Canada Heating, Ventilation, and Air Conditioning (Hvac) Equipment Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Canadian HVAC equipment market is expected to register a CAGR of 3.56% over the forecast period. Heating, ventilation, and air conditioning (HVAC) equipment refers to the different systems used for circulating air between indoor and outdoor areas and heating and cooling in residential and commercial buildings. These systems also filter and clean indoor air and maintain humidity at optimal levels.
Key HighlightsThe Canadian heating, ventilation, and air conditioning equipment market is highly fragmented, with the presence of key players in the market like Daikin Industries Ltd, LG Electronics Inc., Nortek Air Solutions Llc, Rheem Manufacturing Company Inc., and Trane Technologies PLC, among others. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
In September 2022, Trane Technologies, one of the global climate innovators, announced innovations to expand its electrified heating and cooling portfolio and upgrade two well-known series of rooftop units to improve energy efficiency, building connectivity, and control. Trane introduced the new Thermafit Air-to-Water Modular Heat Pump Model AXM that offers flexible, all-electric heating and cooling. It also introduced updates to its Voyager 3 and IntelliPak 2 rooftop units to improve indoor comfort and air quality in warehouses and large facilities.
In June 2022, Carrier Corporation introduced the redesigned Performance series 17 two-stage air conditioner and the Performance series 17 two-stage heat pump. These comply with the upcoming 2023 Department of Energy (DOE) minimum efficiency requirements.
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