United States HVAC Market Insights Forecasts to 2033

• The United States HVAC Market Size was valued at USD 14.94 Billion in 2023.
• The Market is growing at a CAGR of 6.26% from 2023 to 2033
• The United States HVAC Market Size is Expected to Reach USD 27.41 Billion by 2033

The United States HVAC Market is Anticipated to exceed USD 27.41 Billion by 2033, growing at a CAGR of 6.26% from 2023 to 2033.  

Market Overview

Heating, ventilation, and air conditioning, or HVAC, is a system for regulating the temperature, humidity, and purity of air in a room or confined environment. Such appliances are employed in a wide variety of commercial, residential, and industrial settings, including family homes, apartments, hotels, hospitals, trains, airplanes, and ships. Ventilation is an important part of HVAC due to it helps to maintain excellent indoor air quality by removing moisture, smells, smoke, dust, controlling temperature, and replenishing oxygen. It also provides thermal comfort by adjusting the temperature indoors based on the user's preferences. It enhances interior air quality by eliminating contaminants and humidity while also bringing fresh outdoor air. Proper heating, ventilation, and air conditioning in a setting can boost productivity and efficiency, improve health, and promote better sleep and mood. It also improves the life cycle, strength, and longevity of items, equipment, and buildings by removing excess moisture and unwanted particles from the environment. Residential HVAC systems include refrigerators, air conditioners, heaters, and coolers.

Report Coverage

This research report categorizes the market for the United States HVAC market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United States HVAC market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the United States HVAC market.

Driving Factors

The climate change situation has gotten worse over the previous century, with the worst temperatures recorded recently. Global warming has raised mercury levels in many states. They have also kept mercury levels below normal. The market's need for HVAC systems has increased due to high-temperature variations. Furthermore, rising air pollution in metropolitan areas, industrial disasters, and other environmental concerns have all led to poor air quality and increased demand for HVAC equipment. As a result, rising temperatures and variations will fuel demand for HVAC systems in the United States.

Restraining Factors

HVAC systems operate Continuously and require frequent maintenance. To work at their best, they require professional treatment on a regular basis. However, lack of awareness, indifference, and carelessness on the part of users frequently result in HVAC system failures. This has an influence on brand reputation and sales, slowing market growth.

Market Segmentation

The United States HVAC market share is classified into offering and end-user.

• The equipment segment is expected to hold the largest market share through the forecast period.    

The United States HVAC market is segmented by offering into equipment and services. Among these, the equipment segment is expected to hold the largest market share through the forecast period. The equipment category is further divided into healing, furnaces, boilers, chillers, and air cleaners. The services area is also divided into installation, upgrade/replacement, maintenance, repair, and consulting. Due to its low cost, the equipment category has the biggest market share and is in high demand among home customers.

• The residential segment is expected to hold a significant market share of the United States HVAC market during the forecast period.       

Based on the end-user, the United States HVAC market is divided into residential, commercial, and industrial. Among these, the residential segment is expected to hold a significant market share of the United States HVAC market during the forecast period. Consumers in this region have a high discretionary income and spending power. As a result, there is an increase in the demand for residential HVAC goods and systems. Meanwhile, as the country's commercial facilities such as offices, retail malls, hotels, and other commercial facilities develop, the commercial sector is predicted to grow at a quicker rate during the forecast period.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the United States HVAC market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• EMCOR Services
• National HVAC Services
• Southland Industrial Energy
• ACCO Engineered Systems
• United Mechanical
• Carrier Corporation
• Daikin Industries, Ltd.
• Trane Technologies
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In February 2022, The US-based HVAC home service acquisition firm Redwood Services recently revealed that it has acquired a stake in Arlinghaus Plumbing, Heating, and Air Conditioning.

Market Segment

This study forecasts revenue at the US, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the United States HVAC Market based on the below-mentioned segments:

United States HVAC Market, By Offering

• Equipment
• Services

United States HVAC Market, By End-User

• Residential
• Commercial
• Industrial