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United States HVAC Market Size, Trends, Report, Analysis: By Equipment: Heating, Ventilation, Cooling; By Implementation Type: New Constructions, Retrofits; By End Use: Residential, Commercial, Industrial; Regional Analysis; Market Dynamics: SWOT Analysis; Value Chain Analysis; Trade Data Analysis; Competitive Landscape; 2024-2032
United States HVAC Market Size
The United States HVAC market is projected to grow at a CAGR of 5.58% between 2024 and 2032.
United States HVAC Market Outlook
- The construction spending for March 2024 reached $2,083.9 billion, reflecting a marginal increase of 0.2 per cent.
- Annually, the U.S. replaces three million heating and cooling systems, spending approximately $14 billion on HVAC services and repairs.
- The U.S. HVAC service market, as per the U.S. Census Bureau, is forecast to grow at a steady pace during the forecast period.
United States HVAC Market Growth
The demand for furnaces in the United States HVAC market is driven by a combination of climatic necessity, technological advancement, economic consideration, and established fuel supply infrastructure.
Furnaces represent the predominant heating equipment in residential buildings, operating on various fuels like propane, electricity, natural gas, or oil. Furnaces, through heat transfer between indoor and outdoor spaces, offer both cooling and heating functionalities. While geothermal heat pumps boast higher efficiency despite requiring substantial initial investments, air-source heat pumps are more common in moderate climates.
In February 2024, Midea, a notable innovator in the HVAC industry, launched its primary national showroom and distribution hub in Queens, New York. This underscores Midea's commitment to broadening access to heat pump technology, aiming to seamlessly integrate it into American homes.
Heat pumps play a pivotal role in HVAC systems, providing efficient heating and cooling solutions for residential, commercial, and industrial settings. Renowned for their energy efficiency compared to conventional systems, they transfer heat rather than generate it, resulting in lower energy consumption. Modern heat pumps are engineered to operate effectively year-round, offering cooling in summers and warmth in winters, translating to significant savings on energy bills for homeowners and businesses.
United States HVAC Industry Segmentation
United States HVAC Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Equipment
- Heating
- Heat Pumps
- Furnaces
- Unitary Heaters
- Ventilation
- Air-Handling Units
- Air Filters and Purifiers
- Ventilation Fans
- Dehumidifiers and Humidifiers
- Others
- Cooling
- Unitary Air Conditioners
- VRF Systems
- Chillers
- Coolers
- Cooling Towers
- Others
Market Breakup by Implementation Type
- New Constructions
- Retrofits
Market Breakup by End Use
- Residential
- Commercial
- Industrial
Market Breakup by Region
- New England
- Mideast
- Great Lakes
- Plains
- Southeast
- Southwest
- Rocky Mountains
- Far West
United States HVAC Market Share
Residential HVAC systems offer year-round comfort with energy-efficient heating, ventilation, and air conditioning, improving indoor air quality and enabling convenient temperature control. These systems elevate home resale values, emphasising comfort and energy conservation. Commercial HVAC systems prioritise indoor comfort, boosting productivity and customer satisfaction while emphasising energy efficiency and regulatory compliance, promoting sustainability and a healthy work environment.
Leading Companies in the United States HVAC Market
- Lennox International Inc
- Carrier Global Corporation
- DAIKIN INDUSTRIES, Ltd
- Johnson Controls International plc.
- Robert Bosch GmbH
- LG Electronics Inc.
- Nortek Global HVAC LLC
- Mitsubishi Electric Corporation
- Midea Group Co. Ltd.
- Fujitsu General Ltd.
- Trane Technologies International Limited
- Others
The company excels in crafting and producing an extensive array of products and solutions spanning automotive technology, industrial equipment, consumer goods, and energy and building technology sectors.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Equipment |
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| Breakup by Implementation Type |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America HVAC Market Overview
8.1 Key Industry Highlights
8.2 North America HVAC Historical Market (2018-2023)
8.3 North America HVAC Market Forecast (2024-2032)
8.4 North America HVAC Market Share by Country
8.4.1 United States
8.4.2 Canada
9 United States HVAC Market Overview
9.1 Key Industry Highlights
9.2 United States HVAC Historical Market (2018-2023)
9.3 United States HVAC Market Forecast (2024-2032)
10 United States HVAC Market by Equipment
10.1 Heating
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Breakup by Type
10.1.3.1 Heat Pumps
10.1.3.2 Furnaces
10.1.3.3 Boilers
10.2 Ventilation
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.2.3 Breakup by Type
10.2.3.1 Air-Handling Units
10.2.3.2 Air Filters and Purifiers
10.2.3.3 Ventilation Fans
10.2.3.4 Dehumidifiers and Humidifiers
10.2.3.5 Others
10.3 Cooling
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.3.3 Breakup by Type
10.3.3.1 Unitary Air Conditioners
10.3.3.2 VRF Systems
10.3.3.3 Chillers
10.3.3.4 Coolers
10.3.3.5 Cooling Towers
10.3.3.6 Others
11 United States HVAC Market by Implementation Type
11.1 New Constructions
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Retrofits
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 United States HVAC Market by End Use
12.1 Residential
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Commercial
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Industrial
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 United States HVAC Market by Region
13.1 New England
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Mideast
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Great Lakes
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Plains
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Southeast
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Southwest
13.6.1 Historical Trend (2018-2023)
13.6.2 Forecast Trend (2024-2032)
13.7 Rocky Mountain
13.7.1 Historical Trend (2018-2023)
13.7.2 Forecast Trend (2024-2032)
13.8 Far West
13.8.1 Historical Trend (2018-2023)
13.8.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Lennox International Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Carrier Global Corporation
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 DAIKIN INDUSTRIES, Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Johnson Controls International plc
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 LG Electronics Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Robert Bosch GmbH
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Nortek Global HVAC LLC
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Mitsubishi Electric Corporation
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Midea Group Co. Ltd.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Fujitsu General Ltd.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Trane Technologies International Limited
16.2.11.1 Company Overview
16.2.11.2 Product Portfolio
16.2.11.3 Demographic Reach and Achievements
16.2.11.4 Certifications
16.2.12 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America HVAC Market: Key Industry Highlights, 2018 and 2032
2. United States HVAC Market: Key Industry Highlights, 2018 and 2032
3. United States HVAC Historical Market: Breakup by Equipment (USD Million), 2018-2023
4. United States HVAC Market Forecast: Breakup by Equipment (USD Million), 2024-2032
5. United States HVAC Historical Market: Breakup by Implementation Type (USD Million), 2018-2023
6. United States HVAC Market Forecast: Breakup by Implementation Type (USD Million), 2024-2032
7. United States HVAC Historical Market: Breakup by End Use (USD Million), 2018-2023
8. United States HVAC Market Forecast: Breakup by End Use (USD Million), 2024-2032
9. United States HVAC Historical Market: Breakup by Region (USD Million), 2018-2023
10. United States HVAC Market Forecast: Breakup by Region (USD Million), 2024-2032
11. United States HVAC Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 5.58% between 2024 and 2032.
The equipment market is categorised into Heating, ventilation, and cooling.
The United States HVAC market key players are Lennox International Inc, Carrier Global Corporation, DAIKIN INDUSTRIES, Ltd, Johnson Controls International plc, LG Electronics Inc., Nortek Global HVAC LLC, Mitsubishi Electric Corporation, Midea Group Co. Ltd., Fujitsu General Ltd., Trane Technologies International Limited, and Robert Bosch GmbH among others.
Based on the type, the market is divided into residential, commercial, and industrial.
The market is broken down into New England, Mideast, and Great Lakes. Plains. Southeast, Southwest, Rocky Mountains, and Far West.
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