The U.S. HVAC services market is predicted to:
Increase in value from $25.6 billion in 2019 to $35.8 billion in 2030
Create 13% more HVAC mechanic and installer jobs from 2018 to 2028, much more than the average for all occupations
Register a compound annual growth rate (CAGR) of 9.7% from 2019 to 2025
Demand for Energy Efficiency:
According to a survey conducted by the U.S. Census Bureau in 2018, the south has the highest number of households (48 million) of any other region in the U.S. Of the 48 million, nearly 38 million households in the region have an annual income above $25,000. Rising annual household income in the south is expected to further stimulate the adoption of HVAC systems.
Additionally, per the National Association of Home Builders, the construction industry in the south has grown at a rate of approximately 6% from 2017 to 2018.
Naturally, the construction industry growth in this region is increasing the demand for HVAC system installations.
Looking for more HVAC industry knowledge and predictions? ACCA members get access to exclusive HVAC industry updates and reports that empower them to prepare their businesses for the future.
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