North America Hvac Systems Market Size & Outlook
North America hvac systems market, 2018-2030 (US$M)
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North America hvac systems market highlights
- The North America hvac systems market generated a revenue of USD 37,214.5 million in 2023.
- The market is expected to grow at a CAGR of 7.1% from 2024 to 2030.
- In terms of segment, heat pump was the largest revenue generating equipment in 2023.
- Heat Pump is the most lucrative equipment segment registering the fastest growth during the forecast period.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 37,214.5 million |
| Market revenue in 2030 | USD 60,149.8 million |
| Growth rate | 7.1% (CAGR from 2023 to 2030) |
| Largest segment | Heat pump |
| Fastest growing segment | Heat Pump |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Heat Pump, Furnace, Unitary Heaters, Boilers, Air Purifier, Dehumidifier, Air Handling Units, Ventilation Fans, Air Conditioning, Chillers, Cooling Towers |
| Key market players worldwide | Carrier Global Corp Ordinary Shares, Daikin Industries Ltd, Fujitsu Ltd, Haier, Hitachi Ltd, Johnson Controls International PLC, LG Electronics Inc ADR, Lennox International Inc, Mitsubishi Electric Corp, Samsung Electronics Co Ltd, Trane Technologies PLC Class A |
Other key industry trends
- In terms of revenue, North America region accounted for 15.9% of the global hvac systems market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 185,553.2 million by 2030.
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HVAC Systems Market Scope
HVAC Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
North America hvac systems market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to hvac systems market will help companies and investors design strategic landscapes.
Heat pump was the largest segment with a revenue share of 44.55% in 2023. Horizon Databook has segmented the North America hvac systems market based on heat pump, furnace, unitary heaters, boilers, air purifier, dehumidifier, air handling units, ventilation fans, air conditioning, chillers, cooling towers covering the revenue growth of each sub-segment from 2018 to 2030.
North America, led by the U.S., Canada, and Mexico accounted for a significant share in terms of revenue of the HVAC systems market in 2022. The growth of the market in this region can be attributed to the expansion of urban areas, the presence of industrially developed countries, and the stringent implementation of rules and regulations related to HVAC system installations in North America.
Moreover, with the rapid growth of the real estate sector owing to the rise in requirements for residential and commercial buildings and the introduction of Green Building Certification in the U.S., the market of HVAC systems is expected to flourish over the forecast period in North America.
HVAC systems help maintain the optimum temperature, humidity, and air quality in the industrial, commercial, and residential spaces for the safety of individuals and the smooth conduct of different industrial processes.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America hvac systems market , including forecasts for subscribers. This continent databook contains high-level insights into North America hvac systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America hvac systems market size, by country, 2018-2030 (US$M)
North America HVAC Systems Market Outlook Share, 2023 & 2030 (US$M)
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