North American Heating, Ventilation, and Air Conditioning Growth Opportunities

North American Heating, Ventilation, and Air Conditioning Growth Opportunities

Growth Strategies Will Center Connected Solutions for Energy Optimization and Enhanced Occupant Comfort Inside the Built Environment

RELEASE DATE
26-Jul-2021
REGION
North America
Research Code: MG0E-01-00-00-00
SKU: EN01260-NA-MT_25612
$4,950.00
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$4,950.00
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Description

The COVID-19 pandemic impact on the North American HVAC market was relatively muted than expected. While the market was forecast to slump by 6% in 2020, the post-Q2 2020 rebound helped HVAC manufacturers get their business back on track. Amid the government change in the United States and the adoption of favorable climate change regulations and protocols, the market is expected to leverage the need for better indoor air quality and attaining net-zero energy targets.

The North American HVAC systems market was $24.09 billion in 2020 and is forecast to record a 6.3% CAGR over the next seven years to 2027. The demand for air conditioning equipment in the southern region of the United States and parts of Canada, which experience heat waves every year, will propel cooling equipment sales. Leading manufacturers’ focus on megatrends such as digitization and urbanization, increasing disposable incomes, and climate change will lead to technologically advanced solutions that cater to different customer segments.

The competitive success factors in the region include brand reputation, product quality and cost, knowledge support lent by installers or building managers, and ease of installation and use. The dwindling number of qualified HVAC personal is a cause for concern in the HVAC equipment market. There are also insufficient certified professionals on new technologies emerging in the HVAC market. Hesitancy remains in the commercial buildings replacement market as owners or facility managers prefer a like-to-like replacement rather than upgrading their systems.

Frost & Sullivan divided the market by product type into heating equipment (e.g., heat pumps, boilers, furnaces, unitary heaters), ventilation equipment (e.g., ventilation fans, air handling and fan coil units, humidifiers/dehumidifiers, air cleaners), and cooling equipment (e.g., ducted split/packaged unit, split units, room ACs, chillers, variable refrigerant flow). This study also covers HVAC controls and sensors, including networked/communicating devices for HVAC controls and temperature, humidity, occupancy, and CO2 level sensors.

We split the vertical market into three: Residential; industrial, including warehouses, factories, and manufacturing plants; and commercial, including offices, malls, schools, universities/colleges, healthcare, hospitality, data centers, transportation, and government buildings.


Research Highlights

  • Current and future market growth rates
  • Market segmentation by product type and vertical
  • HVAC systems’ future growth potential
  • Major drivers and trends influencing the market
  • Leading market participants in the region and comparative analysis
  • Current distribution structure and expected future changes

 

Author: Dennis Marcell Victor

Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Heating, Ventilation, and Air Conditioning (HVAC) Market

Growth Opportunities Fuel the Growth Pipeline Engine™

Key Findings

Scope of Analysis

Market Segmentation by Equipment Type

Market Segmentation by Vertical

Key Competitors

Key Growth Metrics

Distribution Channels

Distribution Channel Analysis

Growth Drivers

Growth Restraints

Mega Trends Analysis

PESTLE* Analysis

Forecast Assumptions

Revenue Forecast

Revenue Forecast Analysis

HVAC Demand by Region—West and Midwest United States

HVAC Demand by Region—South and Northeast United States

Unit Shipment by Equipment Type and Size

Pricing Trends and Forecast Analysis

Communication Protocols for HVAC Controls

Communication Protocols for HVAC Controls (continued)

Competitive Environment

Competitive Success Factors

Revenue Share

Revenue Share Analysis

Key Growth Metrics

Revenue Forecast

Revenue Forecast Analysis

Revenue Forecast by Equipment Type

Revenue Forecast Analysis by Equipment Type

Revenue Forecast by Vertical

Revenue Forecast Analysis by Vertical

Revenue Forecast Analysis by Vertical (continued)

Revenue Forecast by Product

Revenue Forecast Analysis by Product

Key Growth Metrics

Revenue Forecast

Revenue Forecast Analysis

Revenue Forecast by Product

Revenue Forecast Analysis by Product

Revenue Forecast by Vertical

Revenue Forecast Analysis by Vertical

Growth Opportunity 1: Sustainable HVAC Solutions for First-Mover Advantage

Growth Opportunity 1: Sustainable HVAC Solutions for First-Mover Advantage (continued)

Growth Opportunity 2: Optimizing HVAC Equipment for Demand Response (DR) Programs

Growth Opportunity 2: Optimizing HVAC Equipment for Demand Response (DR) Programs (continued)

Growth Opportunity 3: HVACaaS for Service Innovation

Growth Opportunity 3: HVACaaS for Service Innovation (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

Related Research
The COVID-19 pandemic impact on the North American HVAC market was relatively muted than expected. While the market was forecast to slump by 6% in 2020, the post-Q2 2020 rebound helped HVAC manufacturers get their business back on track. Amid the government change in the United States and the adoption of favorable climate change regulations and protocols, the market is expected to leverage the need for better indoor air quality and attaining net-zero energy targets. The North American HVAC systems market was $24.09 billion in 2020 and is forecast to record a 6.3% CAGR over the next seven years to 2027. The demand for air conditioning equipment in the southern region of the United States and parts of Canada, which experience heat waves every year, will propel cooling equipment sales. Leading manufacturers’ focus on megatrends such as digitization and urbanization, increasing disposable incomes, and climate change will lead to technologically advanced solutions that cater to different customer segments. The competitive success factors in the region include brand reputation, product quality and cost, knowledge support lent by installers or building managers, and ease of installation and use. The dwindling number of qualified HVAC personal is a cause for concern in the HVAC equipment market. There are also insufficient certified professionals on new technologies emerging in the HVAC market. Hesitancy remains in the commercial buildings replacement market as owners or facility managers prefer a like-to-like replacement rather than upgrading their systems. Frost & Sullivan divided the market by product type into heating equipment (e.g., heat pumps, boilers, furnaces, unitary heaters), ventilation equipment (e.g., ventilation fans, air handling and fan coil units, humidifiers/dehumidifiers, air cleaners), and cooling equipment (e.g., ducted split/packaged unit, split units, room ACs, chillers, variable refrigerant flow). This study also covers HVAC controls and sensors, including networked/communicating devices for HVAC controls and temperature, humidity, occupancy, and CO2 level sensors. We split the vertical market into three: Residential; industrial, including warehouses, factories, and manufacturing plants; and commercial, including offices, malls, schools, universities/colleges, healthcare, hospitality, data centers, transportation, and government buildings.--BEGIN PROMO--

Research Highlights

  • Current and future market growth rates
  • Market segmentation by product type and vertical
  • HVAC systems’ future growth potential
  • Major drivers and trends influencing the market
  • Leading market participants in the region and comparative analysis
  • Current distribution structure and expected future changes

 

Author: Dennis Marcell Victor

More Information
No Index No
Podcast No
Author Dennis Marcell Victor
Industries Environment
WIP Number MG0E-01-00-00-00
Is Prebook No
GPS Codes 9343-A4