Key Insights
The United States HVAC (Heating, Ventilation, and Air Conditioning) Equipment & Services market is a substantial and dynamic sector, experiencing robust growth driven by several key factors. Increasing urbanization, a growing population, stringent energy efficiency regulations (like those enforced by the EPA), and a rising awareness of indoor air quality are all contributing to a strong demand for advanced HVAC systems. The market is segmented by equipment type (e.g., furnaces, air conditioners, heat pumps) and end-user (residential, commercial, industrial), with the commercial sector likely representing a significant portion due to larger-scale installations and ongoing building maintenance requirements. Technological advancements, such as smart thermostats, energy-efficient designs, and integration with building management systems, are further fueling market expansion. Retrofit projects, aimed at upgrading existing systems in older buildings, also present a substantial growth opportunity, especially given the aging infrastructure in many US cities. Major players like Johnson Controls, Daikin, Lennox, and Carrier are driving innovation and competition, while smaller companies cater to niche markets or regional demands. While supply chain disruptions and material cost increases might pose temporary challenges, the overall market outlook remains positive, driven by sustained demand and ongoing technological advancements.
The 6.21% CAGR (Compound Annual Growth Rate) indicates a healthy and consistent expansion. Considering a base year of 2025 and a study period of 2019-2033, assuming a 2025 market size of $50 billion (a reasonable estimation based on industry reports), the market is projected to experience significant growth over the forecast period (2025-2033). This growth is fuelled by investment in sustainable and energy-efficient technologies, governmental incentives promoting energy conservation, and the increasing adoption of smart building technologies. While economic fluctuations could temporarily impact market growth, the long-term outlook remains positive due to the essential nature of HVAC systems and the continuous need for upgrades and replacements.
This comprehensive report provides an in-depth analysis of the United States HVAC equipment and services market, offering invaluable insights for industry professionals, investors, and strategic decision-makers. The study covers the period from 2019 to 2033, with a base year of 2025 and a forecast period spanning 2025-2033. The market is segmented by type, retrofits, and end-user, providing a granular understanding of its structure and dynamics. The report incorporates data valued in Million units where applicable.

United States HVAC Equipment & Services Market Dynamics & Structure
This section analyzes the market's competitive landscape, technological advancements, regulatory environment, and market dynamics. The US HVAC market is characterized by a moderate level of concentration, with key players such as Johnson Controls International PLC, Daikin Industries Ltd, Lennox International Inc, and Carrier Corporation holding significant market share (xx%). However, smaller, specialized companies also contribute significantly to the overall market volume.
- Market Concentration: xx% controlled by top 5 players.
- Technological Innovation: Focus on energy efficiency (e.g., smart thermostats, inverter technology) and sustainability (e.g., refrigerants with lower global warming potential). Innovation barriers include high R&D costs and the need for regulatory approvals.
- Regulatory Framework: Stringent energy efficiency standards (e.g., ASHRAE standards) drive the adoption of advanced HVAC technologies, impacting both product design and market competition.
- Competitive Product Substitutes: Limited direct substitutes exist, but advancements in passive building design and renewable energy sources present indirect competition.
- End-User Demographics: Residential, commercial, and industrial sectors demonstrate varying demand patterns based on building size, energy consumption needs, and budget considerations. The residential segment currently holds the largest market share (xx%), followed by the commercial and industrial segments (xx% and xx%, respectively).
- M&A Trends: The HVAC sector has witnessed significant M&A activity in recent years, with major players consolidating their market positions. For instance, the acquisition of DiversiTech by Partners Group in November 2021 and Reedy Industries by Partners Group in July 2021 reflect this trend. The total value of M&A deals in the last five years is estimated at xx Million units.
United States HVAC Equipment & Services Market Growth Trends & Insights
The US HVAC equipment and services market experienced substantial growth during the historical period (2019-2024), driven by increasing construction activity, rising disposable incomes, and growing awareness of indoor air quality. The market size is estimated at xx Million units in 2025 and is projected to witness a Compound Annual Growth Rate (CAGR) of xx% during the forecast period (2025-2033), reaching xx Million units by 2033. This growth is fueled by several key factors: increasing urbanization, rising energy costs, stringent environmental regulations, and the adoption of smart and energy-efficient HVAC technologies. The market penetration of smart HVAC systems is expected to increase from xx% in 2025 to xx% by 2033. Consumer behavior shifts towards energy efficiency and sustainability are also significantly impacting market trends. The adoption of subscription-based service models is also gaining traction, altering revenue streams for service providers. Technological disruptions, such as the integration of IoT and AI in HVAC systems, are creating new opportunities for market expansion.

Dominant Regions, Countries, or Segments in United States HVAC Equipment & Services Market
The market's growth is geographically diverse, with several regions demonstrating robust performance. However, the South and Western regions currently lead in market size and growth due to factors such as higher temperatures, increased construction activity, and a rapidly growing population. The residential segment is the most dominant in terms of market size, while the commercial sector presents significant growth potential.
- Key Drivers:
- Strong economic growth in Southern and Western regions: This leads to increased construction activity and subsequent demand for HVAC systems.
- Favorable government policies and incentives: Tax credits and rebates for energy-efficient HVAC systems boost demand.
- High adoption rates of smart home technologies: The growing popularity of smart thermostats and home automation systems fuels growth in this sector.
- Expansion of commercial infrastructure: New commercial buildings and renovations require considerable HVAC investment.
United States HVAC Equipment & Services Market Product Landscape
The US HVAC market offers a wide array of products, ranging from traditional split systems to advanced heat pumps and smart HVAC systems. Recent product innovations include improved energy efficiency ratings, enhanced indoor air quality features (e.g., air purification), and integrated smart home connectivity. These advancements are driven by the demand for sustainability, energy conservation, and enhanced user convenience. The unique selling propositions of many products involve smart features, energy efficiency claims, and enhanced durability.
Key Drivers, Barriers & Challenges in United States HVAC Equipment & Services Market
Key Drivers: Rising energy costs, stringent environmental regulations, and increasing awareness of indoor air quality are primary drivers. Technological advancements like smart thermostats and energy-efficient heat pumps further propel market growth. Government incentives and subsidies for energy-efficient systems also boost demand.
Key Challenges: Supply chain disruptions, especially with the sourcing of critical components like refrigerants, pose a major challenge. Skilled labor shortages hinder installation and maintenance services. Regulatory hurdles related to energy efficiency standards and refrigerant regulations can create compliance costs. Intense competition among established players and emerging technologies adds pressure on profitability. The estimated impact of supply chain disruptions on market growth is a reduction of xx% during the forecast period.
Emerging Opportunities in United States HVAC Equipment & Services Market
The integration of renewable energy sources (e.g., solar, geothermal) with HVAC systems presents a significant opportunity. The growing demand for improved indoor air quality and air purification technologies creates further market potential. Expansion into underserved markets, particularly in rural areas, presents untapped opportunities. The increasing popularity of subscription-based HVAC services offers new revenue streams for service providers. Finally, the development of more sustainable and eco-friendly HVAC systems is key to the long-term success of the market.
Growth Accelerators in the United States HVAC Equipment & Services Market Industry
Long-term growth will be driven by continued technological innovation, focusing on energy efficiency and sustainability. Strategic partnerships between HVAC manufacturers and renewable energy providers can further accelerate growth. Market expansion into underserved rural areas and focusing on the development of cost-effective, energy-efficient solutions for low-income households present significant growth opportunities. Finally, government support for energy efficiency initiatives and subsidies for eco-friendly HVAC systems will play a key role.
Key Players Shaping the United States HVAC Equipment & Services Market Market
- Johnson Controls International PLC
- Daikin Industries Ltd
- Lennox International Inc
- EMCOR Group
- Carrier Corporation
- Goodman Manufacturing Company
- Uponor Corp
- Trane Technologies
- Raheem Manufacturing Company Ltd
- Emerson Electric Company
Notable Milestones in United States HVAC Equipment & Services Market Sector
- November 2021: Partners Group acquires DiversiTech, expanding its portfolio in the HVAC parts and accessories market. This significantly increases the market share of Partners Group and affects competition among other suppliers.
- July 2021: Audax Private Equity sells Reedy Industries, a commercial HVAC provider, to Partners Group, furthering market consolidation. This acquisition increases the market power of Partners Group in the commercial HVAC sector.
In-Depth United States HVAC Equipment & Services Market Market Outlook
- November 2021: Partners Group acquires DiversiTech, expanding its portfolio in the HVAC parts and accessories market. This significantly increases the market share of Partners Group and affects competition among other suppliers.
- July 2021: Audax Private Equity sells Reedy Industries, a commercial HVAC provider, to Partners Group, furthering market consolidation. This acquisition increases the market power of Partners Group in the commercial HVAC sector.
In-Depth United States HVAC Equipment & Services Market Market Outlook
The US HVAC equipment and services market is poised for continued growth, driven by technological advancements, sustainable practices, and supportive government policies. The focus on energy efficiency, smart technologies, and eco-friendly refrigerants will shape future market trends. Strategic partnerships and market expansion strategies, particularly in the residential and commercial sectors, will be key to unlocking the market's full potential. The market's future trajectory indicates significant opportunities for innovation and growth, particularly in the areas of sustainability, smart technologies, and integrated building systems.
United States HVAC Equipment & Services Market Segmentation
-
1. Equipment
- 1.1. Split Systems (Ducted & Ductless)
- 1.2. Indoor Packaged & Roof Tops
- 1.3. Chillers
- 1.4. Air Handling Units
- 1.5. Furnaces
- 1.6. Fain Coils
- 1.7. Window/through the Wall, Moveable & PTAC
- 1.8. Boilers
- 1.9. Heat Pumps
- 1.10. Humidifiers and Dehumidifiers
- 1.11. Other Equipment Types
-
2. End-User
- 2.1. Residential
- 2.2. Industrial & Commercial
- 3. Market Overvies
-
4. Market Segmentation
-
4.1. By Type
- 4.1.1. New Installations
- 4.1.2. Retrofits
-
4.2. By End-User
- 4.2.1. Residential
- 4.2.2. Industrial & Commercial
-
4.1. By Type
-
5. Type
- 5.1. New Installations
- 5.2. Retrofits
-
6. End-User
- 6.1. Residential
- 6.2. Industrial & Commercial
United States HVAC Equipment & Services Market Segmentation By Geography
- 1. United States

United States HVAC Equipment & Services Market REPORT HIGHLIGHTS
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 6.21% from 2019-2033 |
Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Rise in Residential and Non-residential Users
- 3.3. Market Restrains
- 3.3.1. Security Concerns Related to IoT and Smart Devices; Higher Costs of Refurbishment of Old Buildings
- 3.4. Market Trends
- 3.4.1. New Installations to Drive the Growth
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. United States HVAC Equipment & Services Market Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Equipment
- 5.1.1. Split Systems (Ducted & Ductless)
- 5.1.2. Indoor Packaged & Roof Tops
- 5.1.3. Chillers
- 5.1.4. Air Handling Units
- 5.1.5. Furnaces
- 5.1.6. Fain Coils
- 5.1.7. Window/through the Wall, Moveable & PTAC
- 5.1.8. Boilers
- 5.1.9. Heat Pumps
- 5.1.10. Humidifiers and Dehumidifiers
- 5.1.11. Other Equipment Types
- 5.2. Market Analysis, Insights and Forecast - by End-User
- 5.2.1. Residential
- 5.2.2. Industrial & Commercial
- 5.3. Market Analysis, Insights and Forecast - by Market Overvies
- 5.4. Market Analysis, Insights and Forecast - by Market Segmentation
- 5.4.1. By Type
- 5.4.1.1. New Installations
- 5.4.1.2. Retrofits
- 5.4.2. By End-User
- 5.4.2.1. Residential
- 5.4.2.2. Industrial & Commercial
- 5.4.1. By Type
- 5.5. Market Analysis, Insights and Forecast - by Type
- 5.5.1. New Installations
- 5.5.2. Retrofits
- 5.6. Market Analysis, Insights and Forecast - by End-User
- 5.6.1. Residential
- 5.6.2. Industrial & Commercial
- 5.7. Market Analysis, Insights and Forecast - by Region
- 5.7.1. United States
- 5.1. Market Analysis, Insights and Forecast - by Equipment
- 6. North America United States HVAC Equipment & Services Market Analysis, Insights and Forecast, 2019-2031
- 6.1. Market Analysis, Insights and Forecast - By Country/Sub-region
- 6.1.1.
- 7. Europe United States HVAC Equipment & Services Market Analysis, Insights and Forecast, 2019-2031
- 7.1. Market Analysis, Insights and Forecast - By Country/Sub-region
- 7.1.1.
- 8. Asia Pacific United States HVAC Equipment & Services Market Analysis, Insights and Forecast, 2019-2031
- 8.1. Market Analysis, Insights and Forecast - By Country/Sub-region
- 8.1.1.
- 9. Latin America United States HVAC Equipment & Services Market Analysis, Insights and Forecast, 2019-2031
- 9.1. Market Analysis, Insights and Forecast - By Country/Sub-region
- 9.1.1.
- 10. Middle East United States HVAC Equipment & Services Market Analysis, Insights and Forecast, 2019-2031
- 10.1. Market Analysis, Insights and Forecast - By Country/Sub-region
- 10.1.1.
- 11. Competitive Analysis
- 11.1. Market Share Analysis 2024
- 11.2. Company Profiles
- 11.2.1 Johnson Controls International PLC
- 11.2.1.1. Overview
- 11.2.1.2. Products
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Financials (Based on Availability)
- 11.2.2 Daikin Industries Ltd
- 11.2.2.1. Overview
- 11.2.2.2. Products
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Financials (Based on Availability)
- 11.2.3 Lennox International Inc
- 11.2.3.1. Overview
- 11.2.3.2. Products
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Financials (Based on Availability)
- 11.2.4 EMCOR Group
- 11.2.4.1. Overview
- 11.2.4.2. Products
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Financials (Based on Availability)
- 11.2.5 Carrier Corporation
- 11.2.5.1. Overview
- 11.2.5.2. Products
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Financials (Based on Availability)
- 11.2.6 Goodman Manufacturing Company
- 11.2.6.1. Overview
- 11.2.6.2. Products
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Financials (Based on Availability)
- 11.2.7 Uponor Corp
- 11.2.7.1. Overview
- 11.2.7.2. Products
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Financials (Based on Availability)
- 11.2.8 Trane Technologies
- 11.2.8.1. Overview
- 11.2.8.2. Products
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Financials (Based on Availability)
- 11.2.9 Raheem Manufacturing Company Ltd *List Not Exhaustive
- 11.2.9.1. Overview
- 11.2.9.2. Products
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Financials (Based on Availability)
- 11.2.10 Emerson Electric Company
- 11.2.10.1. Overview
- 11.2.10.2. Products
- 11.2.10.3. SWOT Analysis
- 11.2.10.4. Recent Developments
- 11.2.10.5. Financials (Based on Availability)
- 11.2.1 Johnson Controls International PLC
List of Figures
- Figure 1: United States HVAC Equipment & Services Market Revenue Breakdown (Million, %) by Product 2024 & 2032
- Figure 2: United States HVAC Equipment & Services Market Share (%) by Company 2024
List of Tables
- Table 1: United States HVAC Equipment & Services Market Revenue Million Forecast, by Region 2019 & 2032
- Table 2: United States HVAC Equipment & Services Market Revenue Million Forecast, by Equipment 2019 & 2032
- Table 3: United States HVAC Equipment & Services Market Revenue Million Forecast, by End-User 2019 & 2032
- Table 4: United States HVAC Equipment & Services Market Revenue Million Forecast, by Market Overvies 2019 & 2032
- Table 5: United States HVAC Equipment & Services Market Revenue Million Forecast, by Market Segmentation 2019 & 2032
- Table 6: United States HVAC Equipment & Services Market Revenue Million Forecast, by Type 2019 & 2032
- Table 7: United States HVAC Equipment & Services Market Revenue Million Forecast, by End-User 2019 & 2032
- Table 8: United States HVAC Equipment & Services Market Revenue Million Forecast, by Region 2019 & 2032
- Table 9: United States HVAC Equipment & Services Market Revenue Million Forecast, by Country 2019 & 2032
- Table 10: United States HVAC Equipment & Services Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 11: United States HVAC Equipment & Services Market Revenue Million Forecast, by Country 2019 & 2032
- Table 12: United States HVAC Equipment & Services Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 13: United States HVAC Equipment & Services Market Revenue Million Forecast, by Country 2019 & 2032
- Table 14: United States HVAC Equipment & Services Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 15: United States HVAC Equipment & Services Market Revenue Million Forecast, by Country 2019 & 2032
- Table 16: United States HVAC Equipment & Services Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 17: United States HVAC Equipment & Services Market Revenue Million Forecast, by Country 2019 & 2032
- Table 18: United States HVAC Equipment & Services Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 19: United States HVAC Equipment & Services Market Revenue Million Forecast, by Equipment 2019 & 2032
- Table 20: United States HVAC Equipment & Services Market Revenue Million Forecast, by End-User 2019 & 2032
- Table 21: United States HVAC Equipment & Services Market Revenue Million Forecast, by Market Overvies 2019 & 2032
- Table 22: United States HVAC Equipment & Services Market Revenue Million Forecast, by Market Segmentation 2019 & 2032
- Table 23: United States HVAC Equipment & Services Market Revenue Million Forecast, by Type 2019 & 2032
- Table 24: United States HVAC Equipment & Services Market Revenue Million Forecast, by End-User 2019 & 2032
- Table 25: United States HVAC Equipment & Services Market Revenue Million Forecast, by Country 2019 & 2032
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the United States HVAC Equipment & Services Market?
The projected CAGR is approximately 6.21%.
2. Which companies are prominent players in the United States HVAC Equipment & Services Market?
Key companies in the market include Johnson Controls International PLC, Daikin Industries Ltd, Lennox International Inc, EMCOR Group, Carrier Corporation, Goodman Manufacturing Company, Uponor Corp, Trane Technologies, Raheem Manufacturing Company Ltd *List Not Exhaustive, Emerson Electric Company.
3. What are the main segments of the United States HVAC Equipment & Services Market?
The market segments include Equipment, End-User, Market Overvies, Market Segmentation, Type, End-User.
4. Can you provide details about the market size?
The market size is estimated to be USD XX Million as of 2022.
5. What are some drivers contributing to market growth?
Rise in Residential and Non-residential Users.
6. What are the notable trends driving market growth?
New Installations to Drive the Growth.
7. Are there any restraints impacting market growth?
Security Concerns Related to IoT and Smart Devices; Higher Costs of Refurbishment of Old Buildings.
8. Can you provide examples of recent developments in the market?
November 2021 - Partners Group, a leading global private markets firm, agreed to acquire DiversiTech, a manufacturer and supplier of parts and accessories for heating, ventilation, and air conditioning ("HVAC") equipment in the US, from funds advised by global private equity firm Permira.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3800, USD 4500, and USD 5800 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in Million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "United States HVAC Equipment & Services Market," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the United States HVAC Equipment & Services Market report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the United States HVAC Equipment & Services Market?
To stay informed about further developments, trends, and reports in the United States HVAC Equipment & Services Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database



Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations

Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence