North America HVAC Compressor Market Report and Forecast 2024-2032

North America HVAC Compressor Market Outlook

The North America HVAC compressor market reached an approximate value of USD 908.73 million in 2023. The market is assessed to grow at a CAGR of 5.90% between 2024 and 2032, reaching a value of around USD 1,522.29 million by 2032.

Key Trends in the Market

An HVAC compressor is one of the most important parts found in heating, ventilation, and air conditioning (HVAC) systems, usually located in the outdoor unit or the heat pump. It plays a crucial role in the cooling process by compressing refrigerant gas and pumping it through the system. It is driven by an electric motor and is responsible for circulating refrigerant through the HVAC system's refrigeration cycle.

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• The North America HVAC compressors market value is likely to surge during the forecast period due to the rising awareness regarding the benefits of energy-efficient HVAC systems. With the implementation of various standards aimed at improving the performance and efficiency of HVAC systems by federal and state governments, HVAC companies are proactively diversifying their product portfolio to include energy-efficient solutions, including compressors.

• There is a growing awareness about indoor air quality and its impact on human health and comfort. Customers are also becoming more aware of the crucial role of HVAC systems in maintaining optimal indoor air quality by regulating temperature, humidity, and ventilation. Thus, the rising focus on indoor air quality has augmented the demand for advanced HVAC compressors.

• The rapid integration of advanced technologies such as AI, IoT, and machine learning with HVAC systems enables the analysis of external data such as the number of occupants in a room, individual occupant comfort preferences, humidity levels, and outside temperature. This integration opens up new possibilities for optimising HVAC system performance and enhancing overall occupant experience.

Market Analysis

Based on the product, the market is segmented into single-stage scroll compressors, 2-stage scroll compressors, and variable speed scroll compressors. On the basis of country, the market bifurcations include the United States of America and Canada.

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The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the North America HVAC compressor market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.

• Danfoss A/S

• Emerson Electric Co.

• Daikin Industries Ltd.

• Mitsubishi Electric Corporation

• LG Corporation

• Hitachi, Ltd.

• Tecumseh Products Company LLC

• Panasonic Holdings Corporation

• Nidec Motor Corporation

• Mayekawa Mfg. Co., Ltd.

• GEA Group Aktiengesellschaft

• Others

Market Share by Product

Single-stage scroll compressors are expected to hold a significant share of the market as they are presented as a less complicated and cost-effective product. They are the most widely used compressors in household air cooling systems as they are compact and operate at a uniform speed. Moreover, these compressors have fewer moving parts, due to which they boast a smooth and quiet performance.

Market Share by Country

The United States is expected to account for a major portion of the North America HVAC compressor market share. The market in this country is being driven by the increasing deployment of emerging technologies, including IoT, AI, blockchain, machine learning, and others in HVAC systems.

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Furthermore, growing disposable incomes and the rising demand for HVAC equipment for personal comfort are fuelling the growth of the market.

Competitive Landscape

Danfoss A/S is a global company that engineers innovative solutions for energy efficiency, climate-friendly technologies, and infrastructure systems. The company was founded in 1933 in Nordborg, Denmark. The company has a diverse product portfolio that encompasses a wide range of technologies and applications.

Emerson Electric Co., commonly known as Emerson, is a multinational technology and engineering company based in the United States. It was founded in 1890 and its headquarters is located in Missouri, the United States. The company has since grown into a global leader in providing innovative solutions for a wide range of industries.

Daikin Industries Ltd. Is a global company that specialises in manufacturing and selling air conditioning, heating, ventilation, and refrigeration equipment. Established in 1924 and headquartered in Osaka, Japan, Daikin has developed and expanded to become a leading figure among air conditioning manufacturers, renowned for its innovative technology and high-quality products. The company operates with a strong focus on research and development.

Other market players in the North America HVAC compressor market include Mitsubishi Electric Corporation, LG Corporation, Hitachi, Ltd., Tecumseh Products Company LLC, Panasonic Holdings Corporation, Nidec Motor Corporation, and Mayekawa Mfg. Co., Ltd., and GEA Group Aktiengesellschaft, among others.

Key Highlights of the Report

North America HVAC Compressor Market Report Snapshots

North America HVAC Compressor Market Size

North America HVAC Compressor Market Share

North America HVAC Compressor Market Analysis

North America HVAC Compressor Companies