The HVAC equipment market share in North America will post an incremental growth of USD 10.22 billion, progressing at a CAGR of 5.15% during the forecast period. The changing climatic conditions will offer immense growth opportunities to market vendors. The market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “HVAC Equipment Market in North America Research Report, Size, Growth, Trends, Opportunity Analysis, Industry Forecast - 2022-2026” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The HVAC equipment market in North America is segmented by product (air conditioning equipment, heating equipment, and ventilation equipment) and end-user (non-residential and residential).
The growth of the HVAC equipment market size in North America by the air conditioning equipment segment will be significant during the forecast period. The operation of the air conditioning equipment depends on the characteristics of the building or home where the equipment is used. which in turn boosts the market growth.
The changing climatic conditions will directly influence the HVAC equipment market in North America. In addition, smart HVAC equipment is one of the major HVAC equipment market trends in North America that will positively impact the market growth. However, factors such as the shortage of skilled labor will hamper the HVAC equipment market growth in North America.
The market is fragmented due to the presence of several players. Some of the major HVAC equipment market vendors in North America are A. O. Smith Corp., AAON inc., AB Electrolux, Daikin Industries Ltd, Emerson Electric Co., Fujitsu Ltd., Gree Electric Appliances inc. of Zhuhai, Haier Smart Home Co. Ltd., Hitachi Ltd., Ingersoll Rand inc., Johnson Controls International Plc, Lennox international inc., LG Electronics inc., MIDEA Group Co. Ltd., Nortek inc., Rheem Manufacturing Co., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Seeley International Pty Ltd., and Whirlpool Corp.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026).
CAGR of the HVAC equipment market in North America forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the HVAC equipment market share in North America.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the HVAC equipment market in North America.
HVAC Equipment industry growth across North America.