United States HVAC Equipment and Services Market Size, Share and Growth Analysis Report: Forecast Trends and Outlook 2024-2032

United States HVAC Equipment and Services Market Outlook

The increasing temperatures and concerns over climate change has grown the demand for air conditioning in homes and offices, which further fuels the need for HVAC equipment and services in both commercial and residential spaces. As per industry reports, around 75% of US homes are equipped with air conditioners, which has also contributed to growth of the United States HVAC equipment and services market.

Government incentives also play a major role in encouraging the use of HVAC systems. For instance, New Jersey has launched a program called ‘COOLAdvantage’, which offers tax credits and rebates for installation of energy-efficient equipment. This has prompted consumers to invest in modern HVAS equipment and services, contributing to United States HVAC equipment and services market revenue. In response, National Renewable Energy Laboratory (NREL) and Blue Frontier have partnered to develop a highly efficient HVAS system by 2025, which can reduce carbon emissions by 85% over traditional refrigerant systems and save energy.

Rising Temperatures Across the Country Has Driven United States HVAC Equipment and Services Market Growth

• Across equipment type, air conditioners are projected to lead with a CAGR of 7.7%, driven by increasing demand for cooling systems due to rising temperatures and urbanization. 
• Furnaces follow with a CAGR of 7.3%, reflecting the ongoing need for efficient heating solutions in colder regions. 
• Heat pumps are expected to grow at a CAGR of 6.9%, supported by their dual functionality for both heating and cooling, which is gaining popularity in energy-conscious markets. 
• As per United States HVAC equipment and services industry analysis, boilers are projected to grow at 6.5%, largely due to their continued use in older buildings and industrial applications. 
• The others category, growing at 6.1%, includes various ancillary equipment types that, while important, are expected to grow at a slightly slower pace compared to the core HVAC equipment categories.

Development of New Houses Has Led to an Adoption of HVAC Systems, Impacting United States HVAC Equipment and Services Market Trends

The market by end use from 2024 to 2032 is expected to grow at different rates across various sectors. The residential sector is projected to lead with a CAGR of 7.6%, driven by the increasing demand for energy-efficient HVAC systems in homes, particularly as new housing developments rise, and existing homes upgrade their systems. The commercial sector follows with a CAGR of 7.1%, supported by the expansion of office spaces, retail outlets, and hospitality businesses, all of which require reliable HVAC solutions, resulting in HVAC equipment and services demand in United States. The industrial sector, with a CAGR of 6.5%, reflects steady growth due to ongoing investments in industrial facilities and the need for precise climate control in manufacturing and storage environments.

Far West Leads United States HVAC Equipment and Services Market Share, Followed by Rocky Mountain, and Southwest Regions

• Among regions, the Far West leads with a CAGR of 7.9%, driven by high demand for energy-efficient systems and stringent environmental regulations. 
• The Rocky Mountain region follows at 7.3%, supported by urbanisation and new construction projects.
• The Southwest (7.0%) and Southeast (6.7%) also exhibit strong growth due to expanding residential and commercial developments. 
• New England (6.3%) and the Mideast (5.8%) regions are projected to see moderate HVAC equipment and services demand growth in United States as older buildings are being upgraded with more efficient HVAC systems. 
• The Plains (5.4%) and Great Lakes (5.1%) have slower growth, reflecting stable but less dynamic markets in those regions.

Key Questions Answered in the Report:

• How has the United States HVAC equipment and services market performed historically, and what are the growth expectations for the future? 
• What are the primary factors influencing demand and growth in the United States HVAC equipment and services market? 
• What are the key segments within the United States HVAC equipment and services market, and how are they expected to evolve over the forecast period? 
• What are the major challenges and opportunities facing stakeholders in the United States HVAC equipment and services market? 
• Who are the key players in the United States HVAC equipment and services market, and what strategies are they employing to maintain a competitive edge? 
• What are the regulatory and policy factors influencing the United States HVAC equipment and services market globally or regionally? 
• How competitive is the United States HVAC equipment and services market according to Porter's five forces analysis, including factors like bargaining power of buyers and suppliers? 
• What are the current trends shaping the United States HVAC equipment and services market landscape, and how are they expected to evolve in the future? 
• How are technological advancements impacting the United States HVAC equipment and services market, and what role do innovation and R&D play in driving growth? 
• What are the consumer preferences and buying behavior trends influencing the United States HVAC equipment and services market? 
• How sustainable are current growth rates in the United States HVAC equipment and services market, and what factors could potentially disrupt these trends? 
• What are the regional dynamics within the United States HVAC equipment and services market, and how do they contribute to overall market growth? 
• What are the economic factors influencing the United States HVAC equipment and services market, such as GDP growth, inflation rates, and currency fluctuations? 
• How are demographic shifts, such as aging populations or urbanization trends, affecting demand in the United States HVAC equipment and services market? 
• What are the key strategic partnerships, mergers, and acquisitions shaping the competitive landscape of the United States HVAC equipment and services market? 
• What are the regulatory and legal frameworks impacting the United States HVAC equipment and services market globally or in key regions? 
• How are changing consumer lifestyles and preferences influencing product or service demand within the United States HVAC equipment and services market? 
• What are the emerging market trends and niche opportunities within the United States HVAC equipment and services market that stakeholders should be aware of? 
• How resilient is the United States HVAC equipment and services market to external shocks or disruptions, such as geopolitical tensions or natural disasters? 
• What are the potential barriers to market entry and growth for new players in the United States HVAC equipment and services market?

Key Benefits for Stakeholders:

Expert Market Research's industry report provides a comprehensive quantitative analysis of various market segments, historical and current market trends, and forecasts the dynamics of the United States HVAC equipment and services market spanning from 2018 to 2032.

The research report delivers up-to-date insights into the market drivers, challenges, and opportunities shaping the United States HVAC equipment and services market.

Stakeholders can leverage Porter's five forces analysis to assess the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. This analysis aids in evaluating the competitiveness and attractiveness of the United States HVAC equipment and services market. 

The competitive landscape section enables stakeholders to gain a deep understanding of their competitive environment. It offers insights into the current market positions of key players, their strategies, and their market shares. 

Additionally, the report highlights emerging trends, regulatory influences, and technological advancements that are pivotal for stakeholders navigating the United States HVAC equipment and services market landscape.