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

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Summary

Report Description

United States Commercial HVAC Market is anticipated to project robust growth in the forecast period on account of increasing use of office space, developing new commercial infrastructure, and product innovation, etc. In the next five years, the government's emphasis on updating and building new commercial infrastructure and technology advancements in HVAC systems which will contribute to market growth in the United States.

Moreover, factors such as extreme climatic conditions, expanding construction activities, increased demand for office space in the nation, and increased availability of highly efficient equipment are some of the reasons driving the market's expansion. The growing need for energy-efficient systems is another significant factor driving the commercial HVAC industry. This industry is expanding due to the preferential shift toward environmentally friendly technology brought on by rising environmental consciousness.

Furthermore, major commercial HVAC companies are opting various strategies such as merger, acquisitions, partnerships, etc. to expand their services. For instance, in 2022, Carrier signed agreement to acquire Toshiba's global VRF and light commercial HVAC business to strengthen its position in one of the fastest-growing HVAC segments. Carrier's acquisition includes all TCC's innovative research & development facilities, worldwide production facilities, product pipeline, and the long-term use of Toshiba's brand.

Also, market players are emphasizing on spreading information regarding the commercial HVAC products to enhance their consumer base. For instance, in 2022, Yanmar America participated in the Georgia Association of State Facilities Administrators' fall conference. The annual event brings together Georgia State facilities managers for intensive workshops, educational sessions, and a trade show. The participation in the conference was focused on discussing the company's Variable Refrigerant Flow (VRF) gas heat pump air conditioning systems.

Additionally, companies have been focusing on expanding their manufacturing and production services to boost their market share. For instance, in 2022, Modine announced full scale production of chillers for the data center market at their new production facility in Virginia, and additionally confirmed a substantial order with data center company, Corscale, with prospects for further business in the coming months.

Growing Demand for Building Automation and Control Systems Fueling the Market Growth

The security, mechanical, HVAC, and humidity control systems were all designed to be controlled and monitored by the building automation system. Total control over the structure and autonomous facilities is the main objective of constructing an automation system. The market for building automation systems is expanding due to increased preference for smart and environment friendly structures among consumers, which is boosting the need for HVAC systems.

New Product Launches by Market Players Aiding the Market Growth

To cater the increasing demand, commercial HVAC market players are launching new products and expanding their product portfolio in United States. For instance, in 2022, GE Appliances exhibited a new division at the 2022 AHR Expo. The new product division includes gas furnaces, packaged units, air conditioners, heat pumps, air handlers, and evaporator coils. These factors are anticipated to further boost the market growth during the forecast period at the country level.


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Booming Commercial Sector Boosting Market Growth

The construction industry is a key driver of rising demand for HVAC systems. The need for HVAC systems has expanded along with the construction of commercial buildings, fueling the expansion of the commercial HVAC market in the United States. The need for HVAC is anticipated to increase in the upcoming years due to the continued building of malls, schools, metros, airports, supermarkets, retail centers, and other structures around the nation. Several significant manufacturers are projected to expand their operations and manufacturing facilities in the United States over the course of the forecast period as commercial sector construction rises.

Market Segmentation

The United States Commercial HVAC Market is segmented based on product type, end user, sales channel, region, and competitional 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. Based on end user, the market is segmented into industries, institutional, commercial real estate, HORECA, and others such as data centers, cold storages, etc. Based on sales channels, the market is segmented into distributor/dealer and institutional sales. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among South, West, Midwest, and Northeast.

Company Profiles

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, and Danfoss LLC are among the major market players that lead the market growth of the United States Commercial HVAC Market.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion, and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

Product Type

End User

Sales Channel

Region

Regional Scope

South, West, Midwest, Northeast

Key Companies Profiled

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

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, the United States commercial HVAC market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • United States Commercial HVAC Market, By Product Type:
    • Chillers
    • Cooling Towers
    • Air Handling Units
    • VRF
    • Heat Pumps
    • Others
  • United States Commercial HVAC Market, By End User:
    • Industries
    • Institutional
    • Commercial Real Estate
    • HORECA
    • Others
  • United States Commercial HVAC Market, By Sales Channel:
    • Distributor/Dealer
    • Institutional Sales
  • United States Commercial HVAC Market, By Region:
    • South
    • West
    • Mid-West
    • North-East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the United States commercial HVAC market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

United States Commercial HVAC Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary      

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer Analysis

4.1.  Brand Awareness

4.2.  Factors Influencing Purchase Decision

4.3.  Challenges Faced

5.    United States Commercial HVAC Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Product Type Market Share Analysis (Chillers, Cooling Towers, Air Handling Units, VRF, Heat Pumps, Others (HVAC Control Systems, Boilers, Ductable Splits, etc.))

5.2.2.    By End User Market Share Analysis (Industries, Institutional, Commercial Real Estate, HORECA, Others (Data Centers, Cold Storages, etc.))

5.2.3.    By Sales Channel Market Share Analysis (Distributor/Dealer, Institutional Sales)

5.2.4.    By Regional Market Share Analysis

5.2.4.1.        South Market Share Analysis

5.2.4.2.        West Market Share Analysis

5.2.4.3.        Mid-West Market Share Analysis

5.2.4.4.        North-East Market Share Analysis

5.2.5.    By Top 5 Companies Market Share Analysis, Others (2022)

5.3.  United States Commercial HVAC Market Mapping & Opportunity Assessment

5.3.1.    By Product Type Market Mapping & Opportunity Assessment

5.3.2.    By End User Market Mapping & Opportunity Assessment

5.3.3.    By Sales Channel Market Mapping & Opportunity Assessment

5.3.4.    By Regional Market Mapping & Opportunity Assessment

6.    United States Chillers HVAC Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By End User Market Share Analysis

6.2.2.    By Sales Channel Market Share Analysis

7.    United States Cooling Towers HVAC Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By End User Market Share Analysis

7.2.2.    By Sales Channel Market Share Analysis

8.    United States Air Handling Units HVAC Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By End User Market Share Analysis

8.2.2.    By Sales Channel Market Share Analysis

9.    United States VRF HVAC Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By End User Market Share Analysis

9.2.2.    By Sales Channel Market Share Analysis

10. United States Heat Pumps HVAC Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By End User Market Share Analysis

10.2.2. By Sales Channel Market Share Analysis

11. Market Dynamics

11.1.             Drivers

11.1.1. New Product Launches by Market Players

11.1.2. Rising Building Automation and Control Systems Market

11.1.3. Increasing Demand for HVAC Sensor-based System

11.2.             Challenges

11.2.1. Strict Regulations

11.2.2. High Operating Cost

12. Impact of COVID-19 on United States Commercial HVAC Market

12.1.             Impact Assessment Model   

12.1.1. Key Segments Impacted

12.1.2. Key Regions Impacted

12.1.3. Key Sales Channel Impacted

13. Market Trends & Developments

13.1.             Growing Smart HVAC

13.2.             Government Initiatives

13.3.             Increasing Demand for Energy Efficient Products

13.4.             Growing Marketing Campaigns by Companies

13.5.             Rising Construction Rate

14. Import & Export Analysis

14.1.             Top 5 Exporting Countries

14.1.1. By Value

14.2.             Top 5 Importing Countries

14.2.1. By Value

15. Porter’s Five Forces Model

15.1.             Competitive Rivalry

15.2.             Bargaining Power of Buyers

15.3.             Bargaining Power of Suppliers

15.4.             Threat of New Entrants

15.5.             Threat of Substitutes

16. SWOT Analysis

16.1.             Strengths

16.2.             Weaknesses

16.3.             Opportunities

16.4.             Threats

17. Policy & Regulatory Landscape

18. United States Economic Profile

19. Competitive Landscape

19.1.             Company Profiles

19.1.1. Daikin North America LLC

19.1.1.1.     Company Details

19.1.1.2.     Product & Services

19.1.1.3.     Financials (As Per Availability)

19.1.1.4.     Key Market Focus & Geographical Presence

19.1.1.5.     Recent Developments

19.1.1.6.     Key Management Personnel

19.1.2. Carrier Global Corporation

19.1.2.1.     Company Details

19.1.2.2.     Product & Services

19.1.2.3.     Financials (As Per Availability)

19.1.2.4.     Key Market Focus & Geographical Presence

19.1.2.5.     Recent Developments

19.1.2.6.     Key Management Personnel

19.1.3. Mitsubishi Electric Trane HVAC US LLC (METUS)

19.1.3.1.     Company Details

19.1.3.2.     Product & Services

19.1.3.3.     Financials (As Per Availability)

19.1.3.4.     Key Market Focus & Geographical Presence

19.1.3.5.     Recent Developments

19.1.3.6.     Key Management Personnel

19.1.4. Johnson Controls, Inc

19.1.4.1.     Company Details

19.1.4.2.     Product & Services

19.1.4.3.     Financials (As Per Availability)

19.1.4.4.     Key Market Focus & Geographical Presence

19.1.4.5.     Recent Developments

19.1.4.6.     Key Management Personnel

19.1.5. Lennox International Inc

19.1.5.1.     Company Details

19.1.5.2.     Product & Services

19.1.5.3.     Financials (As Per Availability)

19.1.5.4.     Key Market Focus & Geographical Presence

19.1.5.5.     Recent Developments

19.1.5.6.     Key Management Personnel

19.1.6. Nortek Global HVAC LLC

19.1.6.1.     Company Details

19.1.6.2.     Product & Services

19.1.6.3.     Financials (As Per Availability)

19.1.6.4.     Key Market Focus & Geographical Presence

19.1.6.5.     Recent Developments

19.1.6.6.     Key Management Personnel

19.1.7. LG Electronics USA, Inc.

19.1.7.1.     Company Details

19.1.7.2.     Product & Services

19.1.7.3.     Financials (As Per Availability)

19.1.7.4.     Key Market Focus & Geographical Presence

19.1.7.5.     Recent Developments

19.1.7.6.     Key Management Personnel

19.1.8. Samsung HVAC America, LLC

19.1.8.1.     Company Details

19.1.8.2.     Product & Services

19.1.8.3.     Financials (As Per Availability)

19.1.8.4.     Key Market Focus & Geographical Presence

19.1.8.5.     Recent Developments

19.1.8.6.     Key Management Personnel

19.1.9. Rheem Manufacturing Company

19.1.9.1.     Company Details

19.1.9.2.     Product & Services

19.1.9.3.     Financials (As Per Availability)

19.1.9.4.     Key Market Focus & Geographical Presence

19.1.9.5.     Recent Developments

19.1.9.6.     Key Management Personnel

19.1.10. Danfoss LLC

19.1.10.1.  Company Details

19.1.10.2.  Product & Services

19.1.10.3.  Financials (As Per Availability)

19.1.10.4.  Key Market Focus & Geographical Presence

19.1.10.5.  Recent Developments

19.1.10.6.  Key Management Personnel

20. Strategic Recommendations/Action Plan

20.1.             Key Focus Areas

20.2.             Target Product Type

20.3.             Target Sales Channel

21. About Us & Disclaimer

 (Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

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A refrigerant is used as the heating and cooling component in a variable refrigerant volume (VRV) or variable refrigerant flow (VRF) system. Given that it includes a single condenser which can be used for several evaporators, this system is the optimum choice for use in medium- or large-sized commercial buildings.

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Anything involved with heating and cooling large premises, including office buildings, restaurants, rental properties, hospitals, schools, and more, is referred to as commercial HVAC. Commercial HVAC is vastly different from domestic HVAC in terms of size, capacity, and operational complexity due to the scale.

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Future HVAC systems will incorporate innovations like increased solar energy, geothermal heat pumps, smart thermostats, and ice-powered air conditioning to decrease their energy consumption and overall environmental effect.

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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, are some of the top companies offering best commercial HVAC products.

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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 Commerci

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