North America HVAC System Market Analysis by Business Methodologies, Financial Overview and Growth Prospects Predicted by 2030
The North America HVAC system market was valued at US$ 90,492.1 million in 2022 and is expected to reach US$ 2,02,793.85 million by 2030; it is estimated to grow at a CAGR of 10.6% from 2022 to 2030.
Growth in Government Regulatory Policies for Energy Saving and
Conservation Fuel the North America HVAC System Market
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Governments across the world are using a variety of strategies to
encourage energy saving and conservation. They are including sizable line items
for energy costs in their yearly operational budgets. In addition, they are
saving a lot of money on energy costs incurred in public buildings and are
exhibiting energy and environmental leadership by investing in energy
efficiency.
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Other than the increase in the efficiency of both new and existing
facilities, many governments are including energy efficiency standards in their
decisions of product purchases. The main energy consumers in municipal level
operations are often the water and wastewater treatment facilities.
High-quality HVAC systems can be employed at water and wastewater
facilities to decrease energy costs and greenhouse gas emissions. Through
energy data management and evaluation, energy efficiency standards for public
buildings, uptake of retrofit programs for already-existing public buildings,
acquisition of energy-efficient appliances and equipment, and establishment of
energy-efficient operations and maintenance procedures, state and local
governments are promoting energy efficiency programs and policies for public
facilities, equipment, and government operations.
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Mitsubishi Electric Corp
Blue Star Ltd
Hitachi Ltd
Daikin Industries Ltd
Emerson Electric Co
Honeywell International Inc
LG Electric Inc
Carrier Global Corp
The HVAC (Heating, Ventilation, and
Air Conditioning) system market is a dynamic and multifaceted sector,
experiencing continuous evolution driven by technological advancements,
stringent energy efficiency regulations, increasing consumer demand for
comfort, and the escalating impacts of climate change. This market encompasses
a broad spectrum of products, including air conditioners, furnaces, heat pumps,
ventilation systems, and controls, catering to diverse applications across
residential, commercial, and industrial sectors.
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