With the boom in the construction industry, the demand for heating, ventilation, and air-conditioning (HVAC) services is rising rapidly in the U.S. Because of the rapid urbanization, increasing population, and the soaring construction of various buildings and establishments, the construction industry is exhibiting rapid expansion in the U.S.
For example, as per the U.S. Census Bureau, the country’s population is predicted to rise by nearly 7% from 2019 to 2029. Furthermore, with the increasing implementation of government initiatives aimed at augmenting the home ownership rate, the construction of residential buildings is soaring rapidly in the country.
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For example, the U.S. government announced an increment of nearly 2% in its budget allocation for various construction projects. With the launch of several construction projects, the demand for HVAC equipment will explode, which will, in turn, propel the requirement for HVAC services in the country in the coming years.
Besides the aforementioned factors, the rising focus on energy efficiency is also positively impacting the requirement for HVAC services in the country. Furthermore, the surging replacement rate of HVAC devices and equipment is augmenting the need for associated services in the country, which is, in turn, driving the expansion of the U.S. HVAC services market. The valuation of the market is predicted to grow from $25,625.8 million in 2019 to $35,714.5 million by 2030.
This market research report provides a comprehensive overview of the market
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings