U.S. HVAC Systems Market Size, Share & Trends Analysis Report By Product (AC, Heat Pump), By Technology (Inverter, Non-Inverter), By End Use (Industrial, Commercial, Residential), And Segment Forecasts, 2019 - 2025

Published: Nov, 2019 | Pages: 110 | Publisher: Grand View Research
Industry: Construction | Report Format: Electronic (PDF)

The U.S. HVAC systems market size is estimated to rise to a valuation of USD 31.1 billion by 2025, according to a new study by Grand View Research, Inc., registering a CAGR of 9.7% over the forecast period. Significant rise in the usage of highly energy-efficient air conditioners and heat pumps is estimated to fuel demand for HVAC solutions. Stringent government regulations to reduce overall energy consumption and minimize carbon emission from HVAC systems is expected to play a crucial role in market growth.

Rebate and incentive programs offered by the U.S. government to promote the use of eco-friendly and energy-efficient products is expected to elevate demand for HVAC systems from 2019 to 2025. HVAC solutions are being designed with next-generation technologies, such as smart sensors, remote control systems, and connectivity with other devices to provide optimum comfort as well as excellent customer experience. In addition, several key market players such as Daikin Industries Ltd. and LG Electronics are offering IoT-based air conditioners (AC) to monitor, control, and analyze overall system's energy consumption through a user's smartphones.

Despite numerous benefits, high installation and maintenance costs, coupled with the complexity of retrofitting HVAC installations, are major factors restraining the market growth. However, rise in construction of commercial buildings and hospitals, along with increasing disposable income, is anticipated to foster demand for HVAC solutions over the forecast period. Additionally, government regulations to eliminate the usage of refrigerants such as R-22 or HCFC-22 in cooling systems is estimated to drive U.S. HVAC systems market growth over the forecast period.

Further key findings from the study suggest:

• In 2018, the air conditioner segment, in terms of volume, exceeded 15 million units owing to increasing demand for new residential and commercial buildings

• Inverter AC technology accounted for more than 60.0% in terms of value in 2018. This is attributed to benefits such as energy savings and preventing systems from high voltage fluctuations

• Rapid innovation in heat pump technologies, such as advent of dual-fuel heat pumps and geothermal heat pumps, are anticipated to boost the heat pump segment

• Increased spending in construction of office spaces, warehouses, and hospitals, among others is estimated to propel the commercial segment from 2019 to 2025

• High focus on R&D investments by key market players, including Daikin Industries Ltd.; Carrier Corporation; Trane; LG Electronics; and Haier Inc., to introduce new innovative products is expected to create significant opportunities for the U.S. HVAC systems market market over the forecast period.

 Table of Contents

Chapter 1. Methodology and Scope
                    1.1. Research Methodology
                    1.2. Research Scope and Assumptions
                    1.3. List of Data Sources
Chapter 2. Executive Summary
                    2.1. U.S. HVAC systems - Industry Snapshot & Key Buying Criteria, 2015 - 2025
Chapter 3. U.S. HVAC systems Industry Outlook
                    3.1. Market Segmentation
                    3.2. Market Size and Growth Prospects, 2015 - 2025
                    3.3. Value Chain Analysis
                    3.4. Market Dynamics
                         3.4.1. Market driver analysis
                         3.4.2. Market restraint/challenge analysis
                         3.4.3. Market opportunity analysis
                    3.5. Key Opportunities Prioritized
                    3.6. Industry Analysis - Porter's
                         3.6.1. Supplier Power
                         3.6.2. Buyer Power
                         3.6.3. Substitution Threat
                         3.6.4. Threat from new entrant
                    3.7. PEST Analysis
                         3.7.1. Political Landscape
                         3.7.2. Environmental Landscape
                         3.7.3. Social Landscape
                         3.7.4. Technology Landscape
                    3.8. Macroeconomic Factor Analysis
                    3.9. Key Market Distributors & Retailers
                    3.10. Policies and Government Regulations Affecting HVAC Industry
                    3.11. Technology (patent) and Technical Trend Analysis
                    3.12. U.S. HVAC Systems Market- Import Scenarios
                    3.13. U.S. Market: Price Analysis for HVAC Compressors, 2018
Chapter 4. U.S. HVAC Systems Market: Product Outlook
                    4.1. U.S. HVAC Systems Market Share by Product, 2018 & 2025 (USD Billion)
                    4.2. U.S. HVAC Systems Market Share by Product, 2018 & 2025 (Million Units)
                    4.3. Air Conditioner
                         4.3.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                         4.3.2. Market estimates and forecast, 2015 - 2025 (Million Units)
                         4.3.3. Market estimates and forecast by region, 2015 - 2025 (USD Billion)
                         4.3.4. Market estimates and forecast by region, 2015 - 2025 (Million Units)
                    4.4. Heat Pump
                         4.4.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                         4.4.2. Market estimates and forecast, 2015 - 2025 (Million Units)
                         4.4.3. Market estimates and forecast by region, 2015 - 2025 (USD Billion)
                         4.4.4. Market estimates and forecast by region, 2015 - 2025 (Million Units)
Chapter 5. U.S. HVAC Systems Market: Technology Outlook
                    5.1. U.S. HVAC Systems Market Share by Technology, 2018 & 2025 (USD Billion)
                    5.2. U.S. HVAC Systems Market Share by Technology, 2018 & 2025 (Million Units)
                    5.3. Inverter
                         5.3.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                         5.3.2. Market estimates and forecast, 2015 - 2025 (Million Units)
                         5.3.3. Market estimates and forecast by region, 2015 - 2025 (USD Billion)
                         5.3.4. Market estimates and forecast by region, 2015 - 2025 (Million Units)
                    5.4. Non-Inverter
                         5.4.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                         5.4.2. Market estimates and forecast, 2015 - 2025 (Million Units)
                         5.4.3. Market estimates and forecast by region, 2015 - 2025 (USD Billion)
                         5.4.4. Market estimates and forecast by region, 2015 - 2025 (Million Units)
Chapter 6. U.S. HVAC Systems Market: End Use Outlook
                    6.1. U.S. HVAC Systems Market Share by End Use, 2018 & 2025 (USD Billion)
                    6.2. U.S. HVAC Systems Market Share by End Use, 2018 & 2025 (Million Units)
                    6.3. Residential
                         6.3.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                         6.3.2. Market estimates and forecast, 2015 - 2025 (Million Units)
                         6.3.3. Market estimates and forecast by region, 2015 - 2025 (USD Billion)
                         6.3.4. Market estimates and forecast by region, 2015 - 2025 (Million Units)
                    6.4. Commercial
                         6.4.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                         6.4.2. Market estimates and forecast, 2015 - 2025 (Million Units)
                         6.4.3. Market estimates and forecast by region, 2015 - 2025 (USD Billion)
                         6.4.4. Market estimates and forecast by region, 2015 - 2025 (Million Units)
                    6.5. Industrial
                         6.5.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                         6.5.2. Market estimates and forecast, 2015 - 2025 (Million Units)
                         6.5.3. Market estimates and forecast by region, 2015 - 2025 (USD Billion)
                         6.5.4. Market estimates and forecast by region, 2015 - 2025 (Million Units)
Chapter 7. U.S. HVAC systems Market: Regional Outlook
                    7.1. U.S. HVAC systems Market Share by Region, 2015 & 2025 (USD Billion)
                    7.2. U.S. HVAC systems Market Share by Region, 2015 & 2025 (Million Units)
                    7.3. U.S.
                         7.3.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                         7.3.2. Market estimates and forecast, 2015 - 2025 (Million Units)
                         7.3.3. Market estimates and forecast by product, 2015 - 2025 (USD Billion)
                         7.3.4. Market estimates and forecast, by product, 2015 - 2025 (Million Units)
                         7.3.5. Market estimates and forecast by technology, 2015 - 2025 (USD Billion)
                         7.3.6. Market estimates and forecast, by technology, 2015 - 2025 (Million Units)
                         7.3.7. Market estimates and forecast by end use, 2015 - 2025 (USD Billion)
                         7.3.8. Market estimates and forecast, by end use, 2015 - 2025 (Million Units)
                         7.3.9. South
                              7.3.9.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                              7.3.9.2. Market estimates and forecast, 2015 - 2025 (Million Units)
                              7.3.9.3. Market estimates and forecast by product, 2015 - 2025 (USD Billion)
                              7.3.9.4. Market estimates and forecast, by product, 2015 - 2025 (Million Units)
                              7.3.9.5. Market estimates and forecast by technology, 2015 - 2025 (USD Billion)
                              7.3.9.6. Market estimates and forecast, by technology, 2015 - 2025 (Million Units)
                              7.3.9.7. Market estimates and forecast by end use, 2015 - 2025 (USD Billion)
                              7.3.9.8. Market estimates and forecast, by end use, 2015 - 2025 (Million Units)
                         7.3.10. West
                              7.3.10.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                              7.3.10.2. Market estimates and forecast, 2015 - 2025 (Million Units)
                              7.3.10.3. Market estimates and forecast by product, 2015 - 2025 (USD Billion)
                              7.3.10.4. Market estimates and forecast, by product, 2015 - 2025 (Million Units)
                              7.3.10.5. Market estimates and forecast by technology, 2015 - 2025 (USD Billion)
                              7.3.10.6. Market estimates and forecast, by technology, 2015 - 2025 (Million Units)
                              7.3.10.7. Market estimates and forecast by end use, 2015 - 2025 (USD Billion)
                              7.3.10.8. Market estimates and forecast, by end use, 2015 - 2025 (Million Units)
                         7.3.11. Northeast
                              7.3.11.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                              7.3.11.2. Market estimates and forecast, 2015 - 2025 (Million Units)
                              7.3.11.3. Market estimates and forecast by product, 2015 - 2025 (USD Billion)
                              7.3.11.4. Market estimates and forecast, by product, 2015 - 2025 (Million Units)
                              7.3.11.5. Market estimates and forecast by technology, 2015 - 2025 (USD Billion)
                              7.3.11.6. Market estimates and forecast, by technology, 2015 - 2025 (Million Units)
                              7.3.11.7. Market estimates and forecast by end use, 2015 - 2025 (USD Billion)
                              7.3.11.8. Market estimates and forecast, by end use, 2015 - 2025 (Million Units)
                         7.3.12. Midwest
                              7.3.12.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                              7.3.12.2. Market estimates and forecast, 2015 - 2025 (Million Units)
                              7.3.12.3. Market estimates and forecast by product, 2015 - 2025 (USD Billion)
                              7.3.12.4. Market estimates and forecast, by product, 2015 - 2025 (Million Units)
                              7.3.12.5. Market estimates and forecast by technology, 2015 - 2025 (USD Billion)
                              7.3.12.6. Market estimates and forecast, by technology, 2015 - 2025 (Million Units)
                              7.3.12.7. Market estimates and forecast by end use, 2015 - 2025 (USD Billion)
                              7.3.12.8. Market estimates and forecast, by end use, 2015 - 2025 (Million Units)
Chapter 8. Competitive Landscape
                    8.1. Daikin Industries Ltd.
                         8.1.1. Company overview
                         8.1.2. Financial performance
                         8.1.3. Product benchmarking
                         8.1.4. Strategic initiatives
                    8.2. Ingrasoll Rand PLC
                         8.2.1. Company overview
                         8.2.2. Financial performance
                         8.2.3. Product benchmarking
                         8.2.4. Strategic initiatives
                    8.3. Rheem Manufacturing Company
                         8.3.1. Company overview
                         8.3.2. Financial performance
                         8.3.3. Product benchmarking
                         8.3.4. Strategic initiatives
                    8.4. LG Electronics
                         8.4.1. Company overview
                         8.4.2. Financial performance
                         8.4.3. Product benchmarking
                         8.4.4. Strategic initiatives
                    8.5. Emerson Electric Co.
                         8.5.1. Company overview
                         8.5.2. Financial performance
                         8.5.3. Product benchmarking
                         8.5.4. Strategic initiatives
                    8.6. Lennox International Inc.
                         8.6.1. Company overview
                         8.6.2. Financial performance
                         8.6.3. Product benchmarking
                         8.6.4. Strategic initiatives
                    8.7. Goodman Manufacturing Company, L.P.
                         8.7.1. Company overview
                         8.7.2. Financial performance
                         8.7.3. Product benchmarking
                         8.7.4. Strategic initiatives
                    8.8. Fujitsu General
                         8.8.1. Company overview
                         8.8.2. Financial performance
                         8.8.3. Product benchmarking
                         8.8.4. Strategic initiatives
                    8.9. Haier Inc.
                         8.9.1. Company overview
                         8.9.2. Financial performance
                         8.9.3. Product benchmarking
                         8.9.4. Strategic initiatives
                    8.10. United Technologies Corporation
                         8.10.1. Company overview
                         8.10.2. Financial performance
                         8.10.3. Product benchmarking
                         8.10.4. Strategic initiatives
                    8.11. Whirlpool Corporation
                         8.11.1. Company overview
                         8.11.2. Financial performance
                         8.11.3. Product benchmarking
                         8.11.4. Strategic initiatives
                    8.12. Tecumseh Products Company LLC.
                         8.12.1. Company overview
                         8.12.2. Financial performance
                         8.12.3. Product benchmarking
                         8.12.4. Strategic initiatives

List of Tables

Table 1 List of Abbreviation
Table 2 U.S. HVAC systems market - Industry snapshot & key buying criteria, 2015 - 2025
Table 3 List of key distributors and their presence
Table 4 List of key retailers and their websites
Table 5 List of key retailers and their websites
Table 6 Technology (Patent) and Description
Table 7 List of key manufacturers/exporters and their product models/categories & specifications
Table 8 Air conditioner market, 2015 - 2025 (USD Billion, Million Units)
Table 9 AC market, by type, 2015 - 2025 (USD Billion)
Table 10 AC market, by type, 2015 - 2025 (Million Units)
Table 11 AC market, by region, 2015 - 2025 (USD Billion)
Table 12 AC market, by region, 2015 - 2025 (Million Units)
Table 13 Heat pump market, 2015 - 2025 (USD Billion, Million Units)
Table 14 Heat pump market, by type, 2015 - 2025 (USD Billion)
Table 15 Heat pump market, by type, 2015 - 2025 (Million Units)
Table 16 Heat pump market, by region, 2015 - 2025 (USD Billion)
Table 17 U.S. heat pump market, by region, 2015 - 2025 (million Units)
Table 18 AC market, by technology, 2015 - 2025 (USD Billion)
Table 19 AC market, by technology, 2015 - 2025 (Million Units)
Table 20 Heat pump market, by technology, 2015 - 2025 (USD Billion)
Table 21 Heat pump market, by technology, 2015 - 2025 (Million Units)
Table 22 Residential market, 2015 - 2025 (USD Billion, Million Units)
Table 23 Residential market, by region, 2015 - 2025 (USD Billion)
Table 24 Residential market, by region, 2015 - 2025 (Million Units)
Table 25 Commercial market, 2015 - 2025 (USD Billion, Million Units)
Table 26 Commercial market, by region, 2015 - 2025 (USD Billion)
Table 27 Commercial market, by region, 2015 - 2025 (Million Units)
Table 28 Industrial market, 2015 - 2025 (USD Billion, Million Units)
Table 29 Industrial market, by region, 2015 - 2025 (USD Billion)
Table 30 Industrial market, by region, 2015 - 2025 (Million Units)
Table 31 U.S. HVAC systems market, 2015 - 2025 (USD Billion, Million Units)
Table 32 U.S. HVAC systems market, by product, 2015 - 2025 (USD Billion)
Table 33 U.S. HVAC systems market, by product, 2015 - 2025 (Million Units)
Table 34 U.S. AC market, by type, 2015 - 2025 (USD Billion)
Table 35 U.S. AC market, by type, 2015 - 2025 (Million Units)
Table 36 U.S. AC market, by technology, 2015 - 2025 (USD Billion)
Table 37 U.S. AC market, by technology, 2015 - 2025 (Million Units)
Table 38 U.S. heat pump market, by type, 2015 - 2025 (USD Billion)
Table 39 U.S. heat pump market, by type, 2015 - 2025 (Million Units)
Table 40 U.S. heat pump market, by technology, 2015 - 2025 (USD Billion)
Table 41 U.S. heat pump market, by technology, 2015 - 2025 (Million Units)
Table 42 U.S. HVAC systems market, by end-use, 2015 - 2025 (USD Billion)
Table 43 U.S. HVAC systems market, by end-use, 2015 - 2025 (Million Units)
Table 44 Northeast HVAC systems market, 2015 - 2025 (USD Billion, Million Units)
Table 45 Northeast HVAC systems market, by product, 2015 - 2025 (USD Billion)
Table 46 Northeast HVAC systems market, by product, 2015 - 2025 (Million Units)
Table 47 Northeast AC market, by type, 2015 - 2025 (USD Billion)
Table 48 Northeast AC market, by type, 2015 - 2025 (Million Units)
Table 49 Northeast AC market, by technology, 2015 - 2025 (USD Billion)
Table 50 Northeast AC market, by technology, 2015 - 2025 (Million Units)
Table 51 Northeast heat pump market, by type, 2015 - 2025 (USD Billion)
Table 52 Northeast heat pump market, by type, 2015 - 2025 (Million Units)
Table 53 Northeast heat pump market, by technology, 2015 - 2025 (USD Billion)
Table 54 Northeast heat pump market, by technology, 2015 - 2025 (Million Units)
Table 55 Northeast HVAC systems market, by end-use, 2015 - 2025 (USD Billion)
Table 56 Northeast HVAC systems market, by end-use, 2015 - 2025 (Million Units)
Table 57 Midwest HVAC systems market, 2015 - 2025 (USD Billion, Million Units)
Table 58 Midwest HVAC systems market, by product, 2015 - 2025 (USD Billion)
Table 59 Midwest HVAC systems market, by product, 2015 - 2025 (Million Units)
Table 60 Midwest AC market, by type, 2015 - 2025 (USD Billion)
Table 61 Midwest AC market, by type, 2015 - 2025 (Million Units)
Table 62 Midwest AC market, by technology, 2015 - 2025 (USD Billion)
Table 63 Midwest AC market, by technology, 2015 - 2025 (Million Units)
Table 64 Midwest heat pump market, by type, 2015 - 2025 (USD Billion)
Table 65 Midwest heat pump market, by type, 2015 - 2025 (Million Units)
Table 66 Midwest heat pump market, by technology, 2015 - 2025 (USD Billion)
Table 67 Midwest heat pump market, by technology, 2015 - 2025 (Million Units)
Table 68 Midwest HVAC systems market, by end-use, 2015 - 2025 (USD Billion)
Table 69 Midwest HVAC systems market, by end-use, 2015 - 2025 (Million Units)
Table 70 South HVAC systems market, 2015 - 2025 (USD Billion, Million Units)
Table 71 South HVAC systems market, by product, 2015 - 2025 (USD Billion)
Table 72 South HVAC systems market, by product, 2015 - 2025 (Million Units)
Table 73 South AC market, by type, 2015 - 2025 (USD Billion)
Table 74 South AC market, by type, 2015 - 2025 (Million Units)
Table 75 South AC market, by technology, 2015 - 2025 (USD Billion)
Table 76 South AC market, by technology, 2015 - 2025 (Million Units)
Table 77 South heat pump market, by type, 2015 - 2025 (USD Billion)
Table 78 South heat pump market, by type, 2015 - 2025 (Million Units)
Table 79 South heat pump market, by technology, 2015 - 2025 (USD Billion)
Table 80 South heat pump market, by technology, 2015 - 2025 (Million Units)
Table 81 South HVAC systems market, by end-use, 2015 - 2025 (USD Billion)
Table 82 South HVAC systems market, by end-use, 2015 - 2025 (Million Units)
Table 83 West HVAC systems market, 2015 - 2025 (USD Billion, Million Units)
Table 84 West HVAC systems market, by product, 2015 - 2025 (USD Billion)
Table 85 West HVAC systems market, by product, 2015 - 2025 (Million Units)
Table 86 West AC market, by type, 2015 - 2025 (USD Billion)
Table 87 West AC market, by type, 2015 - 2025 (Million Units)
Table 88 West AC market, by technology, 2015 - 2025 (USD Billion)
Table 89 West AC market, by technology, 2015 - 2025 (Million Units)
Table 90 West heat pump market, by type, 2015 - 2025 (USD Billion)
Table 91 West heat pump market, by type, 2015 - 2025 (Million Units)
Table 92 West heat pump market, by technology, 2015 - 2025 (USD Billion)
Table 93 West heat pump market, by technology, 2015 - 2025 (Million Units)
Table 94 West HVAC systems market, by end-use, 2015 - 2025 (USD Billion)
Table 95 West HVAC systems market, by end-use, 2015 - 2025 (Million Units)

List of Figures

Fig. 1 U.S. HVAC systems market segmentation
Fig. 2 Market size and growth prospects, 2015 to 2025 (USD Billion, Million Units)
Fig. 3 Value chain analysis
Fig. 4 U.S. HVAC systems market dynamics
Fig. 5 U.S. HVAC systems market driver impact
Fig. 6 U.S. Construction Sector Spending (Value in USD billion) by application, 2010 - 2018
Fig. 7 U.S. HVAC systems market challenge impact
Fig. 8 U.S. HVAC systems market opportunity impact
Fig. 9 U.S. GDP Per Capita, 2010 - 2025 (In USD)
Fig. 10 U.S. Industrial Production Index (2010-2019)
Fig. 11 U.S. HVAC systems penetration & growth prospects mapping
Fig. 12 U.S. HVAC systems - Porter's five forces
Fig. 13 U.S. HVAC systems market - PESTEL analysis
Fig. 14 Air conditioners- Total U.S. imports value by key countries, 2018 (%)
Fig. 15 Heat pumps- Total U.S. imports value by key countries, 2018 (%)
Fig. 16 U.S. HVAC systems market, by product, 2018 & 2025 (USD Billion)
Fig. 17 U.S. AC market, by technology, 2018 & 2025 (USD Billion)
Fig. 18 U.S. heat pump market, by technology, 2018 & 2025 (USD Billion)
Fig. 19 U.S. HVAC systems market, by end-use, 2018 & 2025 (USD Billion)
Fig. 20 U.S. HVAC systems market, By Region, 2018 & 2025

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