U.S Residential HVAC Market Growth, Size, Trends, Analysis and Segment Forecast to 2034
U.S Residential HVAC Market Growth, Size, Trends Analysis - By Product, By Installation Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Aug-2025 | Report ID: CHEM25153 | Pages: 1 - 244 | Formats*: |
| Category : Chemical & Materials | |||
U.S Residential HVAC Market Introduction and Overview
According to SPER Market Research, the U.S Residential HVAC Market is estimated to reach USD 33.1 billion by 2034 with a CAGR of 7.75%.
The report includes an in-depth analysis of the U.S Residential HVAC Market, including market size and trends, product mix, Applications, and supplier analysis. The U.S Residential HVAC market is expected to be worth USD 15.69 billion in 2024, with a CAGR of 7.75% between 2025 and 2034. In recent years, the Residential HVAC industry in the United States has witnessed remarkable growth. The integration of smart technologies, energy-efficient systems, and user-friendly designs has elevated the standards of home comfort and system performance. Popular HVAC solutions continue to evolve through new product lines, smart-enabled upgrades, and improved climate control features, ensuring a consistent flow of innovation that keeps consumers engaged. Technological advancements—such as AI-powered thermostats, IoT integration, and advanced inverter compressors—have improved both system efficiency and user convenience. Limited-edition models and customizable design options, often launched at industry expos or through brand-specific campaigns, are driving interest among tech-savvy homeowners.
By Product Insights
Cooling segment holds a dominant position in the residential HVAC market due to its widespread use in maintaining comfortable indoor environments. Air conditioning systems are essential for controlling and regulating temperature, ventilation, and humidity in enclosed spaces such as homes and vehicles, ensuring a consistent indoor climate and improved air quality.
By Installation Type
Replacement segment holds the largest share of the residential HVAC market. A significant portion of homeowners are replacing outdated or inefficient systems with modern, high-efficiency units, such as high-SEER air conditioners, heat pumps, and smart thermostats. This trend is driven by the need for improved energy performance, reduced utility costs, and enhanced indoor comfort.
By Region Insights
The U.S. Residential HVAC Market is divided into four regional segments: Northeast, Midwest, West, and South. The Southern region currently leads the market, primarily due to its hot and humid climate, which drives higher demand for cooling systems. Additionally, the region has a large residential population, rapid urbanization, and significant construction activity, all contributing to increased HVAC installations. The presence of major HVAC manufacturers and distributors in the South further strengthens its market position. Moreover, consumer preference for energy-efficient and smart home solutions in this region supports the growth of advanced residential HVAC systems.
Market Competitive Landscape
The U.S Residential HVAC Industry has major players, including, Carrier, Daikin Industries, Ltd, Emerson Electric Co., Haier Group, Johnson Controls, Lennox International, LG Electronics, Mitsubishi Electric Corporation, Rheem Manufacturing Company, Robert Bosch GmbH, and Trane Technologies plc. These companies compete fiercely with each other and local firms that have strong distribution networks and knowledge of suppliers and regulations. Carrier Global Corporation is a leading American multinational corporation specializing in heating, ventilation, and air conditioning (HVAC), refrigeration, fire safety, and building automation technologies. Founded by Willis Carrier in 1915 and headquartered in Palm Beach Gardens, Florida, USA, Carrier has played a pioneering role in shaping the modern HVAC industry. The company is widely recognized for its innovation, energy-efficient technologies, and commitment to sustainability.
Recent Developments:
In July 2024: Bosch made a significant move in the U.S. residential HVAC market by acquiring the residential and light-commercial HVAC business units from Johnson Controls and Hitachi for approximately $8.1 billion, including around $6.7 billion in cash. This acquisition, Bosch’s largest to date, is set to double the scale of its Home Comfort Group and significantly strengthen its position in the global HVAC industry.
In October 2023: Carrier Global Corporation introduced its next-generation Infinity® 26 and Infinity® 24 heat pumps and air conditioners equipped with Greenspeed® Intelligence and utilizing the R-454B refrigerant, a low global warming potential (GWP) alternative to R-410A. These systems are designed to meet upcoming environmental regulations while improving energy efficiency and system performance.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Product, By Installation Type |
| Regions covered | Northeast, Midwest, West, South |
| Companies Covered | Carrier, Daikin Industries, Ltd, Emerson Electric Co., Haier Group, Johnson Controls, Lennox International, LG Electronics, Mitsubishi Electric Corporation, Rheem Manufacturing Company, Robert Bosch GmbH, Trane Technologies plc. |
Key Topics Covered in the Report
- U.S Residential HVAC Market Size (FY’2021-FY’2034)
- Overview of U.S Residential HVAC Market
- Segmentation of U.S Residential HVAC Market, By Product (Heating, Ventilation, Cooling)
- Segmentation of U.S Residential HVAC Market, By Installation Type (New Construction Installation, Replacement)
- Statistical Snap of U.S Residential HVAC Market
- Expansion Analysis of U.S Residential HVAC Market
- Problems and Obstacles in U.S Residential HVAC Market
- Competitive Landscape in the U.S Residential HVAC Market
- Details on Current Investment in U.S Residential HVAC Market
- Competitive Analysis of U.S Residential HVAC Market
- Prominent Players in the U.S Residential HVAC Market
- SWOT Analysis of U.S Residential HVAC Market
- U.S Residential HVAC Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1.Introduction
1.1.Scope of the report1.2.Market segment analysis
2.Research Methodology
2.1.Research data source2.1.1.Secondary Data2.1.2.Primary Data2.1.3.SPERs internal database2.1.4.Premium insight from KOLs2.2.Market size estimation2.2.1.Top-down and Bottom-up approach2.3.Data triangulation
3.Executive Summary
4.Market Dynamics
4.1.Driver, Restraint, Opportunity and Challenges analysis
4.1.1.Drivers4.1.2.Restraints4.1.3.Opportunities4.1.4.Challenges
5.Market variable and outlook
5.1.SWOT Analysis5.1.1.Strengths5.1.2.Weaknesses5.1.3.Opportunities5.1.4.Threats5.2.PESTEL Analysis5.2.1.Political Landscape5.2.2.Economic Landscape5.2.3.Social Landscape5.2.4.Technological Landscape5.2.5.Environmental Landscape5.2.6.Legal Landscape5.3.PORTERs Five Forces5.3.1.Bargaining power of suppliers5.3.2.Bargaining power of buyers5.3.3.Threat of Substitute5.3.4.Threat of new entrant5.3.5.Competitive rivalry5.4.Heat Map Analysis
6.Competitive Landscape
6.1.U.S Residential HVAC Market Manufacturing Base Distribution, Sales Area, Product Installation Type6.2.Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in U.S Residential HVAC Market
7.U.S Residential HVAC Market, By Product 2021-2034 (USD Million)
7.1.Heating7.2.Ventilation7.3.Cooling
8.U.S Residential HVAC Market, By Installation Type 2021-2034 (USD Million)
8.1.New Construction Installation8.2.Replacement
9.U.S Residential HVAC Market, 2021-2034 (USD Million)
9.1.U.S Residential HVAC Market Size and Market Share
10.U.S Residential HVAC Market, By Region, 2021-2034 (USD Million)
10.1.Northeast10.2.Midwest10.3.West10.4.South
11.Company Profile
11.1.Carrier11.1.1.Company details11.1.2.Financial outlook11.1.3.Product summary11.1.4.Recent developments11.2.Daikin Industries, Ltd11.2.1.Company details11.2.2.Financial outlook11.2.3.Product summary11.2.4.Recent developments11.3.Emerson Electric Co11.3.1.Company details11.3.2.Financial outlook11.3.3.Product summary11.3.4.Recent developments11.4.Haier Group11.4.1.Company details11.4.2.Financial outlook11.4.3.Product summary11.4.4.Recent developments11.5.Johnson Controls11.5.1.Company details11.5.2.Financial outlook11.5.3.Product summary11.5.4.Recent developments11.6.Lennox International11.6.1.Company details11.6.2.Financial outlook11.6.3.Product summary11.6.4.Recent developments11.7.LG Electronics11.7.1.Company details11.7.2.Financial outlook11.7.3.Product summary11.7.4.Recent developments11.8.Mitsubishi Electric Corporation11.8.1.Company details11.8.2.Financial outlook11.8.3.Product summary11.8.4.Recent developments11.9.Rheem Manufacturing Company11.9.1.Company details11.9.2.Financial outlook11.9.3.Product summary11.9.4.Recent developments11.10.Robert Bosch GmbH11.10.1.Company details11.10.2.Financial outlook11.10.3.Product summary11.10.4.Recent developments11.11.Trane Technologies plc11.11.1.Company details11.11.2.Financial outlook11.11.3.Product summary11.11.4.Recent developments11.12.Others
12.Conclusion
13.List of Abbreviations
14.Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
U.S Residential HVAC Market is projected to reach USD 33.1 by 2034, growing at a CAGR of 7.75 % during the forecast period.
U.S Residential HVAC Market size from 2025. The Market is expected to reach USD 33.1 by 2034, at a CAGR of 7.75% during the forecast period.
U.S Residential HVAC Market CAGR of 7.75 % during the forecast period.
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U.S Residential HVAC Market size is USD 33.1 from 2025 to 2034.
U.S Residential HVAC Market covered By Product, By Installation Type
The North America is anticipated to have the highest Market share in the U.S Residential HVAC Market .
Carrier, Daikin Industries, Ltd, Emerson Electric Co., Haier Group, Johnson Controls, Lennox International, LG Electronics, Mitsubishi Electric Corporation, Rheem Manufacturing Company, Robert Bosch GmbH, Trane Technologies plc.
The report includes an in-depth analysis of the U.S Residential HVAC Market, including market size and trends, product mix, Applications, and supplier analysis.
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