Dublin, Feb. 16, 2022 (GLOBE NEWSWIRE) -- The "United States Commercial HVAC Market, By Product Type (Chillers, Cooling Towers, Air Handling Units, VRF, Heat Pumps, Others), By End User (Industries, Institutional, HORECA, Others), By Sales Channel, By Region, Competition, Forecast & Opportunities, 2016-2026" report has been added to ResearchAndMarkets.com's offering.
The United States Commercial HVAC Market was valued at USD14.70 billion in the year 2020 and projected to show a CAGR of 4.01% by the year 2026 on account of the advantages of novel technology in the advanced appliances installed in commercial complexes.
The increasing number of commercial infrastructures, rapidly expanding construction industry and involvement of advanced technology in infrastructure construction drives the growth of the United States Commercial HVAC Market in the upcoming five years.
Government is adamant toward incorporating advanced HVAC systems and renovating and developing new commercial infrastructure along with technological advancement in the HVAC systems, which further supports the growth of the United States Commercial HVAC Market in the next five years. HVAC technology uses heating, ventilation, and air conditioning to create a pure and comfortable indoor environment with acceptable indoor air quality and thermal comfort advantages.
HVAC systems maintain a proper equilibrium between the air pressure, space in the facility and also provide proper air ventilation and improve air filtration. Increased availability of highly efficient equipment, rising construction activities and increasing office space requirement in the country, extreme climatic conditions, etc., are some of the factors that further substantiate the growth of the United States Commercial HVAC Market in the future five years.
The United States Commercial HVAC Market is segmented based on product type, end-user, sales channel, region, and competitional landscape. Based on product type, the market is further fragmented into chillers, cooling towers, air handling units, VRF, heat pumps, and others.
Chillers are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on account of increasing demands for temperature moderation systems. Also, increasing concerns toward environmental degradation demands more advanced technology and appliances that can fulfill consumer demands as well as be beneficial for the environment.
Increasing technological advancement further substantiates the growth of the sub-segment and the United States Commercial HVAC Market in the forecast years, until 2027.
On the basis of end-user, the market is segmented into industries, institutional, commercial real estate, HORECA, and others. End-user industries are anticipated to dominate the market with the largest revenue shares in the upcoming five years due to rapidly increasing urbanization and globalization.
Increasing number of industries and the requirement to maintain a healthier environment is further anticipated to drive the growth of the market in the future five years.
Objective of the Study:
- To analyze and estimate the market size of the United States Commercial HVAC Market from 2016 to 2020.
- To estimate and forecast the market size of the United States Commercial HVAC Market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast the United States Commercial HVAC Market based on type, product type, end-user, sales channel, region, and competitional landscape.
- To identify dominant region or segment in the United States Commercial HVAC Market.
- To identify drivers and challenges for the United States Commercial HVAC Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the United States Commercial HVAC Market.
- To identify and analyze the profile of leading players operating in the United States Commercial HVAC Market.
- To identify key sustainable strategies adopted by the market players in the United States Commercial HVAC Market.
Companies that lead the market growth of the market include:
- Daikin North America LLC
- Carrier Global Corporation
- Mitsubishi Electric Trane HVAC US LLC (METUS)
- Johnson Controls, Inc
- Lennox International Inc
- Nortek Global HVAC LLC
- LG Electronics USA, Inc.
- Samsung HVAC America, LLC
- Rheem Manufacturing Company
- Danfoss LLC
Report Scope:
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
United States Commercial HVAC Market, By Product Type
- Chillers
- Cooling Towers
- Air Handling Units
- VRF
- Heat Pumps
- Others
United States Commercial HVAC Market, By End-User
- Industries
- Institutional
- Commercial Real Estate
- HORECA
- Others
United States Commercial HVAC Market, By Sales Channel
- Distributor/Dealer
- Institutional Sales
United States Commercial HVAC Market, By Region
- South
- West
- Midwest
- Northeast
For more information about this report visit https://www.researchandmarkets.com/r/y2v7wy
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