Dublin, Nov. 20, 2020 (GLOBE NEWSWIRE) -- The "U.S. HVAC Services Market Research Report: By Type, Equipment Type, Implementation Type, End User - Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
In 2019, the U.S. HVAC (heating, ventilation, and air conditioning) service market generated a revenue of $25,625.8 million and is predicted to progress at a CAGR of 3.1% between 2020 and 2030. Furthermore, the market would reach a valuation of $35,714.5 million in 2030.
The increasing focus on environmental sustainability and green energy is pushing up the requirement for HVAC systems and services. In addition to this, the increasing construction and infrastructural development activities in the country are fueling the market advancement.
The COVID-19 pandemic has completely transformed the way people go about their daily lives. With strict social distancing becoming highly essential for controlling the spread of the virus, many HVAC companies are witnessing extremely slow revenue generation and even negative growth rates in some countries.
Depending on type, the U.S. HVAC service market is divided into consulting, installation, maintenance & repair, and upgradation/replacement. Out of these, the upgradation/replacement category recorded the highest growth in the market in the past. In the future years, the consulting category is predicted to demonstrate the highest growth rate in the market in the forthcoming years. Visual inspection is included in consulting services and it is conducted by a HVAC technician, who identifies and detects the potential issues and problems in the HVAC system before recommending it for thorough maintenance.
When the equipment type is taken into consideration, the U.S. HVAC service market is classified into heating, ventilation, and cooling. Amongst these, the ventilation category is predicted to demonstrate the fastest growth in the market in the future years. The latest amendment of 2016, the Standard 62.2-2016 developed by the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) states the acceptable IAQ levels that need to be maintained in the commercial and residential buildings. The mandatory maintenance of a minimum IAQ in the U.S. is boosting the sales of air cleaners in the country.
In the U.S., the southern region recorded the highest revenue growth in the U.S. HVAC service market in the years gone by. This was because of the fact that the climate varies a lot in the southern cities as compared to the cities located in the other parts of the country. The presence of such varying weather conditions positively impacts the sales of HVAC systems.
This, in turn, pushes up the demand for HVAC services. Many areas located in the southern part of the country are offering lucrative growth opportunities to the market players, who can now set up their operations in these areas for gaining a competitive edge in the market.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Type
18.104.22.168 Maintenance & repair
4.1.2 By Equipment Type
22.214.171.124.2 Heat pumps
126.96.36.199.4 Unitary heaters
188.8.131.52.2 Air cleaners
184.108.40.206.3 Ventilation fans
220.127.116.11.4 AHUs and FCUs
18.104.22.168.1 VRF systems
22.214.171.124.2 Ducted splits/packaged units
126.96.36.199.3 Split units
188.8.131.52.5 Room ACs
4.1.3 By Implementation Type
184.108.40.206 New construction
220.127.116.11 Retrofit buildings
4.1.4 By End User
18.104.22.168.1 Offices and buildings
22.214.171.124.1 Oil & gas
126.96.36.199.2 Food & beverage
188.8.131.52.4 Energy & utilities
4.2 Value Chain Analysis
4.3 Market Dynamics
184.108.40.206 Rising demand for smart HVAC systems
220.127.116.11 Growing construction industry
18.104.22.168 Increasing focus toward energy efficiency
22.214.171.124 Impact analysis of drivers on the market forecast
126.96.36.199 Shortage of skilled labor and high technician cost
188.8.131.52 Impact analysis of restraints on the market forecast
184.108.40.206 Growing manufacturing industry
220.127.116.11 Increasing demand for annual maintenance contract (AMC) services
4.4 Impact of COVID-19 on U.S. HVAC Services Market
4.4.1 Global Share by Countries
4.4.2 Global Scenario of COVID-19 Impact
4.4.3 COVID-19 Scenario
4.4.4 Future Scenario
4.5 Porter's Five Forces Analysis
Chapter 5. U.S. Market Size and Forecast
5.1 By Type
5.2 By Equipment Type
5.2.1 Heating, by Type
5.2.2 Ventilation, by Type
5.2.3 Cooling, by Type
5.3 By Implementation Type
5.4 By End User
5.4.1 Commercial, by Type
5.4.2 Industrial, by Type
5.5 By Region
Chapter 6. Competitive Landscape
6.1 Market Share Analysis of Key Players
6.2 Competitive Benchmarking of Key Players
6.3 Strategic Developments of Market Players
6.3.1 Mergers & Acquisitions
Chapter 7. Company Profiles
7.1 Business Overview
7.2 Product and Service Offerings
One Hour Heating & Air Conditioning
Johnson Controls International plc
Daikin Industries Ltd.
Lennox International Inc.
CLS Facility Services
The BP Group
National HVAC Service
Murphy & Miller Inc.
Trane Technologies plc
Carrier Global Corporation
Emerson Electric Co.
True Cool Air Conditioning Service Inc.
Dave's Cooling & Heating
For more information about this report visit https://www.researchandmarkets.com/r/jmzgx4
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