U.S. HVAC Systems Market Analysis, Size, Growth, Share, Trend, Outlook & Forecast to 2028
U.S. HVAC Systems Market Growth & Trends The U.S. HVAC systems market size is anticipated to reach USD 23.78 billion by 2028, according to a new study by Grand View Research Inc. It is expected to expand at a 6.0% CAGR from 2021 to 2028. Changing climatic conditions is the primary factor driving HVAC (Heating, Ventilation, and Air Conditioning) equipment demand in the country. Additionally, the adoption of technologically advanced systems that offer smart connectivity and remote operation is expected to be a significant factor influencing the market growth. Strict government regulations aimed at reducing energy consumption and carbon emissions from HVAC systems are anticipated to play an imperative role in market growth. To help consumers make an informed decision, the U.S. government has introduced the Energy Star Program that provides energy ratings that indicate the efficiency performance, and savings for each product. Such programs, coupled with active efforts taken by HVAC providers to provide energy-efficient products, are expected to fuel the growth of energy-efficient equipment over the forecast period. The market for HVAC systems in the U.S. is characterized by intense competition, with several major players dominating the market. Companies adopt different strategies to maintain their grip on the market. For instance, Carrier Corporation, a popular name among consumers, completed its separation from United Technologies Corporation (UTC) in April 2020. Operating independently will help Carrier Corporation to improve its product offerings and geographical presence, thus, improving its presence in the market. Browse full report with Table of Content (PDF with All Related Graph and Chart)