Us HVAC Fan and Evaporator Coil Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
HVAC Fan and Evaporator Coil Market was valued at USD 8.5 Billion in 2022 and is projected to reach USD 12.0 Billion by 2030, growing at a CAGR of 5.2% from 2024 to 2030.
The U.S. HVAC Fan and Evaporator Coil Market is experiencing significant growth, driven by increasing demand for energy-efficient climate control solutions across residential, commercial, and industrial sectors. In 2023, the market was valued at approximately $8.2 billion and is projected to grow at a compound annual growth rate (CAGR) of 5.1% between 2024 and 2032. This growth is largely attributed to rising energy costs, heightened environmental awareness, and stringent government regulations promoting energy efficiency. Consumers are increasingly seeking HVAC systems that offer comfort while minimizing energy consumption and costs. citeturn0search1
In the U.S., the HVAC Fan and Evaporator Coil Market is estimated to reach $8,510.2 million in 2023, with a CAGR of 6.0% from 2023 to 2030. The market is intricately linked to the construction and real estate sectors, with the burgeoning demand for residential and commercial spaces amplifying the need for efficient and reliable climate control solutions. As urbanization continues to reshape skylines, the HVAC industry is at the forefront of creating environments that are not only comfortable but also align with contemporary architectural trends. citeturn0search0
The market is segmented into two main components: Fan Coil and Evaporator Coil. In 2020, the Fan Coil segment garnered a value of $2,297.2 million, while the Evaporator Coil segment saw a valuation of $4,895.3 million during the same period. The Fan Coil segment holds the maximum share in the market and is anticipated to grow at a CAGR of 5.3% in the coming years. This segment plays a crucial role in HVAC systems by facilitating air movement across the evaporator coil to enable heat exchange. The growth of this segment is driven by increasing demand for energy-efficient HVAC systems, rising construction activities, and the need for improved indoor air quality. Technological advancements, such as the development of smart and variable-speed fans, are also contributing to market expansion. citeturn0search1
In terms of end-use industries, the market is divided into residential, commercial, and industrial sectors. The industrial segment holds the maximum share in the market, accounting for around 49.7% of the total market share, and is anticipated to grow at a CAGR of 5.2% in the forecasted timeframe. This segment is driven by the increasing demand for efficient climate control solutions in large-scale manufacturing facilities, warehouses, and industrial plants. Factors such as the rise in industrial automation, stringent energy efficiency regulations, and the expansion of cold storage facilities are propelling growth in this segment. citeturn0search1
Major players in the U.S. HVAC Fan and Evaporator Coil Market include Carrier Global Corporation, Daikin U.S. Corporation, Johnson Controls Inc. (York), Lennox International Inc., Nortek Global HVAC LLC, Rheem Manufacturing Company, and Trane Technologies, among others. These companies are focusing on technological advancements, enhancing energy efficiency, and improving indoor air quality to meet the growing demand for HVAC systems. citeturn0search8
Overall, the U.S. HVAC Fan and Evaporator Coil Market is poised for substantial growth, driven by technological innovations, increasing demand for energy-efficient solutions, and the expansion of the construction and real estate sectors. Stakeholders in the market are focusing on developing advanced products and solutions to meet the evolving needs of consumers and businesses alike.
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Coilmaster Corporation
Ekocoil
EVAPCO Alcoil Inc.
Grupporeco
HC Coils Ltd.
Johnson Controls
Lennox International Inc.
Markair Inc.
Mistcold Sales and Services Pvt. Ltd.
Yehjeh Co.
Ltd.
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global HVAC Fan and Evaporator Coil Market
Standard DC Fans
ECM (Electronically Commutated Motor) Fans
Axial Fans
Centrifugal Fans
Coil Types
Residential
Commercial
Industrial
Hospitality
Healthcare
Homeowners
Contractors
Building Managers
Original Equipment Manufacturers (OEMs)
Facility Managers
Conventional Technology
Energy-efficient Technology
Smart Technology
Direct Sales
Wholesale Distributors
Retail Outlets
Online Platforms
OEM Partnerships
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global HVAC Fan and Evaporator Coil Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global HVAC Fan and Evaporator Coil Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global HVAC Fan and Evaporator Coil Market, By Type
6. Global HVAC Fan and Evaporator Coil Market, By Application
7. Global HVAC Fan and Evaporator Coil Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global HVAC Fan and Evaporator Coil Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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