North America HVAC System Market is expected to reach US$ 63.40 Billion by 2031

Indoor Air Quality Awareness Boosts North America HVAC System Market Growth

According to our new research study on “North America HVAC System Market Forecast to 2031 – by Type, Implementation, Application, and Component,” the North America HVAC system market size was valued at US$ 41.08 billion in 2024 and is projected to reach US$ 63.40 billion by 2031; it is expected to register a CAGR of 6.49% during 2025–2031. The report highlights factors contributing to the North America HVAC system market growth and prominent players, along with their developments in the market.

As the trend of people spending more time indoors in their homes, offices, schools, and commercial facilities continues, the focus on designing healthy environments that are comfortable, productive, and contribute to the well-being of the people is increasing. Governments and public health organizations across the region are emphasizing the need to minimize indoor pollutants and improve building ventilation. The change is pushing up the demand for such HVAC systems as are able to filter, purify, and circulate indoor air. As a prominent member of the Climate and Clean Air Coalition (CCAC), Mexico has come to terms with the fact that managing short-lived climate pollutants (SLCPs) is the main road to better air quality and less climate change impacts in the near term. The country has intensified its commitment by enacting the General Law on Climate Change in 2012, thus creating a legal obligation for the reduction of these pollutants.

North America HVAC System Market

The Canadian Committee on Indoor Air Quality and Buildings considers an indoor environment to be healthy when it is comfortable and beneficial to health, which it achieves by observing proper temperature, humidity, fresh air intake, and the lack of substances such as chemicals, gases, dust, mold, and bacteria, and also, by the absence of repulsive smells. The committee points out the importance of good sanitation, control over moisture, and the West, building management staff, and occupants collaborating for maintenance of acceptable IAQ levels.

North America HVAC System Market Trends

California Energy Commission (May 2024) described mini, split air conditioning systems as high-efficiency, ductless HVAC solutions that include an outdoor condensing unit connected to indoor units through refrigerant lines. These systems are rapidly becoming a significant trend, especially in retrofit projects that facilitate building electrification and energy efficiency objectives. Mini, split systems are a viable solution for the renovation of existing residential and light commercial buildings, in which the installation of traditionally ducted HVAC systems is either difficult or costly. Due to their small size, they can be installed in almost any location without the need for major structural changes; thus, they are quite suitable for old buildings in the whole of North America. Their high energy efficiency contributes to the reduction of energy consumption and operating costs, which is in line with regional sustainability initiatives.

The North America HVAC system market is divided into the US, Canada, and Mexico.

In the US, programs such as the Energy Efficient Home Improvement Credit, the Residential Clean Energy Credit, and the Home Electrification and Appliances Rebate (HEAR) Program allow households, including low-to-moderate-income (LMI) households, to install energy-efficient HVAC solutions such as heat pumps. Consumers receive rebates, loans, and upfront installation discounts while still saving on energy costs in the long run, which leads to economic and environmental benefits.

In Canada, the Canada Greener Homes Loan (CGHL) and other such initiatives have been instrumental in promoting energy-efficient building retrofits and new installations. These programs motivate homeowners to install high-efficiency HVAC systems and follow eco, friendly construction practices, thus helping the country to achieve its carbon reduction and energy-saving targets.

The North America HVAC system market analysis is performed by considering the following segments: type, voltage range, power rating, application, cooling type, and phase. The market is segmented based on component, type, implementation, and application. By component, the market is classified into thermostats, air handling units, central air conditioners, furnaces, heat pumps, compressors, and other supporting components. Based on type, the market is categorized into split systems, ductless systems, and packaged systems. In terms of implementation, the market is divided into new installations and retrofit projects. By application, the market is segmented into residential, commercial, and industrial end users.

Based on type, the North America HVAC system market report is divided into split systems, ductless systems, and packaged systems. The split system segment held the largest North America HVAC system market share in 2024. In North America, split systems are the most common type of HVAC systems that are used. The main reasons for this are their high energy efficiency, the flexible nature of their installation, and the fact that they are suitable for both new buildings as well as retrofit projects. These types of systems typically include an outdoor unit that is linked to one or more indoor units, thereby enabling the efficient heating and cooling of a space without the need for lengthy ductwork.

Daikin Industries Ltd, Johnson Controls International Plc., Carrier Global Corp, Honeywell International Inc., Mitsubishi Electric Corp, Robert Bosch GmbH, Systemair AB, LG Electronics Inc., Emerson Electric Co., Hitachi Ltd, and Trane Technologies Plc. are leading companies profiled in the North America HVAC system market report.

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