North America HVAC Market Summary, Competitive Analysis and Forecast to 2029
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HVAC in North America industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
– HVAC stands for heating, ventilation, and air conditioning. It refers to the mechanisms that control and distribute heated and cooled air in residential, industrial, and commercial structures, including workplaces, residences, and indoor stadiums.
– The North American HVAC market recorded revenues of $53.1 billion in 2024, representing a compound annual growth rate (CAGR) of 3.5% between 2019 and 2024.
– The commercial segment accounted for the market's largest proportion in 2024, with total revenues of $20.1 billion, equivalent to 37.9% of the market's overall value.
– The rise in mega infrastructure projects is a key driver for the North American HVAC market, as large commercial complexes, airports, and industrial facilities require sophisticated heating, ventilation, and air conditioning systems for optimal climate control and energy efficiency. Construction projects of large airports, such as the Los Angeles International Airport (LAX) Expansion in the US and the Ontario Line in Canada, are fueling demand for advanced HVAC solutions to maintain air quality and ensure comfort in expansive indoor spaces.
Scope
Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the hvac market in North America
Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the hvac market in North America
Leading company profiles reveal details of key hvac market players’ global operations and financial performance
Add weight to presentations and pitches by understanding the future growth prospects of the North America hvac market with five year forecasts
Reasons to Buy
What was the size of the North America hvac market by value in 2024?
What will be the size of the North America hvac market in 2029?
What factors are affecting the strength of competition in the North America hvac market?
How has the market performed over the last five years?
Who are the top competitiors in North America's hvac market?
Carrier Global Corp
Daikin Industries Ltd
Lennox International Inc
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