NEW YORK — The U.S. HVAC equipment market is expected to grow at a compound annual growth rate (CAGR) of 3.3 percent between 2015-2020, according to a recent report from Lucintel.
The report, “US HVAC Equipment Market 2015-2020: Trends, Forecast, and Opportunity Analysis,” provides an analysis of the HVAC equipment market, including analysis of market trends, competitive landscapes, company profiles, emerging trends, and key drivers of industry growth. The study also includes U.S. HVAC equipment market forecasts through 2020, segmented by products, including furnace, heat pump, central air conditioning, and room air conditioning. The report also provides an analysis of U.S. HVAC equipment by both residential and commercial applications.
On the basis of its comprehensive research, Lucintel forecasts that the U.S. HVAC equipment market is expected to depict a high growth during 2015-2020. The heat pump market will remain the largest segment in terms of value during the forecast period.
The major market driver is increasing building construction and replacement activities. Another important factor that drives the market is availability of easy financing, technological developments, and a rise in consumer spending on luxury goods and services. Energy cost, resource, and greenhouse gas emission restrictions are driving the demand for energy-efficient HVAC systems for the commercial and institutional market segments as well as in residential buildings.
To read the full report, visit http://bit.ly/1KfvPfy.
Publication date: 7/20/2015