North America Hvac Systems Market Size & Outlook
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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 2024 | USD 3,462.9 million |
| Market revenue in 2033 | USD 5,690.4 million |
| Growth rate | 5.7% (CAGR from 2025 to 2033) |
| Largest segment | Ventilation |
| Fastest growing segment | Heating |
| Historical data covered | 2021 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Heating, Ventilation, Cooling |
| Key market players worldwide | Carrier 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 Scope
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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Our clientele includes a mix of hvac systems market companies, investment firms, advisory firms & academic institutions.
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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)
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