In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this U.S. HVAC Market Report
The U.S. HVAC market by revenue is expected to grow at a CAGR of approx. 4% during the period 2019-2025.
The U.S. HVAC industry is majorly influenced by the growth and innovations in construction technology and building designs. The increasing installation of heating, ventilation, and air conditioning (HVAC) equipment in residential and commercial building constructions is a significant factor influencing the market U.S. HVAC market growth.
The rise in regular services and maintenance of HVAC systems is another major influential driver that fuels the growth in demand across the country with a consistent growth rate. Growth in smart technologies and IoT-based operations in electronic consumer goods are likely to uplift the growth and popularity in the United States market. The increased emphasis on green energy, its delivery, and usage provides growth avenues to key players for developing and launching solar-powered HVAC systems.
The United States is one of the adversely affected countries in terms of the number of infected patients and economic slowdown due to the COVID-19 pandemic. Therefore, several large established players in the market are experiencing high losses due to lag in the supply chain and shipment of products. Although a few states in the United States have managed to contain the spread of COVID-19, the impact on the U.S. HVAC market is expected to be felt as vendors depend on raw material procurement from neighboring countries.
Insights by Vendors
The U.S. HVAC market share is highly competitive and characterized by a number of small and medium-scale players along with several established manufacturers. Although the prevalence of small-scale players in the market has been high, major global manufacturers account for a dominant share with well-established supply chain networks. The majority of players in the U.S. HVAC market are focusing on expanding their customer base and business operations across the country.
The prominent vendors in the market include Daikin Industries, Lennox International, Mitsubishi Electric, Johnson Controls, Zehnder, Danfoss, Ingersoll Rand, Carrier, and Honeywell. These established companies are leveraging strategic collaborations and innovative initiatives to increase their profitability and market share. Increasingly in recent years, the companies operating in the market are also acquiring start-ups that apply state of the art technologies in HVAC systems to strengthen their product capabilities.
Key Questions Answered
1. What is the U.S. HVAC market size and growth rate during the forecast period? 2. What are the factors impacting the growth of the U.S. HVAC market share? 3. What are the drivers, trends, and restraints in the U.S. HVAC market? 4. Who are the leading vendors in the U.S. HVAC market, and what are their market shares? 5. What is the impact of the COVID-19 pandemic on the U.S. HVAC market share?
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage 4.1 Market Definition 4.2 Base Year 4.3 Scope Of The Study
8 Market Opportunities & Trends 8.1 Smart HVAC Becoming the New Norm 8.2 Systems Go Ductless 8.3 Zoning into Zoning 8.4 Conducive Environment for Contractors
9 Market Growth Enablers 9.1 Energy Economy Spawns Upgrades 9.2 Renewed Focus on Comfort, Functionality, and Health 9.3 Home Improvement Cycles and Housing Boom 9.4 Climbing Climate Emergencies and Shifting weather patterns
10 Market Restraints 10.1 Phasedowns, Standards, and Regulations in Constant Flux 10.2 Intractable Data Security Issues 10.3 Inadequate Workforce 10.4 Lack of Sufficient Disruption