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United States HVAC Services Market Report 2020: Many HVAC Companies are Witnessing Extremely Slow Revenue Generation Due to the Impact of COVID-19

Dublin, Nov. 20, 2020 (GLOBE NEWSWIRE) — The “U.S. HVAC Services Market Research Report: By Type, Equipment Type, Implementation Type, End User – Industry Analysis and Growth Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering. In 2019, the U.S. HVAC (heating, ventilation, and air conditioning) service market generated a revenue of $25,625.8 million and is predicted to progress at a CAGR of 3.1% between 2020 and 2030. Furthermore, the market would reach a valuation of $35,714.5 million in 2030. The increasing focus on environmental sustainability and green energy is pushing up the requirement for HVAC systems and services. In addition to this, the increasing construction and infrastructural development activities in the country are fueling the market advancement. The COVID-19 pandemic has completely transformed the way people go about their daily lives. With strict social distancing becoming highly essential for controlling the spread of the virus, many HVAC companies are witnessing extremely slow revenue generation and even negative growth rates in some countries. Depending on type, the U.S. HVAC service market is divided into consulting, installation, maintenance & repair, and upgradation/replacement. Out of these, the upgradation/replacement category recorded the highest growth in the market in the past. In the future years, the consulting category is predicted to demonstrate the highest growth rate in the market in the forthcoming years. Visual inspection is included in consulting services and it is conducted by a HVAC technician, who identifies and detects the potential issues and problems in the HVAC system before recommending it for thorough maintenance. When the equipment type is taken into consideration, the U.S. HVAC service market is classified into heating, ventilation, and cooling. Amongst these, the ventilation category is predicted to demonstrate the fastest growth in the market in the future years. The latest amendment of 2016, the Standard 62.2-2016 developed by the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) states the acceptable IAQ levels that need to be maintained in the commercial and residential buildings. The mandatory maintenance of a minimum IAQ in the U.S. is boosting the sales of air cleaners in the country. In the U.S., the southern region recorded the highest revenue growth in the U.S. HVAC service market in the years gone by. This was because of the fact that the climate varies a lot in the southern cities as compared to the cities located in the other parts of the country. The presence of such varying weather conditions positively impacts the sales of HVAC systems. This, in turn, pushes up the demand for HVAC services. Many areas located in the southern part of the country are offering lucrative growth opportunities to the market players, who can now set up their operations in these areas for gaining a competitive edge in the market. Key Topics Covered: Chapter 1. Research Background 1.1 Research Objectives 1.2 Market Definition 1.3 Research Scope 1.4 Key Stakeholders Chapter 2. Research Methodology 2.1 Secondary Research 2.2 Primary Research 2.3 Market Size Estimation 2.4 Data Triangulation 2.5 Assumptions for the Study Chapter 3. Executive Summary Chapter 4. Introduction 4.1 Definition of Market Segments 4.1.1 By Type 4.1.1.1 Installation 4.1.1.2 Upgradation/replacement 4.1.1.3 Maintenance & repair 4.1.1.4 Consulting 4.1.2 By Equipment Type 4.1.2.1 Heating 4.1.2.1.1 Furnaces 4.1.2.1.2 Heat pumps 4.1.2.1.3 Boilers 4.1.2.1.4 Unitary heaters 4.1.2.2 Ventilation 4.1.2.2.1 Humidifiers/dehumidifiers 4.1.2.2.2 Air cleaners 4.1.2.2.3 Ventilation fans 4.1.2.2.4 AHUs and FCUs 4.1.2.3 Cooling 4.1.2.3.1 VRF systems 4.1.2.3.2 Ducted splits/packaged units 4.1.2.3.3 Split units 4.1.2.3.4 Chillers 4.1.2.3.5 Room ACs 4.1.3 By Implementation Type 4.1.3.1 New construction 4.1.3.2 Retrofit buildings 4.1.4 By End User 4.1.4.1 Residential 4.1.4.2 Commercial 4.1.4.2.1 Offices and buildings 4.1.4.2.2 Supermarkets/hypermarkets 4.1.4.2.3 Government 4.1.4.2.4 Healthcare 4.1.4.2.5 Hospitality 4.1.4.2.6 Transportation 4.1.4.2.7 Others 4.1.4.3 Industrial 4.1.4.3.1 Oil & gas 4.1.4.3.2 Food & beverage 4.1.4.3.3 Automotive 4.1.4.3.4 Energy & utilities 4.1.4.3.5 Others 4.2 Value Chain Analysis 4.3 Market Dynamics 4.3.1 Trends 4.3.1.1 Rising demand for smart HVAC systems 4.3.2 Drivers 4.3.2.1 Growing construction industry 4.3.2.2 Increasing focus toward energy efficiency 4.3.2.3 Impact analysis of drivers on the market forecast 4.3.3 Restraints 4.3.3.1 Shortage of skilled labor and high technician cost 4.3.3.2 Impact analysis of restraints on the market forecast 4.3.4 Opportunities 4.3.4.1 Growing manufacturing industry 4.3.4.2 Increasing demand for annual maintenance contract (AMC) services 4.4 Impact of COVID-19 on U.S. HVAC Services Market 4.4.1 Global Share by Countries 4.4.2 Global Scenario of COVID-19 Impact 4.4.3 COVID-19 Scenario 4.4.4 Future Scenario 4.5 Porter’s Five Forces Analysis Chapter 5. U.S. Market Size and Forecast 5.1 By Type 5.2 By Equipment Type 5.2.1 Heating, by Type 5.2.2 Ventilation, by Type 5.2.3 Cooling, by Type 5.3 By Implementation Type 5.4 By End User 5.4.1 Commercial, by Type 5.4.2 Industrial, by Type 5.5 By Region Chapter 6. Competitive Landscape 6.1 Market Share Analysis of Key Players 6.2 Competitive Benchmarking of Key Players 6.3 Strategic Developments of Market Players 6.3.1 Mergers & Acquisitions 6.3.2 Partnerships Chapter 7. Company Profiles 7.1 Business Overview 7.2 Product and Service Offerings * One Hour Heating & Air Conditioning * Johnson Controls International plc * Daikin Industries Ltd. * Lennox International Inc. * CLS Facility Services * AmeriCool LLC * The BP Group * National HVAC Service * Murphy & Miller Inc. * Trane Technologies plc * Carrier Global Corporation * Emerson Electric Co. * True Cool Air Conditioning Service Inc. * Dave’s Cooling & HeatingFor more information about this report visit https://www.researchandmarkets.com/r/jmzgx4 Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

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