Demand for commercial ventilation system is driving the growth of the United States commercial HVAC Market, in the forecast period, 2022-2026F.
According to TechSci Research report on, “United States Commercial HVAC Market – By Region, Competition, Forecast & Opportunities, 2026” United States commercial HVAC market has shown USD14.70 billion growth in the year 2020 and is expected to continue its growth with 4.01% CAGR in forecast years 2022 to 2026, to reach USD18.94 billion by 2026. The United States commercial HVAC market owes its growth to the factors like increasing demand for advanced appliances for HVAC systems to reduce energy consumption.
Surging industrialization and urbanization in the country is further driving the growth of the United States commercial HVAC market in the upcoming five years. Increasing demands for heating, ventilation, and air conditioning system in the commercial buildings and corporate offices is further supporting the growth of the United States commercial HVAC market in the next five years.
Added advantages such as remote access, green energy modules, and advanced technology incorporation to enhance the system’s functioning are further aiding the growth of the United States commercial HVAC market in the future five years. The modern technology HVAC system uses natural refrigerants like carbon dioxide and has government support through favorable schemes and launch strategies that are also substantiating the growth of the United States commercial HVAC system in the forecast years until 2027.
Growing awareness among consumers regarding depleting environmental conditions, use of green-energy models, and installation of appliances that save energy also drive the growth of the United States commercial HVAC market in the forecast period.
Furthermore, high installation and maintenance costs may create mild hindrance in the future growth of the United States commercial HVAC market in the upcoming five years. Government financial support may help in overcoming the setbacks and support future market growth.
Browse over 29 market data Figures and 4 market data Tables spread through 87 Pages and an in-depth TOC on “United States Commercial HVAC Market”
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The United States commercial HVAC market is segmented based on product type, end user, sales channel, region, and competitional landscape. Based on product type, the market is further fragmented into chillers, cooling towers, air handling units, VRF, heat pumps, and others. Air handling units are expected to register the fastest CAGR value in the upcoming five years due to increasing concerns toward environment depletion and thus cause poor quality of air.
Air handling units are responsible for re-conditioning the outside air and monitoring the temperature and moisture in the air and then supplying it inside the building. Due to increased industrialization and multiple activities creating pollution on a large scale, demand for air handling units is rapidly increasing. Also, the recent pandemic situation further aided the growth of the sub-segment. Demand for cleaner and viral infection-free air inside the building upsurged and drives the future probabilities of the United States commercial HVAC market in the next five years.
Based on the sales channel, the market is further bifurcated into distributors/ dealers and institutional sales. Distributors/ dealers are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on account of the availability of multiple brands and comparative analysis for all the products on a single platform.
Also, maintenance and installation costs of the HVAC system is quite high; therefore, the end user industries prefer sales through dealers and distributors since they provide in-time installation and regulated maintenance and through schemes and offers a better maintenance plan to reduce the cost, thus aiding to the growth of the subsegment in the future five years.
A partial list of major market players of the United States commercial HVAC market includes:
· Daikin North America LLC
· Carrier Global Corporation
· Mitsubishi Electric Trane HVAC US LLC (METUS)
· Johnson Controls, Inc
· Lennox International Inc
· Nortek Global HVAC LLC
· LG Electronics USA, Inc.
· Samsung HVAC America, LLC
· Rheem Manufacturing Company
· Danfoss LLC
Daikin North America LLC is expected to be the dominant leader of the market with its wide range of air conditioning appliances. Also, the acquisition of Goodman Manufacturing Company L.P. in 2012 provided a homegrown market in the United States to Daikin and supported its brand establishment in the next years. In the year 2019, the company launched One+ Smart Thermostat, which offers complete two-way communications. It is mainly for users who want to adjust the temperature.
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“Southern region and western region of the States hold approximately 60% of the market share. Higher industrialization, urbanization, and increasing production units in the regions are expected to drive the growth of the market in the particular regions. Increasing number of market players and increased globalization of the regional states are further expected to aid the growth of the United States commercial HVAC market in the next five years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Commercial HVAC Market By Product Type (Chillers, Cooling Towers, Air Handling Units, VRF, Heat Pumps, Others), By End User (Industries, Institutional, Commercial Real Estate, HORECA, Others), By Sales Channel (Distributor/Dealer, Institutional Sales), By Region (South, West, Midwest and Northeast), Competition, Forecast & Opportunities, 2016-2026” has evaluated the future growth potential of United States commercial HVAC market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in United States commercial HVAC market.
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