Please Wait.....
Report
U.S. Residential HVAC Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025-2034
Market Report I 2025-02-25 I 220 Pages I Global Market Insights
U.S. Residential HVAC Market was valued at USD 15.4 billion in 2024 and is projected to grow at a CAGR of 7.5% between 2025 and 2034. The market is gaining traction as homeowners increasingly prioritize energy-efficient and sustainable heating and cooling solutions. With environmental concerns on the rise, consumers are actively seeking HVAC systems that minimize energy consumption, lower carbon footprints, and reduce long-term operational costs. The growing emphasis on sustainability has significantly influenced purchasing decisions, pushing manufacturers to develop advanced HVAC technologies that align with evolving consumer preferences.
Federal and state incentives, including tax credits and rebates, are further accelerating the adoption of eco-friendly HVAC systems. As demand for smarter, more efficient climate control solutions grows, industry players are focusing on innovation to enhance system performance, increase connectivity, and improve indoor air quality. The introduction of smart thermostats, variable-speed compressors, and AI-driven climate control features is reshaping the landscape of the U.S. residential HVAC industry, setting the stage for continued expansion.
Among HVAC systems, heat pumps accounted for USD 7.4 billion in revenue in 2024. The increasing adoption of heat pumps is largely attributed to their ability to transfer heat using electricity rather than generating it, making them a crucial component in residential decarbonization efforts. As homeowners look for energy-efficient alternatives to traditional HVAC systems, the demand for heat pumps continues to surge. Manufacturers are integrating digital technologies, such as IoT-enabled performance monitoring and predictive maintenance features, to enhance the efficiency and reliability of these systems. The expansion of solar-thermal energy applications is also expected to complement the growth of heat pumps, further driving market development.
The split air conditioner segment is positioned for significant growth, with a strong CAGR anticipated over the next decade. The rising preference for ductless systems, which offer flexible installation and improved energy efficiency, is fueling demand across new and existing residential properties. With technological advancements improving system capabilities and reducing operational costs, split air conditioners are expected to play a vital role in the overall expansion of the U.S. residential HVAC market.
The residential sector remains the dominant force in the U.S. HVAC industry, projected to capture an 87% market share in 2024. Homeowners are increasingly investing in HVAC solutions that offer energy savings, improved air quality, and smart home integration. The growing popularity of programmable thermostats, home automation compatibility, and zoning systems reflects the shift toward intelligent climate management. Federal initiatives promoting energy efficiency have incentivized consumers to upgrade outdated systems, reinforcing the trend toward sustainable residential HVAC solutions.
By installation type, the replacement and retrofit segment continues to lead the market, accounting for a 55% share in 2024. Aging HVAC infrastructure, stringent environmental policies, and consumer demand for high-efficiency upgrades are key drivers of this trend. Homeowners are replacing outdated systems with high-SEER-rated air conditioners, advanced heat pumps, and smart thermostats that optimize energy consumption while meeting new emissions standards. As regulatory frameworks become more stringent, the push for eco-friendly HVAC solutions is expected to strengthen, ensuring sustained market growth.
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Base estimates & calculations
1.3 Forecast calculations.
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry synopsis, 2021-2034
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Factor affecting the value chain.
3.1.2 Profit margin analysis.
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturer
3.1.6 Distributor
3.2 Supplier landscape
3.3 Key news & initiatives
3.4 Regulatory landscape
3.5 Impact forces
3.5.1 Growth drivers
3.5.1.1 Rising demand for energy-efficient and sustainable cooling solutions
3.5.1.2 Advancements in HVAC technology
3.5.2 Industry pitfalls & challenges
3.5.2.1 Energy shortages and crisis
3.5.2.2 Complex regulatory landscape
3.6 Growth potential analysis
3.7 Porter's analysis
3.8 PESTEL analysis
Chapter 4 Competitive Landscape, 2024
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Product Type, 2021-2034 (USD Billion) (Thousand Units)
5.1 Key trends
5.2 Heat pumps
5.2.1 Ducted
5.2.1.1 Vertical discharge
5.2.1.2 Side discharge
5.2.2 Ductless
5.3 Spilt air conditioner
5.3.1 Ducted
5.3.1.1 Vertical discharge
5.3.1.2 Side discharge
5.3.2 Ductless
5.4 Furnace
5.4.1 Gas furnaces
5.4.2 Oil furnaces
Chapter 6 Market Estimates & Forecast, By Application, 2021-2034 (USD Billion) (Thousand Units)
6.1 Key trends
6.2 Residential
6.2.1 Single family
6.2.2 Multi family
6.3 Light commercial
Chapter 7 Market Estimates & Forecast, By Installation, 2021-2034 (USD Billion) (Thousand Units)
7.1 Key trends
7.2 New construction
7.3 Replacement/retrofit
Chapter 8 Market Estimates & Forecast, By Distribution Channel, 2021-2034 (USD Billion) (Thousand Units)
8.1 Key trends
8.2 Direct sales
8.3 Indirect sales
Chapter 9 Company Profiles
9.1 American Standard
9.2 Bosch
9.3 Bryant Heating & Cooling Systems
9.4 Carrier
9.5 Daikin
9.6 Goodman Manufacturing
9.7 Honeywell
9.8 Ingersoll Rand
9.9 Johnson Controls
9.10 Lennox
9.11 LG Electronics USA
9.12 Midea
9.13 Panasonic
9.14 Rheem
9.15 Trane Technologies
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security