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U.S. Residential HVAC Market Share

Report ID: GMI11267
Published Date: Sep 2024
Report Format: PDF

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U.S. Residential HVAC Market Share

Global U.S Residential HVAC Company Market Share Analysis, 2023

The U.S. residential HVAC industry is consolidated, with prominent players, holding a market share of 35%-40% of the total market share. These companies are key players in providing a wide range of HVAC products and solutions, including heating systems, air conditioning units, ventilation systems, and smart home HVAC technologies.

U.S. Residential HVAC Market Companies

Major companies operating in the U.S. residential HVAC industry include:

Amana
American Standard
Bosch Thermotechnology
Bryant Heating & Cooling Systems
Carrier Corporation
Daikin
Goodman Manufacturing
Honeywell International Inc.
Ingersoll Rand
Johnson Controls
Lennox International Inc.
LG Electronics USA
Midea Group
Rheem Manufacturing Company
Trane Technologies

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of U.S. residential HVAC was worth over USD 14.2 billion in 2023 and is anticipated to register a CAGR of 7.3% between 2024 to 2032, owing to the growing housing sector and rapid urbanization.

The heat pump segment of the U.S. residential HVAC industry was worth around 6.8 billion in 2023 and is anticipated to record a CAGR of 7.7% through 2032, as they optimize energy use and cost efficiency by switching between an electric heat pump and a gas furnace, depending on outdoor temperatures.

The replacement/retrofit segment held around 55% market share in 2023 and is anticipated to record a CAGR of 7.2% through 2032, as homeowners in the U.S. are increasingly upgrading to high-efficiency HVAC systems to reduce energy costs and enhance comfort.

Bryant Heating & Cooling Systems, Carrier Corporation, Daikin, Goodman Manufacturing, Honeywell International Inc., Ingersoll Rand, Johnson Controls, Lennox International Inc., LG Electronics USA, and Midea Group among others.