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. As a result, 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).
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.
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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.
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