HVAC Systems Industry Data Book Covers U.S. HVAC Systems, U.S. HVAC Controls Systems, Heating Equipment, Heat Pump, Chillers, Cooling Towers, Dehumidifier, Air Purifiers Markets.
The economic value generated by the HVAC systems markets was estimated at approximately USD 136 billion in 2021.
U.S. HVAC Systems Market Report Highlights
The U.S. HVAC systems market size was valued at USD 16.54 billion in 2021, and it is anticipated to reach USD 26.93 billion by 2030, registering a CAGR of 5.6% CAGR (2022-2030).
- The cooling segment captured the highest revenue share of over 50% in 2021 and is expected to continue growing over the forecast period due to the high demand for ACs
- The growing real estate sector in the U.S. with the expansion of commercial facilities, such as hotels, restaurants, offices, malls, etc., is expected to drive the demand for HVAC systems in the commercial sector
- The western region of the U.S. recorded the fastest growth while also capturing the largest market share in 2021. A large population is a major factor that contributed to the segment growth in the same year
- RD remains the key focus area for most companies, which will essentially help them offer feature-rich products to the changing consumer demands, particularly in the residential space
Heat Pump Market Report Highlights
The global heat pump market size was estimated at USD 67.7 billion in 2021, and it is anticipated to reach USD 136.84 billion by 2030. The market is expected to expand at a CAGR of 8.1% from 2022 to 2030.
- The air source technology segment has contributed to 81.1% of the global revenue share in 2021 due to their high efficiency, low carbon emissions, and increased demand in residential and commercial buildings
- The penetration of heat pumps in the industrial sector is expected to witness a CAGR of 7.8% from 2022 to 2030 due to the growing demand for industrial heating and cooling
- Geothermal technology in Europe is foreseen to witness an increase in demand at the CAGR 9.9%, owing to the need for switching to low-cost energy substitutes because of the increasing oil prices
- The heat pump demand in Japan is likely to expand at a CAGR of 9.3% over the forecast period on account of the increased demand for energy-efficient and eco-friendly air conditioning
Access the Global HVAC Systems Industry Data Book, 2022 to 2030, compiled with details like market sizing information forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory technological framework studies
Dehumidifier Market Report Highlights
The global dehumidifier market size was estimated at USD 2.91 billion in 2021, and it is expected to reach USD 5.13 billion by 2030, registering a CAGR of 6.8% CAGR (2022-2030).
- The desiccant dehumidifier segment accounted for a 56.2% market share in 2021 attributed to the wide application in industrial manufacturing, commercial building, and residential places
- Portable dehumidifier segment is anticipated to grow at a significant CAGR of 7.1% during the forecast period. The rising product awareness among the masses and rising demand from the residential commercial sector is driving the market
- Industrial segment accounted for 45.5% of the market share in 2021 owing to the extensive use of dehumidifiers in warehousing storage, printing, water treatment, and the manufacturing industry
- Asia Pacific is anticipated to witness significant growth of a CAGR of 7.3% during the forecast period. This is attributed to the increasing product awareness, growth of the industrial sector, and rising health consciousness among consumers
- In August 2022, DryGair Energies Ltd., Israel based manufacturer of dehumidification solutions, announced a distribution agreement with RMJ Supply. The company will distribute DryGair dehumidifiers, developed for greenhouses; grow rooms, nurseries, etc.
Air Purifier Market Report Highlights
The global air purifier market size was estimated at USD 13.97 billion in 2022, and it is anticipated to reach USD 25.97 billion by 2030. The market is expected to expand at a CAGR of 8.1% CAGR (2022-2030).
- The HEPA technology segment held the largest revenue share of over 40.0% in 2021 owing to the high efficiency of HEPA filters in removing airborne particles as compared to other technologies, thereby augmenting its penetration in the market
- The commercial application segment is expected to witness significant growth from 2022 to 2030 on account of the growing demand for air purifiers in hospitals, universities, and government facilities amidst the COVID-19 pandemic
- In the APAC market, Malaysia is likely to expand at a significant CAGR of 12.7% over the forecast period on account of worsening air quality due to urbanization and seasonal haze, coupled with the increasing health awareness and a growing emphasis on good indoor air quality
- In September 2020, MANN+HUMMEL introduced two new high-performance room air purifiers, namely OurAir TK 850, which is suitable for filtering the air in indoor spaces of up to 70 m², and the OurAir SQ 2500, which is ideal for spaces up to 200 m²
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Competitive Landscape
Key players operating in the HVAC systems industry are –
- Carrier
- Daikin Industries, Ltd.
- Emerson Electric Co
- Haier Group
- Johnson Controls
- LG Electronics
- Lennox International
- Mitsubishi Electric Corporation
- Rheem Manufacturing Company
- Trane Technologies plc.
Grand View Research’s HVAC Systems data book is a collection of market sizing information forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook report and summary presentations on individual areas of research.
Go through the table of content of HVAC Systems Industry Data Book to get a better understanding of the Coverage Scope of the study
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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