U.S. HVAC Services Industry, Forecast to 2030: A $35+ Billion Opportunity Assessment


Dublin, April 16, 2020 (GLOBE NEWSWIRE) -- The "U.S. HVAC Services Market Research Report: By Type, Equipment, Implementation, End User - Industry Trends Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The U.S. HVAC services market is predicted to see an increase in value from $25.6 billion in 2019 to $35.8 billion in 2030 and progress at a CAGR of 3.1% during the forecast period (2020-2030).

The biggest factor fuelling the demand for heating, ventilation, and air conditioning (HVAC) services in the U.S. is the booming construction sector in the country, primarily due to the rising population level and increasing urbanization rate. As per the U.S. Census Bureau, the population of the U.S. is set to increase by almost 7% during 2019-2029.

In the U.S, the demand for HVAC maintenance and repair, upgradation and replacement, installation, and consulting services is quite high. Amongst these, repair and maintenance services were demanded by a lot of American citizens during till 2019. It has been observed that HVAC systems that go through frequent maintenance and repair activities lead to 20% more savings in energy consumption and exhibit improved functional efficiency. The demand for consulting services for HVAC systems, including thorough inspection by technicians, is expected to register quick growth in demand during the coming years.

HVAC systems are widely used in the industrial, residential, and commercial sectors. Out of these, the highest sale of HVAC services was recorded in the commercial buildings in 2019. This is primarily attributed to the massive surge in the construction of various commercial buildings, especially those pertaining to the hospitality niche. Furthermore, the construction of new commercial spaces in the country is expected to propel the adoption of HVAC systems, thereby boosting the need for installation and maintenance services.

The biggest rage in the U.S. HVAC services market currently is the growing adoption of smart HVAC systems, which has, in turn, massively pushed the demand for associated maintenance and repair services. Additionally, the rapid advancements and innovations in data analytics have fuelled the rise in the demand for streamlined HVAC system processes, exhibiting improved efficiency. For instance, HVAC contractors employ the use of widgets and software, nowadays, in order to collect data, with the help of real-time tracking of the coolants in the HVAC systems.

The southern part of the country recorded the largest sale of HVAC services in 2019. This is mainly ascribed to the fact that the cities and towns in the southern part of the country experience varying weather conditions, as compared to those in other regions. This creates a huge need for efficient heating and cooling of residential, industrial, and commercial buildings, which in turn, powers the demand for HVAC systems. As a result, the need for various associated services remains consistently high in this part of the country.

Therefore, owing to the soaring population level and the resultant rise in the construction of residential buildings as well as the flourishing industrial sector, the demand for HVAC services wound continue to skyrocket in the U.S. in the coming years.

Key Topics Covered

Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Type
1.3.2 Market Segmentation by Equipment Type
1.3.3 Market Segmentation by Implementation Type
1.3.4 Market Segmentation by End-user
1.3.5 Market Segmentation by Region
1.3.6 Analysis Period
1.3.7 Market Data Reporting Unit Value
1.4 Key Stakeholders

Chapter 2. Research Methodology

Chapter 3. Executive Summary

Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 by Type Installation Upgradation/Replacement Maintenance & Repair Consulting
4.1.2 by Equipment Type Heating Furnaces Heat Pumps Boilers Unitary Heaters Ventilation Humidifiers/Dehumidifiers Air Cleaners Ventilation Fans AHU and FCU Cooling VRF Ducted Split/Packaged Unit Split Units Chillers Room ACs
4.1.3 by Implementation Type New Construction Retrofit Buildings
4.1.4 by End-user Residential Commercial Offices and Buildings Supermarkets/Hypermarkets Government Healthcare Hospitality Transportation Others Industrial Oil & Gas F&B Automotive Energy & Utilities Others Residential
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends Growing Demand for Smart HVAC Systems
4.3.2 Drivers Growing Construction Market Increasing Focus Toward Energy Efficiency Impact Analysis of Drivers on the Market Forecast
4.3.3 Restraints Shortage of Skilled Labor and High Cost Technicians Impact Analysis of Restraints on the Market Forecast
4.3.4 Opportunities Growing Manufacturing Industry Growing Demand for Annual Maintenance Contract (AMC) Services
4.4 Porter's Five Forces Analysis

Chapter 5. Global Market Size and Forecast
5.1 By Region

Chapter 6. U.S. Market Size and Forecast
6.1 By Type
6.2 By Equipment Type
6.2.1 Heating, by Type
6.2.2 Ventilation, by Type
6.2.3 Cooling, by Type
6.3 By Implementation Type
6.4 By End-user
6.4.1 Commercial, by Type
6.4.2 Industrial, by Type
6.5 By Region

Chapter 7. Competitive Landscape
7.1 Market Share Analysis of Key Players
7.2 Competitive Benchmarking of Key Players

Chapter 8. Company Profiles
8.1 One Hour Heating & Air Conditioning
8.1.1 Business Overview
8.1.2 Product and Service Offerings
8.2 Johnson Controls International PLC
8.3 Daikin Industries Ltd.
8.4 Lennox International Inc.
8.5 CLS Facility Services
8.6 AmeriCool LLC
8.7 The BP Group
8.8 National HVAC Service
8.9 Murphy & Miller Inc.
8.10 Ingersoll-Rand PLC
8.11 United Technologies Corporation
8.12 Emerson Electric Co.
8.13 True Cool Air Conditioning Service Inc.
8.14 Dave's Cooling & Heating

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