The U.S. HVAC services market size is expected to advance at a CAGR of 4.5% during 2022–2030, to reach $35,971.7 million by 2030.
The market for these services in the U.S. is also being positively impacted by the growing construction activities in the country. For instance, according to the U.S. Census Bureau, the construction spending during September 2022 was estimated at an annual rate of $1,800.1 billion.
Furthermore, the U.S. has been selected as the host nation for the 2026 FIFA World Cup, and this is projected to further drive the construction activities in the country. It would fuel the demand for HVAC systems. Besides, the factors such as rising electricity prices and surging need to curb carbon emissions are expected to boost the adoption of building management systems, including smart and energy-efficient HVAC systems, such as VRF systems, heat pumps, and related services.
The primary factors that will have a positive impact on the market throughout the forecast period are the diverse worldwide climatic conditions and the necessity to maintain an ambient environment in a building.
Furthermore, the accelerated rates of urbanization and industrialization are driving the HVAC services market.
The development of the construction sector and the rise in disposable income in developing nations have broadened the consumer base for HVAC equipment. The market for HVAC services is predicted to rise significantly, mainly because there is a greater requirement to maintain the efficiency of the existing systems.
AMC is a solution provided by HVAC service companies, involved in the installation of HVAC systems on premises. The end users, such as residential buildings, commercial offices, hospitals, retail stores, hotels, and industries, are increasingly adopting these services due to the increasing need of maintenance of HVAC systems. Moreover, the services help to prevent possible equipment failures. Although, commercial users mostly prefer AMC services due to the convenience of maintaining the systems.
The commercial category generated the significant revenue, amounting to more than $10 billion, in 2022. However, during the forecast period, the market is expected to witness the fastest growth in the residential category.
The country is witnessing significant growth in the construction of commercial buildings, especially in the hospitality sector. Furthermore, the construction of new commercial spaces is expected to have a positive impact on the market for HVAC systems across the U.S, further resulting in the demand for installation and maintenance services.
Expansion of the food & beverage sector has been a major factor driving the demand for industrial HVAC systems. Food & beverage manufacturing units require HVAC systems to maintain the desired safety and hygiene levels mandated by the U.S. Food and Drug Administration (FDA). Moreover, well-designed air-handling systems help control odor and further help protect food from airborne contaminants and pathogens, such as Salmonella, Listeria, and E. coli. The growth in the food & beverage sector is, therefore, expected to continue steering the demand for HVAC services in near future.
The significant market players of the U.S. HVAC services are One Hour Heating & Air Conditioning, Johnson Controls International plc, Daikin Industries Ltd., Lennox International Inc., CLS Facility Services, AmeriCool LLC, BP International Limited, National HVAC Service, Murphy & Miller Inc., and Trane Technologies plc.