Rising demand for energy efficient systems, increasing demand from hospitality sector, and booming penetration of Variable Refrigerant Flows are the leading factors driving the United States Commercial HVAC Market during the projected period.
According to TechSci Research report, “United States Commercial HVAC Market – By Region, Competition, Forecast & Opportunities, 2018-2028F”, The increased availability of highly efficient equipment, rising construction activities in the country, and extreme climatic conditions are some of the factors fueling the overall sales of this market on the United States level. The technology of heating, ventilation, and air conditioning (HVAC) is used to provide a suitable indoor space with satisfactory indoor air quality and thermal comfort. Hotels, offices, industrial buildings, and other commercial establishments are believed to depend heavily on HVAC systems. The primary function of HVAC system is to offer thermal comfort and improved indoor air quality. HVAC systems keep the air pressure, space, and ventilation in the building in a healthy balance while also enhancing air filtering.
Moreover, factors such as industrialization are fueling the expansion of the commercial HVAC market in the United States and are anticipated to do so over the next five years. The demand for heating, ventilation, and air conditioning systems in commercial buildings and corporate offices is expected to rise over the next five years, contributing to the market’s expansion. In addition, the United States government is making efforts to support sustainability and green technology use, such as by outlawing and gradually phasing out dangerous refrigerants. These aspects are expected to boost the growth of the commercial HVAC market in the country.
In the coming years, additional benefits including remote access, green energy modules, and the adoption of modern technologies to improve system performance will also help the commercial HVAC industry in the United States flourish. The government supports the development of the commercial HVAC system in the United States in the forecast years through 2027 by providing favorable initiatives and launching strategies for the modern technology HVAC system, which utilizes natural refrigerants like carbon dioxide.
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United States commercial HVAC market is segmented based on product type, end user, sales channel, region, and competition landscape. Based on product type, the market is further fragmented into chillers, cooling towers, air handling units, VRF, heat pumps, and others like HVAC control systems, boilers, ductable splits, etc. Air handling units are anticipated to grow at a significant rate due to growing concerns about environmental degradation, which affects air quality. Reconditioning the outside air, keeping track of temperature and moisture content, and delivering it within the building carried out by air handling equipment. The need for air handling units is rising quickly due to increased industrialization and numerous activities that produce pollution on a massive scale. The COVID-19 pandemic issue contributes to the overall expansion of this market. The need for virus-free indoor air increased, which will likely continue to drive the commercial HVAC industry in the United States in the forecast period.
The market is further divided into institutional sales and distributors/dealers based on the sales channel. Due to the availability of different brands, distributors or dealers are predicted to hold the largest revenue share in the market which dominate the market sector in the future years.
Key market players in the United States commercial HVAC market include:
- 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
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“The United States commercial HVAC market has been observing significant growth over the past few years. Growing consumer awareness of the effects of environmental degradation, the adoption of green energy models, and the installation of energy-efficient equipment, all contribute to the growth of the commercial HVAC market in the United States. Also, to promote sustainability and the usage of green technologies, the government is also taking steps such as banning and phasing out hazardous refrigerants. Furthermore, the growth of the market is anticipated to be fueled by expansion of production facilities in the country. Also, it is anticipated that the number of commercial HVAC market competitors will increase, and the country will become more globally integrated over 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 (HVAC Control Systems, Boilers, Ductable Splits, etc.)), By End User (Industries, Institutional, Commercial Real Estate, HORECA, Others (Data Centers, Cold Storages, etc.)), By Sales Channel (Distributor/Dealer, Institutional Sales), By Region, Competition Forecast Opportunities, 2018-2028F”, has evaluated the future growth potential of commercial HVAC and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide innovative 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 present in commercial HVAC United States.
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