HVAC Systems Industry is Expected to Witness Remarkable Growth at a CAGR in the Upcoming years

HVAC Systems Industry Data Book - U.S. HVAC Systems, U.S. HVAC Controls Systems, Heating Equipment, Heat Pump, Chillers, Cooling Towers, Dehumidifier, Air Purifiers Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030

The economic value generated by the HVAC systems market was estimated at approximately USD 136 billion in 2021. Increasing employee health and safety awareness, combined with rising industrial deaths in emerging economies due to a shortage of protective equipment, is likely to fuel market expansion throughout the forecast period. 

HVAC Systems Industry Data Book Coverage -

HVAC Systems Industry Data Book Coverage Snapshot

Access the Global HVAC Systems Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies.

U.S. HVAC Systems Market Growth & Trends

The U.S. HVAC systems market size is anticipated to reach USD 26.93 billion by 2030, registering a CAGR of 5.6% over the forecast period, according to a new study by Grand View Research, Inc. Diverse and changing climatic conditions across the U.S. remain the prime factor favoring the HVAC equipment demand. Furthermore, to this the U.S. is a large country in terms of a geographic area as such the weather changes from extreme cold to extreme hot throughout the year across states, cities, or coasts, making HVAC installation in residential spaces a mandate. The need to control building temperature irrespective of the outdoor conditions helps the HVAC business thrive in the country. From the supply-side, stringent norms by regulatory bodies in the country to lower power consumption and carbon emission will play a key role in driving the market growth.

Consumers in recent times are becoming aware of severe threats associated with global warming and hence demand energy-efficient products that keep Greenhouse Gas (GHG) emissions at bay. To further help consumers make informed decisions, the U.S. government offers several tax credit programs that reward consumers who adopt products promoting high energy savings. For this purpose, the Energy Star Program came forth, which essentially aims at giving ratings based on product performance and energy savings. Cut-throat competition in the U.S. market is predominantly because of the strong presence of well-established HVAC vendors in the country.

Heat Pump Market Growth & Trends

The global heat pump market size is anticipated to reach USD 136.84 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.1% from 2022 to 2030. The market is primarily driven by the increasing prices for non-renewable energy sources and various government initiatives to boost the use of energy-efficient renewable energy sources.

These products are employed in both heating and cooling applications, which is achieved by transferring thermal energy in the form of heat; they can be used as a heater in winter and air conditioner in the summer. In addition, these products help reduce carbon emission thereby lowering the greenhouse gas emission and aiding in increasing the air quality.

The increased demand for air conditioning due to the growth of the housing sector and commercial establishments along with the government subsidies for increasing energy efficiency and reducing the carbon footprint have boosted the demand for these products. Furthermore, the demand has increased in residential facilities due to their cost-effective air conditioning.

As the government bodies of various countries are trying to implement energy conservation policies due to their high energy efficiency and low carbon emissions. The U.K. government has come up with energy efficiency offices to coordinate, monitor, and develop energy conservation policies as their energy efficiency strategy.

Order your copy of the Free Sample of “HVAC Systems Industry Data Book - U.S. HVAC Systems, U.S. HVAC Controls Systems, Heating Equipment, Heat Pump, Chillers, Cooling Towers, Dehumidifier, Air Purifiers Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Dehumidifier Market Growth &Trends

The global dehumidifier market is expected to reach USD 5.13 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 6.8% during the forecast period, according to a new report by Grand View Research, Inc. dehumidifier market growth is significantly driven by increasing applications for the improvement of indoor air quality for the residential, commercial, and industrial purposes.

Growth in the number of hotels, restaurants, and cafes is expected to propel the global dehumidifier market. Changing consumer lifestyles and rising café culture are the factors driving the HoReCa industry across the world. The demand for dehumidifiers for such commercial businesses to keep the air fresh and prevent the formation of mold and fungus is expected to grow during the forecast period.

Additionally, dehumidifiers are also used to reduce the humidity and moisture control in the manufacturing of lithium-ion batteries. Relative humidity which needs to be as low as 1.0% to 10.0% is the most crucial and important factor governing the manufacturing process. Demand for electric vehicles is propelling the manufacturing of lithium-ion batteries and is expected to drive the dehumidifier market growth.

Moreover, rising demand for water and wastewater treatment plants is expected to drive the growth of the dehumidifier market. Dehumidifiers are used in waste and fresh water treatment facilities to prevent corrosion of the equipment. Growing concern about the scarcity of water is expected to drive the water treatment facilities and also propel the demand for dehumidifiers.

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 Industry data book is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

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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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