Rising Construction Rate to Boost the United States Commercial HVAC Market Growth During the Forecast Period
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.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on the "United States Commercial HVAC Market"
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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