The HVAC industry plays a crucial role in ensuring people around the world have access to heating, air conditioning, ventilation, and indoor air filtration systems. Functioning HVAC systems are important for both our comfort and our health.
We’ve compiled HVAC industry statistics, market share and value, employment numbers, wages, and environmental impacts.
HVAC Insights and Trends
Heating, ventilation, and air conditioning (HVAC) systems are critical components of residential and commercial buildings. This list of facts and statistics about HVACs provides a glimpse into the significance of these systems and the importance of maintaining and upgrading them.
- Nearly 90% of U.S. homes used air conditioning in 2020.¹
- Most American homes (52%) use natural gas for space heating, while 48% use it for water heating as of 2020.¹
- Every residential central air conditioning unit and air-source heat pump system installed after 2023 must meet new energy efficiency standards.²
- More than 90% of U.S. households use air cooling equipment, compared to just 8% of the 2.8 billion people living in the world’s hottest regions, according to 2018 data.²
- The median annual salary for an HVAC technician in the United States was $48,630 in 2021 ($23.38 per hour).³
- The highest 10% of HVAC technicians earned more than $78,210 per year in 2021, while the lowest 10% earned less than $34,320.³
- The job outlook for HVAC technicians is projected to grow 5% from 2021 to 2031.³
- Depending on your region, replacing heating and cooling equipment with higher efficiency equipment can reduce energy use by 50% for electric heating and cooling systems.⁴
- Nearly half of the energy used in a standard U.S. home is used for heating and cooling.⁵
HVAC Industry Statistics
With new technology and energy efficiency regulations coming into effect, the HVAC industry is constantly evolving to meet the needs of its customers and keep up with changing market trends. The following research suggests that HVAC industry growth is driven by factors such as an increasing demand for energy-efficient systems, changing weather patterns, and growing construction activity.
- The global HVAC market is projected to grow at a compound annual growth rate (CAGR) of 7.72% from 2023 to 2028.⁶
- The global HVAC market hit about $158.8 billion in value in 2022. It’s expected to reach nearly $227.82 billion by 2028.⁷
- The U.S. air conditioner unit stock is projected to be 417 million units as of 2023 and likely to reach 542 million units by 2050.⁸
- The global heat pump market size was estimated to be $67.38 billion in 2021 and is expected to reach $132.45 billion by 2031.⁹
- Air cooling products are the most sought after in the U.S., accounting for 57.8% of HVAC market revenue in 2022.¹⁰
- The demand for commercial HVAC systems is expected to experience a growth rate of more than 7% from 2023 to 2030—the fastest growth rate to date.¹⁰
- Consumers spend more than $10 billion each year on HVAC repair and maintenance services.¹⁰
HVAC Employee Statistics
HVAC employees play a critical role in the installation, repair, and maintenance of heating and cooling systems for homes, businesses, and industrial facilities. The demand for skilled HVAC employees is on the rise, and career opportunities in this field are expected to grow in the coming years.
- Three of the most populated states (Florida, Texas, and New York) had more than 6,900 plumbing and HVAC contractor businesses in 2020. California was No. 1 with 10,716.¹¹
- The U.S. Bureau of Labor Statistics projects the employment of heating, air-conditioning, and refrigeration mechanics and installers will increase by 15% by 2026, much faster than average for all other occupations.³
- Appleton, Wisconsin, is the best place in the U.S. for a plumbing or HVAC job. The average salary for an HVAC technician there was $70,050, where annual housing costs in the area make up about 16.3% of that figure as of May 2021.¹²
- The median annual wage for employees who work in HVAC and refrigeration occupations is $45,760 as of May 2021. This includes mechanics and installers who work in educational services, retail trade, wholesale trade, and contracting.³
HVAC Environmental Research and Findings
HVAC systems are critical for maintaining comfortable indoor temperatures, improving air quality, and ensuring energy efficiency.
- Furnaces must have a 90% efficiency rating in the northern United States. Meanwhile, Southern states need only an 80% efficiency rating.²
- Geothermal heat pump technology can reduce energy consumption by up to 44% compared to traditional heating systems, such as boilers.⁴
- Energy recovery ventilation systems can recover roughly 80% of the energy in the outgoing air and bring it to the incoming air.¹³
- Sealing and insulating ducts can improve the efficiency of heating and cooling systems by as much as 20%.⁵
- You can lower your air conditioner’s energy consumption by 5% to 15% just by replacing a dirty, clogged filter with a clean one.¹⁴
The future of the HVAC industry looks promising, thanks to industry trends and changes in government regulations. Both commercial and residential sectors are focusing on high energy efficiency and environmentally friendly equipment. Other industry trends, such as smart devices with Internet of Things (IoT) connectivity, have made it easier to reduce costs and emissions, leading to business and industry growth and workforce diversification.
Despite these advancements, homeowners must properly maintain their HVAC systems to maximize efficiency and cost-effectiveness. You can help keep your system running smoothly by getting seasonal tune-ups, cleaning and sealing the air ducts, and regularly changing the filters. Using smart thermostats or replacing outdated or malfunctioning units with new energy-rated ones can enhance the system’s performance.
- “2020 Residential Energy Consumption Survey (RECS).” U.S. Energy Information Administration (EIA). March 29, 2023. https://www.eia.gov/consumption/residential/index.php
- “HVAC Services Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026).” Mordor Intelligence, n.d. https://www.mordorintelligence.com/industry-reports/hvac-services-market.
- “Heating, Air Conditioning, and Refrigeration Mechanics and Installers.” U.S. Bureau of Labor Statistics. September 8, 2022. https://www.bls.gov/ooh/installation-maintenance-and-repair/heating-air-conditioning-and-refrigeration-mechanics-and-installers.htm#tab-5.
- “Choosing and Installing Geothermal Heat Pumps.” U.S. Department of Energy, n.d. https://www.energy.gov/energysaver/choosing-and-installing-geothermal-heat-pumps.
- “Heating & Cooling.” Energy Star. n.d. https://www.energystar.gov/campaign/heating_cooling.
- “HVAC Equipment Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026).” Market Data Forecast. March 1, 2023. https://www.marketdataforecast.com/market-reports/hvac-equipment-market.
- “HVAC Market Size, Share, Price | Industry Report 2021-2026.” Expert Market Research. n.d. https://www.expertmarketresearch.com/reports/hvac-market.
- “Global Air Conditioner Stock, 1990-2050.” International Energy Agency. October 26, 2022. https://www.iea.org/data-and-statistics/charts/global-air-conditioner-stock-1990-2050.
- “Heat Pump Market: Information by Type (Air source heat pumps, Water source heat pumps), End User (Industrial, Residential, Commercial), and Region — Forecast Till 2031.” Straits Research. n.d. https://straitsresearch.com/report/heat-pump-market
- “U.S. HVAC Systems Market Size, Share & Trends Analysis Report By Product (Heating, Air Conditioning, Ventilation), By Application, By Region, And Segment Forecasts, 2021-2028.” Grand View Research. n.d. https://www.grandviewresearch.com/industry-analysis/us-hvac-systems-market
- “Number of Plumbing and HVAC Contractors in the United States as of 2021, by State.” Statista. March 1, 2023. https://www.statista.com/statistics/1243016/plumbing-and-hvac-contractors-by-state-usa/
- “Bureau of Labor Statistics 2021 Occupational Employment Survey.” U.S. Bureau of Labor Statistics. May 2022. https://www.bls.gov/oes/current/oessrcma.htm
- “Whole-House Ventilation.” U.S. Department of Energy. n.d. https://www.energy.gov/energysaver/whole-house-ventilation.
- “Maintaining Your Air Conditioner.” U.S. Department of Energy. n.d. https://www.energy.gov/energysaver/maintaining-your-air-conditioner
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