The United States HVAC market was valued at USD 31.20 Billion in 2024. The industry is expected to grow at a CAGR of 5.60% during the forecast period of 2025-2034 to attain a valuation of USD 53.80 Billion by 2034.
United States HVAC Market Growth
The demand for furnaces in the United States HVAC market is driven by a combination of climatic necessity, technological advancement, economic consideration, and established fuel supply infrastructure.
Furnaces represent the predominant heating equipment in residential buildings, operating on various fuels like propane, electricity, natural gas, or oil. Furnaces, through heat transfer between indoor and outdoor spaces, offer both cooling and heating functionalities. While geothermal heat pumps boast higher efficiency despite requiring substantial initial investments, air-source heat pumps are more common in moderate climates.
In February 2024, Midea, a notable innovator in theHVAC industry, launched its primary national showroom and distribution hub in Queens, New York. This underscores Midea's commitment to broadening access to heat pump technology, aiming to seamlessly integrate it into American homes.
Heat pumps play a pivotal role in HVAC systems, providing efficient heating and cooling solutions for residential, commercial, and industrial settings. Renowned for their energy efficiency compared to conventional systems, they transfer heat rather than generate it, resulting in lower energy consumption. Modern heat pumps are engineered to operate effectively year-round, offering cooling in summers and warmth in winters, translating to significant savings on energy bills for homeowners and businesses.
United States HVAC Industry Segmentation
United States HVAC Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Equipment
Heating _x000D_ _x000D_ Heat Pumps _x000D_ Furnaces _x000D_ Unitary Heaters _x000D_ _x000D_
Heating _x000D_ _x000D_ Heat Pumps _x000D_ Furnaces _x000D_ Unitary Heaters _x000D_ _x000D_
Ventilation _x000D_ _x000D_ Air-Handling Units _x000D_ Air Filters and Purifiers _x000D_ Ventilation Fans _x000D_ Dehumidifiers and Humidifiers _x000D_ Others _x000D_ _x000D_
Cooling _x000D_ _x000D_ Unitary Air Conditioners _x000D_ VRF Systems _x000D_ Chillers _x000D_ Coolers _x000D_ Cooling Towers _x000D_ Others _x000D_ _x000D_
Ventilation _x000D_ _x000D_ Air-Handling Units _x000D_ Air Filters and Purifiers _x000D_ Ventilation Fans _x000D_ Dehumidifiers and Humidifiers _x000D_ Others _x000D_ _x000D_
Heating _x000D_ _x000D_ Heat Pumps _x000D_ Furnaces _x000D_ Unitary Heaters _x000D_ _x000D_
Ventilation _x000D_ _x000D_ Air-Handling Units _x000D_ Air Filters and Purifiers _x000D_ Ventilation Fans _x000D_ Dehumidifiers and Humidifiers _x000D_ Others _x000D_ _x000D_
Cooling _x000D_ _x000D_ Unitary Air Conditioners _x000D_ VRF Systems _x000D_ Chillers _x000D_ Coolers _x000D_ Cooling Towers _x000D_ Others _x000D_ _x000D_
Cooling _x000D_ _x000D_ Unitary Air Conditioners _x000D_ VRF Systems _x000D_ Chillers _x000D_ Coolers _x000D_ Cooling Towers _x000D_ Others _x000D_ _x000D_
Heating _x000D_ _x000D_ Heat Pumps _x000D_ Furnaces _x000D_ Unitary Heaters _x000D_ _x000D_
Ventilation _x000D_ _x000D_ Air-Handling Units _x000D_ Air Filters and Purifiers _x000D_ Ventilation Fans _x000D_ Dehumidifiers and Humidifiers _x000D_ Others _x000D_ _x000D_
Cooling _x000D_ _x000D_ Unitary Air Conditioners _x000D_ VRF Systems _x000D_ Chillers _x000D_ Coolers _x000D_ Cooling Towers _x000D_ Others _x000D_ _x000D_
Market Breakup by Implementation Type
New Constructions
Retrofits
Market Breakup by End Use
Residential
Commercial
Industrial
Market Breakup by Region
New England
Mideast
Great Lakes
Plains
Southeast
Southwest
Rocky Mountains
Far West
United States HVAC Market Share
Residential HVAC systems offer year-round comfort with energy-efficient heating, ventilation, and air conditioning, improving indoor air quality and enabling convenient temperature control. These systems elevate home resale values, emphasising comfort and energy conservation. Commercial HVAC systems prioritise indoor comfort, boosting productivity and customer satisfaction while emphasising energy efficiency and regulatory compliance, promoting sustainability and a healthy work environment.
Leading Companies in the United States HVAC Market
Lennox International Inc
Carrier Global Corporation
DAIKIN INDUSTRIES, Ltd
Johnson Controls International plc.
Robert Bosch GmbH
LG Electronics Inc.
Nortek Global HVAC LLC
Mitsubishi Electric Corporation
Midea Group Co. Ltd.
Fujitsu General Ltd.
Trane Technologies International Limited
Others
The company excels in crafting and producing an extensive array of products and solutions spanning automotive technology, industrial equipment, consumer goods, and energy and building technology sectors.
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- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 North America HVAC Market Overview
- 5.1 Key Industry Highlights
- 5.2 North America HVAC Historical Market (2018-2024)
- 5.3 North America HVAC Market Forecast (2025-2034)
- 5.4 North America HVAC Market Share by Country
- 5.4.1 United States
- 5.4.2 Canada
- 6 United States HVAC Market Overview
- 6.1 Key Industry Highlights
- 6.2 United States HVAC Historical Market (2018-2024)
- 6.3 United States HVAC Market Forecast (2025-2034)
- 7 United States HVAC Market by Equipment
- 7.1 Heating
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.1.3 Breakup by Type
- 7.1.3.1 Heat Pumps
- 7.1.3.2 Furnaces
- 7.1.3.3 Boilers
- 7.2 Ventilation
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.2.3 Breakup by Type
- 7.2.3.1 Air-Handling Units
- 7.2.3.2 Air Filters and Purifiers
- 7.2.3.3 Ventilation Fans
- 7.2.3.4 Dehumidifiers and Humidifiers
- 7.2.3.5 Others
- 7.3 Cooling
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 7.3.3 Breakup by Type
- 7.3.3.1 Unitary Air Conditioners
- 7.3.3.2 VRF Systems
- 7.3.3.3 Chillers
- 7.3.3.4 Coolers
- 7.3.3.5 Cooling Towers
- 7.3.3.6 Others
- 8 United States HVAC Market by Implementation Type
- 8.1 New Constructions
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Retrofits
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 9 United States HVAC Market by End Use
- 9.1 Residential
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Commercial
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 Industrial
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 10 United States HVAC Market by Region
- 10.1 New England
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 Mideast
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 10.3 Great Lakes
- 10.3.1 Historical Trend (2018-2024)
- 10.3.2 Forecast Trend (2025-2034)
- 10.4 Plains
- 10.4.1 Historical Trend (2018-2024)
- 10.4.2 Forecast Trend (2025-2034)
- 10.5 Southeast
- 10.5.1 Historical Trend (2018-2024)
- 10.5.2 Forecast Trend (2025-2034)
- 10.6 Southwest
- 10.6.1 Historical Trend (2018-2024)
- 10.6.2 Forecast Trend (2025-2034)
- 10.7 Rocky Mountain
- 10.7.1 Historical Trend (2018-2024)
- 10.7.2 Forecast Trend (2025-2034)
- 10.8 Far West
- 10.8.1 Historical Trend (2018-2024)
- 10.8.2 Forecast Trend (2025-2034)
- 11 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators for Demand
- 11.4 Key Indicators for Price
- 12 Value Chain Analysis
- 13 Competitive Landscape
- 13.1 Supplier Selection
- 13.2 Key Global Players
- 13.3 Key Regional Players
- 13.4 Key Player Strategies
- 13.5 Company Profiles
- 13.5.1 Lennox International Inc.
- 13.5.1.1 Company Overview
- 13.5.1.2 Product Portfolio
- 13.5.1.3 Demographic Reach and Achievements
- 13.5.1.4 Certifications
- 13.5.2 Carrier Global Corporation
- 13.5.2.1 Company Overview
- 13.5.2.2 Product Portfolio
- 13.5.2.3 Demographic Reach and Achievements
- 13.5.2.4 Certifications
- 13.5.3 DAIKIN INDUSTRIES, Ltd.
- 13.5.3.1 Company Overview
- 13.5.3.2 Product Portfolio
- 13.5.3.3 Demographic Reach and Achievements
- 13.5.3.4 Certifications
- 13.5.4 Johnson Controls International plc
- 13.5.4.1 Company Overview
- 13.5.4.2 Product Portfolio
- 13.5.4.3 Demographic Reach and Achievements
- 13.5.4.4 Certifications
- 13.5.5 LG Electronics Inc.
- 13.5.5.1 Company Overview
- 13.5.5.2 Product Portfolio
- 13.5.5.3 Demographic Reach and Achievements
- 13.5.5.4 Certifications
- 13.5.6 Robert Bosch GmbH
- 13.5.6.1 Company Overview
- 13.5.6.2 Product Portfolio
- 13.5.6.3 Demographic Reach and Achievements
- 13.5.6.4 Certifications
- 13.5.7 Nortek Global HVAC LLC
- 13.5.7.1 Company Overview
- 13.5.7.2 Product Portfolio
- 13.5.7.3 Demographic Reach and Achievements
- 13.5.7.4 Certifications
- 13.5.8 Mitsubishi Electric Corporation
- 13.5.8.1 Company Overview
- 13.5.8.2 Product Portfolio
- 13.5.8.3 Demographic Reach and Achievements
- 13.5.8.4 Certifications
- 13.5.9 Midea Group Co. Ltd.
- 13.5.9.1 Company Overview
- 13.5.9.2 Product Portfolio
- 13.5.9.3 Demographic Reach and Achievements
- 13.5.9.4 Certifications
- 13.5.10 Fujitsu General Ltd.
- 13.5.10.1 Company Overview
- 13.5.10.2 Product Portfolio
- 13.5.10.3 Demographic Reach and Achievements
- 13.5.10.4 Certifications
- 13.5.11 Trane Technologies International Limited
- 13.5.11.1 Company Overview
- 13.5.11.2 Product Portfolio
- 13.5.11.3 Demographic Reach and Achievements
- 13.5.11.4 Certifications
- 13.5.12 Others
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