North America HVAC Market to Cross $44 Billion by 2022: TechSci Research Report

Integration of IoT technology with HVAC systems, growing demand for energy-efficient devices, expanding building automation and control system market to drive North America HVAC market through 2022.

New York, NY, April 29, 2017 --( According to TechSci Research report, “North America HVAC Market By Category, By End Use Sector, By Country Competition Forecast & Opportunities, 2012 – 2022,” HVAC market in North America is projected to reach $44 billion by 2022. Increasing application of HVAC systems in residential, commercial and industrial sectors is bolstering demand for HVAC systems in the region. In 2016, construction spending in the US stood at around USD1.14 trillion, which is further expected to increase to USD1.69 trillion by 2022. Expanding construction sector is one of the major demand generating end users for HVAC systems in North America. Market for HVAC systems in the region is also expected to witness tremendous growth on account of integration of connected devices with HVAC systems in the residential space. In addition, the number of smart homes in North America, which were estimated to be 19.24 million units in 2016, is projected to reach 53.94 million units by 2022. Consequently, construction of new residential and commercial spaces across the region, is expected to propel installation of HVAC systems in the coming years.

Browse 2 market data Tables and 44 Figures spread through 100 Pages and an in-depth TOC on "North America HVAC Market":

In 2016, UTC, Daikin, Ingersoll- Rand, Johnson Controls and Lennox International were some of the leading players operating in North America HVAC market, and these companies are expected to maintain their dominance by the end of the forecast period. Moreover, an increasing number of companies have started offering HVAC systems with higher energy efficiency, green technology and compatibility with smart devices. Market for HVAC systems in North America can be broadly categorized into direct expansion HVAC systems and central HVAC systems, of which direct expansion HVAC systems dominated the market in 2016, on account of these systems occupying less space and being cheaper than centralized cooling systems.

“Rising construction activities, expanding industrial base, implementation of stringent government rules regarding using of power, and improving standard of living are anticipated to drive HVAC systems market in North America through 2022. Various HVAC manufacturers in North America are increasing their focus on manufacturing HVAC systems that are easy to use, more energy efficient and eco-friendly. Moreover, with integration of IoT technology with HVAC systems, consumers can now analyze consumption of power effectively and work on efficient usage of the same, which is also expected to drive HVAC adoption in the coming years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“North America HVAC Market By Category, By End Use Sector, By Country Competition Forecast & Opportunities, 2012 – 2022” has evaluated the future growth potential of HVAC systems market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the North America HVAC market.

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