North America HVAC Market to Cross $44 Billion by 2022
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
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.
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Tables and 44 Figures spread through 100 Pages and an in-depth TOC on " North America HVAC
Market"
https://www.techsciresearch.com/report/north-america-hvac-market-by-category-direct-expansion-and-central-hvac-systems-by-end-use-sector-commercial-residential-and-industrial-by-country-united-states-mexico-canada-etc-competition-forecast-opportunities/952.html
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.
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“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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