U.S. HVAC Systems Market Is Poised For Unprecedented Growth Of USD 26.93 Billion By 2030

U.S. HVAC Systems Industry Overview

The U.S. HVAC systems market size is anticipated to reach USD 26.93 billion by 2030, registering a CAGR of 5.6% over the forecast period, according to a new study by Grand View Research, Inc. Diverse and changing climatic conditions across the U.S. remain the prime factor favoring the HVAC equipment demand. Furthermore, to this the U.S. is a large country in terms of a geographic area as such the weather changes from extreme cold to extreme hot throughout the year across states, cities, or coasts, making HVAC installation in residential spaces a mandate. The need to control building temperature irrespective of the outdoor conditions helps the HVAC business thrive in the country. From the supply-side, stringent norms by regulatory bodies in the country to lower power consumption and carbon emission will play a key role in driving the market growth.

U.S. HVAC Systems Market Segmentation

Grand View Research has segmented the U.S. HVAC systems market on the basis of product, end-use, and region:

Based on the Product Insights, the market is segmented into Heating, Ventilation and Cooling.

• The cooling product segment dominated the market in 2021. The segment accounted for the largest share of more than 56.7% of the total revenue in the same year.
• The cooling segment is further projected to retain its dominant market position expanding at the fastest growth rate during the forecast period.
• The ventilation product segment is estimated to register a significant growth rate over the next eight years as the ventilation is pivotal to any closed space to remove odor, pollutants, humidity, etc.

Based on the End-use Insights, the market is segmented into Residential, Commercial and Industrial.

• The demand for HVAC systems in the commercial end-use sector is anticipated to witness the fastest growth rate of more than 6.00% from 2022 to 2030.
• The growth of the commercial segment can be attributed to the rapidly expanding real-estate sector in the U.S., particularly commercial spaces, such as malls, hotels, airports, and offices.
• HVAC also forms an integral part of the industrial sector, particularly in manufacturing plants or cold chain storage spaces.
• It is critical to maintaining the temperature in such spaces to maintain the quality of the products and, hence, the demand for HVAC systems is gaining traction in the industrial end-use segment.

U.S. HVAC Systems Regional Outlook

• Northeast
• Southeast
• Midwest
• Southwest
• West

Key Companies Profile & Market Share Insights

The industry is competitive and moderately consolidated with vendors with a global presence dominating the space. In addition, companies are also engaging in inorganic growth strategies, such as mergers & acquisitions, strategic partnerships, and geographical expansions, to stay afloat in the competitive market scenario.

Some prominent players in the U.S. HVAC Systems market include

• Carrier Corp.
• Daikin Industries, Ltd.
• Emerson Electric Co.
• Johnson Controls International plc
• Lennox International, Inc.
• Trane Technologies

Order a free sample PDF of the U.S. HVAC Systems Market Intelligence Study, published by Grand View Research.