The construction industry in the U.S. has been witnessing growth due to a number of factors, including the increasing population, focus towards infrastructural development, and swift urbanization. For example, as per the U.S. Census Bureau, the population in the country is predicted to rise by about 7% during 2019–2029. Residential construction activities are majorly increasing in the country, owing to the government initiatives for rising the home ownership rate.
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This is leading to the increasing demand for heating, ventilation, and air conditioning (HVAC) systems and related services in the U.S. According to a report by PS Intelligence, the U.S. HVAC services industry is predicted to generate a revenue of $35,714.5 million by 2030, increasing from $25,625.8 million in 2019, demonstrating a 3.1% CAGR during the forecast period (2020–2030). The different types of HVAC services are consulting, installation, maintenance repair, and upgradation/replacement, out of which, the demand for upgradation/replacement services has been the highest.
It is important for HVAC systems to undergo regular maintenance, otherwise they lead to energy wastage and can take longer servicing time. In addition to this, mold and microorganisms can infest equipment that are not serviced on a regular basis because of its inefficient air filtration system. It is because of such factor that the demand for upgradation/replacement services is projected to be the highest during the forecast period as well. Other than this, the demand for consulting services is also expected to rise significantly during the forecast period.
This market research report provides a comprehensive overview of the market
It is important for HVAC systems to undergo regular maintenance, otherwise they lead to energy wastage and can take longer servicing time. In addition to this, mold and microorganisms can infest equipment that are not serviced on a regular basis because of its inefficient air filtration system. It is because of such factor that the demand for upgradation/replacement services is projected to be the highest during the forecast period as well. Other than this, the demand for consulting services is also expected to rise significantly during the forecast period.
This market research report provides a comprehensive overview of the market
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
