USD 999.40 million
North America HVAC Cables Market Size, Share, Growth Analysis, By Type(Control cables, power cables, communication cables, and others), By Application(Residential, commercial, industrial, and institutional settings), By Region - Industry Forecast 2025-2032
Report ID:
SQMIR50A2021 |
Region:
Regional |
Published Date: April, 2024
Pages:
177
|Tables:
65
|Figures:
75
North America HVAC Cables Market Insights
North America HVAC Cables Market size was valued at USD 1051.37 Million in 2023 and is poised to grow from USD 1106.04 Million in 2024 to USD 1659.19 Million by 2032, growing at a CAGR of 5.2% during the forecast period (2025-2032).
The North America HVAC (Heating, Ventilation, and Air Conditioning) cables market is a vital component of the region's construction and building services industry. HVAC cables play a crucial role in connecting various heating, cooling, and ventilation systems within residential, commercial, and industrial buildings. This market is characterized by robust demand driven by factors such as urbanization, increased construction activities, and a growing focus on energy efficiency and indoor air quality.
The United States and Canada are the key contributors to the HVAC cables market in North America. The United States, in particular, boasts a strong construction sector, with commercial and residential projects driving the demand for HVAC systems and related cables. Energy-efficient HVAC systems are gaining prominence in the region, further boosting the requirement for specialized cables that can handle the power and control needs of these systems.
Additionally, the region's emphasis on green building standards and regulations is propelling the adoption of energy-efficient HVAC systems, driving the demand for cables that meet these specifications. As businesses and households increasingly prioritize sustainability and energy efficiency, the North America HVAC cables market is expected to witness steady growth in the coming years, with innovations in cable technology and materials enhancing system performance and reliability.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Power cables
Fastest Growth
Power cables
Growth Rate
5.2% CAGR
Global North America HVAC Cables Market ($ Bn)
Country Share for North America Region (%)
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North America HVAC Cables Market Segmental Analysis
The North America HVAC Cables Market is segmented by Type, Application, Voltage, Installation and Region. Based on Type the market is segmented as, control cables, power cables, communication cables, and others. Based on Application the market is segmented as, residential, commercial, industrial, and institutional settings. Based on Voltage the market is segmented as, < 110 kV, 110 kV – 220 kV, > 220 kV. Based on Installation the market is segmented as, Overhead, Submarine, and Underground. Regional the market is segmented as, United States, Canada, Mexico, and Guatemala.
Analysis By Type
In the North America HVAC (Heating, Ventilation, and Air Conditioning) cables market, the "Power cables" segment is currently dominating the market. Power cables play a vital role in HVAC systems, transmitting electrical power to various components such as motors, compressors, and heating elements. Given the extensive use of power cables in HVAC applications, especially in commercial and industrial settings, this segment holds a prominent share of the market. The reliability, durability, and efficiency of power cables are crucial in ensuring the smooth operation of HVAC systems, which further solidifies their dominance.
Conversely, the "Communication cables" segment is the fastest-growing in the North America HVAC cables market. With the increasing adoption of smart HVAC systems and building automation technologies, communication cables are in high demand. These cables facilitate data transfer and communication between different HVAC components, enabling remote monitoring, control, and energy management. As the trend toward smart and energy-efficient HVAC systems continues to grow, the demand for communication cables is expected to surge, making this segment the fastest-growing in the market.
Analysis By Application
In the North America HVAC (Heating, Ventilation, and Air Conditioning) cables market, the "Commercial" segment is currently dominating the market. Commercial buildings, including offices, shopping malls, hotels, and restaurants, often require extensive HVAC systems to maintain comfortable indoor environments. These systems rely on a complex network of cables and wires to power and control heating, cooling, and ventilation equipment. The demand for HVAC cables in commercial settings is high due to the substantial size and energy requirements of such buildings. As a result, the commercial segment accounts for a significant share of the HVAC cables market in North America.
Conversely, the "Residential" segment is the fastest-growing segment in the North America HVAC cables market. This growth is driven by an increasing focus on energy-efficient and smart home HVAC systems. Homeowners are adopting advanced HVAC technologies to enhance comfort and reduce energy consumption. As a result, the residential segment is experiencing a surge in demand for specialized HVAC cables designed to support these modern systems, making it the fastest-growing segment in the market.
Global North America HVAC Cables Market By Type
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North America HVAC Cables Market Regional Insights
In the North America HVAC (Heating, Ventilation, and Air Conditioning) cables market, the largest country is the United States. The U.S. leads the region due to its vast commercial and residential construction activities, as well as its advanced HVAC infrastructure. The country's HVAC industry benefits from a robust economy, which fuels investments in both new construction and retrofitting projects, driving the demand for HVAC cables.
The second-largest country in the North America HVAC cables market is Canada. Canada also boasts a thriving HVAC industry, with a focus on energy efficiency and sustainability. The country's climate variations and the need for effective HVAC systems in extreme weather conditions contribute to the demand for HVAC cables. Additionally, government initiatives and regulations promoting energy-efficient buildings further stimulate the adoption of advanced HVAC systems and related cables in Canada.
Global North America HVAC Cables Market By Region
- Largest
- Fastest
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North America HVAC Cables Market Dynamics
Drivers
Growing Construction Activity:
- The continued growth in construction activity, particularly in the commercial and residential sectors, is a significant driver of the North America HVAC cables market. As new buildings are constructed and existing structures undergo renovations, the demand for HVAC cables to support heating, cooling, and ventilation systems increases.
Energy Efficiency Regulations:
- Stringent energy efficiency regulations and a growing emphasis on sustainable building practices drive the adoption of energy-efficient HVAC systems. This, in turn, boosts the demand for specialized HVAC cables designed to support these systems, as they play a critical role in improving overall energy efficiency.
Restraints
Market Competition:
- The HVAC cables market in North America is highly competitive, with several established players. Intense competition can exert downward pressure on prices and profit margins, affecting the overall market growth.
Fluctuating Raw Material Costs:
- The prices of raw materials, such as copper and aluminum, which are commonly used in HVAC cable manufacturing, can be subject to fluctuations in the global commodity market. These fluctuations can impact manufacturing costs and, subsequently, product pricing.
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North America HVAC Cables Market Competitive Landscape
The North America HVAC (Heating, Ventilation, and Air Conditioning) cables market features a competitive landscape with the presence of key players such as General Cable, Southwire Company, LS Cable & System, Prysmian Group, and Nexans, among others. These companies are actively engaged in product innovations, strategic partnerships, and acquisitions to expand their market share and cater to the growing demand for HVAC cables in the region. With a focus on quality, durability, and compliance with industry standards, these players compete on factors like pricing, product range, and technology advancements to gain a competitive edge. Additionally, they aim to address the evolving needs of the HVAC industry, especially in the context of energy efficiency and sustainability, by offering innovative cable solutions tailored to various applications in residential, commercial, industrial, and institutional settings.
Top Player’s Company Profile
- Prysmian Group
- Nexans
- Southwire Company, LLC
- General Cable Technologies Corporation
- Encore Wire Corporation
- Coleman Cable, Inc.
- Belden Inc.
- Anixter International Inc.
- Allied Wire & Cable
- AFC Cable Systems, Inc.
- Cerro Wire LLC
- Superior Essex
- General Cable Technologies Corporation
- Paige Electric Co., L.P.
- The Okonite Company
- Kingsmill Industries (UK) Ltd.
- IEWC - International Wire & Cable
- General Cable Technologies Corporation
- Omni Cable Corporation
- Carol Brand (A General Cable Brand)
Recent Developments
- In March 2024, Prysmian Group started mass production of 880 kilometers of export and inter-array cables needed for Dominion Energy’s 2.6 GW Coastal Virginia Offshore Wind, Prysmian Group’s second offshore wind project under construction in the U.S. Engineers at Prysmian’s centers of manufacturing excellence for submarine cable production have been preparing for a year to ensure perfect execution of the company’s largest-ever production run for High Voltage Alternating Current (HVAC) export cables: 9 independent Export Cables for a total length of 566 km.
- In December 2023, Italian cable manufacturer Prysmian completed cable installation at the 806MW Vineyard Wind 1 offshore Massachusetts, US.
- In November 2023, Joint venture (JV) partners Orsted and New England utility Eversource installed and successfully tested the first US-made offshore wind export cable at their 132MW South Fork array, a milestone for the challenged US supply chain. The 68-mile (110 km), three-phase 138kV high voltage alternating current (HVAC) line was manufactured by France’s Nexans out of its plant in South Carolina for the project, located 55km off Montauk Point at the tip of Long Island.
North America HVAC Cables Key Market Trends
-
Energy Efficiency Focus: Energy efficiency is a dominant trend driving the HVAC cables market in North America. Governments and organizations are increasingly emphasizing the importance of energy-efficient HVAC systems to reduce energy consumption and lower greenhouse gas emissions. As a result, HVAC cables designed for energy-efficient systems are in high demand, featuring advanced insulation and materials to enhance overall system performance.
-
Smart Building Integration: The integration of smart building technologies is on the rise in North America. Smart HVAC systems, equipped with sensors and automation, are becoming more prevalent in commercial and residential buildings. These systems require specialized cables for data transmission and control. The HVAC cables market is witnessing a surge in demand for cables that can support the communication and control requirements of smart HVAC systems.
North America HVAC Cables Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component type’s team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest analysis, the North America HVAC (Heating, Ventilation, and Air Conditioning) cables market is experiencing robust growth, underpinned by several key factors within the region. North America, as a whole, holds a prominent position in this market, driven by the presence of various segments, including residential, commercial, industrial, and institutional applications. The commercial segment is currently dominating the North America HVAC cables market, primarily due to the extensive HVAC requirements in commercial buildings such as offices, shopping malls, hotels, and restaurants. These structures rely on sophisticated HVAC systems, necessitating a comprehensive network of cables and wires for power supply and control. Simultaneously, the residential segment is the fastest-growing segment in the market. The adoption of energy-efficient and smart HVAC systems in North American homes has surged, driven by a growing focus on comfort and sustainability. As homeowners seek modern HVAC technologies to enhance energy efficiency, the demand for specialized HVAC cables to support these systems is on the rise. Additionally, stringent energy regulations and environmental concerns are propelling the need for efficient HVAC cables, shaping the market's growth trajectory in North America.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 999.40 million |
| Market size value in 2031 | USD 1577.18 million |
| Growth Rate | 5.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on North America HVAC Cables Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on North America HVAC Cables Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the North America HVAC Cables Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the North America HVAC Cables Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the North America HVAC Cables Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the North America HVAC Cables Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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