The above data was sourced from a report by Grand View Research.
The HVAC market in the United States has experienced consistent growth in the past 10 years. From 2010 to 2020, the market size of HVAC systems in the US has grown by more than 60%, from $56.2 billion to $89.6 billion. The compound annual growth rate (CAGR) of the industry stands at 4.6%. The highest year-on-year growth was registered between 2014 and 2015, when the market grew by 8.3%. This suggests that the industry is continuing to expand in the US despite the economic downturn of the past decade.
The market is expected to reach $125.3 billion by 2027, which would bring the total market size over the 10-year period to a staggering $69.1 billion. This represents an average growth of 7.0% per year, which is a healthy sign for the future of the HVAC industry in the US.
