HVAC (Heating, Ventilation, and Air Conditioning) equipment refers to a system used to control indoor environmental temperature, humidity, air quality, and airflow velocity. These devices not only provide a comfortable indoor environment but also ensure the health and safety of the air inside the building.

Segmented Market Analysis

According to their different functions, HVAC equipment can mainly be divided into several parts, including heating equipment, ventilation equipment, and air conditioning equipment. Heating equipment includes boilers, radiators, underfloor heating, etc., which are used to provide the required indoor heat; Ventilation equipment, such as air purifiers, humidifiers, dehumidifiers, etc., are used to improve indoor air quality and regulate indoor humidity; Air conditioning equipment includes split type air conditioning, central air conditioning, etc., used to regulate indoor temperature and provide a comfortable living environment. Among them, air conditioning equipment occupies a dominant position in the market, with a segmented market share of 58.50% in 2023.

From the perspective of downstream applications, the US HVAC equipment market mainly includes three areas: residential, commercial, and industrial. Among them, the demand in the commercial sector is growing the fastest and is expected to maintain a high growth rate in the coming years. This is mainly due to the prosperity of the US commercial real estate market and the increasing demand for efficient and intelligent HVAC systems in commercial spaces.

US HVAC Equipment Market Size and Market Share by Type and Application in 2023

	Market Size (Billion USD)	Market Share
Segmented by Type
Heating Equipment	5.57	14.78%
Air Conditioning Equipment	22.03	58.50%
Ventilation Equipment	10.06	26.72%
Segmented by Application
Residential	11.08	29.41%
Commercial	16.17	42.93%
Industrial	10.42	27.66%

Overview of Market Development and Analysis of Competitive Landscape

In recent years, thanks to the rapid expansion of the US real estate industry, especially the growing demand for commercial spaces such as shopping malls, hotels, airports, and offices, the size of the US HVAC equipment market has continued to expand. In addition, with the popularization of smart home and IoT technology, the HVAC industry in the United States is developing towards intelligence and efficiency, which also provides new impetus for market growth. According to our research data, the size of the US HVAC equipment market reached $37.66 billion in 2023. In the coming years, with the continuous expansion of the real estate industry, the popularization of smart home and Internet of Things technology, and the promotion of environmental policies, the industry will usher in a broader development space. It is expected that by 2025, the size of the US HVAC equipment market will increase to $42.71 billion.

From the perspective of market competition, the concentration of the US HVAC equipment market is relatively high. Data shows that in 2023, the total revenue of the HVAC equipment market for the top 3 enterprises in the industry was $17.65 billion, with a total revenue share of 46.87%. The top three companies were Ingersoll Rand Inc., United Technologies Corporation, and Johnson Controls. In 2023, these three companies accounted for 18.95%, 15.08%, and 12.84% of the US HVAC equipment market revenue, respectively.

Source: www.globalmarketmonitor.com

For more industry information, please refer to our latest released "Global and China HVAC Equipment Industry Market Research Report (2017-2028)".