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Analysis of the North American HVAC Equipment Market

  • 103 pages, published in April 2013
  • By Frost & Sullivan
  • Report Number: 1172021

Summary

Table of Contents

Increasing Demand for Energy-efficient Equipment Drives Growth

This research is primarily driven by the energy savings that can be achieved by upgrading to high-efficiency products and equipment replacements. This research service provides an in-depth analysis of the North American HVAC equipment market. It is segmented into unitary equipment, applied systems, and chillers. It provides revenue forecasts for the total market and considers the various drivers and restraints that affect the market in North America. In addition, revenue forecasts for each market segment, distribution channel, and vertical markets are provided as is an analysis of the competitive landscape. The study period for this research service is 2009 to 2017; the base year is 2012.

Executive Summary

• The North American heating, ventilation, and air conditioning (HVAC) equipment market generated revenue of $X billion in 2012, up X percent over the previous year.
• Although the market declined in 2009 and 2010, it is expected to experience steady growth through 2017—the end of the forecast period.
• By 2017, the market is expected to reach $Xbillion in revenue. The market is forecast to have a compound annual growth rate (CAGR) ofX percent from 2012 to 2017.
• The key drivers are the need to increase energy efficiency, achieve energy savings, and replace equipment.
• On the other hand, the key restraints are intense competition, high initial cost, and—in the short term—the state of the economy.
• The unitary segment is expected to increase its share of the market revenue as the trend toward smaller and more economical units continues.
• All segments of the market are expected to see an upward growth trend during the forecast period.
• Research and development efforts are likely to continue to focus on making the equipment more energy efficient and lowering the noise levels.
• Another major market trend is the use of controls to increase the efficiency of the overall system rather than focusing only on the efficiency of the components.
• Although modest growth is expected in all verticals, the institutional vertical is expected to witness the highest growth during the forecast period.
• The commercial and industrial segments are expected to show more growth potential toward the end of the forecast period.
• The market is characterized by traditional distribution channels such as manufacturer representatives, contractors/distributors, and the direct channel.
• The largest distribution channel in this market is the manufacturer representative channel. In fact, about Xpercent of HVAC equipment is distributed through this channel.

CEO’s Perspective

1. Frost & Sullivan expects economic recovery and the revitalization of the construction market to drive growth after 2011.
2. A shift toward more energy-efficient equipment will continue throughout the forecast period.
3. The unitary equipment segment will witness the highest growth and increase its share of the market.
4. The institutional vertical presents a good opportunity for growth during the entire forecast period.
5. The water-cooled chillers segment will continue to lose share to the air-cooled chiller segment.

Key Questions This Study Will Answer

• Is the HVAC equipment market growing, how long will it continue to grow, and at what rate?
• Are the existing competitors structured correctly to meet customer needs?
• What segments of the market will represent the greatest growth potential over the next several years?
• How will the structure of the market change with time?
• What vertical markets will represent the most growth potential over the next few years?
• Do the products offered today meet customer needs, or is additional development needed?

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