How Coronavirus Pandemic Will Impact U.S. HVAC Services Market : Opportunities, Demand and Trends

Posted April 29, 2021 by devanshuraizada

The U.S. HVAC services market is witnessing the increasing need for smart HVAC systems.
The U.S. HVAC services market is witnessing the increasing need for smart HVAC systems. Customers are increasingly deploying building energy management systems (BEMSs) for their HVAC equipment. The BEMS monitors the efficiency of the equipment and allows for reducing the energy consumption of buildings. The BEMS and other systems need regular maintenance by trained specialists having in-depth knowledge of the systems. Therefore, the need for streamlining the operations of HVAC systems is rising year-on-year (Y-o-Y), to increase their efficiency, due to the developments in data analysis technologies.

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The type segment of the U.S. HVAC services market is classified into upgradation/replacement, installation, maintenance & repair, and consulting. Among these, the maintenance & repair category accounted for a significant market share in 2019. This is attributed to the fact that HVAC systems that are not regularly serviced need longer repair time and consume 20% more energy than regularly serviced systems. Additionally, they can become a safe place for the growth of mold and other microorganisms. Thus, they require regular servicing to reduce energy wastage and eliminate the growth of microorganisms.

Geographically, the southern region accounted for the largest share in 2019 in the U.S. HVAC services market. This was due to the more-variable climatic conditions in the southern cities of the country when compared to other regional cities and a high urbanization rate in the region. On the other hand, the market in the western region is projected to witness the fastest growth during the forecast period, owing to the increasing number of construction projects, with a focus on green buildings, in this region.

Thus, the growing construction industry and the increasing demand for HVAC systems in the U.S. are expected to propel the growth of the market during the forecast period.
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Issued By Devanshu
Country United States
Categories Business
Last Updated April 29, 2021