comparison
Exhibit 65: Data Table on Geographic comparison
9.3 US - Market size and forecast 2023-2028
Exhibit 66: Chart on US - Market size and forecast 2023-2028 ($ billion)
Exhibit 67: Data Table on US - Market size and forecast 2023-2028 ($ billion)
Exhibit 68: Chart on US - Year-over-year growth 2023-2028 (%)
Exhibit 69: Data Table on US - Year-over-year growth 2023-2028 (%)
9.4 Mexico - Market size and forecast 2023-2028
Exhibit 70: Chart on Mexico - Market size and forecast 2023-2028 ($ billion)
Exhibit 71: Data Table on Mexico - Market size and forecast 2023-2028 ($ billion)
Exhibit 72: Chart on Mexico - Year-over-year growth 2023-2028 (%)
Exhibit 73: Data Table on Mexico - Year-over-year growth 2023-2028 (%)
9.5 Canada - Market size and forecast 2023-2028
Exhibit 74: Chart on Canada - Market size and forecast 2023-2028 ($ billion)
Exhibit 75: Data Table on Canada - Market size and forecast 2023-2028 ($ billion)
Exhibit 76: Chart on Canada - Year-over-year growth 2023-2028 (%)
Exhibit 77: Data Table on Canada - Year-over-year growth 2023-2028 (%)
9.6 Market opportunity By Geographical Landscape
Exhibit 78: Market opportunity By Geographical Landscape ($ billion)
Exhibit 79: Data Table on Market opportunity By Geographical Landscape ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 80: Impact of drivers and challenges in 2023 and 2028
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 81: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 82: Overview on factors of disruption
11.4 Industry risks
Exhibit 83: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 84: Vendors covered
12.2 Market positioning of vendors
Exhibit 85: Matrix on vendor position and classification
12.3 A. O. Smith Corp.
Exhibit 86: A. O. Smith Corp. - Overview
Exhibit 87: A. O. Smith Corp. - Business segments
Exhibit 88: A. O. Smith Corp. - Key offerings
Exhibit 89: A. O. Smith Corp. - Segment focus
12.4 Daikin Industries Ltd.
Exhibit 90: Daikin Industries Ltd. - Overview
Exhibit 91: Daikin Industries Ltd. - Business segments
Exhibit 92: Daikin Industries Ltd. - Key news
Exhibit 93: Daikin Industries Ltd. - Key offerings
Exhibit 94: Daikin Industries Ltd. - Segment focus
12.5 Electrolux AB
Exhibit 95: Electrolux AB - Overview
Exhibit 96: Electrolux AB - Business segments
Exhibit 97: Electrolux AB - Key news
Exhibit 98: Electrolux AB - Key offerings
Exhibit 99: Electrolux AB - Segment focus
12.6 Fujitsu Ltd.
Exhibit 100: Fujitsu Ltd. - Overview
Exhibit 101: Fujitsu Ltd. - Business segments
Exhibit 102: Fujitsu Ltd. - Key news
Exhibit 103: Fujitsu Ltd. - Key offerings
Exhibit 104: Fujitsu Ltd. - Segment focus
12.7 Zhuhai Gree Electric Appliances Co. Ltd.
Exhibit 105: Zhuhai Gree Electric Appliances Co. Ltd. - Overview
Exhibit 106: Zhuhai Gree Electric Appliances Co. Ltd. - Product / Service
Exhibit 107: Zhuhai Gree Electric Appliances Co. Ltd. - Key offerings
12.8 Haier Smart Home Co. Ltd.
Exhibit 108: Haier Smart Home Co. Ltd. - Overview
Exhibit 109: Haier Smart Home Co. Ltd. - Business segments
Exhibit 110: Haier Smart Home Co. Ltd. - Key offerings
Exhibit 111: Haier Smart Home Co. Ltd. - Segment focus
12.9 Hitachi Ltd.
Exhibit 112: Hitachi Ltd. - Overview
Exhibit 113: Hitachi Ltd. - Business segments
Exhibit 114: Hitachi Ltd. - Key news
Exhibit 115: Hitachi Ltd. - Key offerings
Exhibit 116: Hitachi Ltd. - Segment focus
12.10 Ingersoll Rand Inc.
Exhibit 117: Ingersoll Rand Inc. - Overview
Exhibit 118: Ingersoll Rand Inc. - Business segments
Exhibit 119: Ingersoll Rand Inc. - Key offerings
Exhibit 120: Ingersoll Rand Inc. - Segment focus
12.11 Johnson Controls International Plc
Exhibit 121: Johnson Controls International Plc - Overview
Exhibit 122: Johnson Controls International Plc - Business segments
Exhibit 123: Johnson Controls International Plc - Key news
Exhibit 124: Johnson Controls International Plc - Key offerings
Exhibit 125: Johnson Controls International Plc - Segment focus
12.12 Lennox International Inc.
Exhibit 126: Lennox International Inc. - Overview
Exhibit 127: Lennox International Inc. - Business segments
Exhibit 128: Lennox International Inc. - Key news
Exhibit 129: Lennox International Inc. - Key offerings
Exhibit 130: Lennox International Inc. - Segment focus
12.13 LG Corp.
Exhibit 131: LG Corp. - Overview
Exhibit 132: LG Corp. - Business segments
Exhibit 133: LG Corp. - Key offerings
Exhibit 134: LG Corp. - Segment focus
12.14 MIDEA Group Co. Ltd.
Exhibit 135: MIDEA Group Co. Ltd. - Overview
Exhibit 136: MIDEA Group Co. Ltd. - Product / Service
Exhibit 137: MIDEA Group Co. Ltd. - Key offerings
12.15 Robert Bosch GmbH
Exhibit 138: Robert Bosch GmbH - Overview
Exhibit 139: Robert Bosch GmbH - Business segments
Exhibit 140: Robert Bosch GmbH - Key news
Exhibit 141: Robert Bosch GmbH - Key offerings
Exhibit 142: Robert Bosch GmbH - Segment focus
12.16 Samsung Electronics Co. Ltd.
Exhibit 143: Samsung Electronics Co. Ltd. - Overview
Exhibit 144: Samsung Electronics Co. Ltd. - Business segments
Exhibit 145: Samsung Electronics Co. Ltd. - Key news
Exhibit 146: Samsung Electronics Co. Ltd. - Key offerings
Exhibit 147: Samsung Electronics Co. Ltd. - Segment focus
12.17 Whirlpool Corp.
Exhibit 148: Whirlpool Corp. - Overview
Exhibit 149: Whirlpool Corp. - Business segments
Exhibit 150: Whirlpool Corp. - Key offerings
Exhibit 151: Whirlpool Corp. - Segment focus

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 152: Inclusions checklist
Exhibit 153: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 154: Currency conversion rates for US$
13.4 Research methodology
Exhibit 155: Research methodology
Exhibit 156: Validation techniques employed for market sizing
Exhibit 157: Information sources
13.5 List of abbreviations
Exhibit 158: List of abbreviations