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North America Residential Unitary HVAC Market 2025 to Grow at 5.5 CAGR with 6.53 Billion Market Size: Analysis and Forecasts 2033
North America Residential Unitary HVAC Market by Product Type (Air Conditioning Equipment, Ducted Heat Pumps/ Packaged Terminal Heat Pumps (PTHPs), Variable Refrigerant Flow (VRF) Systems, Packaged Heating & Cooling Unit, Others (Air Handlers, Gas furnaces, evaporator coils, etc)), by Installation (New Construction, Replacement/Retrofit), by Mounting Type (Wall-Mounted Units, Ceiling-Mounted Units), by Distribution channel (Direct sales, Indirect sales), by U.S., by Canada, by Mexico Forecast 2025-2033
North America Residential Unitary HVAC Market 2025 to Grow at 5.5 CAGR with 6.53 Billion Market Size: Analysis and Forecasts 2033
Key Insights
The size of the North America Residential Unitary HVAC Market was valued at USD 6.53 Billion in 2024 and is projected to reach USD 9.50 Billion by 2033, with an expected CAGR of 5.5% during the forecast period. Various factors converge to cause this expansion. Such a need is driven by the growing awareness of consumers concerning energy efficiency and the resultant benefits one receives from advanced HVAC systems. Such a client is looking to save energy and, in turn, cut utility bills drastically. Governments are not far behind, having rules and incentives-such as tax credits and rebates-for acquiring these efficient appliances. North America has been experiencing a rise in disposable income levels, which would allow more homeowners to finance their home improvement, including the upgrade of their HVAC systems. In addition, the continuous technological advancement is producing more efficient, innovative, and smart HVAC products that further boost market growth. Some of the major players in this market are giant companies such as Carrier Group, Daikin Industries Inc., and Lennox International. These HVAC systems are applied in all kinds of residential settings, including single-family homes, apartments, and condominiums.
North America Residential Unitary HVAC Market Concentration & Characteristics
The market is moderately concentrated, with the top 10 players accounting for about 50% of the revenue share. Innovation remains a key characteristic of the industry, with manufacturers continuously developing new and improved products to meet consumer demands. Regulations, particularly those related to energy efficiency, significantly impact the market. Product substitutes, such as evaporative coolers and geothermal heat pumps, pose minimal competition. The market has a moderate level of M&A, with companies seeking to expand their product offerings or geographic reach.
North America Residential Unitary HVAC Market Trends
Key market trends shaping the industry include:
- Growing demand for smart and connected HVAC systems that offer remote monitoring and control
- Increasing popularity of variable refrigerant flow (VRF) systems due to their energy efficiency and flexibility
- Adoption of natural refrigerants, such as R-32 and R-410A, to reduce environmental impact
- Focus on indoor air quality, leading to increased demand for air purifiers and humidifiers
- Emergence of hybrid HVAC systems that combine different technologies, such as heat pumps and boilers, to optimize energy efficiency
Key Region or Country & Segment to Dominate the Market
The United States is the dominant region in the North America residential unitary HVAC market, holding a significant share due to the large population and high consumer spending. Key segments that are expected to drive growth include:
- Product Type: Variable Refrigerant Flow (VRF) Systems
- Installation: New Construction
- Mounting Type: Wall-Mounted Units
North America Residential Unitary HVAC Market Product Insights Report Coverage & Deliverables
This report provides comprehensive coverage of the North America residential unitary HVAC market, including:
- Market size and forecast
- Market share and competitive landscape
- Product type, installation, and mounting type segmentation
- Regional insights
- Key industry trends and drivers
- Challenges and opportunities
North America Residential Unitary HVAC Market Analysis
The market is analyzed in terms of market size, market share, and growth. The analysis provides insights into the key market dynamics and their impact on the industry.
North America Residential Unitary HVAC Market Regional Insights
The market is analyzed at the regional level, with a focus on the United States, Canada, Mexico, and additional segments as deemed relevant.
Driving Forces: What's Propelling the North America Residential Unitary HVAC Market
The market is driven by various factors, including increasing consumer awareness about energy efficiency, government regulations, rising disposable income levels, and technological advancements.
Challenges and Restraints in North America Residential Unitary HVAC Market
Challenges include supply chain disruptions, skilled labor shortages, and the impact of regulations on product design and manufacturing.
Emerging Trends in North America Residential Unitary HVAC Market
Emerging trends shaping the market are smart and connected HVAC systems, VRF systems, natural refrigerants, indoor air quality, and hybrid HVAC systems.
North America Residential Unitary HVAC Industry News
Recent industry developments include the introduction of new water source heat pumps by Bosch Home Comfort Group, innovative design upgrades by Trane Technologies, the launch of Premier Wall-mounted Indoor Units by Mitsubishi Electric Trane HVAC US LLC, and the unveiling of latest HVAC solutions by LG Electronics.
Leading Players in the North America Residential Unitary HVAC Market
- Carrier Group
- Daikin Industries Inc.
- Lennox International
- Johnson Controls Plc
- Trane Technologies
- LG Electronics
- Midea Group
- Mitsubishi Electric Group
- Gree Electric Appliances, Inc.
- Haier Group
- Hisense HVAC Equipment Co., Ltd.
- Danfoss A/S
- Rheem Manufacturing Company
- Robert Bosch GmbH
North America Residential Unitary HVAC Market Segmentation
- 1. Product Type
- 1.1. Air Conditioning Equipment
- 1.2. Ducted Heat Pumps/ Packaged Terminal Heat Pumps (PTHPs)
- 1.3. Variable Refrigerant Flow (VRF) Systems
- 1.4. Packaged Heating & Cooling Unit
- 1.5. Others (Air Handlers, Gas furnaces, evaporator coils, etc)
- 2. Installation
- 2.1. New Construction
- 2.2. Replacement/Retrofit
- 3. Mounting Type
- 3.1. Wall-Mounted Units
- 3.2. Ceiling-Mounted Units
- 4. Distribution channel
- 4.1. Direct sales
- 4.2. Indirect sales
North America Residential Unitary HVAC Market Segmentation By Geography
- 1. U.S.
- 2. Canada
- 3.Mexico
North America Residential Unitary HVAC Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 5.5% from 2019-2033 |
| Segmentation |
|
Table Of Content
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1 Rising demand for energy efficient and sustainable cooling solutions
- 3.2.2 Advancements in HVAC Technology
- 3.3. Market Restrains
- 3.3.1 Energy shortages and crisis
- 3.3.2 Complex regulatory landscape
- 3.4. Market Trends
- 3.4.1 Growing demand for smart and connected HVAC systems that offer remote monitoring and control Increasing popularity of variable refrigerant flow (VRF) systems due to their energy efficiency and flexibility Adoption of natural refrigerants
- 3.4.2 such as R-32 and R-410A
- 3.4.3 to reduce environmental impact
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. North America Residential Unitary HVAC Market Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Product Type
- 5.1.1. Air Conditioning Equipment
- 5.1.2. Ducted Heat Pumps/ Packaged Terminal Heat Pumps (PTHPs)
- 5.1.3. Variable Refrigerant Flow (VRF) Systems
- 5.1.4. Packaged Heating & Cooling Unit
- 5.1.5. Others (Air Handlers, Gas furnaces, evaporator coils, etc)
- 5.2. Market Analysis, Insights and Forecast - by Installation
- 5.2.1. New Construction
- 5.2.2. Replacement/Retrofit
- 5.3. Market Analysis, Insights and Forecast - by Mounting Type
- 5.3.1. Wall-Mounted Units
- 5.3.2. Ceiling-Mounted Units
- 5.4. Market Analysis, Insights and Forecast - by Distribution channel
- 5.4.1. Direct sales
- 5.4.2. Indirect sales
- 5.5. Market Analysis, Insights and Forecast - by Region
- 5.5.1. U.S.
- 5.5.2. Canada
- 5.5.3. Mexico
- 5.1. Market Analysis, Insights and Forecast - by Product Type
- 6. U.S. North America Residential Unitary HVAC Market Analysis, Insights and Forecast, 2019-2031
- 6.1. Market Analysis, Insights and Forecast - by Product Type
- 6.1.1. Air Conditioning Equipment
- 6.1.2. Ducted Heat Pumps/ Packaged Terminal Heat Pumps (PTHPs)
- 6.1.3. Variable Refrigerant Flow (VRF) Systems
- 6.1.4. Packaged Heating & Cooling Unit
- 6.1.5. Others (Air Handlers, Gas furnaces, evaporator coils, etc)
- 6.2. Market Analysis, Insights and Forecast - by Installation
- 6.2.1. New Construction
- 6.2.2. Replacement/Retrofit
- 6.3. Market Analysis, Insights and Forecast - by Mounting Type
- 6.3.1. Wall-Mounted Units
- 6.3.2. Ceiling-Mounted Units
- 6.4. Market Analysis, Insights and Forecast - by Distribution channel
- 6.4.1. Direct sales
- 6.4.2. Indirect sales
- 6.1. Market Analysis, Insights and Forecast - by Product Type
- 7. Canada North America Residential Unitary HVAC Market Analysis, Insights and Forecast, 2019-2031
- 7.1. Market Analysis, Insights and Forecast - by Product Type
- 7.1.1. Air Conditioning Equipment
- 7.1.2. Ducted Heat Pumps/ Packaged Terminal Heat Pumps (PTHPs)
- 7.1.3. Variable Refrigerant Flow (VRF) Systems
- 7.1.4. Packaged Heating & Cooling Unit
- 7.1.5. Others (Air Handlers, Gas furnaces, evaporator coils, etc)
- 7.2. Market Analysis, Insights and Forecast - by Installation
- 7.2.1. New Construction
- 7.2.2. Replacement/Retrofit
- 7.3. Market Analysis, Insights and Forecast - by Mounting Type
- 7.3.1. Wall-Mounted Units
- 7.3.2. Ceiling-Mounted Units
- 7.4. Market Analysis, Insights and Forecast - by Distribution channel
- 7.4.1. Direct sales
- 7.4.2. Indirect sales
- 7.1. Market Analysis, Insights and Forecast - by Product Type
- 8. Mexico North America Residential Unitary HVAC Market Analysis, Insights and Forecast, 2019-2031
- 8.1. Market Analysis, Insights and Forecast - by Product Type
- 8.1.1. Air Conditioning Equipment
- 8.1.2. Ducted Heat Pumps/ Packaged Terminal Heat Pumps (PTHPs)
- 8.1.3. Variable Refrigerant Flow (VRF) Systems
- 8.1.4. Packaged Heating & Cooling Unit
- 8.1.5. Others (Air Handlers, Gas furnaces, evaporator coils, etc)
- 8.2. Market Analysis, Insights and Forecast - by Installation
- 8.2.1. New Construction
- 8.2.2. Replacement/Retrofit
- 8.3. Market Analysis, Insights and Forecast - by Mounting Type
- 8.3.1. Wall-Mounted Units
- 8.3.2. Ceiling-Mounted Units
- 8.4. Market Analysis, Insights and Forecast - by Distribution channel
- 8.4.1. Direct sales
- 8.4.2. Indirect sales
- 8.1. Market Analysis, Insights and Forecast - by Product Type
- 9. Competitive Analysis
- 9.1. Market Share Analysis 2024
- 9.2. Company Profiles
- 9.2.1 Carrier Group
- 9.2.1.1. Overview
- 9.2.1.2. Products
- 9.2.1.3. SWOT Analysis
- 9.2.1.4. Recent Developments
- 9.2.1.5. Financials (Based on Availability)
- 9.2.2 Daikin Industries Inc.
- 9.2.2.1. Overview
- 9.2.2.2. Products
- 9.2.2.3. SWOT Analysis
- 9.2.2.4. Recent Developments
- 9.2.2.5. Financials (Based on Availability)
- 9.2.3 Danfoss A/S
- 9.2.3.1. Overview
- 9.2.3.2. Products
- 9.2.3.3. SWOT Analysis
- 9.2.3.4. Recent Developments
- 9.2.3.5. Financials (Based on Availability)
- 9.2.4 GREE Electric Appliances inc
- 9.2.4.1. Overview
- 9.2.4.2. Products
- 9.2.4.3. SWOT Analysis
- 9.2.4.4. Recent Developments
- 9.2.4.5. Financials (Based on Availability)
- 9.2.5 Haier Group
- 9.2.5.1. Overview
- 9.2.5.2. Products
- 9.2.5.3. SWOT Analysis
- 9.2.5.4. Recent Developments
- 9.2.5.5. Financials (Based on Availability)
- 9.2.6 Hisense HVAC equipment Co. Ltd.
- 9.2.6.1. Overview
- 9.2.6.2. Products
- 9.2.6.3. SWOT Analysis
- 9.2.6.4. Recent Developments
- 9.2.6.5. Financials (Based on Availability)
- 9.2.7 Johnson Controls Plc
- 9.2.7.1. Overview
- 9.2.7.2. Products
- 9.2.7.3. SWOT Analysis
- 9.2.7.4. Recent Developments
- 9.2.7.5. Financials (Based on Availability)
- 9.2.8 Lennox International
- 9.2.8.1. Overview
- 9.2.8.2. Products
- 9.2.8.3. SWOT Analysis
- 9.2.8.4. Recent Developments
- 9.2.8.5. Financials (Based on Availability)
- 9.2.9 LG Electronics
- 9.2.9.1. Overview
- 9.2.9.2. Products
- 9.2.9.3. SWOT Analysis
- 9.2.9.4. Recent Developments
- 9.2.9.5. Financials (Based on Availability)
- 9.2.10 Midea Group
- 9.2.10.1. Overview
- 9.2.10.2. Products
- 9.2.10.3. SWOT Analysis
- 9.2.10.4. Recent Developments
- 9.2.10.5. Financials (Based on Availability)
- 9.2.11 Mitsubishi Electric Group
- 9.2.11.1. Overview
- 9.2.11.2. Products
- 9.2.11.3. SWOT Analysis
- 9.2.11.4. Recent Developments
- 9.2.11.5. Financials (Based on Availability)
- 9.2.12 Panasonic Corporation
- 9.2.12.1. Overview
- 9.2.12.2. Products
- 9.2.12.3. SWOT Analysis
- 9.2.12.4. Recent Developments
- 9.2.12.5. Financials (Based on Availability)
- 9.2.13 Rheem Manufacturing Company
- 9.2.13.1. Overview
- 9.2.13.2. Products
- 9.2.13.3. SWOT Analysis
- 9.2.13.4. Recent Developments
- 9.2.13.5. Financials (Based on Availability)
- 9.2.14 Robert Bosch GmbH
- 9.2.14.1. Overview
- 9.2.14.2. Products
- 9.2.14.3. SWOT Analysis
- 9.2.14.4. Recent Developments
- 9.2.14.5. Financials (Based on Availability)
- 9.2.15 Trane Technologies
- 9.2.15.1. Overview
- 9.2.15.2. Products
- 9.2.15.3. SWOT Analysis
- 9.2.15.4. Recent Developments
- 9.2.15.5. Financials (Based on Availability)
- 9.2.1 Carrier Group
List of Figures
- Figure 1: North America Residential Unitary HVAC Market Revenue Breakdown (Billion, %) by Product 2024 & 2032
- Figure 2: North America Residential Unitary HVAC Market Share (%) by Company 2024
List of Tables
- Table 1: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Region 2019 & 2032
- Table 2: North America Residential Unitary HVAC Market Volume units Forecast, by Region 2019 & 2032
- Table 3: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Product Type 2019 & 2032
- Table 4: North America Residential Unitary HVAC Market Volume units Forecast, by Product Type 2019 & 2032
- Table 5: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Installation 2019 & 2032
- Table 6: North America Residential Unitary HVAC Market Volume units Forecast, by Installation 2019 & 2032
- Table 7: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Mounting Type 2019 & 2032
- Table 8: North America Residential Unitary HVAC Market Volume units Forecast, by Mounting Type 2019 & 2032
- Table 9: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Distribution channel 2019 & 2032
- Table 10: North America Residential Unitary HVAC Market Volume units Forecast, by Distribution channel 2019 & 2032
- Table 11: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Region 2019 & 2032
- Table 12: North America Residential Unitary HVAC Market Volume units Forecast, by Region 2019 & 2032
- Table 13: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Product Type 2019 & 2032
- Table 14: North America Residential Unitary HVAC Market Volume units Forecast, by Product Type 2019 & 2032
- Table 15: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Installation 2019 & 2032
- Table 16: North America Residential Unitary HVAC Market Volume units Forecast, by Installation 2019 & 2032
- Table 17: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Mounting Type 2019 & 2032
- Table 18: North America Residential Unitary HVAC Market Volume units Forecast, by Mounting Type 2019 & 2032
- Table 19: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Distribution channel 2019 & 2032
- Table 20: North America Residential Unitary HVAC Market Volume units Forecast, by Distribution channel 2019 & 2032
- Table 21: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Country 2019 & 2032
- Table 22: North America Residential Unitary HVAC Market Volume units Forecast, by Country 2019 & 2032
- Table 23: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Product Type 2019 & 2032
- Table 24: North America Residential Unitary HVAC Market Volume units Forecast, by Product Type 2019 & 2032
- Table 25: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Installation 2019 & 2032
- Table 26: North America Residential Unitary HVAC Market Volume units Forecast, by Installation 2019 & 2032
- Table 27: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Mounting Type 2019 & 2032
- Table 28: North America Residential Unitary HVAC Market Volume units Forecast, by Mounting Type 2019 & 2032
- Table 29: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Distribution channel 2019 & 2032
- Table 30: North America Residential Unitary HVAC Market Volume units Forecast, by Distribution channel 2019 & 2032
- Table 31: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Country 2019 & 2032
- Table 32: North America Residential Unitary HVAC Market Volume units Forecast, by Country 2019 & 2032
- Table 33: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Product Type 2019 & 2032
- Table 34: North America Residential Unitary HVAC Market Volume units Forecast, by Product Type 2019 & 2032
- Table 35: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Installation 2019 & 2032
- Table 36: North America Residential Unitary HVAC Market Volume units Forecast, by Installation 2019 & 2032
- Table 37: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Mounting Type 2019 & 2032
- Table 38: North America Residential Unitary HVAC Market Volume units Forecast, by Mounting Type 2019 & 2032
- Table 39: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Distribution channel 2019 & 2032
- Table 40: North America Residential Unitary HVAC Market Volume units Forecast, by Distribution channel 2019 & 2032
- Table 41: North America Residential Unitary HVAC Market Revenue Billion Forecast, by Country 2019 & 2032
- Table 42: North America Residential Unitary HVAC Market Volume units Forecast, by Country 2019 & 2032
STEP 1 - Identification of Relevant Samples Size from Population Database
STEP 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segemnts, product and application.
Note* : In applicable scenarios
STEP 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
STEP 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
Additionally after gathering mix and scattered data from wide range of sources, data is triangull- ated and correlated to come up with estimated figures which are further validated through primary mediums, or industry experts, opinion leader.
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