11/08/2020
U.S. HVAC Industry Trends
U.S. HVAC Industry Overview
The US HVAC is a highly fragmented market with more than 105,000 companies operating in the region. The ecosystem comprised of HVAC manufacturers, third-party channel distributors, and certified contractors, and end-users. Moreover, the US HVAC industry is highly regulated, where contractors are highly approved by the North American Technician Excellence (NATE) organization that independently certifies technicians in the heating and cooling industry. Additionally, the standards have been pre-defined for the various states by the local authorities. For instance, in the northern states of the US, the furnaces are required to 90% efficiency ratings, whereas in southern states required only 80% of the efficiency rating. This suggests the US HVAC is highly regulated which defines the trends of the market.
Integrating Smart Technology leading to market growth in the US
According to DataHorizzon Research, most of the US companies are incorporating automation to simplify their sales process and service delivery, enabling them to reduce their customer acquisition costs to a greater extent. The adoption of smart apps is increasingly facilitated by the building owners to operate and control lighting, ventilation, and other application through a single point of contact. Furthermore, On the supply side, HVAC contractors are significantly implementing sophisticated software tools that enable them to have constant customer engagement. Integrating smart sensors, big data, and analytical solutions is anticipated to increase the growth prospect for highly efficient HVAC systems to be installed in the future.