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
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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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