North America Hvac Systems Market Size & Outlook

The hvac systems market in North America is expected to reach a projected revenue of US$ 5,690.4 million by 2033. A compound annual growth rate of 5.7% is expected of North America hvac systems market from 2025 to 2033.
Revenue, 2024 (US$M)
$3,462.9
Forecast, 2033 (US$M)
$5,690.4
CAGR, 2025 - 2033
5.7%
Report Coverage
North America

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North America hvac systems market, 2021-2033 (US$M)

North America hvac systems market, 2021-2033 (US$M)

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North America hvac systems market highlights

  • The North America hvac systems market generated a revenue of USD 3,462.9 million in 2024.
  • The market is expected to grow at a CAGR of 5.7% from 2025 to 2033.
  • In terms of segment, ventilation was the largest revenue generating product in 2024.
  • Heating is the most lucrative product segment registering the fastest growth during the forecast period.
  • Country-wise, Mexico is expected to register the highest CAGR from 2025 to 2033.


North America data book summary

Market revenue in 2024USD 3,462.9 million
Market revenue in 2033USD 5,690.4 million
Growth rate5.7% (CAGR from 2025 to 2033)
Largest segmentVentilation
Fastest growing segmentHeating
Historical data covered2021 - 2023
Base year for estimation2024
Forecast period covered2025 - 2033
Quantitative unitsRevenue in USD million
Market segmentationHeating, Ventilation, Cooling
Key market players worldwideCarrier Global Corp Ordinary Shares, Daikin Industries Ltd, Fujitsu Ltd, Haier, Hitachi Ltd, Johnson Controls International PLC, LG Electronics Inc ADR, Lennox International Inc, Mitsubishi Electric Corp, Samsung Electronics Co Ltd, Trane Technologies PLC Class A


Other key industry trends

  • In terms of revenue, North America region accounted for 28.4% of the global hvac systems market in 2024.
  • Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2033.
  • Asia Pacific is the fastest growing regional market and is projected to reach USD 8,333.3 million by 2033.

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HVAC Systems Market Companies

Name Profile # Employees HQ Website
Trane Technologies PLC Class A View profile 40000 170/175 Lakeview Drive, Airside Business Park, Swords County, Dublin, Ireland https://www.tranetechnologies.com
Lennox International Inc View profile 12600 2140 Lake Park Boulevard, Richardson, TX, United States, 75080 https://www.lennox.com
Haier View profile 10001+ Qingdao Shi, Shandong, China, Asia http://haier.com/in
Carrier Global Corp Ordinary Shares View profile 53000 13995 Pasteur Boulevard, Palm Beach Gardens, FL, United States, 33418 https://www.corporate.carrier.com
Daikin Industries Ltd View profile 107127 Umeda Center Building, 2-4-12, Nakazaki-Nishi, Kita-ku, Osaka, Japan, 530-8323 http://www.daikin.com
LG Electronics Inc ADR View profile 35111 Twin Tower 128, Yeoui-daero, Yeongdeungpo-gu, Seoul, Korea, Republic of, 07336 https://www.lge.co.kr
Samsung Electronics Co Ltd View profile 124804 129, Samsung-ro, Yeongtong-gu, Gyeonggi-do, Suwon-si, Korea, Republic of, 443-742 https://www.samsung.com
Mitsubishi Electric Corp View profile 149134 Tokyo Building, 2-7-3, Marunouchi, Chiyoda-ku, Tokyo, Japan, 100-8310 https://www.mitsubishielectric.com
Johnson Controls International PLC View profile 102000 One Albert Quay, Cork, Ireland, T12 X8N6 https://www.johnsoncontrols.com
Hitachi Ltd View profile 322525 6-6, Marunouchi 1-chome, Chiyoda-ku, Tokyo, Japan, 100-8280 http://www.hitachi.com
Fujitsu Ltd View profile 124055 Shiodome City Center, 1-5-2 Higashi-Shimbashi, Minato-ku, Tokyo, Japan, 105-7123 http://www.fujitsu.com

North America hvac systems market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to hvac systems market will help companies and investors design strategic landscapes.


Ventilation was the largest segment with a revenue share of 46.41% in 2024. Horizon Databook has segmented the North America hvac systems market based on heating, ventilation, cooling covering the revenue growth of each sub-segment from 2021 to 2033.


North America, led by the U.S., Canada, and Mexico accounted for a significant share in terms of revenue of the HVAC systems market in 2022. The growth of the market in this region can be attributed to the expansion of urban areas, the presence of industrially developed countries, and the stringent implementation of rules and regulations related to HVAC system installations in North America.

Moreover, with the rapid growth of the real estate sector owing to the rise in requirements for residential and commercial buildings and the introduction of Green Building Certification in the U.S., the market of HVAC systems is expected to flourish over the forecast period in North America. 

HVAC systems help maintain the optimum temperature, humidity, and air quality in the industrial, commercial, and residential spaces for the safety of individuals and the smooth conduct of different industrial processes.

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Horizon Databook provides a detailed overview of continent-level data and insights on the North America hvac systems market , including forecasts for subscribers. This continent databook contains high-level insights into North America hvac systems market from 2021 to 2033, including revenue numbers, major trends, and company profiles.

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North America hvac systems market size, by country, 2021-2033 (US$M)

North America HVAC Systems Market Outlook Share, 2024 & 2033 (US$M)

North America hvac systems market size, by country, 2021-2033 (US$M)

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