United States HVAC Equipment & Services Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The United States HVAC Equipment Market is Segmented by Equipment Type (Split Systems, Indoor Packaged & Roof Tops, Chillers, Air Handling Units, Furnaces, Fain Coils, Window/through the Wall, Moveable & PTAC, Boilers, Heat Pumps, Humidifiers, and Dehumidifiers), and End User (Residential, Industrial & Commercial), the HVAC Services Market is Segmented By Type (New Installations, Retrofits), and End User (Residential, Industrial & Commercial).

United States HVAC Equipment & Services Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

US HVAC Equipment & Services Market Size

CAGR
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2019 - 2023
CAGR 6.21 %
Market Concentration Low

Major Players

United States HVAC Equipment & Services Market Major Players

*Disclaimer: Major Players sorted in no particular order

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US HVAC Equipment & Services Market Analysis

The United States HVAC Equipment & Services Market is expected to register a CAGR of 6.21% during the forecast period.

  • The growing use of air conditioners in commercial office buildings and residential properties are some of the leading factors driving the demand for HVAC equipment and services in the country. For instance, according to the U.S. Department of Energy, about three-quarters of all homes in the United States have air conditioners.
  • Additionally, air conditioners use about 6% of the total electricity produced in the United States, at an annual cost of about USD 29 billion to homeowners. Considering such trends, several initiatives are being taken to enhance the energy efficiency of air conditioning systems. For instance, in December 2021, The USA's National Renewable Energy Laboratory (NREL) received funding for two projects focused on using liquid desiccant in energy-efficient air conditioning.
  • As part of this research program, NREL has partnered with Blue Frontier to develop an energy-storing efficient heating, ventilation, and air conditioning (HVAC) system. The system is expected to offer 80% energy savings by leveraging indirect evaporative air conditioning with separate humidity control.
  • Although initiatives are being taken to enhance the energy efficiency of HVAC systems, the energy consumption of these devices is still high. This, along with factors such as high installation and maintenance costs, is challenging the growth of the studied market.
  • The COVID-19 pandemic has significantly impacted the HVAC equipment and services market in the United States, owing to a simultaneous collapse of both the demand and supply. The vendors operating in the market experienced a fall in demand due to the closure of office buildings and several restrictions imposed by the government. However, the demand is expected to gain traction with the condition moving towards normalcy.

US HVAC Equipment & Services Industry Overview

The United States HVAC Equipment & Services market is competitive due to several established players. The growing demand is also encouraging new players to enter the market. The market vendors view strategic partnerships and acquisitions as a lucrative path to market expansion. Some major players operating in the market include Johnson Controls International PLC, Daikin Industries Ltd., Electrolux AB, and Emerson Electric Company.

  • March 2022 - The governor of Connecticut proposed legislation to establish a grant program to assist public school districts in paying for heating, ventilation, and cooling (HVAC) and other indoor air quality improvements to school buildings. To launch the program, the governor's budget proposal includes an investment of USD 90 million in funding that Connecticut received from the American Rescue Plan Act.
  • January 2022 - Turntide Technologies launched a new smart platform to improve the energy efficiency of HVAC systems, fans, and pumps for industrial and commercial buildings. According to the company, the newly launched HVAC platform integrates a smart motor system and can cut HVAC energy use by an average of 64%.

US HVAC Equipment & Services Market Leaders

  1. Johnson Controls International PLC

  2. Daikin Industries Ltd.

  3. Lennox International Inc.

  4. Emerson Electric Company

  5. EMCOR Group

  6. *Disclaimer: Major Players sorted in no particular order
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US HVAC Equipment & Services Market News

  • 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.
  • July 2021 - Audax Private Equity announced that it had signed a definitive agreement to sell Reedy Industries, commercial heating, ventilation, and air conditioning (HVAC) provider, to Partners Group.

US HVAC Equipment & Services Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.2.1 Threat of New Entrants
    • 4.2.2 Bargaining Power of Buyers/Consumers
    • 4.2.3 Bargaining Power of Suppliers
    • 4.2.4 Threat of Substitute Products
    • 4.2.5 Intensity of Competitive Rivalry
  • 4.3 Impact of COVID-19 on the Industry
  • 4.4 Industry Value Chain Analysis
  • 4.5 Regulations and Their Impact on the Market
  • 4.6 Distribution Channel Analysis

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Rise in Residential and Non-residential Users
  • 5.2 Market Challenges
    • 5.2.1 High Energy Consumption of HVAC Equipment

6. MARKET SEGMENTATION - EQUIPMENT

  • 6.1 By Equipment
    • 6.1.1 Split Systems (Ducted & Ductless)
    • 6.1.2 Indoor Packaged & Roof Tops
    • 6.1.3 Chillers
    • 6.1.4 Air Handling Units
    • 6.1.5 Furnaces
    • 6.1.6 Fain Coils
    • 6.1.7 Window/through the Wall, Moveable & PTAC
    • 6.1.8 Boilers
    • 6.1.9 Heat Pumps
    • 6.1.10 Humidifiers and Dehumidifiers
    • 6.1.11 Other Equipment Types
  • 6.2 By End-User
    • 6.2.1 Residential
    • 6.2.2 Industrial & Commercial

7. MARKET ANALYSIS OF HVAC SERVICES

  • 7.1 Market Overvies
  • 7.2 Market Segmentation
    • 7.2.1 By Type
    • 7.2.1.1 New Installations
    • 7.2.1.2 Retrofits
    • 7.2.2 By End-User
    • 7.2.2.1 Residential
    • 7.2.2.2 Industrial & Commercial

8. COMPETITIVE LANDSCAPE

  • 8.1 Company Profiles
    • 8.1.1 Johnson Controls International PLC
    • 8.1.2 Daikin Industries Ltd.
    • 8.1.3 Lennox International Inc.
    • 8.1.4 EMCOR Group
    • 8.1.5 Emerson Electric Company
    • 8.1.6 Carrier Corporation
    • 8.1.7 Goodman Manufacturing Company
    • 8.1.8 Uponor Corp
    • 8.1.9 Trane Technologies
    • 8.1.10 Raheem Manufacturing Company Ltd.
  • *List Not Exhaustive

9. INVESTMENT ANALYSIS AND FUTURE

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US HVAC Equipment & Services Industry Segmentation

HVAC equipment is an indoor and vehicular environment comfort technology that provides thermal comfort and acceptable indoor air quality. It is an important part of residential structures, such as single-family homes, apartment buildings, hotels, and senior living facilities, as well as medium-to-large industrial and office buildings, such as hospitals, where safe and healthy building conditions are regulated, with respect to temperature and humidity, using fresh air from outdoors. The report offers a comprehensive analysis of the market segmented by type of HVAC equipment, services, and end-users.

By Equipment Split Systems (Ducted & Ductless)
Indoor Packaged & Roof Tops
Chillers
Air Handling Units
Furnaces
Fain Coils
Window/through the Wall, Moveable & PTAC
Boilers
Heat Pumps
Humidifiers and Dehumidifiers
Other Equipment Types
By End-User Residential
Industrial & Commercial
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US HVAC Equipment & Services Market Research FAQs

What is the current United States HVAC Equipment & Services Market size?

The United States HVAC Equipment & Services Market is projected to register a CAGR of 6.21% during the forecast period (2025-2030)

Who are the key players in United States HVAC Equipment & Services Market?

Johnson Controls International PLC, Daikin Industries Ltd., Lennox International Inc., Emerson Electric Company and EMCOR Group are the major companies operating in the United States HVAC Equipment & Services Market.

What years does this United States HVAC Equipment & Services Market cover?

The report covers the United States HVAC Equipment & Services Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the United States HVAC Equipment & Services Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

United States HVAC Equipment & Services Industry Report

Statistics for the 2025 United States HVAC Equipment & Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States HVAC Equipment & Services analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.