IRVING, Texas, April 28, 2017 /PRNewswire/ -- According to a new market report published by Lucintel, the future of the US HVAC (heating, ventilation and air conditioning) equipment market looks good with opportunities in the residential and commercial construction industry. The US HVAC equipment market is expected to reach an estimated $17.5 billion by 2022 and it is forecast to grow at a CAGR of 3.4% from 2017 to 2022. The major drivers of growth are higher rate of building renovation and federal tax credits offered in the US to make existing facilities energy efficient and to control greenhouse gas emissions.
Browse 31 market data tables and 63 figures spread through 131 pages and in-depth TOC on "US HVAC Equipment Market"
Within the US HVAC equipment market, residential is expected to remain the largest segment during the forecast period.
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Emerging trends, which have a direct impact on the dynamics of the market, include the increasing usage of green HVAC, increasing usage of air purification technology, and increasing usage of smart thermostat. Lennox, Johnson Controls Inc., Daikin Industries, Ingersoll Rand Plc, and UTC (United Technology and Corporation) are the major manufacturers of the HVAC equipment in the US.
The study includes a forecast for the US HVAC equipment market by product type, and end use as follows:
US HVAC equipment market by product type [Volume (M units) and Value ($ million) from 2011 to 2022]:
- Heat Pump
- Central AC
- Room AC
US HVAC equipment market by end use [Volume (M units) and Value ($ million) from 2011 to 2022]:
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