HVAC

Industry Specifics

Specific Research & Insights

Explore a comprehensive industry snapshot of the HVAC services market, both on a global scale and within the USA

The global HVAC market is valued at almost $168.65 billion in 2024.
The U.S. HVAC services market is valued at $19.85 billion in 2024.
Americans spend over $10B every year on HVAC repair and maintenance services.
Researchers expect the HVAC industry to grow at a rate of 6.6% between 2024 and 2029.
There were 140,024 HVAC businesses in the U.S. in 2023. That number increased by 4.5% from 2022.
88.2% more water heater repair and maintenance businesses registered to Thumbtack in 2023

US HVAC Services Market

The US HVAC Services Market size is estimated at USD 19.85 billion in 2024, and is expected to reach USD 27.31 billion by 2029, growing at a CAGR of 6.60% during the forecast period (2024-2029).

Study Period	2019 - 2029
Base Year for Estimation	2023
Market Size (2024)	USD 19.85 Billion
Market Size (2029)	USD 27.31 Billion
CAGR (2024 - 2029)	6.6%
Market Concentration	Medium
Major Players

Disclaimer: Major players sorted in no particular order.

US HVAC Systems Market

The U.S. HVAC systems market size was estimated at USD 30.41 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2030. Currently, almost 40% of the industry comprises of Heat Pump Services, followed by the rest of the types.

US HVAC Systems Market, by End User, 2023

The U.S. HVAC systems market is equally split between residential and commercial share, followed by Industrial share, which comprises roughly 25% of the market.

US HVAC Services Market Leaders

Here are the top 5 leading players in HVAC industry in the USA, by revenues as of 2022.

1 EMCOR Group Inc.
2 Southland Industrial Energy
3 J&J Air Conditioning Services
4 ACCO Engineered Systems
5 United Mechanical

Regional Growth in HVAC

Small HVAC businesses can tap into the thriving southern market, where a large number of affluent households and a growing construction industry are driving demand for HVAC systems, offering significant growth potential.

CONSTRUCTION GROWTH SPURS HVAC NEEDS IN SOUTHERN USA

The US South

48 Million - The highest number of households

38 Million - Household income $25,000+

The US South Construction
Growth Rate @ 6%

More Research & Insights

Did You Know?

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