HVAC Equipment

HVAC Equipment

US demand for heating, ventilation, and air conditioning (HVAC) equipment is forecast to increase 3.9% per year through 2023 to $25.1 billion, a deceleration from the rate of the 2013-2018 period due to two main factors:
Moderating replacement sales, as pent up demand following the Great Recession has been alleviated.

Slowing building construction, which will reduce the number of HVAC systems installed in new buildings.

The majority of expected demand increases will continue to stem from the replacement of existing equipment that has reached the end of its operational lifespan with better performing, and typically higher value, equipment.

HVAC Equipment Products covered in this report include:
Air conditioning equipment, including unitary air conditioners, room air conditioners, packaged terminal air conditioners, chillers, and absorption chillers
Heating equipment, including warm air furnaces, boilers, and room and zone heating equipment
Heat pumps, including air source and geothermal types
Dehumidifiers and humidifiers

Markets for HVAC equipment include:
Commercial buildings
Residential buildings
Demand is also broken out by US Census regions:
Northeast
Midwest
South
West

Scope of the Report
This Freedonia industry study analyzes the $20.7 billion US HVAC equipment industry. It presents historical demand data (2008, 2013, and 2018) and forecasts (2023) by product (air conditioning equipment, heating equipment, heat pumps, dehumidifiers & humidifiers), market (commercial buildings, residential buildings), and US region (Northeast, Midwest, South, West). The study also evaluates company market and competitive analysis on industry competitors including Daikin, Ingersoll-Rand, Johnson Controls, Lennox, LG Electronics, Nortek, Rheem, SPX, and United Technologies.