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The United States HVAC market reached an estimated USD $31.26 billion in 2024, and is projected to grow to USD $38.45 billion by 2030, representing a compound annual growth rate (CAGR) of 7.87%, according to The “United States HVAC Market, By Region, Competition, Forecast & Opportunities, 2020-2030“(1).
The wider U.S. HVAC systems sector, including heating, cooling, ventilation, and purification equipment, was estimated at USD $29.89 billion in 2024 and is expected to expand to USD $54.02 billion by 2033, at least 6.9% CAGR, based on analysis from Grand View Research(2).
These figures provide a clear picture of market size and growth over the coming years, offering useful data for those researching the HVAC industry.
Factors Contributing to HVAC Industry Growth
Demand from residential and commercial construction continues to drive HVAC installations. New developments in multi-family housing, single-family homes, retail, and office buildings require reliable systems. Rising population levels further increase the need for heating and cooling solutions across all regions.
Shift Toward Energy Efficiency and Smart Systems
Interest in smart HVAC systems is growing. These systems often include automation features, remote control via mobile apps, and integration with home management platforms. Consumers are choosing models that support energy conservation, often to lower costs or take advantage of tax credits. Grand View Research data indicates that heat pump installation and repair represented 38.5% of global HVAC systems revenue in 2024, largely due to a focus on energy-efficient heating and cooling.
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There is also increased demand for ductless mini-split systems, which offer flexible installation options. These units suit buildings that do not support ductwork, which is common in older residential properties.
U.S. Residential HVAC Market Trends
Grand View Research estimates that the U.S. residential HVAC systems market was worth approximately USD $6.56 billion in 2022. It is expected to grow to USD $9.96 billion by 2030, showing a CAGR of 5.6%. Another source projects the market to reach USD $31.4 billion by 2034, beginning from USD $15.4 billion in 2024, at a CAGR of 7.5% from 2025 onward.
Several factors are driving residential growth:
- Homeowners are investing in energy-saving units to qualify for rebate programs.
- There is rising demand for indoor air quality devices, such as purifiers and ventilators.
- Smart home integration continues to influence HVAC system purchases.
Global Trends and Market Outlook
According to Grand View Research, the global HVAC systems market will reach USD $382.66 billion by 2030, growing at a 7.5% CAGR from 2025 through 2030. Asia Pacific accounted for 46.8% of global HVAC spending in 2024, driven by industrial expansion and increasing commercialization. North America is expected to see strong continued growth.
Building regulations, rebate initiatives, and refrigerant standards are shaping buyer preferences. Smart building designs are also pushing adoption of building automation systems, which link climate control with lighting, security, and occupancy sensors.
Opportunities in HVAC Training
Housing demand, energy-conscious upgrades, and smart technology adoption are all driving change across the industry. These trends require skilled professionals who can install, maintain, and service modern systems.
As the HVAC market expands, demand increases for qualified professionals who can install, maintain, and repair modern systems. The Refrigeration School, Inc. (RSI) in Phoenix offers a 7-month HVAC/R training program. This program prepares students for entry-level technician roles across heating, ventilation, air conditioning, and refrigeration fields.
Graduates gain practical knowledge in systems used in both residential and commercial properties. Training includes hands-on work with tools and technology, including systems that feature smart controls or renewable energy integration.
Students interested in starting a career in HVAC/R can find long-term opportunities in an industry showing consistent growth through the decade.
To learn more about enrollment in RSI’s HVAC/R program, other program options, or class schedules, contact us today or call 1-855-935-0486 today.
References:
1.) https://www.researchandmarkets.com/report/united-states-hvac-market
2.) https://www.grandviewresearch.com/industry-analysis/us-hvac-systems-market
