Americas HVACR Market Forecast 2017-2023

Americas Heating, Ventilation, Air-Conditioning, And Refrigeration (HVACR) Market 

-Analysis And Forecast: 2017-2023 

HVACR systems are gradually becoming more of a necessity rather than mere luxury products 

in countries across the Americas region. Countries such as the U.S. and Canada accounts for 

the major share of HVACR market in the North America region. Argentina and Brazil account 

for the majority market share in South America primarily due to hot climate, growing urban 

population, infrastructural developments and increased construction activities among others. 

Per capita income in Americas increased in the recent years which in turn has increased the 

average disposable income. This has highly been reflected in the residential HVACR market in 

Americas. Residential market has witnessed significant growth with the increase in the number 

of unit replacements. 

The following figure exhibits the Americas HVACR market size (‘000’ units) snapshot: 

Americas HVACR Market Size (‘000’ units) Snapshot 

XX 

XX 

XX 

XX 

XX 

XX 

XX 

XX 

2016 2017 2018 2019 2020 2021 2022 2023 

BIS Research Analysis 

In 2016 Americas HVACR market volume was xx thousand units which is forecast to reach a 

value of xx thousand units by 2023 at a CAGR of xx% from 2017-2023. 

The demand for HVACR equipment in this region is witnessing a steady growth overall. This 

growth rate can be attributed to countries such as Brazil, Argentina and Mexico that have 

shown a huge increase in the demand. 

North America has had a very steady growth with the U.S. and Canada as the major market 

share holders. On the other hand, South America had a huge increase in demand which can 

be attributed to the construction activities, infrastructural developments and economic growth 

in developing countries such as Brazil and Argentina. Also the entry of Chinese and Japanese 

OEMs in the market further affected the market favorably. 

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The following key questions are answered in the “Americas Heating, Ventilation Air-conditioning 

and Refrigeration (HVACR) Market, 2017-2023” report: 

• What are major types of HVACR products prevalent in Americas? 

• Who are the major players in Americas HVACR market and their respective company 

profile? 

• What are the key market developments and strategies of leading players in Americas 

HVACR market? 

• What are major drivers, challenges and opportunities for Americas HVACR market? 

• What is the market size (value and volume) of window and portable/moveable air 

conditioners in major countries across Americas region? 

• What is the market size (value and volume) of split systems in different countries across 

Americas region? 

• What is the market size (value and volume) of single packed systems in different countries 

across Americas region? 

• What is the market size (value and volume) of chillers in Americas HVACR market? 

• What is the market size (value and volume) of both water–cooled and air-cooled AHU 

and FCU in different countries across Americas region? 

• What is the market size (value) of refrigeration cycle components across different 

products? 

• What is the market share of top seven HVACR players in the Americas HVACR market 

along with their trend analysis? 

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Analysis & Forecast: 

Base Year: 2016 

Annual Estimated Forecast 

(2017-2023) 

Market, By Product Type: 

Window/Portable, Single Packaged, Chillers, Mini Split Systems, Air Handling Units 

and Fan Coil Units 

Market, By Components: 

Refrigeration Cycle Components (Compressor, Condenser, Evaporator, Expansion 

Valve and Others) and Supporting Components 

Market by Countries: 

North America: U.S., Canada and Mexico 

South America: Argentina, Brazil and Rest of South America 

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TABLE OF CONTENTS 

Executive Summary 

1 Research Scope & Methodology 

1.1 Scope of the Report 

1.2 Americas HVACR Market Research 

Methodology 

2 Market Dynamics 

2.1 Introduction 

2.2 Market Drivers 

2.2.1 Increased Construction activity in 

Americas 

2.2.2 Rapid Urbanisation 

2.2.3 Infrastructure Reforms and Increasing 

HVAC Unit Replacement 

2.3 Market Challenges 

2.3.1 Rising Demand for Energy 

2.3.2 Adherence to Stringent laws and 

regulations 

2.4 Market Opportunities 

2.4.1 Introduction of Environment Friendly 

Refrigerants 

2.4.2 Involvement of IoT in HVACR Industry 

3 Competitive landscape 

3.1 Key Players HVACR Market Share Analysis 

3.1.1 Assumptions and Limitations for 

Market Share Analysis 

3.1.2 HVACR Market Share Analysis 

3.2 Key Market Developments & Strategies 

3.2.1 Product Launch and Development 

3.2.2 Collaborations, Joint Ventures & 

Partnerships 

3.2.3 Business Expansion 

3.2.4 Mergers and Acquisitions 

3.3 Industry Attractiveness 

4 Industry Analysis 

4.1 Patent Analysis 

4.2 Consortium, Association, Acts and 

Regulatory Bodies 

4.3 Value Chain Analysis 

5 Americas HVACR Market, Analysis and Forecast 

5.1 Assumption for Analysis and Forecast of the 

Americas HVACR market 

5.2 Market Overview 

5.3 Americas HVACR Market, by Product Type 

5.3.1 Windows and Portable Air-conditioners 

5.3.2 Split Air-conditioners 

5.3.3 Single Packaged Units 

5.3.4 Chiller 

5.3.5 Air Handling Units (AHU) & Fan Coil 

Units (FCU) 

5.4 Americas HVACR Market, by Components 

5.4.1 Refrigeration Cycle Components 

5.4.1.1 Compressor 

5.4.1.2 Condenser 

5.4.1.3 Expansion Valve 

5.4.1.4 Evaporator 

5.4.2 HVACR Supporting Components (PCB’s, 

Fan Motor and Casing, among others) 

5.5 Americas HVACR Market, By Geography 

5.5.1 North America 

5.5.1.1 U.S. 

5.5.1.2 Canada 

5.5.1.3 Mexico 

5.5.2 South America 

5.5.2.1 Argentina 

5.5.2.2 Brazil 

5.5.2.3 Rest of South America 

6 Company Profiles 

6.1 Daikin 

6.1.1 Company Overview 

6.1.2 Financials 

6.1.2.1 Financial Summary 

6.1.3 SWOT Analysis 

6.2 L.G. Corporation 





6.3 Midea Group 




6.3.3 SWOT analysis 

6.4 United Technologies Corporation (Carrier) 


6.4.2 Carrier Corporation 



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6.5 Samsung 





6.6 Panasonic 





6.7 Johnson Controls 





6.8 Ingersoll Rand 


6.8.2 Trane 




6.9 Fujitsu 



6.9.3 Overall Financials 

6.9.4 Net Revenue by Business Segment 

6.9.5 Revenue across Different Geographies 



6.10 Toshiba 



6.10.3 Overall Financials 



6.11 Mitsubishi Electric 

6.11.1 Overview Table 




6.12 Lennox International Inc 





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Table 1 Macro-Economic Factors in Americas, 

2010–15 

Table 2.1 Some of the Major Construction 

Projects in Americas (2014-2017) 

Table 2.2 Urban population growth in Americas, 

2010 and 2015 

Table 2.3 Energy consumption in billion kWh 

Table 2.4 Refrigerants and their respective ODP 

& GWP 

Table 2.5 IoT Developments in HVACR Industry 

Table 3.1 Product Launches and Developments 

Table 3.2 Collaborations, Joint Ventures & 

Contracts 

Table 3.3 Business Expansion 

Table 3.4 Mergers and Acquisitions 

Table 3.5 Buyers and Suppliers in HVACR 

Americas Market 

Table 3.6 Key Factors in Determining “Threat 

from New Entrants” in HVACR Market 

Americas Region 

Table 3.7 Key Factors in Determining 

“Bargaining Power of Buyers” in 

HVACR Market Americas Region 

Table 3.8 Key Factors in Determining 

“Bargaining Power of Suppliers” in 


Table 3.9 Key Factors in Determining “Threat 

of Substitute Products or Services” in 


Table 3.10 Key Factors in determining “Rivalry 

among Existing Firms” in HVACR 

Market Americas region 

Table 4.1 Patents Filed in the Recent Years 

(2015-2017) 

Table 4.2 Consortium, Association, Acts and 

Regulatory Bodies 

Table 5.1 North America Windows and Portable 

Air Conditioners by Volume (2016- 

2023) 

Table 5.2 North America Windows and Portable 

Air Conditioners by Value (2016- 


Table 5.3 South America Windows and Portable 

Air Conditioners by Volume (2016- 


Table 5.4 South America Windows and Portable 

Air Conditioners by Value (2016- 


Table 5.5 North America Split Air Conditioners 

by Volume (2016-2023) 

Table 5.6 North America Split Air conditioners 

by Value (2016-2023) 

Table 5.7 South America Split Air Conditioners 


Table 5.8 South America Split Air Conditioners 


Table 5.9 North America Single Packaged Units 


Table 5.10 North America Single Packaged Units 


Table 5.11 South America Single Packaged Units 


Table 5.12 South America Single Packaged Units 


Table 5.13 Air Cooled Chillers vs. Water Cooled 

Chillers 

Table 5.14 North America Chiller Units by 

Volume (2016-2023) 

Table 5.15 North America Chiller Units 

Conditioners by Value (2016-2023) 

Table 5.16 South America Chiller Units by 


Table 5.17 South America Chiller Units 

Conditioners by Value (2016-2023) 

Table 5.18 North America AHU & FCU Units by 

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LIST OF TABLE 


Table 5.19 North America AHU & FCU Units by 

Value (2016-2023) 

Table 5.20 South America AHU & FCU Units by 


Table 5.21 South America AHU & FCU Units by 


Table 5.22 Americas Compressor Component 

Market Value, by Product 

Table 5.23 Americas Condenser Component 


Table 5.24 Americas Expansion Valve 

Component Market Value, by Product 

Table 5.25 Americas Evaporator Component 


Table 5.26 Americas Supporting Components by 


Table 5.27 U.S. Windows and Portable Air 

Conditioners Units Volume (‘000 

units), 2016 and 2023 


Conditioners Units by Value (2016- 



Conditioners Components by Value 



Conditioners Refrigeration Cycle 

Components by Value (2016-2023) 

Table 5.32 U.S. Mini Splits Air Conditioners 

Units by Value (2016-2023) 

Table 5.33 U.S. Mini Splits Ductless Components 


Table 5.34 U.S. Ductless Mini Splits 

Refrigeration Cycle Components by 


Table 5.35 U.S. Ducted Mini Splits Components 


Table 5.36 U.S. Ducted Mini Splits Refrigeration 

Cycle Components by Value (2016- 


Table 5.37 U.S. Single Packaged Air 

Conditioners Units by Volume (2016- 


Table 5.38 U.S. Single Packaged Units by Value 


Table 5.39 U.S. Rooftop Components by Value 


Table 5.40 U.S. Rooftop Refrigeration Cycle 


Table 5.41 U.S. Indoor Components by Value 


Table 5.42 U.S. Indoor Refrigeration Cycle 


Table 5.43 U.S. Chiller Units by Volume (2016- 


Table 5.44 U.S. chiller Units by Value (2016- 


Table 5.45 U.S. Chiller Components by Value 


Table 5.46 U.S. Chiller Refrigeration Cycle 


Table 5.47 U.S. AHU and FCU Units by Volume 


Table 5.48 U.S. AHU an FCU Units by Value 


Table 5.49 Canada Windows and Portable Air 












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LIST OF TABLE 

Table 5.53 Canada Split Air Conditioners Units 


Table 5.54 Canada Mini Splits Air Conditioners 


Table 5.55 Canada Mini Splits Ductless 


Table 5.56 Canada Ductless Mini Splits 



Table 5.57 Canada Ducted Mini Splits 


Table 5.58 Canada Ducted Mini Splits 



Table 5.59 Canada Single Packaged Air 



Table 5.60 Canada Single Packaged Air 



Table 5.61 Canada Rooftop Components by 


Table 5.62 Canada Rooftop Refrigeration Cycle 


Table 5.63 Canada Indoor Components by Value 


Table 5.64 Canada Indoor Refrigeration Cycle 


Table 5.65 Canada Chiller Units by Volume 


Table 5.66 Canada Chiller Units by Value (2016- 


Table 5.67 Canada Chiller Components by Value 


Table 5.68 Canada Chiller Refrigeration Cycle 


Table 5.69 Canada AHU and FCU Units by 


Table 5.70 Canada AHU an FCU Units by Value 


Table 5.71 Mexico Windows and Portable Air 












Table 5.75 Mexico Split Air Conditioners Units 


Table 5.76 Mexico Mini Splits Air Conditioners 


Table 5.77 Mexico Mini Splits Ductless 


Table 5.78 Mexico Ductless Mini Splits 



Table 5.79 Mexico Ducted Mini Splits 


Table 5.80 Mexico Ducted Mini Splits 



Table 5.81 Mexico Single Packaged Air 



Table 5.82 Mexico Single Packaged Air 



Table 5.83 Mexico Rooftop Components by 


Table 5.84 Mexico Rooftop Refrigeration Cycle 


Table 5.85 Mexico Indoor Components by Value 


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LIST OF TABLE 

Table 5.86 Mexico Indoor Refrigeration Cycle 


Table 5.87 Mexico Chiller Units by Volume 


Table 5.88 Mexico chiller Units by Value (2016- 


Table 5.89 Mexico Chiller Components by Value 


Table 5.90 Mexico Chiller Refrigeration Cycle 


Table 5.91 Mexico AHU and FCU Units by 


Table 5.92 Mexico AHU an FCU Units by Value 


Table 5.93 Argentina Windows and Portable Air 









Table 5.96 Argentina Windows and Portable 

Air Conditioners Refrigeration Cycle 


Table 5.97 Argentina Split Air Conditioners Units 


Table 5.98 Argentina Mini Splits Air Conditioners 


Table 5.99 Argentina Mini Splits Ductless 


Table 5.100 Argentina Ductless Mini Splits 



Table 5.101 Argentina Ducted Mini Splits 


Table 5.102 Argentina Ducted Mini Splits 



Table 5.103 Argentina Single Packaged Air 

Conditioners Units by Volume 


Table 5.104 Argentina Single Packaged Air 



Table 5.105 Argentina Rooftop Components by 


Table 5.106 Argentina Rooftop Refrigeration 



Table 5.107 Argentina Indoor Components by 


Table 5.108 Argentina Indoor Refrigeration 



Table 5.109 Argentina Chiller Units by Volume 


Table 5.110 Argentina chiller Units by Value 


Table 5.111 Argentina Chiller Components by 


Table 5.112 Argentina Chiller Refrigeration 



Table 5.113 Argentina AHU and FCU Units by 


Table 5.114 Argentina AHU an FCU Units by 


Table 5.115 Brazil Windows and Portable Air 









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LIST OF TABLE 




Table 5.119 Brazil Split Air Conditioners Units 


Table 5.120 Brazil Mini Splits Air Conditioners 


Table 5.121 Brazil Mini Splits Ductless 


Table 5.122 Brazil Ductless Mini Splits 



Table 5.123 Brazil Ducted Mini Splits 


Table 5.124 Brazil Ducted Mini Splits 



Table 5.125 Brazil Single Packaged Air 



Table 5.126 Brazil Single Packaged Air 



Table 5.127 Brazil Rooftop Components by 


Table 5.128 Brazil Rooftop Refrigeration Cycle 


Table 5.129 Brazil Indoor Components by Value 


Table 5.130 Brazil Indoor Refrigeration Cycle 


Table 5.131 Brazil Chiller Units by Volume 


Table 5.132 Brazil chiller Units by Value (2016- 


Table 5.133 Brazil Chiller Components by Value 


Table 5.134 Brazil Chiller Refrigeration Cycle 


Table 5.135 Brazil AHU and FCU Units by 


Table 5.136 Brazil AHU an FCU Units by Value 


Table 5.137 Rest of South America Windows 

and Portable Air Conditioners Units 



and Portable Air Conditioners Units 



and Portable Air Conditioners 



and Portable Air Conditioners 



Table 5.141 Rest of South America Split Air 



Table 5.142 Rest of South America Mini Splits 

Air Conditioners Units by Value 


Table 5.143 Rest of South America Mini Splits 

Ductless Components by Value 


Table 5.144 Rest of South America Ductless 

Mini Splits Refrigeration Cycle 


Table 5.145 Rest of South America Ducted Mini 

Splits Components by Value (2016- 


Table 5.146 Rest of South America Ducted 

Mini Splits Refrigeration Cycle 


Table 5.147 Rest of South America Single 

Packaged Air Conditioners Units by 


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LIST OF TABLE 

Table 5.148 Rest of South America Single 

Packaged Air Conditioners Units by 


Table 5.149 Rest of South America Rooftop 


Table 5.150 Rest of South America Rooftop 



Table 5.151 Rest of South America Indoor 


Table 5.152 Rest of South America Indoor 



Table 5.153 Rest of South America Chiller Units 


Table 5.154 Rest of South America chiller Units 


Table 5.155 Rest of South America Chiller 


Table 5.156 Rest of South America Chiller 



Table 5.157 Rest of South America AHU and 

FCU Units by Volume (2016-2023) 

Table 5.158 Rest of South America AHU an FCU 


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LIST OF FIGURES 

Figure 1 Americas HVACR Market Size (‘000’ 

units) Snapshot 

Figure 2 Americas HVACR Product Market Size 

Snapshot 

Figure 3 Americas HVACR Component Market 

Size ($Million), 2016-2023 

Figure 4 North America HVACR Country Market 

Snapshot (‘000’ units), 2016-2023 

Figure 5 South America HVACR Country Market 

Snapshot (‘000’ units), 2016-2023 

Figure 1.1 Americas HVACR Market 

Segmentation 

Figure 1.2 Secondary data sources 

Figure 1.3 Bottom up Approach 

Figure 1.4 Americas HVACR Market Influencing 

Factors 

Figure 1.5 Assumptions and Limitations 

Figure 2.1 Market Dynamic Snapshot 

Figure 2.2 Market Drivers Impact Analysis 

Figure 2.3 Total construction spending 

($Billion), Jan’2016-Jan’2017 

Figure 2.4 HVACR unit Replacement rate 1980- 

2014 

Figure 2.5 Market Challenges Impact Analysis 

Figure 2.6 Opportunities Impact Analysis 

Figure 3.1 Competitive Landscape Snapshot 

Figure 3.2 Market Share Analysis of HVACR 

Product Manufacturers, by Value 

(2016) 

Figure 3.3 Recent Market Development Strategy 

Snapshot Analysis 

Figure 3.4 Porter’s Five Forces Analysis for 

Americas HVACR Equipment Market 

Figure 4.1 Industry Analysis Snapshot 

Figure 4.2 Key elements of the Value Chain 

Figure 4.3 Key Players in Different Elements 

Figure 5.1 Americas HVACR classification 

Figure 5.2 Americas Volume (‘000 units), 2016- 

2023 

Figure 5.3 Americas Value ($Million), 2016- 

2023 

Figure 5.4 Americas HVACR Product 

Classification 

Figure 5.5 Components of a Split Ac 

Figure 5.6 Outdoor Unit of a Split Air 

Conditioner 

Figure 5.7 Indoor Unit of a Split Air Conditioner 

Figure 5.8 Packaged Air Conditioners Types 

Figure 5.9 Packaged Air Conditioners with Water 

Cooled Condenser 

Figure 5.10 Packaged Air Conditioner with Air 

Cooled Condenser 

Figure 5.11 Types of Chillers 

Figure 5.12 Refrigeration Cycle: Chillers 

Figure 5.13 Vapour Compression Cycle: Chillers 

Figure 5.14 Absorption Refrigeration Cycle: 

Chillers 

Figure 5.15 Types of Absorption Chillers 

Figure 5.16 HVACR Components Classification 

Figure 5.17 Refrigeration Cycle 

Figure 6.1 Daikin: Overall Financials (2014- 

2016) 

Figure 6.2 Daikin: Revenue by Geography 

(2014-2016) 

Figure 6.3 Development Strategies Adopted by 

the Company in Americas (2014- 


Figure 6.4 Daikin: SWOT Analysis 

Figure 6.5 L.G: Overall Financials (2014-2015) 

Figure 6.6 L.G: Revenue by Business Segments 

(2014-2015) 

Figure 6.7 L.G: Revenue by Geography (2014- 

2015) 

Figure 6.8 Development strategies adopted by 

the company in Americas (2014- 

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Figure 6.9 L.G. Corporation: SWOT Analysis 

Figure 6.10 Midea: overall financials (2014- 

2015) 

Figure 6.11 Midea: Revenue by Business 

Segment (2014-2015) 

Figure 6.12 Midea: Revenue by Geography 

(2014-2015) 

Figure 6.13 Development strategies adopted by 

the company in Americas (2014- 


Figure 6.14 Midea: SWOT Analysis 

Figure 6.15 United Technologies: Overall 

Financials (2014-2016) 

Figure 6.16 United Technologies: Revenue by 

Business Segment (2014-2016) 

Figure 6.17 United Technologies: Revenue by 

Geography (2014-2016) 

Figure 6.18 United Technologies: SWOT 

Analysis 

Figure 6.19 Samsung: Overall Financials (2014- 

2015) 

Figure 6.20 Samsung: Revenue by Business 

Segment (2014-2015) 

Figure 6.21 Samsung: Revenue by Geography 

(2014-2015) 




Figure 6.23 Samsung: SWOT Analysis 

Figure 6.24 Panasonic: Overall Financials 

(2014-2016) 

Figure 6.25 Panasonic: Revenue by business 

segment (2014-2016) 

Figure 6.26 Panasonic: Revenue by Geography 

(2014-2016) 

Figure 6.27 Panasonic: SWOT Analysis 

Figure 6.28 Johnson Controls: Overall Financials 

(2014-2016) 

Figure 6.29 Johnson Controls: Revenue by 


Figure 6.30 Johnson Controls: Revenue by 





Figure 6.32 Johnson Controls: SWOT Analysis 

Figure 6.33 Ingersoll Rand: Overall Financials 

(2014-2015) 

Figure 6.34 Ingersoll Rand: Revenue by 


Figure 6.35 Ingersoll Rand: Revenue by 





Figure 6.37 Ingersoll Rand: SWOT Analysis 

Figure 6.38 Fujitsu: Overall Financials (2014- 

2016) 

Figure 6.39 Fujitsu: Net Revenue by Business 

Segment, 2014-2016 

Figure 6.40 Fujitsu: Revenue Across Different 

Geographies, 2014-2016 




Figure 6.42 Fujitsu: SWOT Analysis 

Figure 6.43 Toshiba: Overall Financials, 2014- 

2016 

Figure 6.44 Toshiba: Net revenue by Business 

Segment, 2014-2016 

Figure 6.45 Toshiba: Revenue Across Different 

Geographies, 2014-2016 




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Figure 6.47 Toshiba: SWOT Analysis 

Figure 6.48 Mitsubishi: Overall Financials 

(2014-2016) 

Figure 6.49 Mitsubishi: Revenue by Business 

Segments (2014-2016) 




Figure 6.52 Mitsubishi: SWOT Analysis 

Figure 6.53 Lennox International Inc.: Overall 

Financials (2014-2016) 

Figure 6.54 Lennox International: Revenue by 

Business Segments (2014-2016) 

Figure 6.55 Lennox International: Revenue by 


Figure 6.56 Lennox International: SWOT 

Analysis 

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Americas HVACR Market Forecast 2017-2023

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